国际经济学(双语)-Chapter 1.ppt

1.7 Offer Curve and Terms of Trade Equilibrium Terms of Trade Point E is the trading equilibrium. TOTE is the market-clearing price ratio. Trading Equilibrium 思考： 为什么TOTE是市场出清的世界均衡价格？ 国II的提供曲线位于国内均衡价格PA′之下，国I的曲线位于PA之上，如果将两条曲线置于一个坐标轴内，则两国的提供曲线位于两国的国内相对商品价格（即均衡价格）之间。这就是互惠贸易的范围。 在一个坐标轴内，只要两条曲线在原点有不同的斜率，即两国国内的均衡价格不同，它们总会在某处相交，两国国内均衡价格的差异为贸易提供了基础。 PA′ PA 国I 国II Y X 0 PE ● E 1.7 Offer Curve and Terms of Trade Shifts of Offer Curves Shifts in Country I’s Offer Curve Reasons for Shifts: A change in tastes for the imported good; 对进口品需求的增减 A rise in income that leads to an increased demand for imports; 收入的提高或下降 An improvement in productivity in Country I’s export industries. 出口部门劳动生产率的提升或下降 1.7 Offer Curve and Terms of Trade When offer curves shift, the equilibrium terms of trade and volume of trade change. Increased Demand for Imports by Country I 1.7 Offer Curve and Terms of Trade Terms of Trade Estimates The relative price ratio PX/PY in the offer curve diagram is called as the commodity terms of trade, or net barter terms of trade . 出口商品价格指数与进口商品价格指数之比 The economic interpretation of the terms of trade: As the price of exports rises relative to the price of imports, each unit of a country’s exports is able to purchase a larger quantity of imports. Thus, more imports, which like any other goods bring utility to consumers, can be obtained with a given volume of exports, and the country’s welfare on the basis of those price relations alone has improved. 1.7 Offer Curve and Terms of Trade 一国的贸易条件上升，意味着： 为换取同等数量的进口商品，该国只需要出口比原来更少的商品； 或者， 出口同等数量的商品，该国能换回比原来更多的进口商品。 1.7 Offer Curve and Terms of Trade In calculating the terms of trade for any given country, a price index must therefore be calculated for exports and imports. The price index is a weighted average of the prices of many goods, calculated for comparison with a base year. The base-year price indices are then set at values of 100, and other years can be compared with them. Over a long period, terms of trad