Macroeconomics 5th By Olivier Blanchard 课后答案

《Macroeconomics 5th By Olivier Blanchard 课后答案》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。

1、191ANSWERSTOEND-OF-CHAPTERPROBLEMSCHAPTER1QuickCheck1.a.True.b.True.c.False.d.False/uncertain.Therateofgrowthwashigherduringthedecadebeginningin1996thanduringtheprevioustwodecades,butitisprobablyunrealistictoexpectproductivitytocontinuetogrowatsuchafas

2、tpace.e.False.Thereareproblemswiththestatistics,buttheconsensusisthatgrowthinChinahasbeenhigh.f.False.TheEuropean“unemploymentmiracle”referstotherelativelylowEuropeanunemploymentrateinthe1960sandtheearly1970s.g.True.h.True.2.a.Moreflexiblelabormarketin

3、stitutionsmayleadtolowerunemployment,buttherearequestionsabouthowpreciselytorestructuretheseinstitutions.TheUnitedKingdomhasrestructureditslabormarketinstitutionstoresemblemorecloselyU.S.institutionsandnowhasalowerunemploymentratethanbeforetherestructu

4、ring.Ontheotherhand,DenmarkandtheNetherlandshaverelativelylowunemploymentrateswhilemaintainingrelativelygeneroussocialinsuranceprogramsforworkers.Inaddition,someeconomistsarguethattightmonetarypolicyhasatleastsomethingtodowiththehighunemploymentratesin

5、Europe.b.AlthoughtheEurowillremoveobstaclestofreetradebetweenEuropeancountries,eachcountrywillbeforcedtogiveupitsownmonetarypolicy.DigDeeper3.a.TheChinesegovernmenthasencouragedforeignfirmstoproduceinChina.Sinceforeignfirmsaretypicallymoreproductivetha

6、nChinesefirms,thepresenceofforeignfirmshasleadtoanincreaseinChineseproductivity.TheChinesegovernmenthasalsoencouragedjointventuresbetweenforeignandChinesefirms.ThesejointventuresallowChinesefirmstolearnfrommoreproductiveforeignfirms.b.Therecentincrease

7、inU.S.productivitygrowthhasbeenaresultofthedevelopmentandwidespreaduseofinformationtechnologies.c.TheUnitedStatesisatechnologicalleader.MuchofU.S.productivitygrowthisrelatedtothedevelopmentofnewtechnologies.Chinaisinvolvedintechnologicalcatch-up.Muchof

8、Chineseproductivitygrowthisrelatedtoadoptingexistingtechnologiesdevelopedabroad.d.It’snotcleartowhatextentChinaprovidesamodelforotherdevelopingcountries.Highinvestmentseemsagoodstrategyforcountrieswithlittlecapital,andencouragingforeign