国际金融-chapter nine.pptVIP

Analyzing Policy Options Under the Bretton Woods System Maintaining Internal Balance If both P* and E are permanently fixed, internal balance required only full employment. Investment is assumed constant. The condition of internal balance: Yf = C(Yf – T) + I + G + CA(EP*/P, Yf – T) (18-1 定义II曲线：使产出维持在Yf，从而实现内部平衡的汇率和财政政策的组合。它向下倾斜。 Analyzing Policy Options Under the Bretton Woods System Maintaining External Balance How do policy tools affect the economy’s external balance? Assume the government has a target value, X, for the current account surplus. External balance require