第二讲IS_LM曲线.pptVIP

第二讲 IS-LM模型; 商品市场与IS关系 货币市场与LM关系 IS-LM 模型与宏观经济政策;§ 1、均衡产出的概念;居 民;§2、总需求;GDP 的组成 （C+I+G+X-M）;1. 消费函数;3）. 边际消费倾向（MPC，0 MPC 1） ：;c;6）. 线性消费函数：;c;Consumption and Disposable Income;2. 投资函数;3. 政府购买;§4、均衡产出的决定;Demand, production and income;multiplier;The term (1?c1) is called the propensity to save.;Using a Graph;Using a Graph;The Paradox of Saving;Is the Government Omnipotent?A Warning;§5、IS 关系;In this sector, we capture the effects of two factors affecting investment: The level of sales (+) The interest rate (-);I = e – d i;Deriving the IS Curve;3. IS曲线的移动;Shifts of the IS Curve;第二章 货币市场与LM关系;§1. 货币需求;It is clear that you should hold both money and bonds. In what proportions should you do so? This will depend mainly on two variables:;Transactions- motive: the need of cash for the current transaction of personal and business exchanges;Demand for money;Md ($Y);§2. 利率的决定;Money Demand and the Interest Rate: The Evidence;由于货币供给可由中央银行控制，故为外生变量;Md ($Y);Md ($Y);Md ($Y);4. 货币供给的变动 （Open Market Operations）;5. Monetary Policy and Open Market Operations;For Example, Assume:;Step 1: Central bank buys bonds. Step 2: The central bank injects money (currency) into the economy to pay for the bonds. Step 3: The demand for bonds increases, causing the price of bonds to rise. Step 4: When the price of bonds increases, the interest rate falls.;A Summary:;§3. LM 曲线;Deriving the LM Curve;Deriving the LM Curve;Shifts of the LM Curve;第三章 IS-LM模型与宏观经济政策;i;§2. 财政政策与利息率;An increase in taxes shifts the IS curve to the left, and leads to a decrease in the equilibrium level of output and the equilibrium interest rate.;Monetary contraction, or monetary tightening, refers to a decrease in the money supply. An increase in the money supply is called monetary expansion. Monetary policy does not affect the IS curve, only the LM curve. For example, an increase in the money supply shifts the LM curve down. ;Monetary expansion leads to higher output and a lower interest rate.;Using a Policy M