(1) What is the Fisher effect? (3%)
(2) During the Great Depression, the U.S. economy experienced many bank failures, to
the point where people became unwilling to keep their money in banks, preferring
to keep it in cash. How would you expect such a shift away from checkable deposits
toward currency to affect the size of the money multiplier? Explain. (5%)
(3) Explain the differences in the effects of expansionary monetary policies on the
economy between the classical and Keynesian models. (10%)
(4) In Japan in the 1990s and the United States in the 1930s, interest rates reached very
low levels. U.S. interest rates were well under 1 percent throughout the second half
of the 1930s. The same was true in Japan during the second half of the 1990s. In
1999, Japanese short-term interest rates fell to about one-tenth of 1 percent. As a
result, monetary policies may no longer be effective. Discuss the effects of
monetary and fiscal policies in the circumstance with diagrams. (12%)
(1) Perfect capital mobility in international financial markets implies that the uncovered
interest parity condition should hold. Explain. (8%)
(2) What are the differences between the effects of expansionary fiscal policies under
fixed and floating exchange rates? Explain carefully. (12%)
為何政府的政策會產生時間不一致性(time inconsistency)現象?試舉例說明之。如
果人們了解政策的時間不一致性並納入預期以為其行為決策,則會有何效果?又
應如何解決政府政策的時間不一致問題。(15%)
何謂雙重赤字(twin-deficit)?產生的原因為何?如何解決?試繪圖說明之。另舉現
實一國為例說明其現況及產生原因,並試和理論相應證是否符合。(15%)
在成長理論中何謂絕對收斂(absolute convergence)?何謂條件收斂(conditional
convergence)?Solow 成長模型可否解釋各國間為何有不同經濟成長率?若有,其
造成的主要原因為何?若無,如何改善其理論模型才能更合理解釋?(20%)
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