【PPT精品课件】货币金融学7版英文课件--ch23-大学课

Chapter23TheKeynesianFrameworkandtheISLMModel©2005PearsonEducationCanadaInc.23-2DeterminationofOutputKeynesianISLMModelassumespricelevelisfixedAggregateDemandYad=C+I+G+NXEquilibriumY=YadConsumptionFunctionC=a+(mpcYD)Investment1.Fixedinvestment2.InventoryinvestmentOnlyplannedinvestmentisincludedinYad©2005PearsonEducationCanadaInc.23-3ConsumptionFunction©2005PearsonEducationCanadaInc.23-4KeynesianCrossDiagramAssumeG=0,NX=0,T=0Yad=C+I=200+.5Y+300=500+.5YEquilibrium:1.WhenYY*,Iu0YtoY*2.WhenYY*,Iu0YtoY*©2005PearsonEducationCanadaInc.23-5ExpenditureMultiplier©2005PearsonEducationCanadaInc.23-6AnalysisofFigure3:ExpenditureMultiplierI=+100Y/I=200/100=21Y=(a+I)1–mpcA=a+I=autonomousspendingConclusions:1.Expendituremultiplier=Y/A=1/(1–mpc)whetherchangeinAisduetochangeinaorI2.AnimalspiritschangeA©2005PearsonEducationCanadaInc.23-7TheGreatDepressionandtheCollapseofInvestment©2005PearsonEducationCanadaInc.23-8RoleofGovernment©2005PearsonEducationCanadaInc.23-9AnalysisofFigure23-5:RoleofGovernmentG=+400,T=+4001.WithnoGandT,Yd=C+I=500+mpcY=500+.5Y,Y1=10002.WithG,Y=C+I+G=900+.5Y,Y2=18003.WithGandT,Yd=900+mpcY–mpcT=700+.5Y,Y3=1400Conclusions:1.GY;TY2.G=T=+400,Y400©2005PearsonEducationCanadaInc.23-10RoleofInternationalTradeNX=+100,Y/NX=200/100=2=1/(1–mpc)=1/(1–.5)©2005PearsonEducationCanadaInc.23-11Summary:FactorsthatAffectY23-12ISCurveIScurve1.iINX,Yad,YPoints1,2,3infigure2.RightofIS:YYadYtoISLeftofIS:YYadYtoIS©2005PearsonEducationCanadaInc.23-13LMCurveLMcurve1.Y,Md,iPoints1,2,3infigure2.RightofLM:excessMd,itoLMLeftofLM:excessMs,itoLM©2005PearsonEducationCanadaInc.©2005PearsonEducationCanadaInc.23-14ISLMModelPointE,equilibriumwhereY=Yad(IS)andMd=Ms(LM)AtotherpointslikeA,B,C,D,oneoftwomarketsisnotinequilibriumandarrowsmarkmovementtowardspointE