宏观经济学课件第四章古典宏观经济模型

1、古典宏观经济模型 古典模型的基本内容The Classical View A “price adjustment mechanism” would cure the economy. In the event of unemployment, prices, wages, and interest rates would all fall. This would increase consumption, production, and investment and quickly return the economy back to its full employment equilibri

2、um.Laissez-Fair EconomicsOne school of economics - the Classical approach - believes that the best cure for a recession is to leave the free market alone.This approach is also known as “laissez-faire,” and laissez faire economists are those who believe that most government policies will probably mak

3、e things worse-not better-so the best policy is relatively little governmentClassical Economics Has its roots in the free market writings of Adam Smith, David Ricardo, and Jean Baptiste Say. Unemployment is a natural part of the business cycle and is self-correcting. There is no need for government

4、intervention.Classical Unemployment Unemployment results when wages are too high. In the event of a recession, unemployed workers would be willing to work for less. Wages would then fall back down to levels where it once again made it profitable for firms to hire the workers and the recession would

5、end.There Is No Cyclical Unemployment Classical economists agreed that frictional and structural unemployment could exist, but they did not agree that cyclical unemployment could be caused by a shortage of aggregate demand.The Two Pillars of Classical Economics These two pillars支柱 are Says Law and t

6、he Quantity Theory of Money. Says Law “Supply creates its own demand.” But what does this really mean?How Says Law Works When people work to produce goods and services, they earn income for doing so. Says Law states that the total income generated by this work must equal the value of the goods and s

7、ervices. Thus, if the workers spend this income, it must be enough to pay for all the goods and services they produce. Therefore, supply creates its own demand.Thomas Malthus Critique Suppose income earners dont spend all their money and instead save some of it? Thats exactly the problem Thomas Malt

8、hus raised. Malthus said that if people didnt spend all of their money, there would be a general glut充斥、过剩 of goods and people would be out of work.Says Response It doesnt matter if people save some of their money because all of these savings will, in turn, be invested in the economy. Therefore aggr

9、egate demand, which equals consumption plus investment, will always equal aggregate supply.SavingsBankHouseholdsInvestmentFirms(Production)ConsumptionBanking and FinanceUnemployment Would Go Away Says law didnt say unemployment couldnt exist. If wages, prices, and interest rates were allowed to adju

10、st, unemployment would go away on its own.The Quantity Theory of Money Classical economists supported their Says Law analysis with the quantity theory of money. The quantity theory of money determines the price level while Says Law analysis determines real output.The Equation Of Exchange M * V = P *

11、 Q M equals the money supply. V is the velocity of money or the amount of income generated each year by a dollar of money. P is the general price level as measured by an index such as the consumer price index. Q is the quantity of real output sold.M * V = P * Q The quantity theory of money says that

12、 the price level varies in response to changes in the quantity of money. Changes in the price level are caused simply by changes in the money supply. If the money supply goes up by 20 percent, prices go up by 20 percent.Two Important Assumptions1. Velocity is constant.2. Veil面纱 of Money: Real output

13、 is not influenced by the money supply. It doesnt matter how much money the government prints, it will not increase the amount of goods and services that the economy can actually produce. Looking at MV=PQ, why will increasing the money supply will only lead to inflation?MV=PQ If V is constant on the

14、 left side and Q on the right side is unaffected by M, the only thing that can change if M changes, is P. 劳动力市场与充分就业均衡 生产函数：Y=F(N,K)NYY=F(N,K)O 劳动力需求与供给NsNdEW/PNON AD-AS模型QuAS1AD1P1OutputThe AS-AD FrameworkADReal domestic output, GDPIt shows the various amounts of real output that domestic consumers

15、, businesses, and government along with foreign buyers collectively desire to purchase at each possible price.ADReal domestic output, GDPThe downward slope of the aggregate demand curve means that as the general price level falls, consumers and businesses will increase their demand for goods and ser

16、vices.ADReal domestic output, GDPADReal domestic output, GDPADReal domestic output, GDPADReal domestic output, GDPWhy The AD Curve Can Shift Aggregate demand is the graph showing the various amounts of real output that would be purchased at each possible price level, holding other things constant. B

17、ut what are these “other things” we are talking about?1. Change in consumer spendinga. Consumer wealthb. Consumer expectationsc. Household indebtedness or credit conditionsd. Tax policy2. Change in investment spendinga. Interest ratesb. Profit expectations on investment projectsc. Business taxesd. T

18、echnologye. Degree of excess capacity3. Change in government spending4. Change in net export spendinga. National income abroadb. Exchange rates1. Change in consumer spendinga. Consumer wealthb. Consumer expectationsc. Household indebtedness or credit conditionsd. Tax policy2. Change in investment sp

