参考教程章节27 krugman wells 2009 worth chlecturekw2.pptx

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参考教程章节27 krugman wells 2009 worth chlecturekw2.pptx

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chapter:27Krugman/Wells?2009?WorthPublisherseandExpenditure

Thenatureofthemultiplier,whichshowshowinitialchangesinspendingleadtofurtherchanges.Themeaningoftheaggregateconsumptionfunction,whichshowshowdisposableeaffectsconsumerspendingHowexpectedfutureeandaggregatewealthaffectconsumerspendingThedeterminantsofinvestmentspending,andthedistinctionbetweenplannedinvestmentandunplannedinventoryinvestment

HowtheinventoryadjustmentprocessmovestheeconomytoanewequilibriumafterachangeindemandWhyinvestmentspendingisconsideredaleadingindicatorofthefuturestateoftheeconomy

TheMultiplier:AnInformalIntroductionThemarginalpropensitytoconsume,orMPC,istheincreaseinconsumerspendingwhendisposableerisesby$1.Themarginalpropensitytosave,orMPS,istheincreaseinhouseholdsavingswhendisposableerisesby$1.

TheMultiplier:AnInformalIntroductionIncreaseininvestmentspending=$100billion+Second-roundincreaseinconsumerspending=MPC×$100billion+Third-roundincreaseinconsumerspending=MPC2×$100billion+Fourth-roundincreaseinconsumerspending=MPC3×$100billion????????????TotalincreaseinrealGDP=(1+MPC+MPC2+MPC3+...)×$100billion

TheMultiplier:AnInformalIntroductionSothe$100billionincreaseininvestmentspendingsetsoffachainreactionintheeconomy.Thenetresultofthischainreactionisthata$100billionincreaseininvestmentspendingleadstoachangeinrealGDPthatisamultipleofthesizeofthatinitialchangeinspending.Howlargeisthismultiple?

TheMultiplier:NumericalExampleRoundsofIncreasesofRealGDPWhenMPC=0.6

TheMultiplier:NumericalExampleIntheend,realGDPrisesby$250billionasaconsequenceoftheinitial$100billionriseininvestmentspending:1/(1?0.6)×$100billion=2.5×$100billion=$250billion

TheMultiplier:AnInformalIntroductionAnautonomouschan