布兰查德 宏观经济学 第四版 第20章.pptVIP

Output, the Interest Rate,and the Exchange Rate The model developed in this chapter is an extension of the open economy IS-LM model, known as the Mundell-Fleming model. The main questions we try to solve are: What determines the exchange rate? How can policy makers affect exchange rates? Equilibrium in the Goods Market Equilibrium in the goods market can be described by the following equations: Equilibrium in the Goods Market Consumption C depends positively on disposable income Y-T. Investment I depends positively on output Y, and negatively on the real interest rate r. Government spendin