斯蒂芬D威廉森宏观经济学第三版第十五章
15.宏观第十五章 思考题答案详解
第十五章思考题A、B、C详解一、思考题A：基础知识题1、A 抑制需求拉上的通货膨胀，应该控制货币供应量，同时要增加商品的供给量。
2、C 菲利普斯曲线说明通货膨胀与失业率之间呈负相关3、B 充分就业是当经济只存在自然失业率时的失业4、C可以消除的失业是有效需求不足引起的失业5、通货膨胀指经济的物价总水平或一般物价水平在一定的时期内持续的上升过程。
6、通货膨胀的经济效应主要是包括再分配效应和产出效应。
通货膨胀的再分配效应表现为：其一，通货膨胀不利于靠固定的货币收入维持生活的人。
对于固定收入阶层来说，其收入是固定的货币数额，落后于上升的物价水平。
其实际收入因通货膨胀而减少，他们持有的每一单位收入的购买力将随价格水平的上升而下降。
相反，那些靠变动收入维持生活的人则会从通货膨胀中得益。
例如，那些从利润中得到收入的企业主也能从通货膨胀中获利，如果其产品价格比资源价格上升的快得话，则企业的收入将比它的产品的成本增加得快。
其二，通货膨胀可以在债务人和债权人之间发生收入再分配的作用。
一般地，通货膨胀靠牺牲债权人的利益而使债务人获利。
通货膨胀对产出的影响可以通过各种情况来说明，这里只说明两种主要的情况。
第一种情况：随着通货膨胀出现，产出增加。
这就是需求拉动的通货膨胀的刺激，促进了产出水平的提高。
许多经济学家长期以来坚持这样的看法，即认为温和的或爬行的需求拉动通货膨胀对产出和就业将有扩大的效应。
假设总需求增加，经济复苏，造成一定程度的需求拉动的通货膨胀。
在这种条件下，产品的价格会跑到工资和其他资源的前面，由此而扩大了企业的利润。
利润的增加就会刺激企业扩大生产，从而产生减少失业，增加国民产出的效果。
这种情况意味着通货膨胀的再分配后果会由于更多的就业、增加产出所获得的收益所抵消。
例如，对于一个失业工人来说，如果他惟有在通货膨胀条件之下才能得到就业机会，显然，他就受益于通货膨胀。
第二种情况：成本推动通货膨胀引致失业。
这里讲的是通货膨胀引起的产出和就业的下降。
许纯祯《西方经济学》(第3版)课后习题详解(第15章 开放经济的宏观经济学)
许纯祯《西方经济学》（第3版）第十五章 开放经济的宏观经济学课后习题详解跨考网独家整理最全经济学考研真题，经济学考研课后习题解析资料库，您可以在这里查阅历年经济学考研真题，经济学考研课后习题，经济学考研参考书等内容，更有跨考考研历年辅导的经济学学哥学姐的经济学考研经验，从前辈中获得的经验对初学者来说是宝贵的财富，这或许能帮你少走弯路，躲开一些陷阱。
以下内容为跨考网独家整理，如您还需更多考研资料，可选择经济学一对一在线咨询进行咨询。
一、基本概念汇率 汇率制度 外汇市场 净出口 资本净流出 BP 曲线 内外均衡 直接标价法 间接标价法 本币贬值（升值） IS LM BP --模型答：略。
二、思考题1．直接标价法和间接标价法有什么区别和联系？答：两者的区别在于：直接标价法是指以一定单位的国外货币为标准，用本国货币的数量来表示固定单位的外国货币的价格。
间接标价法同直接标价法相反，它以一定单位的本国货币为标准，用外国货币的数量来表示固定单位的本国货币的价格。
两者的联系在于：其实直接标价法和间接标价法从实质上是相通的，是一块硬币的两面。
大多数国家都采用直接标价法，采取间接标价法的主要是美国和英国。
由于两种标价法的外汇牌价互为倒数，所以货币的贬值和升值在两种标价法下也意味着相反的变化趋势，直接标价法的牌价上升，说明本币贬值，外币升值；而间接标价法下的牌价上升，说明本币升值，外币贬值。
同样是牌价的上升，但两种标价法下的含义完全相反。
2．怎样理解净出口和资本净流出是同一硬币的不同侧面？答：净出口是出口与进口的差额，一般用NX 表示。
资本净流出是国内储蓄和国内投资之间的差额()S I -。
资本净流出和净出口是同一枚硬币的两面，它们的关系分析如下：由国民收入核算恒等式：Y C I G NX =+++，可以得到：Y C G I NX --=+。
同时，S Y C G =--，因此，S I NX =+，即S I NX -=。
威廉森宏观经济学
威廉森宏观经济学
威廉森宏观经济学是一本经济学方面的经典教材，由美国经济学家史蒂芬·威廉森（Stephen Williamson）所著。
该书主要介绍宏观经济学理论的基本概念和分析方法，包括经济增长、通货膨胀、失业等方面的内容。
威廉森教授在书中强调了新古典主义宏观经济学的重要性，并详细解释了该理论的基本原理和模型。
同时，他也探讨了该理论的一些争议和批评，例如在货币政策方面的应用和政府干预的影响等。
