宏观经济学原理教辅 (7).pdf

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1、7(19)Long-RunandShort-RunConcerns:Growth,Productivity,Unemployment,andInflationOUTLINEOFTEXTMATERIALI.IntroductionAnidealeconomyisoneinwhichthereisrapidgrowthofoutputperworker,lowunemployment,andlowinflation.A.Unfortunatelyeconomiesarenotalwaysinthisideals

2、tateB.Akeypartofmacroeconomicsisstudyingwhatdeterminesoutput,unemployment,andinflation.II.Long-RunOutputandProductivityGrowthA.Since1900theU.S.economyhasgrown3.4percentperyearonaverage.1.Why3.4percent?Whynot2percentor4percent?2.Willsuchasmalldifferenceingr

3、owthratesmatter?TEACHINGTIP:Forthe100yearsbetween1901and2000,herearethedifferentgrowthratesandtheassociatedmultipleforthelevelofGDPcalculatedas(1+g)100.GrowthrateGDPmultiple1%2.7052%7.2453%19.2193.4%28.3174%50.5055354PrinciplesofMacroeconomicsB.GrowthT

4、heorystudiesthefactorsthataffecttheaveragegrowthrateofoutputinaneconomy.1.Outputcanincreaseifthereisanincreaseinlabororcapitalorifthereisanincreaseintheamountoftimelaborandcapitalareworkingperweek.2.Anotherwayforoutputtoincreaseisifthequalityoftheworkersin

5、creases(humancapital)orifthequalityofthemachinesincreases(technologicalimprovement).C.LaborProductivityistotaloutput(realGDP)dividedbytotalworkerhours(outputperworkerhour).1.Thelong-runupwardtrend(Fig.7.1[19.1])hasbeendueto:a.increasesintheamountofcapitalp

6、erworkerandb.improvementsinthequalityofbothworkersandmachines.TEACHINGTIP:Remindstudentsthatwheneconomistsusethetermcapitaltheyarereferringtophysicalcapitallikemachinesandbuildings.ThetextexampleoftheInternetprovidesagoodillustrationofincreasesinthequan

7、tityandqualityofcapital.III.Recessions,Depressions,andUnemploymentA.Arecessionis,roughly,aperiodinwhichrealGDPdeclinesforatleasttwoconsecutivequarters.1.Recessionsusuallyincludefallingoutput,risingunemployment,andfallinginterestrates.Oftentheinflationrate

8、alsofalls.2.Adepressionisaprolongedanddeeprecession.B.DefiningandMeasuringUnemployment1.TheunemploymentstatisticsreleasedtothepressonthefirstFridayofeachmontharebasedonasurveyofhouseholdsconductedbytheBureauo