宏观经济学课件(英文版)2.ppt

宏观经济学课件(英文版)2.ppt

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nChapter2nNational-IncomeAccounting:

GrossDomesticProductandthePriceLevel1NominalandRealGDPnNominalGDPmeasuresthedollar（oreuro,etc.）valueofallthegoodsandservicesthataneconomyproducesduringaspecifiedperiod,suchasayear.nThenominalGDPisaflowconcept.2NominalandRealGDPnFormostgoodsandservicespencils,automobiles,haircuts,andsoonthedollarvalueisdeterminedbythepriceatwhichtheseitemssellinthemarketplace.nSomegoodsandservices,notablythoseproducedbygovernments,arenotexchangedonmarkets.TheseitemsenterintonominalGDPattheirnominal（dollar）costofproduction.3NominalandRealGDPnAnotherimportantitem,owner-occupiedhousing,entersintoGDPinaccordancewithanestimateofwhatthishousingwouldfetchonthemarketiftheownerrentedthepropertytoanotherperson.nImputedrentalincome4NominalandRealGDPnGDPincludesthevalueofthegoodsandservicesproducedduringaspecifiedtimeinterval,suchasayear.nThatis,GDPmeasurescurrentproduction.5NominalandRealGDPnThenominalGDPcanbemisleadingbecauseitdependsontheoveralllevelofprices,aswellasonthephysicalquantityofoutput.6NominalandRealGDP7CalculatingRealGDPnThemostcommonwaytocomputerealGDPwastomultiplyeachyearsquantityofoutputofeachgoodbythepriceofthegoodinabaseyear,suchas2000.nThenallofthesemultipleswereaddedtogettheeconomysaggregaterealGDP.8CalculatingRealGDPnTheresultingaggregateiscalledGDPin2000dollars（if2000isthebaseyear）.Or,sometimes,theresultiscalledGDPinconstantdollars.nThenominalGDPissometimescalledGDPincurrentdollars9CalculatingRealGDPnAshortcomingofthisapproachisthatitweightstheoutputsofthevariousgoodsbytheirpricesinthebaseyear（2000）.nTheseweightsbecomelessrelevantovertimeasrelativepricesofgoodschange.10CalculatingRealGDPnChainweightedrealGDP11CalculatingRealGDP12CalculatingRealGDPnImplicitpricelevelthatweareusingtoconvertadollarvaluen（nominalGDP）/（implicitpricelevel）=realGDP.nimplicitpricelevel=（nominalGDP）/（realGDP）.13CalculatingRealGDPnFor2006incaseainTable2.1,wehavenimplicitpricelevel=（550/468.5）=1.17.nFor2006incaseb,wehavenimplicitpricelevel=（550/639.0）=0.86.14CalculatingRealGDPnThinkofapriceindexthattakesonthevalue100forthebaseyear,whichis2005inourexample.nWhencomparedtothisbase,thepricelevelfor2006incaseais1.17*100=117,whereasthatincasebis0.86*100=86.nTheusualnameforthesepriceindexesistheimplicitGDPdeflator（ona2005base）.15RealGDPasaMeasureofWelfarenTheaggregaterealGDPdoesnotconsiderchangesinthedistributionofincome.nThecalculatedrealGDPexcludesmostnon-marketgoods.nRealGDPassignsnovaluetoleisuretime.nMeasuredrealGDPdoesnotconsiderchangesinairandwaterquality,thatis,pollution.16AlternativeViewsofGDPExpenditure,Income,andProductionn1.Expendituresondomesticallyproducedgoodsandservicesbyvariousgroupshouseholds,businesses,government,andforeigners.n2.Incomesearneddomesticallyintheproductionofgoodsandservicescompensationofemployees,rentalincome,corporateprofits,andsoon.17AlternativeViewsofGDPExpenditure,Income,andProductionn3.Domesticproductionofgoodsandservicesbyvariousindustriesagriculture,manufacturing,wholesaleandretailtrade,andsoon.nAllthreeapproacheswillendupwiththesametotalsfornominalandrealGDP.18MeasuringGDPbyExpendituren1.Households,n2.Businesses,n3.Alllevelsofgovernment,n4.Foreigners.19MeasuringGDPbyExpenditure20MeasuringGDPbyExpenditurenAclosedeconomy,whichhasnotradelinkagestotherestoftheworld.nAnopeneconomyislinkedthroughtradetotherestoftheworld.21MeasuringGDPbyExpenditurenSomereasonsforusingaclosedeconomymodel:

nItsimplifiestheanalysis.nAtleastfortheUnitedStates,exportsandimportshavebeensmallcomparedtoGDP,sothatlittleerrorarisesfromignoringinternationaltrade.nTheworldasawholereallyisaclosedeconomy,sowehavetocarryoutaclosed-economyanalysistoassesstheworldeconomy.22MeasuringGDPbyIncomenNationalincome.nAsimpleclosedeconomythathasonlyntwobusinesses.nOne,amill,usesonlylabortoproduceflour.nThesecond,abakery,usesflourandlabortoproducebread.nBreadistheonlyfinalproduct.Flouristheonlyintermediateproductitisusedupentirelyintheproductionofthefinalgood,bread.23MeasuringGDPbyIncome24MeasuringGDPbyIncome25MeasuringGDPbyIncomenInpractice,divergencesbetweenGDPandnationalincomereflecttwomainitems:

incomereceiptsandpaymentsinvolvingtherestoftheworldanddepreciationofcapitalstocks.26MeasuringGDPbyIncomenOnesourceofdivergencebetweenGDPandnationalincomeisthatresidentsoftheUnitedStatesreceiveincomefromtherestoftheworld.nThemainitemistheincomeoncapi