曼昆宏观经济学第七版英文课件第八章
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曼昆的宏观经济学课件(英文版)
2000
CHAPTER 1 The Science of Macroeconomics
slide 9
Interest rates and mortgage payments
For a $150,000 30-year mortgage:
date
actual rate on 30-year mortgage
U.S. Gross Domestic Product
in billions of chained 1996 dollars
10,000 9,000
longest economic expansion on record
8,000
7,000
6,00R0 ecessions
5,000
4,000
3,000 1970
slide 2
Important issues in macroeconomics
▪ What is the government budget deficit?
How does it affect the economy?
▪ Why does the U.S. have such a huge trade
Unemployment and social problems
CHAPTER 1 The Science of Macroeconomics
slide 6
Unemployment and social problems
Each one-point increase in the unemployment rate is associated with:
slide 8
%
Unemployment and earnings growth
曼昆宏观经济学第七版英文课件第八章
( + n + g)k = break-even investment: the amount of investment necessary to keep k constant.
Consists of: k to replace depreciating capital
n k to provide capital for new workers g k to provide capital for the new “effective”
CHAPTER 8
Economic Growth II
5
Technological progress in the Solow model
We now write the production function as:
where L ×E = the number of effective workers. Increases in labor efficiency have the
If true, then the income gap between rich & poor
countries would shrink over time, causing living standards to “converge.”
In real world, many poor countries do NOT grow
CHAPTER 8Fra bibliotekEconomic Growth II
3
Examples of technological progress
From 1950 to 2000, U.S. farm sector productivity
Consists of: k to replace depreciating capital
n k to provide capital for new workers g k to provide capital for the new “effective”
CHAPTER 8
Economic Growth II
5
Technological progress in the Solow model
We now write the production function as:
where L ×E = the number of effective workers. Increases in labor efficiency have the
If true, then the income gap between rich & poor
countries would shrink over time, causing living standards to “converge.”
In real world, many poor countries do NOT grow
CHAPTER 8Fra bibliotekEconomic Growth II
3
Examples of technological progress
From 1950 to 2000, U.S. farm sector productivity
曼昆宏观经济学全部课件
预期通货膨胀的成本:
4. 不公平的税收待遇 •例如:资本利得税.
• 1/1/2001: 购买 $10,000 的股票 • 12/31/2001: 以 $11,000卖出所有股票,获得 名义资本利得 $1000 (10%). • 假设 = 10% in 2001. 实际资本利得为 $0. • 但依据税法，必须以$1000的资本利得缴税!!
超速通货膨胀
• 定义: 50% / 每月
• 前面所讲述的所有的通货膨胀带来的成本都
将变得巨大.
• 货币将失去其作为价值储藏的作用，也可能 失去其他功能 (计价单位，交易媒介). • 人们可能采取实物交易形式，或借助更稳定 的外币来完成交易.
超速通货膨胀的原因?
• 超速通货膨胀是由于货币供给的过度增 长. • 当中央银行印刷钞票，价格水平将上升. • 如果印发钞票的速度过快，就有可能导 致超速通货膨胀.
各国通货膨胀和名义利率
100 Nom ina l inte re st rate (per ce nt, loga rithm ic sc ale) Italy Franc e 10 Nige ria United Kingdom United States J apan Germany Singapore 1 10 100 1000 Inflation ra te (pe rc ent, logar ithm ic sc ale) Kazak hstan Kenya Uruguay Armenia
ADVANCED
MACROECONOMICS
LOGO
学习要点
• 通货膨胀的古典理论 – 原因 – 影响 – 社会成本 • ―古典” —— 假设价格具有弹性 ， 并且市场出清。 • 应用于长期研究
曼昆《经济学原理》(宏观经济学分册)英文原版PPT课件-23
© 2007 Thomson South-Western
THE MEASUREMENT OF GROSS DOMESTIC PRODUCT
• “. . . Produced . . .”
– It includes goods and services currently produced, not transactions involving goods produced in the past.
© 2007 Thomson South-Western
THE MEASUREMENT OF GROSS DOMESTIC PRODUCT
• “GDP is the Market Value . . .”
– Output is valued at market prices.
• “. . . Of All. . .”
FIRMS •Produce and sell goods and services •Hire and use factors of production
HOUSEHOLDS •Buy and consume goods and services •Own and sell factors of production
THE COMPONENTS OF GDP
• GDP includes all items produced in the economy and sold legally in markets. • What Is Not Counted in GDP?
