【PPT精品课件】货币金融学7版英文课件--ch25-大学课

Chapter25AggregateDemandandSupplyAnalysis©2005PearsonEducationCanadaInc.25-2MonetaristViewofADPY2000V===2M1000ModernQuantityTheoryofMoneyMV=PYImplication:MdeterminesPYifVunrelatedtoMDerivingADCurveM=1000,V=2PY=2000PointA:P=2Y=1000PY=21000PointB:P=1Y=2000PY=12000PointC:P=.5Y=4000PY=.54000Conclusion:PY,downwardslopingADShiftinADCurveM:PY,soatgivenP,YADshiftsright©2005PearsonEducationCanadaInc.©2005PearsonEducationCanadaInc.25-3TheADCurve25-4KeynesianViewofADYad=C+I+G+NXDownwardSlopingADP,M/P,i,I,NX,Yad,YShiftinADM,M/P,i,I,NX,Yad,YADshiftsrightCorGorTorNX:Yad,YADshiftsrightCompleteCrowdingOutG,iC,I,NXC+I+G+NX=YadunchangedPartialcrowdingout:privatespendingdown,butnotfullyoffsettingG©2005PearsonEducationCanadaInc.©2005PearsonEducationCanadaInc.25-5AggregateSupplyinShortRunUpwardslopeofASInshort-runproductioncostsfixedP,profits,YproducedShiftinASProductioncosts:AtgivenP,profits,YASshiftsleft©2005PearsonEducationCanadaInc.25-6EquilibriuminShortRunEquilibrium:AD=ASIfPP*,ASADPtoP*IfPP*,ASADPtoP*25-7EquilibriuminLongRunPanel(a):YYnWages:atgivenP,profits,YproducedASshiftsinuntilY=Ynatlong-runASPanel(b):YYnWages:atgivenP,profits,YproducedASshiftsoutuntilY=Ynatlong-runASActivistseesmovementtolong-runAS(self-correctingmechanism)asslow;nonactivistseesasfast©2005PearsonEducationCanadaInc.©2005PearsonEducationCanadaInc.25-8Summary:FactorsthatShiftAD25-9EffectofShiftinADonY1.ADshiftsright:YPtopoint1'2.YYn:wages,ASshiftsinuntilreachpoint2,whereY=YnConclusion:ADshiftsright,Yinshortrunonly;inlongrunonlyP©2005PearsonEducationCanadaInc.25-10Summary:FactorsthatShiftAS©2005PearsonEducationCanadaInc.25-11EffectofShiftinASonY1.Negativesupplyshock:ASshiftsin,YPtopoint22.YYn:wages,ASshiftsoutuntilreturntopoint1Conclusion:ASshiftsin,YPinshortrun,butinlongrunYandPareunchanged©2005PearsonEducationCanadaInc.25-12ShiftsinLong-RunSupplyYngrowsovertime,butisshownasfixedinAD/ASdiagramRealBusinessCycleTheory1.Ynfluctuatesalotduetoaggregatesupply(real)shocks2.ShiftsinADsmall3.Conclusion:Businesscyclesduetorealshocks4.SupportsnonactivismHysteresis1.ADshiftsin,naturalrateofunemployment,Ynshiftsin2.Unemploymentstayshigh3.Supportsactivism©2005PearsonEducationCanadaInc.©2005PearsonEducationCanadaInc.25-13VietnamWarBuildupandMacroeconomicActivityintheUnitedStates:1964–70©2005PearsonEducationCanadaInc.25-14NegativeSupplyShocksandMacroeconomicActivityinCanada:1973–75and1978–80©2005PearsonEducationCanadaInc.25-15PositiveSupplyShocksandMacroeconomicActivityintheUnitedStates:1995–99