国际经融学（International Finance）.docVIP

国际经融学（International Finance） Review of international finance... Source: Yang Danjuns Journal Balance of payments: system record of all foreign economic transactions in a country for a given period of time. It embodies the foreign economic relations of a country. It is the concept of currency, flow and afterwards. Balance of payments: an accounting statement of the balance of payments in accordance with specific account classification and double entry accounting principles. Voluntary Trading: transactions conducted by individuals and enterprises for certain autonomous purposes (such as chasing profits, traveling, remittances, supporting relatives, friends, etc.). Compensatory transactions: transactions that compensate for imbalances in balance of payments. Meades conflict: when the exchange rate is fixed, the government can only adjust the internal and external equilibrium with the policy of influencing the aggregate demand of society. In this way, there will be no balance between internal and external balance in the special areas where the economy is open. Marshall Lerner condition: after the devaluation of the currency, only the export price elasticity of demand and the price of imported goods and demand elasticity is greater than 1, which can improve the balance of sweater, devaluation is essential to the success of |Ex|: |Em|1 Premise: the commodity supply is fully elastic (the price of the local currency of the export commodity and the foreign price of the imported goods does not change) J curve effect: in the establishment of the Marshall Lerner condition, due to depreciation of the impact on the trade balance of the time lag effect, so after devaluation may make the trade balance first deteriorated over a period of time, the export supply and import demand has been adjusted, slowly began to improve the trade balance. Terms of trade: trade terms, also called exchange rates, refer to the ratio between the unit price index of export commodities and the unit price