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Chapter 11
Market-Clearing Models of the Business Cycle
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Figure 11.1 The Effects of an Unanticipated Increase in the Money Supply in the Money Surprise Model
Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 11-3
Table 11.1 Data Versus Predictions of the Money Surprise Model with Monetary Shocks
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Figure 11.2 Solow Residuals and GDP
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Figure 11.3 Effects of a Persistent Increase in Total Factor Productivity in the Real Business Cycle Model
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Figure 11.4 Average Labor Productivity with Total Factor Productivity Shocks
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Table 11.2 Data Versus Predictions of the Real Business Cycle Model with Productivity Shocks
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Figure 11.5 Procyclical Money Supply in the Real Business Cycle Model with Endogenous Money
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Figure 11.6 Percentage Deviations From Trend in Money Supply and GDP
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Figure 11.7 Real and Nominal Interest Rates
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Figure 11.8 Relative Price of Energy
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Figure 11.9 A Production Function with Increasing Returns to Scale
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Figure 11.10 Aggregate Labor Demand with Sufficient Increasing Returns to Scale
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Figure 11.11 The Labor Market in the Coordination Failure Model
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Figure 11.12 The Output Supply Curve in the Coordination Failure Model
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Figure 11.13 Multiple Equilibria in the Coordination Failure Model
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Table 11.3 Data Versus Predictions of the Coordination Failure Model
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Figure 11.14 Average Labor Productivity in the Keynesian Coordination Failure Model
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Figure 11.15 Procyclical Money Supply in the Coordination Failure Model
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Figure 11.16 Stabilizing Fiscal Policy in the Coordination Failure Model