{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

����第�章&

å�½é��é��è��第ä¸�ç« & -...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: credit(+), : debit(-) BOP includesr 1.The current account: merchandize tangible goodsr imports and exportsr balance of trade¸ r È service r intangible goodsr e unilateral transfer of foreign aidr grants, gifts, etcr À factor income(like dividends and interest payments from abroad , wages and salaries ) 2.the capital and financial account = foreign direct investment(FDI) + portfolio investments P other investments 3.statistical discrepancy M· r U È ª current account + capital and financial account = official reserves ç° @[email protected] E [email protected] y SE Z Sp _ Ž ƒ D DW 4.the official reserves account r 1r official gold reserves r 2r foreign exchange reservesr foreign currencies and foreign currency dominated bondsr r 3r IMF special drawing rightsr SDRsrM· +¥t û P ª ª IMF X ª r 4r other foreign assets rr BCA=balance on current account BKA=balance on capital account BRA=balance on the reserves account BCA + BKA + BRA=0 E Mз u b • 4ª D BKA + BCA = 0 E S @ e D Y u @ r 826.9+r 811.3r +r 18r =r 2.4r reserves account r r 18r ª· r U ¨ § ª·rU¨ CreditED pà4ïDDEPK E S ª·M § r debit«4= ME· D Ð á ª M.4 ¨ 2rU ª· 2.4 r M .4¨ ª 2r U · 826.9+r 811.3r Sr D › …… K ( ³ …… exchange rate. Autonomous [email protected] (M · « å ³ « ª… Accommodation transactions H Mª… · « å r 1¨ U —ª M E E E D S4 D4 4 DàP DE pK §ï ª·M r 2h X —ª M E E DE S4Dà P D ª·M 4EpK §ï D r 1r r @ [email protected] S F S W _ Ž ƒ [email protected] Z ª · 2rU ¨ r M·4ª@ K§ E E ª ª D D Ð6 iK ÌI§TZS ª M ED M · 3rU ¨ ªr M·4ª@ K§ E E ª ª D D Ð8 iK ÌI§TZS ª SSDpEZ[ðDE`44ÿ_ Ž ƒ E DW § § (Expenditure-changing Policies) (Expenditure-switching Policies) S [email protected] ED 4 r r M· r X h ª M· r X h ª M4 ¹ 4ˆ ª E D· Ð Ý r r r r r M · r Yh ª X r r r r M · r Ch ª X X-Mr Y r M · ª · ¨ +t A P M¸ û ª M · r Yh ª X r r r M4 « Ih ª E D· Ð â X-Mr r Y=C+I+r X-Mr M rA h ª ·r X C+IrMr B h ª· X Y=A+B Y-ª · A+t =BP M ª· ¨ ¸ û M M · 4« æ ª E ÐD M ED [email protected] ED 5+ Ur·ª 6xUr·ª 7ˆXr·ª 8 MM·ª ¨ t ¸ û P ª · ª+ — —à ~ (Marshall-Lerner condition) Em + E x > 1 Emày« Exày« 9r J r 4Ð[email protected] + TZ ÌI 8 §ª·M K ...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern