Macro Lecture ch13 Open Economy Basics

8/9/2019 Macro Lecture ch13 Open Economy Basics

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Aznd Nfadamx Bkvhfv

@r$ Ekplnrhdn Vk~nr

Zrhdfhzgnv ai Mkfranfadamhfv

NFA 2:;:

;


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Aynryhns?

H$ Pln Igasv ai Caa`v kd` Vnryhfnv kd` FkzhpkgHH$ Damhdkg kd` Rnkg N|flkdcn Rkpnv

2


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H$ Pln Igasv ai Caa`v' Vnryhfnv' kd` Fkzhpkg

K$ Pln Igas ai Caa`v kd` Vnryhfnv?

Dnp N|zarpv = ykg~n ai n|zarpv ykg~n ai hmzarpv

kek pln prk`n bkgkdfn

prk`n v~rzg~v? N\ 4 HM

prk`n nihfhp? N\ 7 HM

bkgkdfn` prk`n? N\ = HM

,bkgkdfn` prk`n hv DAP pln vkmn plhdc kv pln prk`n bkgkdfn+(

Slnd xa~ lnkr plkp k fa~dprxv prk`n bkgkdfn lkv sarvndn`' hp

mnkdv plkp plnrn hv gnvv ai k v~rzg~v ar marn ai k `nihfhp$

- hmzarpv krn hdfrnkvhdc ar n|zarpv krn `nfrnkvhdc6


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0

Ikfparv plkp hdig~ndfn k fa~dprxv prk`n bkgkdfn?

;(zrhfnv ai caa`v mkd~ikfp~rn` kp lamn- hi lamn caa`v krn rngkphyngx n|zndvhyn' plnd k fa~dprx

shgg hmzarp flnkznr caa`v

2( n|flkdcn rkpnv- hi k fa~dprxv f~rrndfx hv vpradc kckhdvp aplnr f~rrndfhnv'

plnd hp hv flnkz pa hmzarp slhgn hpv n|zarpv krn

n|zndvhyn pa aplnr fa~dprhnv

6( prk`n kcrnnmndpv- slnd k fa~dprx vhcdv k Irnn Prk`n Kcrnnmndp' bapl

hpv n|zarpv kd` hmzarpv shgg ghengx hdfrnkvn


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>

0( prk`n bkrrhnrv

- hi k fa~dprx hmzavnv pkrhiiv ad hmzarpv' plnd hmzarpv

krn rn`~fn`- hi k fa~dprx v~bvh`hnv n|zarpv' plnd n|zarpv shgg rhvn

>( plnb~vhdnvv fxfgn kp lamn ar kbrak`

- hd kd n|zkdvhad kp lamn' fadv~mnr hdfamnv krn

hdfrnkvhdc' hd cndnrkg plhv shgg hdfrnkvn hmzarpv

- hd kd n|zkdvhad kbrak`' fadv~mnr hdfamnv ngvnslnrn

krn hdfrnkvhdc va pln lamn fa~dprx n|zarpv marn

Mavp nfadamhvpv `adp bnghnyn plkp prk`n `nihfhpv!v~rzg~vnv krn

hdlnrndpgx caa` ar bk`$ Pln nfadamhf hmzkfp ai k v~rzg~v ar

`nihfhp `nznd`v ad pln vznfhihf fhrf~mvpkdfnv v~rra~d`hdc hp$


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9

B$ Pln Igas ai Fkzhpkg?

Dnp

Iarnhcd = z~rflkvnv ai iarnhcd - z~rflkvnv ai amnvphf

Hdynvpmndp kvvnpv bx amnvphfv kvvnpv bx iarnhcdnrv

kek Dnp Fkzhpkg A~pigas

n|?- ^V ihrm b~xv k ikfparx hd Mn|hfa

^V DIH rhvnv' Mn|$ DIH ikggv

- Fkdk`hkd n|zarpnr hv zkh` hd xnd iar k vlhzmndp

Fkd$ DIH rhvnv' Okz$ DIH ikggv

- Zaghphfkg hdvpkbhghpx fk~vnv fkzhpkg pa gnkyn Yndn~ngk hd ikyar ai

Brkhg

Ynd$ DIH rhvnv' Brk$ DIH ikggv


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3

Ikfparv plkp hdig~ndfn DIH?

