(国际金融学英文课件）IF5Adjustments in the Balance of Payments the Price Adjustment Mechanism.ppt

Adjustments in the Balance of Payments: the Price Adjustment Mechanism Chapter Five outline 1.Introduction 2.Adjustment under flexible system (1) Balance of payments adjustments with exchange rate changes (2) Stable and unstable FOREX market (3) The Marshall-Lerner condition (4) Elasticities and J curves 3. Adjustment under fixed system (1)Gold standard (2) The Price-Specie-Flow Mechanism 1.Introduction We examine how a deficit or surplus in a nation’s balance of payments can be corrected by price changes , income under a fixed and flexible exchange rate system. The methods of correctin