多恩布什《宏观经济学》第十版英文原版i05revised

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1、CHAPTER5AGGREGATESUPPLYANDDEMANDChapterOutline·TheclassicalAS-curve·TheKeynesianAS-curve·Thepriceadjustmentmechanism·Frictionalunemployment·Thequantitytheoryofmoney·TheAD-ASframework·Theeffectsofshiftsinaggregatedemand·Supply-sideeconomics·Dynamicscor

2、ing·Long-runshiftsinaggregatedemandandsupplyChangesfromthePreviousEditionAnewBox5-2(formerBox6-2)hasbeeninsertedtodistinguishbetweentheveryshortrunAS-curve(thehorizontalKeynesianAS-curve)andtheupwardsloping,mediumrunAS-curve.OldBox5-2hasbecomenewBox5-

3、3.NewSection5-2(formerSection6-1),whichdescribesthepriceadjustmentmechanism,alsohasbeeninserted.Allfollowingboxesandsectionshavebeenrenumbered.IntroductionoftheMaterialInthischapter,theAD-ASmodelispresentedasabasicmacroeconomicmodelfordeterminingtheou

4、tputandpricelevels.TheAS-curvedescribesthequantityofgoodsandservicesfirmsarewillingtosupplyateachpricelevel.TheAD-curveshowsallpossiblecombinationsofthepriceandoutputlevelatwhichthegoodsandmoneysectorsaresimultaneouslyinequilibrium.Twospecialcasesaree

5、xamined:theclassicalAS-curve,representingthelongrun,andtheKeynesianAS-curve,representingtheveryshortrun.TheclassicalAS-curveisvertical,basedontheassumptionthatlabormarketsworksmoothlyandalwaysmaintainanequilibriumatfullemployment.Here,ashiftinaggregat

6、edemandhasnoeffectonthelevelofoutputbutdoesleadtoachangeinthepricelevel.TheKeynesianAS-curveishorizontal,indicatingthatfirmswillsupplywhateveramountofgoodsisdemandedattheexistingpricelevel.Wagesremainconstant,andthereforeachangeinaggregatedemandchange

7、sthelevelofoutput,whilethepricelevelremainsunaffected.Theclassicalcaseimpliesthatthelabormarketisalwaysinafull-employmentequilibrium,althoughsomefrictionalunemploymentalwaysexistsaspeopleswitchjobs.Theamountofunemploymentthatexistsatfullemploymentisca

8、lledthenaturalrateofunemployment.Manyeconomistsestimatethisratetocurrentlytobeataround5.2percentfortheUnitedStates,butan87exactvaluehasneverbeenestablished.Thecorrespondingfull-employmentlevelofoutputiscalledpotentialGDP.WhilepotentialGDPchang