该书对于经济学专业的学生和从事经济研究的人士都具有重要的参考价值。
- 1 -。
宏观经济学第十五章
父母为什么要留遗产？
李嘉图等价的核心问题：不同代人之 间的联系；
父母为什么要为子女留下遗产：
利他主义； 控制子女，以不留遗产来威胁他们；
经验证据：父母越富有，子女回家次 数越多；而且，只有可以作为遗产留 下的财富才能导致更经常的回家探望 父母。
结论：不仅仅是“利他主义”。
27
15.3.3 政府债务的其它观点
1. 平衡预算与最优财政政策
一些政治家提议修改美国宪法，要求平衡每年 的联邦政府预算。
许多经济学家反对这个建议，认为赤字可以用 于：
稳定产出与就业 在收入波动时，平稳化税收 在适当的时机实现代际收入的再分配
28
政府债务的其它观点
2. 对货币政策的影响
• 政府赤字可以通过发行货币弥补 • 高额的政府赤字鼓励决策者创造通货膨胀 (以损害
据李嘉图等价定理，举 债弥补税收的减少不会 影响消费、国民储蓄、 实际利率、投资、净出 口或者实际GDP，即使 是在短期内。
22
李嘉图等价定理的逻辑
消费者是向前看的，今天减税形成的债务 意味着未来税收的增加（将来增加的税收 的现值等于今天减少的税收）。
减税不会使消费者变富，因此他们不会增 加消费。
1. 通货膨胀 2. 资本资产 3. 未计算的负债 4. 经济周期
12
衡量问题 1:
通货膨胀
为了理解通货膨胀何以成为问题，假定实 际债务不变，这意味着零实际赤字。
在此情况下，名义债务按通货膨胀率增加：
D/D = or D = D
报告期的(名义)赤字为 D，即使实际赤字
为零。
因此，为校正通货膨胀，必须从报告期赤 字中减去 D 。
二战 一战
冷战 反恐战
5
任保平《宏观经济学》笔记(第15章 宏观经济学概论)
任保平《宏观经济学》第十五章 宏观经济政策复习笔记跨考网独家整理最全经济学考研真题，经济学考研课后习题解析资料库，您可以在这里查阅历年经济学考研真题，经济学考研课后习题，经济学考研参考书等内容，更有跨考考研历年辅导的经济学学哥学姐的经济学考研经验，从前辈中获得的经验对初学者来说是宝贵的财富，这或许能帮你少走弯路，躲开一些陷阱。
以下内容为跨考网独家整理，如您还需更多考研资料，可选择经济学一对一在线咨询进行咨询。
一、政府的宏观经济行为1．政府的储蓄、投资和借贷（1）政府的收入和支出政府大部分收入来自于税收。
这些税收可分为三大类：①个人和公司的所得税，包括工资收入的社会保障税；②支出税，包括销售税、消费税和进口关税；③财产税，包括对房屋建筑、农村居住用地和遗产所征收的各种税。
政府支出包括政府购买和政府转移支付等。
政府的税收减少了可支配收入，而转移支付对消费需求的作用与税收恰恰相反，它增加了家庭的可支配收入。
政府部门作为储蓄人的一部分，其资金收付活动是通过财政的收入和支出进行的，政府储蓄就是财政收入与财政支出的差额，即财政节余。
（2）政府的储蓄、投资和借贷间的相互关系假定政府向家庭和企业征收一次性总额税T ，当政府的支出与收入不等时，政府就会像私有部门一样借款或贷款。
假设g B 是政府的净金融资产存量，其随时间变化关系如下：()11g g g g t t B B rB T G I --=++-+其中，r 为利息率；T 为扣除转移支付后的税收；G 为政府的消费支出；g I 为政府的投资支出。
该式表明：即期期末政府资产＝前期期末政府资产＋资产利息＋政府税收－政府消费和投资支出 假设政府净债务为g D ，是负金融资产，所以11g g g g g t t D B D rD G I T --=-=+++-，变形得：11g g g g t t D D G rD I T ---=++-等式左边是政府净债务的变化量（1g g t D D --），右边是预算赤字或负储蓄（DEF ）。
微观经济学 曼昆 第十五章ppt课件
▪ 垄断企业（以及其他具有市场势力的企业）试图对
有更高支付意愿的消费者收取更高的价格来增加利 润，这种行为称为价格歧视
29
内容提要
▪ 政策制定者可以通过以下方法管制垄断：用反托拉
斯法来赠强竞争，或者把垄断企业变为政府经营的 企业。由于这些方法都存在问题，最好的选择可能 是不作为
D Q
6
主动学习 1
垄断者的收益
Common Grounds是 小镇上卡布奇诺咖啡 Q P TR
的唯一卖者 表中表示了对T卡布奇 诺咖啡的市场需求
0 $4.50 1 4.00
将该表填写完整
2 3.50
P与AR有什么关系？ 3 3.00
P与MR有什么关系？ 4 2.50
5 2.00
6 1.50
AR MR n.a.
