《国际经济学》第10章 开放经济框架-英文教学课件（非AI生成）.ppt

Chapter10

AnOpenEconomyFrameworkAggregateProductionandtheFlowofIncomeINTERNATIONALMONETARYANDFINANCIALECONOMICSThirdEdition1

GrossDomesticProductEconomiststracktheoveralloraggregateamountofeconomicactivityusinggrossdomesticproduct(GDP)GDPisthemarketvalueofallfinalgoodsandservicesproducedwithinanation’sbordersduringagiventimeperiod.2

NominalGDPhasincreasedeachyearinSouthKorea,Mexico,GermanyandtheUnitedStatesfortworeasons:anincreaseinproductionandariseinthepricelevel.GrowthofNominalGDP3

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NominalversusRealNominalGDPmeasuresthecurrentmarketvalueofallfinalgoodsandservicesproducedwithinanation’sbordersduringagiventimeperiod.RealGDP,incontrast,isaprice-adjustedmeasureofaggregateoutput.RealGDPiscalculatedbydividingnominalGDPbytheGDPpricedeflator.8

PriceMeasuresTheGDPpricedeflatorisameasureoftheoverallpricelevelofaneconomy.Theconsumerpriceindex(CPI)isaweightedsumofpricesofgoodsandservicesthatthegovernmentdeterminesatypicalconsumerpurchaseseachyear.Theproducerpriceindex(PPI)isaweightedaverageofthepricesofgoodsandservicesthatthegovernmentdeterminesatypicalbusinessreceivesfromsellingitsproductsduringagivenyear.9

TheGDPPriceDeflatorNominalGDP(Y)isgivenby:Y≡y?P,whereydenotesrealGDPandPisameasureoftheoverallpricelevel.EconomistsrefertoPastheGDPdeflator,whichbyrearrangementyieldsrealGDP:y≡Y/P.10

TheGDPDeflatorandRealandNominalGDPTheleft-handpanelshowsannualvaluesoftheGDPdeflatorforSouthKorea.Theright-handpaneldisplaysnominalandrealGDP.11

U.S.GDPDeflatorandConsumerPriceIndex.AlthoughtheGDPdeflatorandtheCPIarecomputeddifferently,theytendtomoveverycloselytogetherovertime.red：GDPdeflatorblue：CPI12

RealIncomeandExpendituresRealincomemustequalthesumofrealconsumption(c),realsavi