《西方经济学原理》Chap 30 Open-Economy Macroeconomics

ECSENOMICS Chapter 30 Open-Economy Macroeconomics McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Chapter 30 Open-Economy Macroeconomics

ECSENOMICS U.S. Net Exports Turned Sharply Negative in 1980S T-221 Figure 30-1 19501955196019651970 197519801985199019952000 Year McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. T-221 Figure 30-1 U.S. Net Exports Turned Sharply Negative in 1980s

ECSENOMICS Adding Net Exports to Domestic Demand Gives Equilibrium gDP in the Open Economy T222 Figure 30-2 CIDG N deficit 30 第59 2.500 3.000 4.000 Gross domestic product (billions of dollars) McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Adding Net Exports to Domestic Demand Gives Equilibrium GDP in the Open Economy T-222 Figure 30-2

ECSENOMICS Net Exports Can Help or Hurt S Depending upon Domestic Demand T223 igure 30-3 Fi 100 =号 □100 200 口300 400 1960 1965 1970 1975 1980 1985 1990 2000 Yea McGraw-Hilllrwin Source: U.S. Department of Commerce

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Net Exports Can Help or Hurt Depending upon Domestic Demand T-223 Figure 30-3 Source: U.S. Department of Commerce

ECSENOMICS The Foreign Exchange Value of the dollar T224 Figure 30-4 High current account deficit Collapse ol Bretten Woods system Period of light money First oil shock High U.s. tnterest rates dollar Persian Gulf war 1985 190 McGraw-Hilllrwin Source: Federal Reserve System

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. The Foreign Exchange Value of the Dollar T-224 Figure 30-4 Source: Federal Reserve System

ECSENOMICS Trade and Exchange Rates T225 Figure 30-5 3.5 130 3.0 120 2.5 10 1.5 100 a1.0 是0.5 90 0.5 Trade deficit/GDP Real effective exchange rate (left scale) (right scale) 1980 1985 1990 1995 2000 Y McGraw-Hilllrwin Source: Council of Economic Advisors, Economic Report of the President, 2000

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Trade and Exchange Rates T-225 Figure 30-5 Source: Council of Economic Advisors, Economic Report of the President, 2000

ECSENOMICS National Investment and Economic growth T226 Figure 30-6 0.07 South korea 06 00 Italy 0.03 ● france ● West Germany 0.02 Bangladesh Mexico●US.A 0.01 0.2 National savings Rate (percent per year, 1960-1990) McGraw-Hilllrwin Source: World bank

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. National Investment and Economic Growth T-226 Figure 30-6 Source: World Bank

ECSENOMICS Saving and Investment in the Closed Economy T227 Figure 30-7 ST G口 sT口 I(r) Investment, saving McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Saving and Investment in the Closed Economy T-227 Figure 30-7

ECSENOMICS Saving and Investment in a Small Open Economy T228 Figure 30-8 Domestic I Domestic S L.S. X Investment, saving, net exports McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Saving and Investment in a Small Open Economy T-228 Figure 30-8

ECSENOMICS Business climate affects interest Rate and Investment Level T229 Figure 30-9 (b) High-Risk Country vE2 lew risk r Investment, saving Investment, saving McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Business Climate Affects Interest Rate and Investment Level T-229 Figure 30-9