完MO整N版OPPPOTL课Y 件
10
利润最大化
▪ 与竞争性企业一样，垄断者最大化它的利润直到
MR = MC
▪ 一旦垄断者决定好生产数量，它将把消费者为那
个数量所愿意支付的最高价格作为市场价格
▪ 垄断者从需求曲线上找出这个价格
完MO整N版OPPPOTL课Y 件
11
利润最大化
成本与收
1. 利润最大化的产 益
垄断者没有供给曲线
一个竞争性企业
▪ 把价格作为给定 ▪ 有一条供给曲线，表示出它的产量如何取决于价格
一个垄断企业
▪ 是一个“价格制定者”，而不是“价格接受者” ▪ 产量并不取决于价格，而是产量与价格由MC, MR
与需求曲线共同决定
因此，垄断者没有供给曲线
完MO整N版OPPPOTL课Y 件
西方经济学课后习题答案 第十五章
第十五章开放经济的宏观经济学1．什么是名义汇率与实际汇率?两者之间的关系如何表示?【参考答案】名义汇率是两个国家（或地区）货币的相对价格，即一种货币能兑换成另一种货币的数量，用e 表示。
名义汇率有两种不同的标价方法，一种是直接标价法，用本国货币表示的国外货币的价格，另一种是间接标价法，用国外货币表示本国货币的价格。
实际汇率是用两国（或地区）价格水平对名义汇率加以调整后的汇率，用ε表示。
与名义汇率相比，实际汇率更能说明一国（或地区）货币的真实购买力。
如果本国产品的价格用本币表示为P ，某一国外产品的价格用外币表示为f P ，国内居民持有本国货币要购买国外商品，在国外生产商只接受外币来交换其商品的条件下，本国居民应该先用本币以名义汇率e 购买该外币，然后用该外币以f P 的价格购买国外产品，这样，一单位国外商品用本币单位数量来表示就等于f eP 。
由此可见，实际汇率与名义汇率之间的关系可以表示为：fP e P ε=。
2.实际汇率与净出口关系如何表达?【参考答案】实际汇率的变化会影响一国的净出口。
一般来说，影响进出口的主要因素是一国的国民收入、进出口的商品相对价格、关税、进出口商品量限额等因素。
由于实际汇率是本国商品和服务相对于国外商品和服务的价格，它的变化直接影响出口和进口。
对于进口来说，如果本币升值，国外商品和服务就变得相对便宜，故进口正向地取决于本币升值。
对于出口来说，如果本币升值，本国出口商品会变得相对昂贵，从而抑制了出口，故出口反向地取决于汇率变动。
由于净出口是出口与进口的差额，从总体上来看，净出口反向地取决于本币升值。
用图形表示：3．在固定汇率的蒙代尔-弗莱明模型里,扩张性的财政政策与货币政策对国民收入有什么影响?【参考答案】在固定汇率制下，中央银行必须对外汇市场进行干预以维持汇率的固定水平。
以下我们用图形具体分析固定汇率制下扩张性的财政政策和货币政策对国民收入的影响。
首先，分析扩张性的财政政策对国民收入的影响。
斯蒂芬D威廉森宏观经济学第三版第十五章Stephen-D
18
Equation 15.9
Pareto optimality requires that
19
Equation 15.10
wants. • The causes and effects of long-run inflation. • Financial intermediation and banking.
2
Alternative Forms of Money
• Commodity money • Circulating private bank notes • Commodity-backed paper currency • Fiat money • Transactions deposits at banks
26
Equation 15.12
• The marginal rate of substitution of early consumption for late consumption is
27
Equation 15.13
• First constraint that a deposit contract must satisfy is
9
Equation 15.1
Assume that the central bank causes the money supply to grow at a constant rate.
