【ppt精品課件】貨幣金融學(xué)7版英文課件--ch28-大學(xué)課(編輯修改稿)
2025-01-21 13:30 本頁面
【文章內(nèi)容簡介】 Implications: 1. Unanticipated policy has larger effect on Y than anticipated policy 2. Policy ineffectiveness does not hold: Anticipated policy does affect Y 3. Does not rule out beneficial effect from activist policy 4. However, effects of policy are affected by expectations: designing policy is tough 169。 2023 Pearson Education Canada Inc. 6 Response to Expansionary Policy in New Keynesian Model 1. M ?, AD shifts out to AD2 2. Panel (a): M ? unanticipated, AS stays at AS1。 go to U, Y ? P ? 3. Panel (b): M ? anticipated, AS shifts to ASA (not all the way to AS2)。 go to A, Y ? by less than in panel (a), P ? by more 7 169。 2023 Pearson Education Canada Inc. Summary: The Three Models 169。 2023 Pearson Education Canada Inc. 8 Response to Expansionary Policy in the Three Models 9 169。 2023 Pearson Education Canada Inc. Analysis of Figure 285: Response to Expansionary Policy in the Three Models M ?, AD shifts out to AD2 Traditional Model (a) 1. AS stays at AS1 wheth
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