– GDP excludes most items that are produced and consumed at home and that never enter the marketplace. – It excludes items produced and sold illicitly, such as illegal drugs.
THE MEASUREMENT OF GROSS DOMESTIC PRODUCT
• “. . . Produced . . .”
– It includes goods and services currently produced, not transactions involving goods produced in the past.
© 2007 Thomson South-Western
THE MEASUREMENT OF GROSS DOMESTIC PRODUCT
• “GDP is the Market Value . . .”
– Output is valued at market prices.
• “. . . Of All. . .”
FIRMS •Produce and sell goods and services •Hire and use factors of production
HOUSEHOLDS •Buy and consume goods and services •Own and sell factors of production
THE COMPONENTS OF GDP
• GDP includes all items produced in the economy and sold legally in markets. • What Is Not Counted in GDP?
– GDP excludes most items that are produced and consumed at home and that never enter the marketplace. – It excludes items produced and sold illicitly, such as illegal drugs.
昆曼围观经济学原理英文课件第八章
A PB B D C E
S
PS
F
D
QT
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
P
A PB B D C E
S
PS
F
D
QT
QE
Q
7
The Effects of a Tax
P
C + E is called the deadweight loss (DWL) of the tax, the fall in total surplus that results from a market distortion, such as a tax.
Wojciech Gerson (1831-1901)
Economics
Principles of
In this chapter, look for the answers to these questions
• How does a tax affect consumer surplus,
producer surplus, and total surplus?
Review from Chapter 6
A tax drives a wedge between the price buyers pay and the price sellers receive. raises the price buyers pay and lowers the price sellers receive. reduces the quantity bought & sold. These effects are the same whether the tax is imposed on buyers or sellers, so we do not make this distinction in this chapter.
曼昆《经济学原理》(宏观经济学分册)英文原版PPT课件
© 2007 Thomson South-Western
THE COMPONENTS OF GDP • GDP includes all items produced in the economy and sold legally n markets. • What Is Not Counted in GDP?
– Every transaction has a buyer and a seller. – Every dollar of spending by some buyer is a dollar of income for some seller.
© 2007 Thomson South-Western
Y = C + I + G + NX
© 2007 Thomson South-Western
THE COMPONENTS OF GDP • Consumption (C):
• The spending by households on goods and services, with the exception of purchases of new housing. • Investment (I):
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
• “. . . Final . . .” – It records only the value of final goods, not intermediate goods (the value is counted only once).
THE COMPONENTS OF GDP • GDP includes all items produced in the economy and sold legally n markets. • What Is Not Counted in GDP?
– Every transaction has a buyer and a seller. – Every dollar of spending by some buyer is a dollar of income for some seller.
© 2007 Thomson South-Western
Y = C + I + G + NX
© 2007 Thomson South-Western
THE COMPONENTS OF GDP • Consumption (C):
• The spending by households on goods and services, with the exception of purchases of new housing. • Investment (I):
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
• “. . . Final . . .” – It records only the value of final goods, not intermediate goods (the value is counted only once).
曼昆经济学原理英文课件Chap08
Price sellers receive
Size of tax (T)
Supply
Quantity sold (Q)
0
Quantity Quantity
with tax without tax
Demand
Quantity
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
It does not matter whether a tax on a good is levied on buyers or sellers of the good…the price paid by buyers rises, and the price received by sellers falls.
Tax Distortions and Elasticities...
Price
(d) Elastic Demand Supply
Size of tax
0
When demand is relatively elastic, the deadweight loss of a tax is large.
How a Tax Affects Welfare...