10
Equation 15.2
In equilibrium, money supply equals money demand.
经济思想史(第三版)课件第十五章
• 阶段一：创新导致了经济的繁荣。创新为创新者带来超额利润。受利益的驱 动，其他企业纷纷仿效，社会投资增加，生产资料价格上升，信贷扩张，国 民收入增长，经济走向繁荣，从而形成“创新的第一次浪潮”。他特别强调 信贷在创新活动中的作用，认为信贷为企业家提供了创新所需要的购买力， 以便资源从其他领域投入到创新领域，支持创新的发展。
8
• 根据这一理论,哈耶克提出了对付经济波动的政策 主张，就是使货币保持中性。这就要求货币当局 只能在不干扰消费品需求和资本品需求的比例的 条件下变动货币量。但他认为,这一要求实际上是 无法满足的。因此,对货币政策能够得出的唯一的 实际准则是一个消极的准则,即生产和贸易的增加 并不能成为扩张信贷的正当理由;除了严重的危机 时期外,银行家不必顾虑过于谨慎会妨害生产。
货，或最能发挥一般交换手段这一功能的财货。货币价值 由其购买力决定，货币交换价值取决于被用作货币的财货 当时所有的价值。 • 他不赞同货币数量说，区分了货币和银行或其他经济主体 发行的可充作流通手段的信用凭证。并在此基础上提出了 关于流通手段或信用的理论。 • 银行信用自由变化条件下会引起货币利率和均衡利率的差 异从而引起通货膨胀或紧缩，造成繁荣与萧条的周期性波 动
20
15
3.四阶段经济周期模式
16
4.“三种周期”论 • 熊彼特根据周期时间跨度、波动幅度等方面归纳出三种周
期图示： • 第一种周期是长达五十多年的经济长周期或称长波。又被
称为“康德拉季耶夫周期”。 • 第二种周期是平均9年到10年的中周期，或称为中波。又
被称为“朱格拉周期”。 • 第三种周期是平均40个月（3年到4年）的短周期，或称短
5
第二节 哈耶克的货币和经济波动理论
宏观经济学 第十五章 宏观经济政策实践与分析.
三、货币政策
------指政府货币当局即中央银行通过银行体 系变动货币供给量来调节总需求从而影响 产出或物价的政策（P518）。 如上图，在IS曲线不变下，央行通过增加货 币供应使LM曲线右移，均衡产出增加，r 下降；反之，减M则使LM左移，均衡产出 减少，r上升。
2018/10/7
3、机制：
1）低于充分就业（闲置资源）
L1↑ G↑→ Y↑ L2↓→r↑→ I↓
2）充分就业（资源充分利用） G↑→P↑→M/P ↓→r↑→ I↓
注：充分就业条件下，短期内由于货币幻觉的存在，就 业和产量增加，长期内则具有完全的挤出效应。 货币幻觉：货币幻觉即人们不是对实际价值作出 反应，而是对用货币来表示的价值作出反应。
LM0 E1 E0 LM1
E2
IS1
IS0
Y0 Y1 Y2
Y
11
2018/10/7
二、财政政策
------指政府变动税收和支出以便影响总需 求进而影响就业和国民收入的政策 P518）。
如上图，在LM曲线不变下，政府通过增加 G或减T使IS曲线右移，均衡产出增加，r 上升；反之，减G或增T则使IS左移，均 衡产出减少，r下降。
2018/10/7 17
（3）机制
政府税收：个人与公司所得税 萧条→个人与公司收入下降→符合纳税标准的主体自 动减少、税率自动下降→政府税收自动下降→消费↑、 投资↑→AD↑ 政府转移支付： 萧条→失业人数↑→符合领取救济标准的人数 ↑→TR↑→DPI↑→C↑→AD↑ 农产品价格维持制度 萧条，农产品价格↓→政府收购→农场主收入 ↑→C、I↑ 繁荣，农产品价格↑→政府抛售→农产品价格↓ 避免经济过热
一、财政的构成与财政政策工具（1） 财政政策是政府通过变动政府收入和支出水 平，从而影响AD，最终影响均衡国民产出 水平，以保持国民经济稳定的措施。 1、政府的收入来源（P543）
宏观经济学-课后思考题答案_史蒂芬威廉森016
宏观经济学-课后思考题答案_史蒂芬威廉森016Chapter 16Unemployment: Search and Efficiency WagesTeaching GoalsThus far in the text, the only formal explanation for the phenomenon of unemployment has been in the context of the Keynesian sticky price model. If there is nominal wage rigidity, the real wage may become stuck at a level that implies an excess supply of labor. This chapter supplies two models of unemployment that are more firmly grounded in microeconomic principles.The first model of unemployment is the search model. In this framework, unemployment is a socially useful phenomenon that may improve the quality of matches between workers and firms. When studying the model, it is important to remind students that factors that raise the equilibrium unemployment rate may not be bad, and factors that reduce the equilibrium unemployment may not be good. The focus of the search model is primarily microeconomic in nature. The search model explains what incentives work as households change their behavior in the face of new policies. The microfoundations are very powerful here, as they allow us to experiment at no cost with various policy schemes, yet they give us results of macroeconomic importance: how do taxes or unemployment insurance alter the unemployment rate?The second model of unemployment is the efficiency wage model. This model provides an explanation of unemployment that is hard to empirically distinguish from the Keynesian sticky wage model. In both models, unemployed workers stand willingto accept employment at the prevailing wage rate, and yet cannot find work. However, in the sticky wage model it is plausible to imagine a scenario in which an unemployed worker can successfully agree to work at a wage lower than the prevailing wage. In the efficiency wage model, it is never in the interest of a firm to hire such a “bargain” worker, because the worker cannot commit to put in enough effort to make his employment worthwhile to the firm. The main advantage of this model is that it reconciles such “involuntary” unemployment with optimizing behavior. However, the model is less successful as a part of a consistent explanation of business cycles. The model cannot easily explain the fact that the real wage rate is procyclical.Classroom Discussion TopicsBy now, students should be comfortable with the idea that perfectly competitive markets generate efficient outcomes, as long as there are no externalities. In