经济学原理6.ppt

Chapter6,AggregateSupplyandUnemployment,6.1AggregateSupply,1.DefinitionThetotalquantityofgoodsandservicesthatthenationsbusinessarewillingtoproduceandsellinagivenperiod.,Aggregatedemandanditscurve,Aggregatedemand:Thetotalamountthatdifferentsectorsintheeconomywillinglyspendinagivenperiod.,Aggregatesupplycurve:Representtheleveloftotalnationaloutputthatwillbeproducedateachpossiblepricelevel,otherthingsholdingconstant.,2.DeterminationsofAS,PotentialoutputInputscost,1)Potentialoutput,Definition:Representsthemaximumamounttheeconomycanproducewhilemaintainingreasonablepricestability.Itisthehighestsustainablelevelofnationaloutput.Thatis,theoutputwouldbeproducedatabenchmarkleveloftheunemploymentratecalledthelowestsustainableunemploymentrate(LSUR).,SustainablelevelofpotentialoutputTheoutputbetweentheextremesofhighandlowutilizationofcapacity.Factorsaffectingpotentialoutput(P.559),2)Inputscosts,Whenthecostsrise,businessesarewillingtosupplyagivenlevelofoutputonlyatahigherpricelevelinordertomaintaintheprofitlevel.Factorsaffectingcosts(P.559),3.ShiftsoftheASCurve,ShiftsrightwardorleftwardbypotentialoutputShiftsupwardordownwardbyinputscostsCo-effectofpotentialoutputandcosts,1)Shiftsrightwardorleftwardbypotentialoutput,ThefigureshowsthatanincreaseinpotentialoutputwithnochangeinproductioncostswouldshiftstheAScurverightward(outward)fromAS1toAS2.,AS1,AS2,2)Shiftsupwardordownwardbyinputscosts,Thefigureshowswhenthecostsincreasewithnochangeinpotentialoutput,theAScurvewillshiftstraightupfromAS1toAS2.,3)co-effectofoutputandcosts,Potentialoutputandcostsrise,ASshiftsrightwardandupward,Potentialoutputandcostsfall,ASshiftsleftwardanddownward,Potentialoutputrisesandcostsfall,ASshiftsrightwardanddownward,Potentialoutputfallsandcostsrise,ASshiftsleftwardandupward,4.AggregateSupplyintheShortRunandLongRun,Controversy:AScurveisflat,orsteep,orevenvertical?AggregatesupplyintheshortrunAggregatesupplyinthelongrunReasonstothedifferencebetweenlongandshortrunAScurve,1)Controversy:flat,steep,vertical,KeynesianSchool:TheAScurveisrelativelyflatintheshortrun.ClassicalApproach:TheAScurveisverysteepevenvertical,thechangesonaggregatedemandhavelittlelastingeffectonoutput.,2)Aggregatesupplycurveintheshortrun,3)Aggregatesupplycurveinthelongrun,4)ReasonstothedifferencebetweenlongandshortrunAScurve,Short-run:wagesandpricesareinflexibleorstickyLong-run:wagesandpricesareunstuckandnegotiable,6.2unemployment,MeasurementofunemploymentOkunslawReasonsofunemploymentlabormarketissuesImpactofunemployment,1.Measurementofunemployment,BasicconceptionEmployed:peoplewhoperformanypaidwork.(includespeoplewhohavejobsbutareabsentfromworkbecauseofillness,strikes,orvacations),unemployed:peoplewhoarenotemployedbutareactivelylookingforworkorwaitingtoreturntowork.Itconcludestheconditionfollowed:Ifheorsheisnotworkingand:i)hasmadespecificeffortstofindajobduringthelast4weeks;ii)hasbeenlaidofffromajobandiswaitingtoberecalled;iii)hasgetajobandiswaitingtoreportinthenextmonth,Notinthelaborforce:suchasthepeoplewhoiskeepinghouse,retired,tooilltowork,ornotlookingforwork.Laborforce:includestheemploymentandtheunemployment.Unemploymentrate:thenumberofunemploymentdividedbythetotallaborforce.,2.Okunslaw,1)content:Forevery2percentthatGDPfallsrelativetopotentialGDP,theunemploymentraterisesabout1percentagepoint.so,actualGDPmustgrowasrapidlyaspotentialGDPjusttokeeptheunemploymentratefromrising.,2)ExamplePotentialGDPgrewat3percentperyear,increasingatotalof9percentoverthe3-yearperiod.Bycontrast,theactualGDPdidnotgrowatallduring1979-1982.Whatisthemovementoftheunemploymentrate?(theunemploymentrateis5.8%in1979.),3.Reasonsofunemployment,ThreekindsofunemploymentVoluntaryandinvoluntaryunemploymentSomeexamples,1)Threekindsofunemployment,FrictionalunemploymentDefinition:Akindofunemploymentwhicharisesbecauseoftheincessantmovementofpeoplebetweenregionsandjobsorthroughdifferentstageofthelifecycle.affectingfactors,StructuralunemploymentDefinition:Akindofunemploymentwhicharisesbecauseofamismatchbetweenthesupplyofanddemandforworkers.Factors,CyclicalunemploymentDefinition:Akindofunemploymentwhicharisesbecauseofthefallingoftheoveralldemandforlabor.,Mechanismofcyclicalunemployment,2)VoluntaryandInvoluntaryunemployment,3)Someexamples,4.LabormarketIssues,Thedifferenceofunemp