国际经济学：理论与政策（第十一版）保罗·R.克鲁格曼-C17_Krugman_11e.pptxVIP

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国际经济学：理论与政策（第十一版）保罗·R.克鲁格曼-C17_Krugman_11e.pptx

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International Economics: Theory and PolicyEleventh EditionChapter 17Output and the Exchange Rate in the Short RunCopyright ? 2018, 2015, 2012 Pearson Education, Inc. All Rights Reserved Learning Objectives (1 of 2)17.1 Explain the role of the real exchange rate in determining the aggregate demand for a country’s output.17.2 See how an open economy’s short-run equilibrium can be analyzed as the intersection of an asset market equilibrium schedule (AA) and an output market equilibrium schedule (DD).17.3 Understand how monetary and fiscal policies affect the exchange rate and national output in the short run. Learning Objectives (2 of 2)17.4 Describe and interpret the long-run effects of permanent macroeconomic policy changes.17.5 Explain the relationship among macroeconomic policies, the current account balance, and the exchange rate. PreviewDeterminants of aggregate demand in the short runA short-run model of output markets A short-run model of asset marketsA short-run model for both output markets and asset markets Effects of temporary and permanent changes in monetary and fiscal policiesAdjustment of the current account over timeIS-LM model IntroductionLong-run models are useful when all prices of inputs and outputs have time to adjust.In the short run, some prices of inputs and outputs may not have time to adjust, due to labor contracts, costs of adjustment, or imperfect information about willingness of customers to pay at different prices.This chapter builds on the short-run and long-run models of exchange rates to explain how output is related to exchange rates in the short run.It shows how macroeconomic policies can affect production, employment, and the current account. Determinants of Aggregate Demand (1 of 3)Aggregate demand is the aggregate amount of goods and services that individuals and institutions are willing to buy:consumption expenditureinvestment expendituregovernment purchasesnet expenditure by foreigners: the current account Determinants of Aggreg