FIGURES FOR CHAPTER 6
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Transcript of FIGURES FOR CHAPTER 6
©2005 Brooks/Cole - Thomson Learning
FIGURES FOR
CHAPTER 6
MATTERS OF FUNCTIONAL FORM
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©2005 Brooks/Cole - Thomson Learning
Figure 6.1
The log-log model.
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Figure 6.2
The log-log model (< 0).
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Figure 6.3
The constant growth model in discrete time(Y0 = 100, g = 0.05).
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Figure 6.4
U.S. GDP per capita, 1880–1987.
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Figure 6.5
The natural logarithmic function y = log x.
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Figure 6.6
Prices during the Hungarian hyperinflation of 1945–1946.
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Figure 6.7The lin-log model: Y = + log X.
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Figure 6.8Prais and Houthakker’s Engel curve for meat consumption, based on a lin-log regression model.
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Figure 6.9
The reciprocal model: Y = + .
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Figure 6.10Prais and Houthakker’s Engel curve for meat consumption, based on a reciprocal regression model.
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Figure 6.12
Alternative functional forms for an Engel curve fitted to Houthakker’s electricity demand data.
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Figure 6.13Money and prices during the Germanhyperinflation,September 1920– November 1923 (Sept. 1920 = 1.0).
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Figure 6.14Money and pricesduring the Polishhyperinflation, April 1922– November 1923 (April 1922 = 1.0).
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Figure 6.15The velocity of money in the United States, 1869–1970.
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Figure 6.16
Real money holdings log(Mt/Pt ) decline during a hyperinflation.