what sense does the structure of the job search model approximate perfect competition? Are there any possible sources of externalities? Is there some sense in which there may be elements of monopolistic competition? If the job search model is anything like a competitive market, do we have any reason to think that the unemployment rate might be too high or too low relative to a Pareto optimum? If an undistorted market provides the right amount of unemployment, then unemployment insurance leads to an inefficiently high rate of unemployment. Does this line of reasoning make a good case for eliminating unemployment insurance? Where does the desire to avoid risks come in? And moral hazard?152 Williamson ? Macroeconomics, Third EditionIt is useful to point out that the fundamental theorems of welfare economics are worked out in a model in which there is complete information, and where no passage of time is needed to equilibrate the market. Job search is only necessary because workers do not possess complete information, and time is required to acquire additional information. Do these considerations have any relevance for the question of the socially optimum amount of unemployment?The efficiency wage model does not do a very good job of explaining business cycles because it cannot rationalize a procyclical real wage rate. Suppose instead that we had an economy with two sectors. In one sector, firms find it optimal to pay an efficiency wage and there is an excess supply of workers at the optimal efficiency wage. In the other sector, perhaps worker effort and ability are directly observable. Now suppose that there is an increase in total factor productivity. While the wage paid in the efficiency wage sector may be unchanged, what is the likely effect on wages in the rest of the economy? Does this consideration improve the ability of the efficiency wage model to explain business cycle models? Is there likely to be any unemployment in this kind of economy? Why or why not? If there is no unemployment, does the existence of an efficiency wage sector add anything to our understanding of business cycles over and above the explanation given by the real business cycle model?OutlineI. Behavior of Unemployment and Participation RatesA. Determinants of the Unemployment Rate1. Aggregate Economic Activity2. Demography3. Government-Provided Unemployment Insurance4. Sectoral ShiftsB. The Participation Rate1. L ong-Run Trendsa. Participation Rate of Menb. Participation Rate of Women2. Cyclical VariationsII. A Search Model of UnemploymentA. Welfare of Employed Workers1. Real Wage2. Separation Rate3. Wage Income TaxB. Welfare of Unemployed Workers1. Size of Unemployment Insurance Benefit2. Frequency of Job Offers3. Unemployment Insurance Benefit T axC. Reservation Wage1. Welfare of Job Offer ≥ Welfare of Remaining Unemployed2. Increase in Unemployment Insurance Benefit *w ?↑3. Increase in Wage Tax *w ?↑Chapter 16 Unemployment: Search and Efficiency Wages 153D. Determinants of the Equilibrium Unemployment Rate1. Flows out of Employment2. Flows out of Unemployment3. The Wage Offer Distribution4. Effects of Disturbancesa. Increase in Unemployment Insurance Benefits U ?↑b. Increase in Job Offer Rate U ?↓c. Increase in Wage Tax U ?↑d. Increase in Benefit Tax U ?↓5. The Natural Rate of UnemploymentIII. The Efficiency Wage ModelA. Wages and Effort1. Adverse Selection: Unobserved Ability2. Moral Hazard: Unobserved ShirkingB. Optimization by the Firm 1. L abor Demand: ()()e w N e w MP w =2. Efficiency Wage: Maximize()e w wC. Labor Market Equilibrium1. >* Market-Clearing Wage w a. ()d s N N r <b Efficiency Wage Unemployment2. ≤* Market-Clearing Wage wD. Efficiency Wages and Business Cycles1. An Increase in Government Purchases: ,,,0r C I Y w U ↑↓↓Δ=Δ=Δ=2. An Increase in Total Factor Productivity: ,,,,0Y U C I w ↑↓↑↑Δ=3. An Improvement in Monitoring: w ↓Textbook Question SolutionsQuestions for Review1. The four key determinants of the unemployment rate are the level of aggregate economic activity,demographic factors, government intervention, and