米什金 货币银行学 课件.ppt

,Chapter25,AggregateDemandandSupplyAnalysis,2,MonetaristViewofAD,PY2000V=2M1000ModernQuantityTheoryofMoneyMV=PYImplication:MdeterminesPYifVunrelatedtoMDerivingADCurveM=1000,V=2PY=2000PointA:P=2Y=1000PY=21000PointB:P=1Y=2000PY=12000PointC:P=0.5Y=4000PY=0.54000Conclusion:PY,downwardslopingADShiftinADCurveM:PY,soatgivenP,YADshiftsright,3,TheADCurve,4,KeynesianViewofAD,Yad=C+I+G+NXDownwardSlopingADP,M/P,i,I,NX,Yad,YShiftinADM,M/P,i,I,NX,Yad,YADshiftsrightCorGorTorNX:Yad,YADshiftsrightCompleteCrowdingOutG,iC,I,NXC+I+G+NX=YadunchangedPartialcrowdingout:privatespendingdown,butnotfullyoffsettingG,5,AggregateSupplyinShortRun,UpwardslopeofASInshort-runproductioncostsfixedP,profits,YproducedShiftinASProductioncosts:AtgivenP,profits,YASshiftsleft,6,EquilibriuminShortRun,Equilibrium:AD=ASIfPP*,ASADPtoP*IfPP*,ASYnWages:atgivenP,profits,YproducedASshiftsinuntilY=Ynatlong-runASPanel(b):YYn:wages,ASshiftsinuntilreachpoint2,whereY=YnConclusion:ADshiftsright,Yinshortrunonly;inlongrunonlyP,10,Summary:FactorsthatShiftAS,11,EffectofShiftinASonY,1.Negativesupplyshock:ASshiftsin,YPtopoint22.YYn:wages,ASshiftsoutuntilreturntopoint1Conclusion:ASshiftsin,YPinshortrun,butinlongrunYandPareunchanged,12,ShiftsinLong-RunSupply,Yngrowsovertime,butisshownasfixedinAD/ASdiagramRealBusinessCycleTheory1.Ynfluctuatesalotduetoaggregatesupply(real)shocks2.ShiftsinADsmall3.Conclusion:Businesscyclesduetorealshocks4.SupportsnonactivismHysteresis1.ADshiftsin,naturalrateofunemployment,Ynshiftsin2.Unemploymentstayshigh3.Supportsactivism,13,VietnamWarBuild