曼昆宏观经济学课件.ppt

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31Open-EconomyMacroeconomics:BasicConcepts

Inthischapter,

lookfortheanswerstothesequestions:Howareinternationalflowsofgoodsandassetsrelated?What’sthedifferencebetweentherealandnominalexchangerate?Whatis“purchasing-powerparity,”andhowdoesitexplainnominalexchangerates?1

OPEN-ECONOMYMACROECONOMICS:BASICCONCEPTS2IntroductionOneoftheTenPrinciplesofEconomics

fromChapter1:

Tradecanmakeeveryonebetteroff.Thischapterintroducesbasicconceptsofinternationalmacroeconomics:Thetradebalance(tradedeficits,surpluses)InternationalflowsofassetsExchangerates0

OPEN-ECONOMYMACROECONOMICS:BASICCONCEPTS3Closedvs.OpenEconomiesAclosedeconomydoesnotinteractwithothereconomiesintheworld.Anopeneconomyinteractsfreelywithothereconomiesaroundtheworld.0

OPEN-ECONOMYMACROECONOMICS:BASICCONCEPTS4TheFlowofGoodsServicesExports:

domestically-producedgssoldabroadImports:

foreign-producedgssolddomesticallyNetexports(NX),akathetradebalance

=valueofexports–valueofimports0

Whatdoyouthinkwouldhappento

U.S.netexportsif:A. Canadaexperiencesarecession

(fallingincomes,risingunemployment)B. U.S.consumersdecidetobepatrioticand

buymoreproducts“MadeintheU.S.A.”C. PricesofgoodsproducedinMexicorisefasterthanpricesofgoodsproducedintheU.S.ACTIVELEARNING1

VariablesthataffectNX5

A. Canadaexperiencesarecession

(fallingincomes,risingunemployment) U.S.netexportswouldfall

duetoafallinCanadianconsumers’purchasesofU.S.exportsB. U.S.consumersdecidetobepatrioticand

buymoreproducts“MadeintheU.S.A.” U.S.netexportswouldrise

duetoafallinimportsACTIVELEARNING1

Answers6

C. PricesofMexicangoodsrisefasterthanpricesofU.S.goods ThismakesU.S.goodsmoreattractiverelativetoMexico’sgoods. ExportstoMexicoincrease,

importsfromMexicodecrease,

s

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