sectoral shifts.2. The unemployment rate is countercyclical.3. Different demographic groups often experience differing levels of unemployment. The unemploymentrate is higher when the composition of the work force includes a higher percentage of groups that typically experience more unemployment. As one example, younger workers whohave recentlyentered the work force typically experience more unemployment. The aggregate unemployment rate is therefore higher when young workers represent a larger-than-normal proportion of the work force.154 Williamson ? Macroeconomics, Third Edition4. The participation rate is procyclical.5. The welfare of the employed increases when the real wage increases, when the separation ratedecreases, and when taxes on wage income decrease.6. The welfare of the unemployed increases when the unemployment benefit increases, when thefrequency with which the unemployed receive job offers increases, and when the taxes onunemployment benefits decreases.7. The reservation wage is the wage offer that equates the welfare of accepting a job offer with thewelfare of remaining unemployed. The reservation wage increases when the welfare of beingemployed decreases and when the welfare of being unemployed increases.8. An increase in the unemployment benefit increases the welfare of being unemployed and thereforeincreases the reservation wage.9. An increase in the tax on wage income decreases the welfare of being employed and thereforeincreases the reservation wage.10. An increase in the unemployment insurance benefit raises the reservation rate. Therefore, theunemployed require more time to find an acceptable wageoffer, and the equilibrium unemployment rate increases.11. An increase in the job offer rate, holding the reservation wage constant, reduces the amount of time ittakes to find an acceptable job offer. This effect tends to lower the equilibrium unemployment rate.An increase in the job offer rate also increases the reservation wage. This effect tends to increase the equilibrium unemployment rate. The net effect on the unemployment rate is therefore uncertain.An active government role in helping the unemployed to find job offers is likely to increase the job offer rate.12. What matters to the unemployed is the value of the unemployment insurance benefit, net of taxes. Anincrease in taxes on unemployment insurance benefits acts in the same way as a decrease in the gross benefits.13. A higher real wage rate increases the likelihood that more able workers will accept job offers. Ifemployers cannot precisely measure the level of ability, a higher real wage rate increases the average ability level of employees working for the firm. This effect is due to adverse selection.A higher real wage rate increases the potential costs of an employee losing his or her job.If it is costly for firms to monitor the level of effort expended by its workers, a higher real wage reduces the incentives for workers to shirk. This effect is due to moral hazard.14. When the efficiency wage exceeds the market-clearing wage, there will be involuntaryunemployment in the efficiency wage model.15. An increase in government spending increases the realinterest rate, but has no effect on the levels ofoutput and employment.Chapter 16 Unemployment: Search and Efficiency Wages 155 16. An increase in total factor productivity decreases the real interest rate, and increases output andemployment. The increase in total factor productivity does not affect the real wage, unless the change in technology also affects the costs of monitoring workers’ performance.17. The efficiency wage model can account for procyclical employment, consumption, and investment.The efficiency wage model can account for countercyclical unemployment. The efficiency wage model cannot account for the procyclical behavior of the real wage rate.Problems1. An increase in the separation rate lowers the welfare from being employed, and therefore increasesthe efficiency wage. The higher reservation wage shifts the * UpH w curve to the right. The direct()effect