第5章开放的经济顾炜宇教程.ppt

* In the equation, ε is the only endogenous variable; hence this equation determines its value. * *** Note *** At the lower left corner of this graph, NX does NOT NECESSARILY EQUAL ZERO!!! * WARNING: Don’t let your students confuse the demand for dollars in the foreign exchange market with demand for real money balances (Chapter 4), or the supply of dollars in the foreign exchange market with the supply of money (Chapter 4). If you and your students are into details: NX is actually the net demand for dollars: foreign demand for dollars to purchase our exports minus our supply of doll