复旦大学【克鲁格曼《国际经济学》第六版英文课件】CH11
国际经济学克鲁格曼版[]PPT课件
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的需求量总和之比。
• 当奶酪的相对价格上升时，各国的消费者将会减少奶 酪的购买量，增加葡萄酒的购买量，因此奶酪的相对 需求就减少了。
可编辑
3-30
Hale Waihona Puke 相对供给和相对需求奶酪的相对价格， PC/PW
a*LC/a*LW aLC/aLW
可编辑
3-9
比较优势和贸易
万支玫瑰 万台计算机
美国
-1000
+10
厄瓜多尔
+1000
-3
总计
0
+7
可编辑
3-10
比较优势和贸易
• 在这个简单的例子中，我们可以看出当每个国 家专注于生产他们有比较优势的产品时，两个 国家就可以生产和消费更多的商品和服务。
可编辑
3-11
单一要素的李嘉图模型
• 玫瑰和计算机的简单案例解释了李嘉图模型的 内涵。
• 若相对需求曲线是RD’，则表示奶酪的相对价格等于 本国奶酪的机会成本。此时，本国不一定需要从事任 何一种产品的专业化生产。外国仍然专业生产葡萄酒。
• 一般来说，是第一种情况居多。各国都只生产自己具 有比较优势的产品。再进行贸易，使得消费扩张。
可编辑
3-33
贸易所得
• 行业间相对劳动生产率不同的国家会在不同的产品生 产中进行专业化分工，而每个国家的贸易所得正是通 过这种专业化分工而获得的。此外，国家可以用贸易 所得来购买所需的商品和服务。
RS 1
RD
L/aLC L*/a*LW
奶酪的相对产量，
QC + Q*C QW + Q*W
《国际经济学》克鲁格曼(第六版)习题答案imsect4
OVERVIEW OF SECTION IV: INTERNATIONAL MACROECONOMIC POLICYPart IV of the text is comprised of five chapters:Chapter 18 The International Monetary System, 1870-1973Chapter 19 Macroeconomic Policy and Coordination Under Floating Exchange Rates Chapter 20 Optimum Currency Areas and The European ExperienceChapter 21 The Global Capital Market: Performance and Policy ProblemsChapter 22 Developing Countries: Growth, Crisis, and ReformSECTION OVERVIEWThis final section of the book, which discusses international macroeconomic policy, provides historical and institutional background to complement the theoretical presentation of the previous section. These chapters also provide an opportunity for students to hone their analytic skills and intuition by applying and extending the models learned in Part III to a range of current and historical issues.The first two chapters of this section discuss various international monetary arrangements. These chapters describe the workings of different exchange rate systems through the central theme of internal and external balance. The model developed in the previous section provides a general framework for analysis of gold standard, reserve currency, managed floating, and floating exchange-rate systems.Chapter 18 chronicles the evolution of the international monetary system from the gold standard of 1870 - 1914, through the interwar years, and up to and including the post-war Bretton Woods period. The chapter discusses the price-specie-flow mechanism of adjustment in the context of the discussion of the gold standard. Conditions for internal and external balance are presented through diagrammatic analysis based upon the short-run macroeconomic model of Chapter 16. This analysis illustrates the strengths and weaknesses of alternative fixed exchange rate arrangements. The chapter also draws upon earlier discussion of balance of payments crises to make clear the interplay between "fundamental disequilibrium" and speculative attacks. There is a detailed analysis of the Bretton Woodssystem that includes a case study of the experience during its decline beginning in the mid-1960s and culminating with its collapse in 1973.Chapter 19 focuses on recent experience under floating exchange rates. The discussion is couched in terms of current debate concerning the advantages of floating versus fixed exchange rate systems. The theoretical arguments for and against floating exchange rates frame two case studies, the first on the experience between the two oil shocks in the 1970s and the second on the experience since 1980. The transmission of monetary and fiscal shocks from one country to another is also considered. Discussion of the experience in the 1980s points out the shift in policy toward greater coordination in the second half of the decade. Discussion of the 1990s focuses on the strong U.S. economy from 1992 on and the extended economic difficulties in Japan. Finally, the chapter considers what has been learned about floating rates since 1973. The appendix illustrates losses arising from uncoordinated international monetary policy using a game theory setup.Europe’s switch to a single currency, the euro, is the subject of Chapter 20, and provides a particular example of a single currency system. The chapter discusses the history of the European Monetary System and its precursors. The early years of the E.M.S. were marked by capital controls and frequent realignments. By the end of the 1980s, however, there was marked inflation convergence among E.M.S. members, few realignments and the removal of capital controls. Despite