第开放经济条件下的总需求.pptVIP

* * The result that income rises when the risk premium rises seems counter-intuitive and inaccurate. This slide explains why the increase in the risk premium may cause other things to occur that prevent income from rising, and may even cause income to fall. * Mexico’s central bank had maintained a fixed exchange rate with the U.S. dollar at about 29 cents per peso. * In the week before Christmas 1994, the central bank abandoned the fixed exchange rate, allowing the peso’s value to “float.” Then, in just one week, the peso lost nearly 40% of its value, falling further during the foll