巴罗宏观经济学：现代观点第6章
合集下载
相关主题
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
• Each household rents out all of the capital that it owns on a rental market.
– We think of the capital offered on the rental market as the supply of capital services, Ks. Since we have assumed that each household rents out all of its capital, we have Ks = K.
4
The goods Market and Prices
– Y= A·F( K, L)
• Since all of these goods are sold on the goods market, the variable Y will also represent the
• Quantity of goods per year sold and bought on the goods market.
• A household that makes a loan receives a piece of paper called a bond, and we call the market on which households borrow or lend the bond market. The holder of a bond, the lender, has a claim to the amount owed by the borrower.
• consumption. • to increase the stock of goods in the form of
capital used for production, called investment.
Macroeconomics
3
The Goods Market and Prices
Y= A·F( K, L)
Macroeconomics
1源自文库
Markets in the Macroeconomy
Households
Goods market
Labor market
Households (Firms)
Bond market
Rental market
Macroeconomics
2
The Goods Market
– The real rental price is R/P.
Macroeconomics
9
The Bond Market in the Macroeconomy
• A borrowing household receives a loan from another household, whereas a lending household provides a loan to another household.
• The price in this goods market, denoted by P, expresses the number of dollars that exchange for one unit of goods.
• We call P the price level.
Macroeconomics
Markets in the Macroeconomy
• Assuming that households perform all of the functions in the economy.
• Each household runs a family business and uses labor, L, and capital, K, to produce goods, Y, through the production function.
Macroeconomics
8
Rental Markets and Prices
– Households rent out capital, K, for dollars at the dollar or nominal rental price, R
• A household that rents the amount of capital Kd pays the nominal amount RKd per year and then gets to use the capital as an input to production.
• The quantity PY is the dollar value per year of the goods bought and sold on the goods market.
Macroeconomics
5
The goods Market and Prices
• The expression 1/P is the value of $1 in terms of the goods that it buys.
– Households buy and sell labor in the labor market at the dollar or nominal wage rate, w.
– The real wage rate is w/P.
Macroeconomics
7
Rental Markets in the Macroeconomy
Macroeconomics
6
Labor Market in the Macroeconomy
• Households supply labor on a labor market.
– Assume that the quantity supplied, Ls, is a constant, L.
• M dollars exchange for
(M) ·(1/ P) = M/P – An expression like M/P is in real terms, in units of
goods, whereas a quantity like M is in dollar or nominal terms.
– Households sell all the goods they produce on a goods market. Then households buy back from this market the goods that they want.
– Household buys goods for
– We think of the capital offered on the rental market as the supply of capital services, Ks. Since we have assumed that each household rents out all of its capital, we have Ks = K.
4
The goods Market and Prices
– Y= A·F( K, L)
• Since all of these goods are sold on the goods market, the variable Y will also represent the
• Quantity of goods per year sold and bought on the goods market.
• A household that makes a loan receives a piece of paper called a bond, and we call the market on which households borrow or lend the bond market. The holder of a bond, the lender, has a claim to the amount owed by the borrower.
• consumption. • to increase the stock of goods in the form of
capital used for production, called investment.
Macroeconomics
3
The Goods Market and Prices
Y= A·F( K, L)
Macroeconomics
1源自文库
Markets in the Macroeconomy
Households
Goods market
Labor market
Households (Firms)
Bond market
Rental market
Macroeconomics
2
The Goods Market
– The real rental price is R/P.
Macroeconomics
9
The Bond Market in the Macroeconomy
• A borrowing household receives a loan from another household, whereas a lending household provides a loan to another household.
• The price in this goods market, denoted by P, expresses the number of dollars that exchange for one unit of goods.
• We call P the price level.
Macroeconomics
Markets in the Macroeconomy
• Assuming that households perform all of the functions in the economy.
• Each household runs a family business and uses labor, L, and capital, K, to produce goods, Y, through the production function.
Macroeconomics
8
Rental Markets and Prices
– Households rent out capital, K, for dollars at the dollar or nominal rental price, R
• A household that rents the amount of capital Kd pays the nominal amount RKd per year and then gets to use the capital as an input to production.
• The quantity PY is the dollar value per year of the goods bought and sold on the goods market.
Macroeconomics
5
The goods Market and Prices
• The expression 1/P is the value of $1 in terms of the goods that it buys.
– Households buy and sell labor in the labor market at the dollar or nominal wage rate, w.
– The real wage rate is w/P.
Macroeconomics
7
Rental Markets in the Macroeconomy
Macroeconomics
6
Labor Market in the Macroeconomy
• Households supply labor on a labor market.
– Assume that the quantity supplied, Ls, is a constant, L.
• M dollars exchange for
(M) ·(1/ P) = M/P – An expression like M/P is in real terms, in units of
goods, whereas a quantity like M is in dollar or nominal terms.
– Households sell all the goods they produce on a goods market. Then households buy back from this market the goods that they want.
– Household buys goods for