a speculative crisis in 1992-3, leaders pressed on with plans for the establishment of a single European currency as outlined in the Maastricht Treaty which created Economic and Monetary Union (EMU). The single currency was viewed as an important part of the EC 1992 initiative which called for the free flow within Europe of labor, capital, goods and services. The single currency, the euro, was launched on January 1, 1999 with eleven original participants. These countries have ceded monetary authority to a supranational central bank and constrained their fiscal policy with agreements on convergence criteria and the stability and growth pact. A single currency imposes costs as well as confers benefits. The theory of optimum currency areas suggests conditions which affect the relative benefits of a single currency. The chapter provides a way to frame this analysis using the GG-LL diagram which compares the gains and losses from a single currency. Finally, the chapter examines the prospects of the EU as an optimal currency area compared to the United States and considers the future challenges EMU will face.The international capital market is the subject of Chapter 21. This chapter draws an analogy between the gains from trade arising from international portfolio diversification andinternational goods trade. There is discussion of institutional structures that have arisen to exploit these gains. The chapter discusses the Eurocurrency market, the regulation of offshore banking, and the role of international financial supervisory cooperation. The chapter examines policy issues of financial markets, the policy trilemma of the incompatibility of fixed rates, independent monetary policy, and capital mobility as well as the tension between supporting financial stability and creating a moral hazard when a government intervenes in financial markets. The chapter also considers evidence of how well the international capital market has performed by focusing on issues such as the efficiency of the foreign exchange market and the existence of excess volatility of exchange rates.Chapter 22 discusses issues facing developing countries. The chapter begins by identifying characteristics of the economies of developing countries, characteristics that include undeveloped financial markets, pervasive government involvement, and a dependence on commodity exports. The macroeconomic analysis of previous chapters again provides a framework for analyzing relevant issues, such as inflation in or capital flows to developing countries. Borrowing by developing countries is discussed as an attempt to exploit gains from intertemporal trade and is put in historical perspective. Latin American countries’ problems with inflation and subsequent attempts at reform are detailed. Finally, the East Asian economic miracle is revisited (it is discussed in Chapter 10), and the East Asian financial crisis is examined. This final topic provides an opportunity to discuss possible reforms of the world’s financial architecture.。
(国际经济学英文课件)ch10Trade Policy in Developing Countrie
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10-13
Trade Liberalization
• There is some evidence that low and middle income countries which had relatively free trade had higher average economic growth than those that followed import substituting industrialization.
The knowledge created when starting an industry may be not appropriable (may be a public good) because of a lack of property rights.
If establishing a system of property rights is not feasible, then high tariffs would be a second-best policy to encourage growth in new industries.
(国际经济学英文课件 )ch10Trade Policy in Developing
Countries
Slides prepared by Thomas Bishop
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
《国际经济学(双语)》(黄敏主编复旦大学出版社)讲义第11章
Three points should be noted about this redistribution of the world’s labor force. It leads to a convergence of real wage rates. Real wages rise in Country A and fall in Country B. Country B’s output rises by the area under its marginal product curve from L1 to L2, while Country A’s output falls by the corresponding area under its marginal product curve. Those who would originally have worked in Country A receive higher real wages, but those who would originally have worked in Country B receive lower real wages.