19、endinga. Interest ratesb. Profit expectations on investment projectsc. Business taxesd. Technologye. Degree of excess capacity3. Change in government spending4. Change in net export spendinga. National income abroadb. Exchange rates1. Change in consumer spendinga. Consumer wealthb. Consumer expectat

20、ionsc. Household indebtedness or credit conditionsd. Tax policy2. Change in investment spendinga. Interest ratesb. Profit expectations on investment projectsc. Business taxesd. Technologye. Degree of excess capacity3. Change in government spending4. Change in net export spendinga. National income ab

21、roadb. Exchange rates1. Change in consumer spendinga. Consumer wealthb. Consumer expectationsc. Household indebtedness or credit conditionsd. Tax policy2. Change in investment spendinga. Interest ratesb. Profit expectations on investment projectsc. Business taxesd. Technologye. Degree of excess capa

22、city3. Change in government spending4. Change in net export spendinga. National income abroadb. Exchange rates1. Change in consumer spendinga. Consumer wealthb. Consumer expectationsc. Household indebtedness or credit conditionsd. Tax policy2. Change in investment spendinga. Interest ratesb. Profit

23、expectations on investment projectsc. Business taxesd. Technologye. Degree of excess capacity3. Change in government spending4. Change in net export spendinga. National income abroadb. Exchange rates1. Change in consumer spendinga. Consumer wealthb. Consumer expectationsc. Household indebtedness or

24、credit conditionsd. Tax policy2. Change in investment spendinga. Interest ratesb. Profit expectations on investment projectsc. Business taxesd. Technologye. Degree of excess capacity3. Change in government spending4. Change in net export spendinga. National income abroadb. Exchange rates1. Change in

25、 consumer spendinga. Consumer wealthb. Consumer expectationsc. Household indebtedness or credit conditionsd. Tax policy2. Change in investment spendinga. Interest ratesb. Profit expectations on investment projectsc. Business taxesd. Technologye. Degree of excess capacity3. Change in government spend

26、ing4. Change in net export spendinga. National income abroadb. Exchange rates1. Change in consumer spendinga. Consumer wealthb. Consumer expectationsc. Household indebtedness or credit conditionsd. Tax policy2. Change in investment spendinga. Interest ratesb. Profit expectations on investment projec

27、tsc. Business taxesd. Technologye. Degree of excess capacity3. Change in government spending4. Change in net export spendinga. National income abroadb. Exchange rates1. Change in consumer spendinga. Consumer wealthb. Consumer expectationsc. Household indebtedness or credit conditionsd. Tax policy2.

28、Change in investment spendinga. Interest ratesb. Profit expectations on investment projectsc. Business taxesd. Technologye. Degree of excess capacity3. Change in government spending4. Change in net export spendinga. National income abroadb. Exchange ratesASOutputThe AS-AD Framework1. Change in input

29、 pricesa. Domestic resource availabilitya. Landb. Laborc. Capitald. Entrepreneurial abilityb. Prices of imported resourcesc. Market power2. Change in technology and productivity3. Change in legal-institutional environmenta. Business taxes and subsidiesb. Government regulations1. Change in input pric

30、esa. Domestic resource availabilitya. Landb. Laborc. Capitald. Entrepreneurial abilityb. Prices of imported resourcesc. Market power2. Change in technology and productivity3. Change in legal-institutional environmenta. Business taxes and subsidiesb. Government regulations1. Change in input pricesa.

31、Domestic resource availabilitya. Landb. Laborc. Capitald. Entrepreneurial abilityb. Prices of imported resourcesc. Market power2. Change in technology and productivity3. Change in legal-institutional environmenta. Business taxes and subsidiesb. Government regulations1. Change in input pricesa. Domes

32、tic resource availabilitya. Landb. Laborc. Capitald. Entrepreneurial abilityb. Prices of imported resourcesc. Market power2. Change in technology and productivity3. Change in legal-institutional environmenta. Business taxes and subsidiesb. Government regulations1. Change in input pricesa. Domestic r

33、esource availabilitya. Landb. Laborc. Capitald. Entrepreneurial abilityb. Prices of imported resourcesc. Market power2. Change in technology and productivity3. Change in legal-institutional environmenta. Business taxes and subsidiesb. Government regulations1. Change in input pricesa. Domestic resour

34、ce availabilitya. Landb. Laborc. Capitald. Entrepreneurial abilityb. Prices of imported resourcesc. Market power2. Change in technology and productivity3. Change in legal-institutional environmenta. Business taxes and subsidiesb. Government regulations1. Change in input pricesa. Domestic resource av

35、ailabilitya. Landb. Laborc. Capitald. Entrepreneurial abilityb. Prices of imported resourcesc. Market power2. Change in technology and productivity3. Change in legal-institutional environmenta. Business taxes and subsidiesb. Government regulationsThree Ranges of the EconomyThree Ranges of the EconomyThree Ranges of th