国际经济学(双语)-第8章

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1、BalanceofPaymentsAdjustmentsInternationalEconomicsChapter8Chapter8BalanceofPaymentsAdjustments8.1ElasticitiesApproach8.2MultiplierApproach8.3AbsorptionApproach8.4MonetaryApproachAsatraditionalapproachtothebalanceofpayments,elasticitiesapproachassumesthatcapitalflowsocc

2、uronlyasameansoffinancingcurrentaccounttransactions.DerivationoftheDemandforForeignExchange:Thequantityofacurrencydemandedintheforeignexchangemarketisderivedfromthecountry’sdemandforimports.8.1ElasticitiesApproach8.1ElasticitiesApproachChina’sImportDemandCurveandtheDem

3、andfordollar8.1ElasticitiesApproachElasticityofImportDemandandtheElasticityofForeignExchangeDemand.DerivationoftheSupplyofForeignExchangeThesupplyofforeignexchangetoacountryresultsfromitsexportsofgoodsandservices.8.1ElasticitiesApproach8.1ElasticitiesApproachElasticity

4、ofExportSupplyandtheElasticityofForeignExchangeSupply8.1ElasticitiesApproachTheelasticitiesapproachcentersonchangesinthepricesofgoodsandservicesasthedeterminantofacountry’sbalanceofpaymentsandtheexchangevalueofitscurrency.country’sbalanceofpaymentsandexchangevaluethequ

5、antityofforeignexchangethequantityofgoodsandservicesachangeintheexchangeratethedomesticcurrencypriceofgoodsandservicesachangeintheexchangerateachangeintheexchangerate8.1ElasticitiesApproachTheCurrentAccountDeficit8.1ElasticitiesApproachTheRoleofElasticityTheelasticitie

6、softhesupplyofanddemandforforeignexchangearefundamentaldeterminantsofadjustmenttoabalance-of-paymentsdeficit.8.1ElasticitiesApproachTheMarshall-LernerConditionTheMarshall-Lernerconditionspecifiesthenecessaryconditionforapositiveeffectofdepreciationofdomesticcurrencyont

7、hebalanceofpayments.8.1ElasticitiesApproachAssumptionCapitalflowsoccuronlyasameansoffinancingcurrentaccounttransactions.Tradebalanceexclusivelyrepresentsthecurrentaccount.8.1ElasticitiesApproachCAindomesticcurrency:Derivateitwithe:InitialCAinequilibrium:Then:Rearrangei

8、t:Finally:(,)8.1ElasticitiesApproachAdepreciationtoimproveCA:So:Marshall-Lernerconditionstatesthatadepreciationofdome