假設世界有兩大國,本國與外國。原先皆處於貿易平衡。今若外國發生技術進步,
而使其當前的產出及預期的邊際資本(expected marginal product of capital)皆上
升。試用相關的投資與儲蓄曲線,圖解分析此事件對本國的投資、全國儲蓄、經
常帳部位、以及世界利率的影響效應。 (20%)
簡答下列問題: (10%)
(1) 為何美國的次級房貸危機會引發成全球金融風暴?
(2) 為何全球金融風暴會造成相關國家的實質經濟出現大衰退?
(3) 受到衝擊的國家大多採用什麼樣的總體經濟政策以試圖走出經濟衰退?
Milton Friedman is the noble prize laureate in 1976. He argues that the stabilization
policies would not work and the active monetary policy would worsen business cycle.
In other words, an economy functions best when without any government intervention.
Based on the above statement, please indicate whether Friedman is best known for
supporting or against Keynesian view. (10%)
One common feature of the Japanese slump of the 1990s and the Great Depression of
the 1930s is a fall in economic activity coincides with interest rate close to zero. (With
a maximum of 100 words each). (15%)
(1) Some economists describe the situation as liquidity trap. Based on the IS-LM
model, please explain why expansionary monetary policy may not work to
stimulate investment spending under this situation. (5%)
(2) However, other economists suggest that expansionary monetary policy may work
to stimulate investment spending. Based on the closed economy model, please
indicate the circumstance under which it may work. (5%)
(3) Now think about the open-economy version of the model. For a small open
economy under floating exchange rate regime, what is the additional channel that
the expansionary monetary policy may influence income? (5%)
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