Chapter 13 Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy.

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Presentation transcript:

Chapter 13 Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy

Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Box 13.1 McParity Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.1 The J curve Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.2 The U.S. real exchange rate and net exports, 1973–2003 Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.3 The supply of and demand for the dollar Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.4 The effect of increased export quality on the value of the dollar Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.5 Goods market equilibrium in an open economy Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.6 Derivation of the IS curve in an open economy Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.7 Effect of an increase in government purchases on the open-economy IS curve Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.8 Effect of an increase in net exports on the open-economy IS curve Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.9 Effects of an increase in domestic government purchases Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.9 Effects of an increase in domestic government purchases (cont’d) Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.10 Effects of a decrease in the domestic money supply Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.10 Effects of a decrease in the domestic money supply (cont’d) Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.11 An overvalued exchange rate Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.12 A speculative run on an overvalued currency Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.13 An undervalued exchange rate Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.14 Determination of the money supply under fixed exchange rates Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.15 Coordinated monetary expansion Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

Figure 13.16 Dollars per euro Copyright © 2005 Pearson Addison-Wesley. All rights reserved.

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