(国际经济学教材）ch12 NIA and the BP.pptVIP

Chapter 12 National Income Accounting and the Balance of Payments 2 Two essential tools for studying the macroeconomics of open, interdependent economies. National income accounting Records all the expenditures that contribute to a country’s income and output Balance of payments accounting Helps us keep track of both changes in a country’s indebtedness to foreigners and the fortunes of its export- and import-competing industries Introduction 3 The National Income Accounts Gross national product (GNP) The value of all final goods and services produced by a country’s factors of production and sold on the market in a given time period It is the basic measure of a country’s output. Y = C + I + G + EX – IM 4 The Balance of Payments A country’s balance of payments accounts keep track of both its payments to and its receipts from foreigners. Constitution of Balance of Payments: Current Account Capital and Financial Account The Statistical Discrepancy (orNet Error and Omissions) Official Reserve Transactions 5 three categories(p311): Merchandise trade Exports or imports of goods Services Payments for legal assistance, tourists’ expenditures, and shipping fees Income International interest and dividend payments and the earnings of domestically owned firms operating abroad The Current Account 8 讨论：我国的误差与遗漏  单位(亿美元) 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 -86.3 -13.7 -10.1 9 -31.3 -67.5 -82.5 -98 -97.6 -178.1 -155.7 -169.5 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 -165.8 -148 -119 -48.6 78 184.2 270 -168 -130 164 -261 -435 9 Official international reserves Foreign assets held by central banks as a cushion against national economic misfortune Official foreign exchange intervention Central banks often buy or sell international reserves in private asset markets to affect macroeconomic conditions in their economies. Official Reserve Transactions 10 Current Account Balance