布兰查德宏观经济学课后习题答案.docx

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1、135ANSWERSTOEND-OF-CHAPTERPROBLEMSCHAPTER1QuickCheck1.a.True.b.True.c.False.d.False/uncertain.Therateofgrowthwashigherduringthedecadebeginningin1996thanduringtheprevioustwodecades,butitisprobablyunrealistictoexpectproductivitytocontinuetogrowatsuchafastpace.e.Fa

2、lse.Thereareproblemswiththestatistics,buttheconsensusisthatgrowthinChinahasbeenhigh.f.False.TheEuropean“unemploymentmiracle”referstotherelativelylowEuropeanunemploymentrateinthe1960sandtheearly1970s.g.True.h.True.2.a.Moreflexiblelabormarketinstitutionsmayleadtol

3、owerunemployment,buttherearequestionsabouthowpreciselytorestructuretheseinstitutions.TheUnitedKingdomhasrestructureditslabormarketinstitutionstoresemblemorecloselyU.S.institutionsandnowhasalowerunemploymentratethanbeforetherestructuring.Ontheotherhand,Denmarkand

4、theNetherlandshaverelativelylowunemploymentrateswhilemaintainingrelativelygeneroussocialinsuranceprogramsforworkers.Inaddition,someeconomistsarguethattightmonetarypolicyhasatleastsomethingtodowiththehighunemploymentratesinEurope.b.AlthoughtheEurowillremoveobstac

5、lestofreetradebetweenEuropeancountries,eachcountrywillbeforcedtogiveupitsownmonetarypolicy.DigDeeper3.a.TheChinesegovernmenthasencouragedforeignfirmstoproduceinChina.SinceforeignfirmsaretypicallymoreproductivethanChinesefirms,thepresenceofforeignfirmshasleadtoan

6、increaseinChineseproductivity.TheChinesegovernmenthasalsoencouragedjointventuresbetweenforeignandChinesefirms.ThesejointventuresallowChinesefirmstolearnfrommoreproductiveforeignfirms.b.TherecentincreaseinU.S.productivitygrowthhasbeenaresultofthedevelopmentandwid

7、espreaduseofinformationtechnologies.c.TheUnitedStatesisatechnologicalleader.MuchofU.S.productivitygrowthisrelatedtothedevelopmentofnewtechnologies.Chinaisinvolvedintechnologicalcatch-up.MuchofChineseproductivitygrowthisrelatedtoadoptingexistingtechnologiesdevelo

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