Figure 2: Baseline Series
- full sample: 1960:1 2003:2 -
20
16
12
8
4
0
60 65 70 75 80 85 90 95 00
14
12
10
8
6
4
2
0
-2
----Federal Funds Rate
60 65 70 75 80 85 90 95 00
----Inflation
8
4
0
-4
-8
-12
60 65 70 75 80 85 90 95 00
---Output Gap
30
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