巴罗 宏观经济学现代观点 第15章.pptVIP

Macroeconomics Chapter 15 Effects of Money in the Equilibrium Business-Cycle Model In our equilibrium business-cycle model： Effects of Money in the Equilibrium Business-Cycle Model If M does not respond to changes in the real quantity demanded, P will move in the direction opposite to the change in L(Y, i). Effects of Money in the Equilibrium Business-Cycle Model If the monetary authority wants to stabilize the price level, P, it should adjust the nominal quantity of money, M, to balance the changes in the real quantity demanded, L(Y, i). The Price-Misperceptions Model The price-misperc