11.1 International Movement of Labor
This change in relative labor supplies will lead Country A to contract production of X from t0 to t1 and expand production of Y from a0 to a1. Country B, on the other hand, will expand production of X from T0 to T1 with the newly acquired labor and reduce the production of Y from A0 to A1.
复旦大学【克鲁格曼《国际经济学》第六版英文课件】CH12
– It is the sum of domestic and foreign expenditure on the goods and services produced by domestic factors of production:
Y = C + I + G + EX – IM
(12-1)
4
The National Income Accounts
Gross national product (GNP)
– The value of all final goods and services produced by a country’s factors of production and sold on the market in a given time period
The price of milk is 0.5 bushel of wheat per gallon, and at this price Agrarians want to consume 40 gallons of milk.
13
National Income Accounting for an Open Economy
– Adjustments to the definition of GNP:
»Depreciation of capital
It reduces the income of capsubtracted from GNP (to get the net national product).
»CA balance is goods production less domestic demand. »CA balance is the excess supply of domestic financing.
国际经济学 克鲁格曼版
世界贸易概览
Slides prepared by Thomas Bishop
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
本章探讨的两个问题
• 谁和谁贸易的问题（引力模型不仅能解释两国 间贸易量的大小，而且能说明当今制约国际贸 易发展的障碍因素）
2-20
世界变小了吗？
• 两个经济全球化浪潮
1840—1914 经济依赖于蒸汽机、铁路、电 报机、电话 。经济全球化因为战争和经济大 萧条被阻止和取消。 1945至今: 经济依赖于电话、飞机、计算机、 因特网、光学纤维、掌上电脑、GPS卫星定 位等等。
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
轮船、帆船、指南针、铁路、电报、蒸汽机、动力 机、汽车、电话、飞机、计算机、机械装置、因特 网、光纤化学、个人数码助理,、GPS卫星定位等等 现代化技术增加了国际贸易量。
• 但是历史表明政治因素，例如战争，对贸易形 式的影响要比交通和通讯的改革更为强烈。
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
2-15
距离、壁垒和疆界
• 1994年美国和加拿大、墨西哥签署了贸 易协定，即《北美自由贸易协定》。
• 由于加拿大和墨西哥不仅是美国的邻居， 而且与它签署了贸易协定，因此美国的 邻国与美国个贸易量远胜过美国的欧洲 贸易伙伴与美国的贸易量。
复旦大学【克鲁格曼《国际经济学》第六版英文课件】CH10
• Protecting manufacturing does no good unless the
protection itself helps make industry competitive.
– Example: Pakistan and India have protected their heavy manufacturing sectors for decades and have recently begun to develop significant exports of light manufactures like textiles.
Copyright © 2003 Pearson Education, Inc.
Slide 10-12
Import-Substituting Industrialization
• Why didn’t import-substituting industrialization work
the way it was supposed to?
Copyright © 2003 Pearson Education, Inc.
Slide 10-8
Import-Substituting Industrialization
▪ Promoting Manufacturing Through Protection
• Import-substituting industrialization
economic development?
– Many economists are now harshly critical of the results of import substitution, arguing that it has fostered highcost, inefficient production.
(克鲁格曼)英文课件国际经济学CH06
– Marginal Cost (MC) is the amount it costs the firm to produce one extra unit.
Copyright © 2003 Pearson Education, Inc.
Slide 6-12
5.The Theory of Imperfect Competition
▪ Monopoly: A Brief Review
• Marginal revenue
– The extra revenue the firm gains from selling an additional unit
– Its curve, MR, always lies below the demand curve, D.
• Increasing the amount of all inputs used in the
production of any commodity will increase output of that commodity in the same proportion.
▪ In practice, many industries are characterized by
Table 6-1: Relationship of Input to Output for a Hypothetical Industry
Copyright © 2003 Pearson Education, Inc.
Slide 6-6
3.Economies of Scale and Market Structure
Slide 6-3
2.Economies of Scale and
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Slide 11-4
Sophisticated Arguments for Activist Trade Policy
▪ Technology and Externalities
• Externalities
– Firms in an industry generate knowledge that other firms can also use without paying for it.
