经管营销第三章简单凯恩斯模型

• Total spending or “aggregate expenditures” may be represented algebraically by the equation:
– AE=Consumption+Investment+Government Expenditures+Net Exports
Keynesian
Intermediate
Classical
Range
Range
Range
Potential Output
The most important assumption underlying this model is that prices are fixed.
Keynes didn’t believe this but did believe that
Value of Category 1996
($, billion)
Durable goods
Motor vehicles
222
Household equipment
212
Other
104
Nondurable goods
Food
Hale Waihona Puke 658Clothing and apparel
237
Energy
119
Other
336
Services
Housing
628
Household operation
251
Transportation
170
Medical care
681
Other
773
Total, personal
consumption expenditures
538 1,350
2,504
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Consumption
• The largest component of aggregate expenditures.
• Accounts for almost 70% of total aggregate expenditures in the U.S.
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Category of consumption
when the economy is in the recessionary range,
prices and wages were sufficiently inflexible so
that income would adjust much faster than
prices.
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Aggregate Output
简单凯恩斯模型
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思考题
• 国民收入(产出或GDP)由什么决定？
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第一节 均衡产出
• 一，假设： • 1、家户和企业 • 2、总需求变动时，只会引起产量变动，
使供求相等，而不会引起价格变动。
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The Assumption Of Fixed Prices
Price
Level
10
The Implication
• The fixed price assumption allowed Hansen and Samuelson to develop a Keynesian model readily distinguishable from the aggregate supply-aggregate demand model.
• The level of consumption that occurs regardless of changes in one’s income is called “autonomous consumption.”
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Induced Consumption
• Second, there is a level of “induced consumption” that will depend on the individual’s disposable income.
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Income (GDP)
15
Aggregate Expenditures
Expenditures
The AE curve intersects the vertical axis above zero
45°
Aggregate Expenditures
Autonomous consumption happens independently of income
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The Keynesian Model
二，均衡产出：和总需求相等的产出。
Aggregate Expenditures
100
IU<0 45
IU>O
AE=C+I+G+X
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Real GDP, Output
12
第二节，消费函数理论
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Aggregate Expenditures
Percent of total
12
31
57
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100
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Autonomous Consumption
• First, there is a level of consumption that occurs even if a person loses his or her job.
– This person will still be able to consume by dipping into savings.
Q
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QP Income (GDP)
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The Keynesian
Expenditure Function
• To fully understand how the Keynesian model works, we have to examine the major components of the Keynesian Expenditure Function: consumption, investment, government expenditures, and net exports.
• The aggregate expenditures curve is simply the vertical summation of these four components.
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Aggregate Expenditures
Expenditures
45°
Aggregate Expenditures