International Trade, Exchange Rates, and Macroeconomic Policy Chapter 6 International Trade, Exchange Rates, and Macroeconomic Policy

Figure 6-1 The U.S. Current Account Balance and Its Net International Investment Position, 1975–2001 Copyright © 2003 by Pearson Education, Inc.

Figure 6-2 Foreign Exchange Rates of the Dollar Against Four Major Currencies, Quarterly, 1970–2002 Copyright © 2003 by Pearson Education, Inc.

Figure 6-3 Determination of the Price in Swiss Francs of the Dollar Copyright © 2003 by Pearson Education, Inc.

Figure 6-4 Nominal and Real Effective Exchange Rates of the Dollar, 1970–2001 Source: Federal Reserve System Board of Governors, G-10 Index, 1970-1972; Major Currencies Index, 1973-2001. Copyright © 2003 by Pearson Education, Inc.

Figure 6-5 U.S. Real Exports, Real Imports, and Real Net Exports, 1960–2001 Copyright © 2003 by Pearson Education, Inc.

Figure 6-6 U.S. Real Net Exports and the Real Exchange Rate of the Dollar, 1970–2001 Copyright © 2003 by Pearson Education, Inc.

Figure 6-7 The U.S. Real Corporate Bond Rate and the Real Exchange Rate of the Dollar, 1970–2001 Copyright © 2003 by Pearson Education, Inc.

Figure 6-8 Effect of an Increase in the Money Supply with Fixed Exchange Rates Copyright © 2003 by Pearson Education, Inc.

Figure 6-9 Effect of a Fiscal Policy Stimulus with Fixed Exchange Rates Copyright © 2003 by Pearson Education, Inc.

Figure 6-10 Effect of a Monetary and Fiscal Policy Stimulus with Flexible Exchange Rates Copyright © 2003 by Pearson Education, Inc.

Figure 6-11 The BP Line in a Small and Large Open Economy Copyright © 2003 by Pearson Education, Inc.