国际经济学复习范围

7《国际经济学》复习范围题型：名词解释(共5小题，每小题3分，共15分)判断题(共15小题，每小题1分，共15分)简答题(共5小题，每小题8分，共40分)论述题(共2题，每题15分，共30分)范围：I.Explainthefollowingterms.InterindustrytradeIntraindustrytradeIntraproducttradeTheBalanceofPaymentAcountrysbalanceofpaymentsaccountskeeptrackofbothitspaymentstoanditsreceiptsfromforeigners.Everyinternationaltransactionautomaticallyentersthebalanceofpaymentstwice:onceasacredit(+)andonceasadebit(-).ComparativeAdvantageAcountryhasacomparativeadvantageinproducingagoodsiftheopportunitycostofproducingthatgoodsintermsofothergoodsislowerinthatcountrythanitisinothercountries.Stolper-SamuelsonTheorem(effect)Iftherelativepriceofagoodincreases,holdingfactorsuppliesconstant,thenthenominalandrealreturn(intermsofbothgoods)tothefactorusedintensivelyintheproductionofthatgoodincreases,whilethenominalandrealreturn(intermsofbothgoods)totheotherfactordecreases.Thereverseisalsotrue.Heckscher-OhlinTheoremAcountrywillexportthatcommoditywhichusesintensivelyitsabundantfactorandimportthatcommoditywhichusesintensivelyitsscarcefactor.Factor-PriceEqualizationTheoremInternationaltradeleadstocompleteequalizationintherelativeandabsolutereturnstohomogeneousfactorsacrosscountries.Itimpliesthatinternationaltradeisasubstitutefortheinternationalmobilityoffactors.OptimumtariffThetariffratethatmaximizesnationalwelfareItisalwayspositivebutlessthantheprohibitiveratethatwouldeliminateallimports.Itiszeroforasmallcountrybecauseitcannotaffectitstermsoftrade.ExchangeRateOvershootingpurchasingpowerparity(PPP)Theexchangeratebetweentwocountiescurrenciesequalstheratioofthecountiespricelevels.Itcomparesaveragepricesacrosscountries.LawofonepriceIdenticalgoodssoldindifferentcountriesmustsellforthesamepricewhentheirpricesareexpressedintermsofthesamecurrency.TheFisherEffectItisahypothesisininternationalfinancethatsuggestsdifferencesinnominalinterestratesreflectexpectedchangesinthespotexchangeratebetweencountries.hehypothesisspecificallystatesthataspotexchangerateisexpectedtochangeequallyintheoppositedirectionoftheinterestratedifferential.TheJ-CurveIfimportsandexportsadjustgraduallytorealexchangeratechanges,theCAmayfollowaJ-curvepatternafterarealcurrencydepreciation,firstworseningandthenimproving.ItdescribesthetimelagwithwhicharealcurrencydepreciationimprovestheCA.managedfloatingexchangeratesAsysteminwhichgovernmentsattempttomoderateexchangeratemovementswithoutkeepingexchangeratesrigidlyfixed.sterilizedinterventionCentralbankssometimescarryoutequalforeignanddomesticassettransactionsinoppositedirectionstonullifytheimpactoftheirforeignexchangeoperationsonthedomesticmoneysupply.CapitalflightThereservelossaccompanyingadevaluationscareTheassociateddebitinthebalanceofpaymentsaccountsisaprivatecapitaloutflow.vehiclecurrencyAcurrencythatiswidelyusedtodenominateinternationalcontractsmadebypartieswhodonotresideinthecountrythatissuesthevehiclecurrency./r/erestparityInterestParity:TheBasicEquilibriumConditionTheforeignexchangemarketisinequilibriumwhendepositsofallcurrenciesofferthesameexpectedrateofreturn.Theexpectedreturnsondepositsofanytwocurrenciesareequalwhenmeasuredinthesamecurrency.20.inflationbiasHighinflationwithnoaveragegaininoutputthatresultsfromgovernments’policiestopreventrecessionGiveaT(True)oraF(False)foreachofthefollowingsayings.