거시경제학1 기말정리

목차

1. [ISLM Model 1 : IS]
2. [ISLM Model 2 : LM]
3. [ISLM Model 3 : ISLM]
4. [ISLM Model with Policy Effect]
5. [ADAS Model 1 : deriving AS with WS and PS]
6. [ADAS Model 2 : AS]
7. [ADAS Model 3 : AD]
8. [ADAS Model 4 : Policy Effect in ADAS]
9. [DAD-DAS Model 1 : DAD]
10. [DAD-DAS Model 2 : DAS]
11. [DAD-DAS Model 3 : Equilibrium]
12. [Policy Debates]

본문내용

•Active or Passive
- Active
Economies are constantly exposed to external shocks.
Recessions cause hardship to people. Need policy to quickly stablize the economy.
Policy makers are competent and know how to respond.
Passive
1. Uncertainty : What is the right timing, policy, analysis..?
2. Time lags : inside lags and outside lags cause the time difference in policy intensions and policy effects.
The economy’s condition changes between the beginning of a policy action and its impact on the economy.
통화정책은 중앙은행이 결정하면 되서 내부시차가 짧으나, 사람들은 이자율에 민감하지 않아서 효과가 나타나기 전까지 외부시차가 길다. 반대로 재정정책은 정부가 오랜 논의를 거쳐야해서 내부시차가 길지 만, 외부시차는 매우 짧다.
3. Expectations : Effects of the policy depends on people’s expectations.
Lucas Critique : Predictions of the policy effect is only valid if the policy change does not alter people’s expectations.
But due to adaptive expectations, what policy maker need is strategic interactions with people under game theory.

참고자료

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