Chapters 18/19/20/21 Summary of Olivier's Blanchard's book Macroeconomics, Schemi e mappe concettuali di Macroeconomia

Scarica Chapters 18/19/20/21 Summary of Olivier's Blanchard's book Macroeconomics e più Schemi e mappe concettuali in PDF di Macroeconomia solo su Docsity! Scanned with CamScanner  Scanned with CamScanner  Scanned with CamScanner x uz Figure 19-1 The Demand for Domestic Goods and Net Exports Panel (a): The domestic demand g00ds is an increasing fune- tion of income (output). | Panels (b) and (c): The demand for domestic goods is obtained | by subiracting the value of im- | ports from domestic demand | and then adding exports. | Panel (d): The trade balance is a | |_decreasing function of output. | À A PI er DD AA (b) Output DD -“ 27 AA N w E a E à ei re Scanned with CamScanner um Figure 19-2 Equilibrium Output and Net Exports The goods market is in equilib- rium when domestic output is equal to the demand for domes- tic goods. At the equilibrium level of output, the trade bal- ance may show a deficit or a surplus. Demand, Z Y Output, Y Scanned with CamScanner  Scanned with CamScanner nl _|the | | o | 1 sv red speri vi niT) " EL. n | | | | Fhodli at [che Nuati he | economy 38 | | [ata Lella ta la Lel LE LI ai hu (ÎKe Fhe dasweri Net vert |mc [ JJ Scanned with CamScanner  Scanned with CamScanner  Scanned with CamScanner  Scanned with CamScanner | Xi Figure 21-1 % ‘Demand and è erme a ie Open Economy Under | FixedExchange Rates H An increase in the price level 2 leadstoareal appreciation and “ai | a decrease in output: The aggre- Bate demond curve is ‘18 sloping. An increase in output ‘leads to an increase in the price level: The aggregate supply curve lis upward sloping. LI Pena i 3 RASH - i i e SI Scanned with CamScanner