Price
Tax reduces consumer surplus by (B+C) and producer surplus by (D+E)
Price
buyers
A
pay = PB
Tax revenue = (B+D) Supply
Price
Size of tax
Supply
第七版-曼昆宏观经济学课件
18
两部门国民收入流量循环图
生产要素市场
Y
工资，租金，利息，利润
家 庭 储蓄 金融机构 投资 企 业
S
I
购买各种产品和劳务
C 商品市场
总收入
2019/12/31
C+S =Y= C+I
总支出
19
三部门国民收入流量循环图
TR
G
政府
TA1 Y
TA2
家庭 S
金融机构 I
总
收 入
C
C+S+（TA-TR）= Y = C+I+G
5) GDP 是一国范围内生产的最终产品和 劳务的市场价值。
6) GDP一般仅指市场活动导致的价值。
2019/12/31
6
3.名义的GDP和实际的GDP
1) 名义的GDP(Nominal GDP)
以一定时期市场价格表示的国内生产
总值，称作该时期的名义的GDP。
2) 实际的GDP(Real GDP)
3. 国民收入(NI)National Income NI = NDP-间接税-企业转移支付+政府补贴
4.个人收入(PI)Personal Income PI=NI-公司未分配利润-公司所得税-社会保险
税+政府对个人的转移支付 5. 个人可支配收入(PDI)
Personal Disposable Income PDI = PI - 个人所得税
2019/12/31
12
部门法
一块面包的GDP的部门法核算
生产部门
市场价值（元） 附加价值（元）
农资公司（种子化肥）
0.10
0.10
农场（种小麦）
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MACROECONOMICS
N. Gregory Mankiw
PowerPoint® Slides by Ron Cronovich
CHAPTER
8
Economic Growth II: Technology, Empirics, and Policy
Modified for EC 204 by Bob Murphy
faster than rich ones. Does this mean the Solow model fails?
CHAPTER 8
Economic Growth II
13
Growth empirics: Convergence
Solow model predicts that, other things equal,
© 2010 Worth Publishers, all rights reserved
SEVENTH EDITION
In this chapter, you will learn:
how to incorporate technological progress in
the Solow model
To find the Golden Rule capital stock, express c* in terms of k*: c* = y* i* ( + n + g) k* In the Golden Rule steady state, the marginal product of capital net of depreciation equals the pop. growth rate plus the rate of tech progress.
This prediction comes true in the real world.
CHAPTER 8
Economic Growth II
15
Growth empirics: Factor accumulation vs. production efficiency
Differences in income per capita among countries
CHAPTER 8
Economic Growth II
3
Examples of technological progress
From 1950 to 2000, U.S. farm sector productivity
nearly tripled. The real price of computer power has fallen an average of 30% per year over the past three decades. Percentage of U.S. households with ≥ 1 computers: 8% in 1984, 62% in 2003 1981: 213 computers connected to the Internet 2000: 60 million computers connected to the Internet 2001: iPod capacity = 5gb, 1000 songs. Not capable of playing episodes of True Blood. 2009: iPod capacity = 120gb, 30,000 songs. Can play episodes of True Blood.
similar savings & pop. growth rates, income gaps shrink about 2% per year.
In larger samples, after controlling for differences
in saving, pop. growth, and human capital, incomes converge by about 2% per year.
Economic Growth II
4
CHAPTER 8
Technological progress in the Solow model A new variable: E = labor efficiency Assume:
Technological progress is labor-augmenting: it increases labor efficiency at the exogenous rate g:
( + n + g)k = break-even investment: the amount of investment necessary to keep k constant.
Consists of: k to replace depreciating capital
n k to provide capital for new workers g k to provide capital for the new “effective”
k = K/(L×E )
y = Y/(L×E )
0
0
Output per worker
Total output
CHAPTER 8
(Y/ L) = y×E
Y = y×E×L
g
n+g
10
Economic Growth II
The Golden Rule with technological progress
Production function per effective worker:
y = f(k)
Saving and investment per effective worker:
s y = s f(k )
CHAPTER 8
Economic Growth II
7
Technological progress in the Solow model
Solow model predicts real wage grows at same
rate as Y/L, while real rental price is constant.
Also true in the real world.
CHAPTER 8
Economic Growth II
can be due to differences in: 1. capital – physical or human – per worker
11
= f (k* )
c* is maximized when MPK = + n + g or equivalently, MPK = n + g
CHAPTER 8
Economic Growth II
Growth empirics: Balanced growth
Solow model’s steady state exhibits
( +n +g ) k
sf(k)
k*
CHAPTER 8
Economic Growth II
Capital per worker, k
9
Steady-state growth rates in the Solow model with tech. progress
Capital per effective worker Output per effective worker
same effect on output as increases in the labor force.
CHAPTER 8
Economic Growth II
6
Technological progress in the Solow model
Notation:
y = Y/LE = output per effective worker k = K/LE = capital per effective worker
workers created by technological progress
CHAPTER 8
Economic Growth II
8
பைடு நூலகம்
Technological progress in the Solow model
Investment, break-even investment
k = s f(k) ( +n +g)k
If true, then the income gap between rich & poor
countries would shrink over time, causing living standards to “converge.”