涉及每章重要的知识点。Answerthefollowingquestions.．Howaboutthebasicreasonsforwhichcountriesengageininternationaltrade?Countriesengageininternationaltradefortwobasicreasons:Theyaredifferentfromeachotherintermsofclimate,land,capital,labor,andtechnology.Theytrytoachievescaleeconomiesinproduction..WhataboutthebasicviewpointsoftheHeckscher-Ohlintheory?Intherealworld,whiletradeispartlyexplainedbydifferencesinlaborproductivity,italsoreflectsdifferencesincountries’resources.TheHeckscher-Ohlintheory:EmphasizesresourcedifferencesastheonlysourceoftradeShowsthatcomparativeadvantageisinfluencedby:Relativefactorabundance(referstocountries)Relativefactorintensity(referstogoods)Isalsoreferredtoasthefactor-proportionstheory.HowabouttheInternationaleffectsofexport-biasedandimport-biasedgrowth?Export-biasedgrowthintherestoftheworldimprovesourtermsoftrade,whileimport-biasedgrowthabroadworsensourtermsoftrade.Export-biasedgrowthinourcountryworsensourtermsoftrade,reducingthedirectbenefitsofgrowth,whileimport-biasedgrowthleadstoanimprovementofourtermsoftrade..Comparetheeffectsofatariffandofanexportsubsidyonthetermsoftrade.Importtariffsandexportsubsidiesaffectbothrelativesupplyandrelativedemand.RelativeDemandandSupplyEffectsofaTariffTariffsdriveawedgebetweenthepricesatwhichgoodsaretradedinternationally(externalprices)andthepricesatwhichtheyaretradedwithinacountry(internalprices).Thetermsoftradecorrespondtoexternal,notinternal,prices.EffectsofanExportSubsidyTariffsandexportsubsidiesareoftentreatedassimilarpoliciesbuttheyhaveoppositeeffectsonthetermsoftrade.Example:SupposethatHomeoffers20%subsidyonthevalueofclothexported:ThiswillraiseHome’sinternalpriceofclothrelativetofoodby20%.ThiswillleadHomeproducerstoproducemoreclothandlessfood.AHomeexportsubsidyworsensHome’stermsoftradeandimprovesForeign’s..Howtoexplainthateconomiesofscalecanbeeitherexternalandinternal?Economiesofscalecanbeeither:ExternalThecostperunitdependsonthesizeoftheindustrybutnotnecessarilyonthesizeofanyonefirm.Anindustrywilltypicallyconsistofmanysmallfirmsandbeperfectlycompetitive.InternalThecostperunitdependsonthesizeofanindividualfirmbutnotnecessarilyonthatoftheindustry.Themarketstructurewillbeimperfectlycompetitivewithlargefirmshavingacostadvantageoversmall.Bothtypesofscaleeconomiesareimportantcausesofinternationaltrade..Howaboutthebasicreasonswhyaclusteroffirmsmaybemoreefficientthananindividualfirminisolation?Therearethreemainreasonswhyaclusteroffirmsmaybemoreefficientthananindividualfirminisolation:SpecializedsuppliersInmanyindustries,theproductionofgoodsandservicesandthedevelopmentofnewproductsrequirestheuseofspecializedequipmentorsupportservices.Anindividualcompanydoesnotprovidealargeenoughmarketfortheseservicestokeepthesuppliersinbusiness.Alocalizedindustrialclustercansolvethisproblembybringingtogethermanyfirmsthatprovidealargeenoughmarkettosupportspecializedsuppliers.LabormarketpoolingAclusteroffirmscancreateapooledmarketforworkerswithhighlyspecializedskills.Itisanadvantagefor:ProducersTheyarelesslikelytosufferfromlaborshortages.WorkersTheyarelesslikelytobecomeunemployed.KnowledgespilloversKnowledgeisoneoftheimportantinputfactorsinhighlyinnovativeindustries.Thespecializedknowledgethatiscrucialtosuccessininnovativeindustriescomesfrom:ResearchanddevelopmenteffortsReverseengineeringInformalexchangeofinformationandideas.Howabouttheeffectsofanexportsubsidy?ExportsubsidyApaymentbythegovernmenttoafirmorindividualthatshipsagoodabroadItcanbeeitherspecificoradvalorem.Anexportsubsidyraisespricesintheexportingcountrywhileloweringthemintheimportingcountry.Inaddition,andincontrasttoatariff,theexportsubsidyworsensthetermsoftrade.Anexportsubsidyunambiguouslyleadstocoststhatexceeditsbenefits..Trytocomparetheoptionsofimport-substitutingindustrializationandexport-orientedindustrialization.Atariffthatreducesimportsalsonecessarilyreducesexports.Untilthe1970smanydevelopingcountrieswereskepticalaboutthepossibilityofexportingmanufacturedgoods.Inmanycases,import-substitutingindustrializationpoliciesdovetailednaturallywithexistingpoliticalbiases..Whatarethevolumeeffectandvalueeffectofarealexchangerate?.HowdoesdisposableincomechangesaffecttheCurrentAccount?Anincreaseindisposableincome(Yd)worsenstheCA.AriseinYdcausesdomesticconsumerstoincreasetheirspendingonallgoods..Howabouttheinterestparityconditions?Theexpectedreturnsondepositsofanytwocurrenciesareequalwhenmeasuredinthesamecurrency.Itimpliesthatpotentialholdersofforeigncurrencydepositsviewthemallasequallydesirableassets.Theexpectedratesofreturnareequalwhen:R$=R€+(Ee$/€-E$/€)/E$/€.Howdochangesinthecurrentexchangerateaffectexpectedreturns?Depreciationofacountry’scurrencytodaylowerstheexpecteddomesticcurrencyreturnonforeigncurrencydeposits.Appreciationofthedomesticcurrencytodayraisesthedomesticcurrencyreturnexpectedofforeigncurrencydeposits..Howabouttheeffectofchangingexpectationsonthecurrentexchangerate?TheEffectofChangingExpectationsontheCurrentExchangeRateAriseintheexpectedfutureexchangeratecausesariseinthecurrentexchangerate.Afallintheexpectedfutureexchangeratecausesafallinthecurrentexchangerate..Howaboutthefactorsinfluencingmoneydemand?Threefactorsinfluencemoneydemand:ExpectedreturnRiskLiquidity.Howaboutthelong-runeffectsofmoneysupplychanges?IV.Analyzethefollowingproblemscomprehensively..Pleaseanalyzethetheoryofmultinationalenterprise.TheTheoryofMultinationalEnterpriseTwoelementsexplaintheexistenceofamultinational:LocationmotiveAgoodisproducedintwo(ormore)differentcountriesratherthanonebecauseof:ResourcesTransportcostsBarriersoftradeInternalizationmotiveAgoodisproducedindifferentlocationsbythesamefirmratherthanbyseparatefirmsbecauseitismoreprofitabletocarrytransactionsontechnologyandmanagement.TechnologytransferVerticalintegration.Trytoanalyzetheeffect,costandbenefitofimportingtariff..Trytocomparetemporarychangesinmonetaryandfiscalpolicyandpermanentshiftsinmonetaryandfiscalpolicy(relativetoChina).MonetaryPolicyAnincreaseinmoneysupply(i.e.,expansionarymonetarypolicy)raisestheeconomysoutput.Theincreaseinmoneysupplycreatesanexcesssupplyofmoney,whichlowersthehomeinterestrate.Asaresult,thedomesticcurrencymustdepreciate(i.e.,homeproductsbecomecheaperrelativetoforeignproducts)andaggregatedemandincreases.FiscalPolicyAnincreaseingovernmentspending,acutintaxes,orsomecombinationofthetwo(i.e,expansionaryfiscalpolicy)raisesoutput.Theincreaseinoutputraisesthetransactionsdemandforrealmoneyholdings,whichinturnincreasesth