ch08 Balance-of-Payments and Exchange-Rate Determination 国际货币与 及金融经济学英文版课件.pptVIP

Balance-of-Payments and Exchange-Rate Determination;Overview of the Elasticities Approach;Traditional Approaches;The Demand for and Supply of Foreign Exchange;U.S Import Demand and the Demand for the Euro;The Export Supply Curve and the Supply of the Euro;Elasticity of Export Supply and the Elasticity of Foreign Exchange Supply;The Effect of Exchange Rate Changes;The Responsiveness of Imports and Exports;Surpluses and Deficits;The Current Account;The Role of Elasticity;The Marshall-Lerner Condition;The J-Curve Effect;The J-Curve;Pass-Through Effects;The Absorption Approach;Expenditures;Real Income;The Current Account;Current Account Determination;Contractions and Expansions;Consider the case of an economic expansion. Real income rises, thereby increasing real expenditures or absorption. Whether the current account balance improves or worsens depends on the relative changes in these two variables.;Current Account Adjustment;Exchange Rate Determination;Policy Implications;Policy Instruments;Policy Instruments, Continued;Conclusion