of the increase in s shifts the (1)curve to the right. Unemployment therefore increases.s U2. An increase in the average wage paid, holding the reservation wage constant, increases the probabilityof finding an acceptable job offer. However, as long as job searchers are aware of the increase in wage rates, the reservation wage will also increase, because higher wages increase the welfare from being employed. On net, it is likely that at first approximation *H w will be unaffected, and so()there will be no change in the unemployment rate.3. The introduction of unemployment insurance benefits increases the welfare from being unemployedand increases the reservation wage. This effect increases the equilibrium rate of unemployment. If the insurance is paid for from a tax on wage income, then after-tax wages decrease. However, the reduction in the wage rate will likely result in an equal reduction in the reservation wage, so that *H w will be unaffected. Therefore, unemployment increases.()4. There are two channels through which more stringent qualification for unemployment insurancemay operate. For those currently employed, possible difficulties in qualifying would decrease the separation rate. Workers would be more reluctant to quit if they may not qualify for benefits and workers might perform better on the job reducing the incidence of firing. The unemployed who are covered by insurance would be unaffected. However, the pool of the unemployed would now include more potential workers not receiving benefits and these individuals are likely to have lower reservation wages. The average reservation wage would decrease and the long-run unemployment rate would decrease.5. Increased difficulty in distinguishing ability levels is much like an increased difficulty in monitoringworker effort. The effort function therefore shifts down and to the right. The efficiency wagetherefore increases.However, a careful modeling of the adverse selection problem is more complicated than the modeling of the moralhazard problem. If a firm believes that it has some ability to distinguish between high- and low-ability workers, then it is likely to offer different wages to those believed to be of high rather than low ability. In a more complicated model of such a segmented market, it is likely that an increase in the difficulty of distinguishing between workers will lead to an increase in the wages of low-ability workers and a decrease in wages of high-ability workers.156 Williamson ? Macroeconomics, Third Edition6. The destruction of capital is much like a decrease in total factor productivity. The labor demand curveshifts to the left. As long as there is no change in the ability to monitor, there will be no change in the efficiency wage. Output and employment decrease, unemployment increases, and the real interest rate increases.7. The efficiency wage model is a model that predicts real wage rigidity, not nominal wage rigidity. Anincrease in the money supply leads to an equiproportional increase in nominal wages and prices.Money is therefore neutral.8. According to the permanent income hypothesis, a permanent increase in government spending is likely to lead to an equal-sized decrease in consumption spending. The output demand curve therefore does not shift. The wealth effect of the increase in government spending increases labor supply. However, in the efficiency wage model output and employment are determined by labor demand. Therefore, the output supply curve also does not shift. Output, employment, the real wage, investment, and the real interest rate are all unchanged. The only effects of the permanent increase ingovernment spending are a decrease in consumption and an increase in unemployment. There is no crowding out of investment spending. Instead, there is a one-for-one crowding out of consumption spending.。
C15-19
总需求AD2（投资为I2时）
总需求AD1（投资为I1时） 总需求AD0（投资为I0）
总产出(Y)
利率（r） r0 r1 r2 总产出(Y) 图15-2 IS曲线 Y0 Y1 Y2
二、货币市场均衡——LM曲线
