宏观经济学第七版答案曼昆

Treating the United States as a small open economy, we once again shift the curve to the right as national saving increases. The real interest rate, however,remains fixed at r *. Consequently, investment does not change, but increases.As the S – I curve shifts right below, the U.S. real exchange rate falls and net

exports rise.

Graph for Problem 11(e)

r * = 2.5%

(S – I )1(S – I )2NX

S – I, NX

–+0ε2

ε1

ε