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时间:2020-04-01
《克鲁格曼国际经济学-理论与政策下册(国际金融).doc》由会员上传分享,免费在线阅读,更多相关内容在行业资料-天天文库。
1、CHAPTER12NATIONALINCOMEACCOUNTINGANDTHEBALANCEOFPAYMENTSANSWERSTOTEXTBOOKPROBLEMS1.ThereasonforincludingonlythevalueoffinalgoodsandservicesinGNP,asstatedinthequestion,istoavoidtheproblemofdoublecounting.Doublecountingwillnotoccurifintermediateimportsaresubtractedandintermediatee
2、xportedgoodsareaddedtoGNPaccounts.ConsiderthesaleofU.S.steeltoToyotaandtoGeneralMotors.ThesteelsoldtoGeneralMotorsshouldnotbeincludedinGNPsincethevalueofthatsteelissubsumedinthecarsproducedintheUnitedStates.ThevalueofthesteelsoldtoToyotawillnotenterthenationalincomeaccountsinamo
3、refinishedstatesincethevalueoftheToyotagoestowardsJapaneseGNP.ThevalueofthesteelshouldbesubtractedfromGNPinJapansinceU.S.factorsofproductionreceivepaymentforit.2.Equation2canbewrittenasCA=(Sp-I)+(T-G).HigherU.S.barrierstoimportsmayhavelittleornoimpactuponprivatesavings,investmen
4、t,andthebudgetdeficit.Iftherewerenoeffectonthesevariablesthenthecurrentaccountwouldnotimprovewiththeimpositionoftariffsorquotas.Itispossibletotellstoriesinwhichtheeffectonthecurrentaccountgoeseitherway.Forexample,investmentcouldriseinindustriesprotectedbythetariff,worseningthecu
5、rrentaccount.(Indeed,tariffsaresometimesjustifiedbytheallegedneedtogiveailingindustriesachancetomodernizetheirplantandequipment.)Ontheotherhand,investmentmightfallinindustriesthatfaceahighercostofimportedintermediategoodsasaresultofthetariff.Ingeneral,permanentandtemporarytariff
6、shavedifferenteffects.Thepointofthequestionisthatapredictionofthemannerinwhichpoliciesaffectthecurrentaccountrequiresageneral-equilibrium,macroeconomicanalysis.3.a.ThepurchaseoftheGermanstockisadebitintheU.S.financialaccount.ThereisacorrespondingcreditintheU.S.financialaccountwh
7、entheAmericanpayswithacheckonhisSwissbankaccountbecausehisclaimsonSwitzerlandfallbytheamountofthecheck.ThisisacaseinwhichanAmericantradesoneforeignassetforanother.b.Again,thereisaU.S.financialaccountdebitasaresultofthepurchaseofaGermanstockbyanAmerican.Thecorrespondingcreditinth
8、iscaseoccurswhentheGermansellerdepositstheU.S.c
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