货币供给MS：假定为常量，或外生变量 货币需求MD ：按凯恩斯的观点，有三种货币需求组成。 根据凯恩斯学派的观点，货币需求是收入和利率的函数。 货币市场均衡：MS＝MD 可以导出货币市场均衡时，收 入与利率的关系式，即为LM方程或LM曲线。 LM曲线的推导：建图15-3，其中图（A）表示了货币的供 给和需求。当收入为Y1时，货币供给和货币需求在利率为 r2时正好相等。但是，当收入上升到Y2时，货币需求超过 了货币供给，利率被迫上升至r1，使货币供给和货币需求 再次相等。这样，如图15-3中的图（B）所示，在货币市 场上，每一种收入水平都是和特定的利率相联系的。
利率(i) r0 r1 r2
图15-1 利率变动如何影响产出
投资的边际收益
I0
利率(i)
I1
I2
投资(I)
总需求Yad） Yad=Y
(B)凯恩斯450线图
总需求（投资为I2时）
（A）投资的边际效率
总需求（投资为I1时）
总需求（投资为I0）
450
总产出(Y)
Y0
Y1
Y2
图15-2 IS曲线
总需求（Yad）
三、总供给与总需求均衡的分析
短期均衡与长期均衡：
（一）短期均衡
P
图15-12表示总产出的需求 量等于其供给量的短期均 衡（在短期里，生产商品 和劳务的许多要素的成本 固定不变），即需求曲线 (AD)和总供应曲线(AS)相 交的点E。总产出量的均 衡水平为Y*，价格的均衡 水平为P*。
威廉森《宏观经济学》(第3版)配套题库 】第15章 货币、通货膨胀和银行【圣才出品】
第15章货币、通货膨胀和银行一、复习题1．从历史上看，货币有哪五种形式？答：货币的五种形式是商品货币、流通的私人银行钞票、商品担保纸币、不兑现纸币（法定货币）和私人银行的交易存款。
（1）商品货币这是最早的货币，在古希腊文明和古罗马文明或更早年代里普遍使用，通常是贵金属，如黄金、白银或铜。
实践中，商品货币制度是由政府开办铸币厂，用贵金属制造硬币，然后将此作为货币来流通。
（2）流通的私人银行钞票在美国的自由银行时期和较早时期，经州政府特许成立的银行可以发行到手交换的流通票据，与今天的通货非常相似。
（3）商品担保纸币在这种货币制度中，虽然纸币由政府发行，但这种货币需由某种商品作担保，例如金本位制下的纸币。
（4）不兑现纸币不兑现纸币可以被视为大多数现代经济所实行的货币制度中的一种货币形式。
在美国，不兑现纸币是美联储发行的联邦储备券（即美钞）的存量。
不兑现纸币由实质上毫无价值的纸币构成。
（5）私人银行的交易存款有了可使用支票的或能够与借记卡结合使用的银行存款，消费者无须使用不兑现纸币就能从事购买活动。
2．雅浦岛石头和新法兰西纸牌币有什么共同点？这两种货币形式的区别是什么？答：（1）共同点：雅浦岛石头和新法兰西纸牌币都是商品担保纸币。
（2）区别：纸牌币的商品担保是不确定的，而雅浦岛石头是被生活在雅浦岛的每一个人所知晓的，石头是货币的担保，而货币不是有形物。
3．双方需要一致的缺失是如何使得货币对社会有用的？答：双方需要一致的缺失意味着交易者无法找到一个想要和他进行互补的物物交换交易伙伴。
在这样的物物交换经济中，交易者必须首先把他们的商品换成那些能提供自己想购买的物品的交易者所需要的东西，其后的第二次物物交换提供了他们想要购买的东西。
如果交易主体能够共同接受一个能够用于所有交易的交易媒介，那么交易过程将极大的简化。
4．在货币跨期模型中，货币供给增长率的提高有什么影响？答：货币供给增长率x提高对产出、实际利率、就业和实际工资的影响：闲暇增加以及消费减少会导致劳动供给曲线左移、产出供给曲线左移和产出需求曲线左移。
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9
Equation 15.1
Assume that the central bank causes the money supply to grow at a constant rate.
.
10
Equation 15.2
In equilibrium, money supply equals money demand.
.
14
Equation 15.6
Marginal condition reflecting the consumer’s tradeoff between current leisure and future consumption:
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15
Equation 15.7
Marginal condition reflecting the consumer’s tradeoff between current leisure and current consumption:
.
5
Figure 15.2 Good 1 as a Commodity Money in the Absence-of-DoubleCoincidence Economy
.
6
Figure 15.3 Fiat Money in the Absenceof-Double-Coincidence Economy
.
3
The Double-Coincidence Problem and the Role of Moneficult in highly-developed, specialized economies.
• Economic exchange requires search costs, and these costs are high when economic agents are specialized in consumption and production, and can only trade a good or service for another good or service.
• An increase in the money growth rate increases the inflation rate and the nominal interest rate, and reduces employment and output.
.
8
Figure 15.4 Scatterplot of the Inflation Rate vs. the Growth Rate in M0 for the United States, 1960–2006
.
16
Figure 15.5 The Long-Run Effects of an Increase in the Money Growth Rate
.
17
The Friedman Rule
• Inflation causes an inefficiency, in that it distorts intertemporal decisions.
• Search costs are reduced dramatically if everyone accepts money in exchange for goods and services.
.
4
Figure 15.1 An Absence-of-DoubleCoincidence Economy
Chapter 15
Money, Inflation and Banking
Copyright © 2008 Pearson Addison-Wesley. All rights reserved.
Chapter 15 Topics
• Alternative forms of money. • Money and the absence of double coincidence of
wants. • The causes and effects of long-run inflation. • Financial intermediation and banking.
.
2
Alternative Forms of Money
• Commodity money • Circulating private bank notes • Commodity-backed paper currency • Fiat money • Transactions deposits at banks
.
11
Equation 15.3
Money supply also equals money demand in the future period.
.
12
Equation 15.4
Combine the previous two equations.
.
13
Equation 15.5
The consumer’s intertemporal marginal condition.
.
7
The Effects of Long-Run Inflation
• Use the monetary intertemporal model from Chapter 10.
• Show that money is not superneutral – higher money growth causes higher inflation, which affects real economic variables.
• The Friedman rule is a prescription for monetary growth that eliminates the inefficiency caused by inflation.
• The Friedman rule specifies that the money stock grow at a rate that makes the nominal interest rate zero.