;( rnkg hdpnrnvp rkpnbnhdc zkh` ad iarnhcd kvvnpv yv `amnvphf kvvnpv

- lhclnr hdpnrnvp rkpnv kp lamn shgg kpprkfp iarnhcd fkzhpkg

- lhclnr hdpnrnvp rkpnv kbrak` shgg `hrnfp fkzhpkg plnrn

2( plnznrfnhyn` nfadamhf rhvev ai lag`hdc kvvnpv hd ykrha~v dkphadv

- pln rhvehnr pln dkphad' pln gnvv ghengx xa~ krn pa ennz kvvnpv

6( caynrdmndp zaghfhnv- pk|nv' rnzkprhkpn hyh`nd`v' rnvprhfphadv ad iarnhcd hdynvpmndp


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Las m~fl hv k V~bskx Fg~b cahdc pa favp xa~1

Pln zrhfn hv 0'6::sad$

Pln n|flkdcn rkpn hv ;^V@ znr 88;sad$

06::s | ; 88;s

= 0$60

Hi hdvpnk` pln n|flkdcn rkpn skv ;^V@ znr 8>:sad

06::s | ;

8>:s= 0$>:


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;9

V~zzavn plkp hd 2::8' nOZX!^V@ = ;2:$ Hd 2:;:' nOZX!^V@ = ;>:$

- hdhphkggx' adn àggkr fa~g` b~x ;2: xnd- das' adn àggkr fkd b~x ;>: xnd

- pln àggkr lkv kzzrnfhkpn` kckhdvp pln xnd

- hdhphkggx' hp paae ;2: xnd pa b~x adn àggkr

- das' hp pkenv ;>: xnd pa b~x adn àggkr- pln xnd lkv `nzrnfhkpn` kckhdvp pln àggkr

///Hi nK!B hdfrnkvnv' plnd f~rrndfx B hv kzzrnfhkphdc///


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;3

Vkgb~rc' K~vprhk

O~dn 2::3

; = :$3023:n~ra;n~ra | ; = ;$6>

:$3023:


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;

Hmzghfkphadv?

- ZZZ hmzghnv plkp hd pln gadc r~d nr= ;$

; = nK!B | zrhfn gnyng hd B

zrhfn gnyng hd K

zrhfn gnyng hd K = nK!B

zrhfn gnyng hd B

- ZZZ hmzghnv plkp flkdcnv hd pln damhdkg n|flkdcn rkpn rnignfp

flkdcnv hd pln zrhfn gnyng ,hdigkphad(

- ZZZ hmzghnv plkp hi k fndprkg bkde zrhdpv paa m~fl madnx' plnmadnx gavnv ykg~n bapl hd pnrmv ai pln caa`v kd` vnryhfnv hp fkd

b~x kd` KGVA hd pnrmv ai pln iarnhcd f~rrndfx hp fkd b~x$


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n|? V~zzavn k b~rrhpa favpv 3 hd pln ^V kd` favpv 2:VIr hd

Vshpnrgkd`$ n = ;$;9>3VIr !

Hi ZZZ lag`v' slkp VLA^G@ pln n|flkdcn rkpn bn1

nrVshvv!^V = nVshvv!^V | zrhfn gnyng hd ^V

zrhfn gnyng hd Vs$

; = nVshvv!^V | 3 $

2:VIr

3 = nVshvv!^V2:VIr

2$3; = nVshvv!^V

ZZZ

ZZZ

ZZZ

ZZZ


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Pln hmzghn` ZZZ n|flkdcn rkpn hv 2$3;VIr!$

Pln kfp~kg n|flkdcn rkpn hv ;$;9>3VIr !$

Hp pkenv insnr VIr pa cnp adn àggkr plkd hp vla~g`$

Pln VIr hv aynrykg~n` ynrv~v pln àggkr$

Pln àggkr hv ~d`nrykg~n` ynrv~v pln VIr$


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20$Hp hv flnkznr pa b~x k Bhc Mkf hd R~vvhk plkd pln ^V$


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6>

Bhc Mkf Zrhfnv kfp~kg aynr!~d`nr

gafkg zrhfn hd ZZZ ai n|flkdcn rkpn ykg~n`

zrhfn ^V ^V znr V yv V

^V 6$>3 6$>3 $ $ $

R~vvhk >8$:r~bgnv 2$>0 ;9$> 26$2 -28

QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ

Pa fkgf~gkpn pln ZZZ rkpn?>8$: ! 6$>3 = ;9$>

Plnarx pnggv ~v hp vla~g` pken ;9$> r~bgnv pa b~x adn ^V `aggkr$

Kfp~kggx hp pkenv 26$2 r~bgnv pa b~x adn ^V `aggkr$

Pln r~bgn hv snkenr plkd hp vla~g` bn$ Hp hv ~d`nrykg~n` ynrv~v pln ^V$

,;9$> 26$2( ! 26$2 | ;:: = - 2

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Macro Lecture ch13 Open Economy Basics