国际财务管理课件网上ch.pptxVIP

Slide 16-2 Copyright © 2003 Pearson Education, Inc. Chapter Organization Determinants of Aggregate Demand in an Open Economy The Equation of Aggregate Demand How Output Is Determined in the Short Run Output Market Equilibrium in the Sort Run: The DD Schedule Asset Market Equilibrium in the Short Run: The AA Schedule Short-Run Equilibrium for an Open Economy: Putting the DD and AA Schedules Together Slide 16-3 Copyright © 2003 Pearson Education, Inc. Temporary Changes in Monetary and Fiscal Policy Inflation Bias and Other Problems of Policy Formulation Permanent Shifts in Monetary and Fiscal Policy Macroeconomic Policies and the Current Account Gradual Trade Flow Adjustment and Current Account Dynamics Summary Chapter Organization Slide 16-4 Copyright © 2003 Pearson Education, Inc. Appendix I: The IS-LM Model and the DD-AA Model Appendix II: Intertemporal Trade and Consumption Demand Appendix III: The Marshall-Lerner Condition and Empirical Estimates of Trade Elasticities Chapter Organization Slide 16-5 Copyright © 2003 Pearson Education, Inc. Introduction Macroeconomic changes that affect exchange rates, interest rates, and price levels may also affect output. This chapter introduces a new theory of how the output market adjusts to demand changes when product prices are themselves slow to adjust. A short-run model of the output market in an open economy will be utilized to analyze: The effects of macroeconomic policy tools on output and the current account The use of macroeconomic policy tools to maintain full employment Slide 16-6 Copyright © 2003 Pearson Education, Inc. Determinants of Aggregate Demand in an Open Economy Aggregate demand The amount of a country’s goods and services demanded by households and firms throughout the world. The aggregate demand for an open economy’s output consists of four components: Consumption demand (C) Investment demand (I) Government demand (G) Current account (CA) Slide 16-7 Copyright © 2003 Pearson Education, Inc. Determinant