第14章如何衡量生活费用？概要.ppt

第14章 如何衡量生活费用？ 以GDP平减指数衡量的中国通胀率 例如： 存入一年期限的1000元存款 名义利率为4.5% 该年的通货膨胀率是3.5% 真实利率是  = 名义利率 – 通货膨胀率 = 4.5% – 3.5% = 1.0% 1000元存款的购买力增加了1.0% 0 3. 真实利率与名义利率 美国的真实利率和名义利率：1950-2007 0 中国的真实利率和名义利率：1978-2009 0 消费物价指数是生活费用的一种衡量指标，衡量普通消费者购买的一篮子物品与服务的费用 经济学家和决策者通常用CPI来进行生活费用调整和校正通货膨胀影响的经济变量 真实利率是经过通货膨胀校正的利率，等于名义利率减去通货膨胀率 0 本章小结 * * 苹果与橘子之间的消费替代 * * This figure shows the inflation rate – the percentage change in the level of prices – as measured by the GDP deflator and the Consumer Price Index using quarterly data from the U.S. economy. Notice that the two measures of inflation generally move together. There are a few years when they diverge a bit. The reasons for this are on the next slide. Sources: GDP deflator – Bureau of Economic Analysis, U.S. Dept of Commerce CPI – Bureau of Labor Statistics, U.S. Dept of Labor I obtained both from the Federal Reserve Bank of St. Louis “Fred” database: /fred2/ * * Note: the ratio of price levels = 211.7/31.3 = 6.76. This means that the cost of living has increased by a factor of 6.76. We multiply this factor by the 1964 figure to convert the latter into “today’s dollars.” Interpreting the result: The $1.15 minimum wage in December 1964 could have purchased $7.78 worth of goods and services if prices in 1964 equaled their December 2007 level. Source of data: Bureau of Labor Statistics, * * DISCLAIMER: The material on this slide is not supported with test bank or study guide questions. * * This graph replicates Figure 3 from this chapter. The figure is constructed using quarterly data from the U.S. The nominal interest rate is the rate on a three-month Treasury Bill. The real interest rate is the same, minus the inflation rate as measured by the percentage change in the CPI. Notice that the nominal and real interest rates often do not move together, indicating that the real interest rate varies over time. Sources: CPI – Bureau of Labor Statistics Treasury bill rate – Board of Gover