In real world, many poor countries do NOT grow
Introduction
In the Solow model of Chapter 7, the production technology is held constant. income per capita is constant in the steady state. Neither point is true in the real world: 1908-2008: U.S. real GDP per person grew by a factor of 7.8, or 2.05% per year. examples of technological progress abound (see next slide).
N. Gregory Mankiw
PowerPoint® Slides by Ron Cronovich
CHAPTER
8
Economic Growth II: Technology, Empirics, and Policy
Modified for EC 204 by Bob Murphy
faster than rich ones. Does this mean the Solow model fails?
CHAPTER 8
Economic Growth II
13
Growth empirics: Convergence
Solow model predicts that, other things equal,
© 2010 Worth Publishers, all rights reserved
SEVENTH EDITION
In this chapter, you will learn:
how to incorporate technological progress in
the Solow model
To find the Golden Rule capital stock, express c* in terms of k*: c* = y* i* ( + n + g) k* In the Golden Rule steady state, the marginal product of capital net of depreciation equals the pop. growth rate plus the rate of tech progress.
This prediction comes true in the real world.
CHAPTER 8
Economic Growth II
15
Growth empirics: Factor accumulation vs. production efficiency
Differences in income per capita among countries
CHAPTER 8
Economic Growth II
3
Examples of technological progress
From 1950 to 2000, U.S. farm sector productivity
nearly tripled. The real price of computer power has fallen an average of 30% per year over the past three decades. Percentage of U.S. households with ≥ 1 computers: 8% in 1984, 62% in 2003 1981: 213 computers connected to the Internet 2000: 60 million computers connected to the Internet 2001: iPod capacity = 5gb, 1000 songs. Not capable of playing episodes of True Blood. 2009: iPod capacity = 120gb, 30,000 songs. Can play episodes of True Blood.
similar savings & pop. growth rates, income gaps shrink about 2% per year.
In larger samples, after controlling for differences
in saving, pop. growth, and human capital, incomes converge by about 2% per year.
Economic Growth II
4
CHAPTER 8
Technological progress in the Solow model A new variable: E = labor efficiency Assume:
Technological progress is labor-augmenting: it increases labor efficiency at the exogenous rate g:
( + n + g)k = break-even investment: the amount of investment necessary to keep k constant.
Consists of: k to replace depreciating capital
n k to provide capital for new workers g k to provide capital for the new “effective”
k = K/(L×E )
y = Y/(L×E )
0
0
Output per worker
Total output
CHAPTER 8
(Y/ L) = y×E
Y = y×E×L
g
n+g
10
Economic Growth II
The Golden Rule with technological progress
Production function per effective worker:
y = f(k)
Saving and investment per effective worker:
s y = s f(k )
CHAPTER 8
Economic Growth II
7
Technological progress in the Solow model
Solow model predicts real wage grows at same
rate as Y/L, while real rental price is constant.
Also true in the real world.
CHAPTER 8
Economic Growth II
can be due to differences in: 1. capital – physical or human – per worker
11
= f (k* )
c* is maximized when MPK = + n + g or equivalently, MPK = n + g
CHAPTER 8
Economic Growth II
Growth empirics: Balanced growth
Solow model’s steady state exhibits
( +n +g ) k
sf(k)
k*
CHAPTER 8
Economic Growth II
Capital per worker, k
9
Steady-state growth rates in the Solow model with tech. progress
Capital per effective worker Output per effective worker
same effect on output as increases in the labor force.
CHAPTER 8
Economic Growth II
6
Technological progress in the Solow model
Notation:
y = Y/LE = output per effective worker k = K/LE = capital per effective worker
workers created by technological progress
CHAPTER 8
Economic Growth II
8
பைடு நூலகம்
Technological progress in the Solow model
Investment, break-even investment
k = s f(k) ( +n +g)k
If true, then the income gap between rich & poor
countries would shrink over time, causing living standards to “converge.”
In real world, many poor countries do NOT grow
Introduction
In the Solow model of Chapter 7, the production technology is held constant. income per capita is constant in the steady state. Neither point is true in the real world: 1908-2008: U.S. real GDP per person grew by a factor of 7.8, or 2.05% per year. examples of technological progress abound (see next slide).