宏观经济学原理与应用（第二版）教学配套课件罗伯特.E.霍尔short_run.pdfVIP

The Short-Run Macro Model Slides by: John Pamela Hall ECONOMICS: Principles and Applications 3e HALL LIEBERMAN © 2005 Thomson Business and Professional Publishing The Short-Run Macro Model • Spending is very important in short-run – The more income households have, the more they will spend • Spending depends on income – But the more households spend, the more output firms will produce • More income they will pay to their workers – Thus, income depends on spending • In short-run, spending depends on income, and income depends on spending • Many ideas behind the model were originally developed by British economist John Maynard Keynes in 1930s – Short-run macro model focuses on spending in explaining economic fluctuations – Explains how shocks that affect one sector influence other sectors • Causing changes in total output and employment 2 Thinking About Spending • Spending on what? • In short-run macro model, focus on spending in markets for currently produced U.S. goods and services – Things that are included in U.S. GDP • Need to organize our thinking about markets that contribute to GDP – What’s the best way to categorize all these buyers into larger groups so we can analyze their behavior? • Macroeconomists have found that the most useful approach is to divide those who purchase the GDP into four broad categories – Households, whose spending is called consumption spending (C) – Business firms, whose spending is called planned investment spending (IP) – Government agencies, whose spending on goods and services is called government purchases (G) – Foreigners, whose spending we measure as net exports