Sophisticated Arguments for Activist Trade Policy
Table 11-4: Effects of a Subsidy to Airbus
Airbus
Boeing
Produce
Don’t produce
Produce 5
5
0
125
125
0
Don’t produce
Slide 11-3
Sophisticated Arguments for Activist Trade Policy
▪ There are two kinds of market failure that seem to be
present and relevant to the trade policies of advanced countries:
• Technological externalities • The presence of monopoly profits in highly
concentrated oligopolistic industries
Copyright © 2003 Pearson Education, Inc.
0
0
A subsidy of 25 to Airbus given by Europe results in A=5, B=5.
Copyright © 2003 Pearson Education, Inc.
Slide 11-13
Globalization and Low-Wage Labor
▪ The rise of manufactured exports from developing
Copyright © 2003 Pearson Education, Inc.
Slide 11-14
Globalization and Low-Wage Labor
▪ The Anti-Globalization Movement
• It became a highly visible presence chronologically:
excess returns. – A subsidy from the government to domestic firms can
shift the excess returns from foreign to domestic firms.
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-20
0
125
100
0
Don’t produce
0
0
Equilibrium outcome is A=0 and B=125; Boeing produces
and Airbus does not.
Copyright © 2003 Pearson Education, Inc.
Slide 11-12
– There is a new product, 150-seat aircraft, that both firms are capable of making.
– Each firm decides either to produce the new product or not.
Copyright © 2003 Pearson Education, Inc.
Slide 11-8
Sophisticated Arguments for Activist Trade Policy
Table 11-1: Two-Firm Competition Airbus
Boeing
Produce
Don’t produce
-5
0
Produce
-5
100
100
0
Don’t produce
– The exact payoffs of the firms cannot easily be obtained.
– Industries in isolation
– A policy that succeeds in giving U.S. firms a strategic advantage in one industry will tend to cause strategic disadvantage elsewhere.
government intervention in trade emerged in advanced countries.
– These arguments focused on the “high-technology” industries that came to prominence as a result of the rise of the silicon chip.
Copyright © 2003 Pearson Education, Inc.
Slide 11-2
Introduction
▪ Two controversies over international trade arose in
the 1980s and 1990s.
• In the 1980s a new set of sophisticated arguments for
Chapter 11
▪ Controversies in Trade Policy
Chapter Organization
▪ Introduction ▪ Sophisticated Arguments for Activist Trade Policy ▪ Globalization and Low-Wage Labor ▪ Summary
– Foreign retaliation
– Strategic policies are beggar-thy-neighbor policies that increase our welfare at other couyright © 2003 Pearson Education, Inc.
Slide 11-11
Sophisticated Arguments for Activist Trade Policy
Table 11-3: Two-Firm Competition: An Alternative Case Airbus
Boeing
Produce
Don’t produce
Produce 5
Copyright © 2003 Pearson Education, Inc.
Slide 11-6
Sophisticated Arguments for Activist Trade Policy
▪ Imperfect Competition and Strategic Trade Policy
Table 11-2: Effects of a Subsidy to Airbus
Airbus
Boeing
Produce
Don’t produce
20
0
Produce
-5
100
125
0
Don’t produce
0
0
A subsidy of 25 to Airbus given by Europe results in A=125, B=0.
Copyright © 2003 Pearson Education, Inc.
Slide 11-5
Sophisticated Arguments for Activist Trade Policy
• The Case for Government Support of High-
Technology Industries
• In some industries where there are only a few firms in
effective competition:
– The assumptions of perfect competition will not apply. – Firms will make excess returns (profits). – There will be an international competition over the
– Subsidize the activity with externalities, not all activities in an industry.
– For instance, R&D (as opposed to manufacturing) should be subsidized.
Slide 11-7
Sophisticated Arguments for Activist Trade Policy
• The Brander-Spencer Analysis: An Example
– There are only two firms (Boeing and Airbus) competing, each from a different country (United States and Europe).