MacroeconomicsforBusinesslecture10教学幻灯片讲义.pptVIP

Balance of payments and foreign exchange market * Macroeconomics for Business Lecture 10: Theories of the Balance of Payments and Exchange rate Neoclassical Keynesian Neoclassical explanations of the balance of payments and exchange rate The Neoclassical explanation of the current account Long run Competitiveness resulting from creating a market based economy and producing according to natural comparative advantage Continuous changes in (relative) money stock The flexibility/competitiveness of the exchange rate Short run Shocks (domestic and foreign) Neoclassical explanations of the capital a