国际经济学II课件 .ppt

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1、InternationalEconomicsIILecture08HowDoestheOpenMacroeconomyWork?--BalanceofPaymentsAdjustmentTheories开放的宏观经济如何运行ChapterObjectivesThe8th,9th,10thchapters:addresstheproblemofmacroeconomicperformance—thebehaviorofacountry’soutput,jobsandpricesinthefaceofchangingworldconditions.Thischapt

2、erdevelopsageneralframeworkforanalyzingtheperformanceofanationaleconomythatisopentointernationaltransactions.ChapterStructureNationalMacroeconomicPerformanceGoalsAframeworkformacroeconomicanalysisIS-LM-FEModelTradealsodependsonpricecompetitiveness1.NationalMacroeconomicPerformanceGoa

3、lsInternalBalance(objectivesorientedtothedomesticeconomy)Keepingactualdomesticproductionuptotheeconomy’scapabilities--Fullemployments--Economy’sproductiongrowsovertimePricestability,oranacceptablylowinflationrate1.NationalMacroeconomicPerformanceGoalsExternalbalance(objectivesrelated

4、tothecountry’sinternationaleconomicactivities)Sustainablecompositionofthecountry’sbalanceofpaymentswiththerestoftheworldUsefulindicator:Officialsettlementsbalanceapproximatelyequaltozero(sothatthecountryisnotlosingofficialinternationalreservesoracquiringunwantedofficialinternationalr

5、eserves)2.AframeworkformacroeconomicanalysisFocus:thedeterminantsofrealGDPandtherelationshipsbetweeninternationaltradeandnationalincome2.1Y=AD(Y)2.2M=M(Y)2.3EquilibriumGDP2.4SpendingMultipliers2.5Thepriceleveldoeschange2.1DomesticProductionDependsonAggregateDemandY=AD(Y)Intheshortrun

6、,(andwithintheeconomy’ssupply-sidecapabilities),domesticproductionisdeterminedbyaggregatedemand(AD)forthecountry’sproductsY=AD=C+Id+G+(X-M)E—NationalExpenditureongoodsandservicesE=C+Id+GE=C+Id+GC–householdconsumptionexpendituresarepositivelyrelatedtodisposableincomeC=C(Y)Id—Realdomes

7、ticinvestmentspendingisnegativelyrelatedtothelevelofinterestrates(i)intheeconomyId=Id(i)G–Governmentspendingongoodsandservicesasapoliticaldecision.Decisionsaboutgovernmentspendingareamajorpartofacountry’sfiscalpolicy2.2.TradeDependsonIncomeM=M(Y)Y=E+(X-M)M–thevolumeofanation’simports

8、dependsposit