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Chapter 15

1929
1936
(The General Theory of Employment, Interest and Money)

1930 1960

()

15.1 (aggregate expenditure, AE)

AE= C+I +G +X-M



1.
2.

3.
4.

15.2

1.
2.
3.

15.3

AE = C + I ()
=+

15-1
1.

Ca > 0

Yd

c MPC(marginal propensity to consume) 0 < c < 1

2.
S

1-c MPS (marginal propensity to save)

APC

APS

MPC

MPS

0 <MPC < 1

: C=25+0.75Yd , I=50
(1)(2)(3) MPCMPSAPCAPS

15-2
S=-25+0.25Yd
Yd=300

3.
.
Y C=100+0.8Y I C+I ED
0 800 740 100 840 40
1 840 772 100 872 32
2 872 797.6 100 897.6 25.6

1,000 900 100 1000 0

AE= C + I
C= a +bYd
I= I0

4.
AE =C+I ()
=Y ()
Y =C+I

Y =100+0.8Y+100
(1-0.8)Y=100+100 0.2Y=200 Y*=1000

15-3

Y =C+I ()
=Ca+cY+I0 0 < c < 1
(1-c)Y =Ca+I0

Y*

5.
Y =C+I ()
=Ca+cY+I0 0 < c < 1
(1-c)Y =Ca+I0

Y*

c=0.8

15-4
15.4

1. Y= C + I + G
C Ttax
I
G
T ()
() t
t
t


Y =C+I+G

Y*

Y*

15.5

1.

2.

t=0

15-5
. C=0.8

3.

4.
(1)
Y

(2)
Y

15-6

: C =25+0.75Yd I=50, G=40, T=20


(1)(2) 100 ? (3) 100
? (4)(2)(3) 1
(1) Y*
Y =C+I+G
=25+0.75(Y-20)+50+40
=25+0.75Y-15+50+40
0.25Y =100
Y* =400
(2) G 100 Y
Y =C+I+G
=25+0.75(Y-20)+50+140
=25+0.75Y-15+50+140
0.25Y =200
Y* =800
(3) T 100 Y
a.

b.

(4)

G T 1 0 0 Y 100

15-7
(fiscal policy)

(1)
(2) ( G)
(3) ()

1 1
8,000 8,000 6,400
MPC=0.8

t=0.1
1 1,000 720

9,000 7,200 6,480 5,184


2.

3. Built-in stabilizer

15-8
(1)

<

(2)
Y Yd Y
( Y Yd C Y)

15.6

Y
X
M
m MPM (marginal propensity to import)

1.
AE

Y
C
I
G
T
X
M
Y

2.

: P.403 123
A

15-9




15.7


3,660
5,000

3,660
2400

Deflationary gap

Inflation gap

15-10
1: C=175+0.75Yd , I=300, G=60, T=100, X=160, M=20+0.05Y
(1) Y*
Y

(2) Yf=2,300
=90

2: C=25+0.75Yd , I=50, G=40, T=20


(1) 300??
?
AE

15-11
Yf=300

25

(2) 500??
?
Yf=500

25

1.

2.

15-12
3.

2: C=175+0.75Yd , I=300, G=60, T=100, X=160, M=20+0.05Y



Y

X-M

AE

1.

15-13

2.

80
3.

Y
Y

0.3Y

5/14
AE
C
I
G
T
X
Y
AE

15-14
15.8 (Paradox of thrift)

1. :
( 1)( 2)


Y

Y ()
Y ()
C
S

2.
(1) I=I0
I Y(Y*Y) , S (S=I , I0I0)

(2) I=I(Y)
I Y
Y(Y*Y) , S(S*S)

15-15
15-16