最新版曼昆宏观经济学ch12.pptxVIP

Aggregate Demand II: Applying the IS-LM Model;Context;IN THIS CHAPTER, YOU WILL LEARN:;The intersection determines the unique combination of Y and r that satisfies equilibrium in both markets.;Policy analysis with the IS -LM model; causing output income to rise. ;;2. …causing the interest rate to fall ;Interaction between monetary fiscal policy;The Fed’s response to ?G 0;If Congress raises G, the IS curve shifts right.;If Congress raises G, the IS curve shifts right.;;Estimates of fiscal policy multipliers;Shocks in the IS -LM model;Shocks in the IS -LM model;;;;CASE STUDY: The U.S. recession of 2001;CASE STUDY: The U.S. recession of 2001;CASE STUDY: The U.S. recession of 2001;CASE STUDY: The U.S. recession of 2001;CASE STUDY: The U.S. recession of 2001;What is the Fed’s policy instrument?;What is the Fed’s policy instrument?;IS-LM and aggregate demand;;Monetary policy and the AD curve;;IS-LM and AD-AS in the short run long run;The SR and LR effects of an IS shock;The SR and LR effects of an IS shock;The SR and LR effects of an IS shock;;;;;;;THE SPENDING HYPOTHESIS: Shocks to the IS curve;THE SPENDING HYPOTHESIS: Reasons for the IS shift;THE MONEY HYPOTHESIS: A shock to the LM curve;THE MONEY HYPOTHESIS AGAIN: The effects of falling prices;THE MONEY HYPOTHESIS AGAIN: The effects of falling prices;THE MONEY HYPOTHESIS AGAIN: The effects of falling prices;THE MONEY HYPOTHESIS AGAIN: The effects of falling prices;Why another Depression is unlikely;CASE STUDYThe 2008–09 financial crisis recession;Interest rates and house prices;Change in U.S. house price index and rate of new foreclosures, 1999–2009;House price change and new foreclosures, 2006:Q3–2009:Q1;U.S. bank failures by year, 2000–2011;Major U.S. stock indexes (% change from 52 weeks earlier);Consumer sentiment and growth in consumer durables and investment spending;Real GDP growth and unemployment;CHAPTER SUMMARY;CHAPTER SUMMARY