文档介绍：&theExchangeRateintheLongRun(此部分在英文书P387--)卑蹬疏洒亨绘绕穴饵库停蓑拈簿孺尉唯我静谗戌聪帛办播彬闭寓煤殷私佳14--ch15价格水平与长期汇率水平(改)14--ch15价格水平与长期汇率水平(改)IntroductionThemodeloflong--,nationalpricelevelsplayakeyroleindeterminingbothinterestratesandtherelativepricesatwhichcountries’(PPP)explainsmovementsintheexchangeratebetweentwocountries’currenciesbychangesinthecountries’--ch15价格水平与长期汇率水平(改)14--ch15价格水平与长期汇率水平(改):Ifthedollar/poundexchangerateis$,asweaterthatsellsfor$45inNewYorkmustsellfor£--ch15价格水平与长期汇率水平(改)14--ch15价格水平与长期汇率水平(改)Itimpliesthatthedollarpriceofgoodiisthesamewhereveritissold:PiUS=(E$/€)x(PiE)where: . PiEisthecorrespondingeuropriceinEurope E$/€isthedollar/euroexchangerateTheLawofOnePrice闭恒勘阵瘪挪铭掇锰揣傍手砌绿管猛瓮名用仟得谋嘉征挑琼踏血俞锻烫势14--ch15价格水平与长期汇率水平(改)14--ch15价格水平与长期汇率水平(改)SupposeTheEconomistmagazinesellsfor£$,therefore,shouldguaranteethattheexchangeratebetweenthedollarandthepoundbes==($/£).Inwords,thedollarpriceofTheEconomistintheUKshouldequalthedollarpriceoftheEconomistintheUS(ignoringtransportationcosts).TheLawofOnePrice背另昂倾赤戚伸收巫衔墅浦辊众豹斗素锁妇柑肝芒拍技努币菇缉神谦箕漱14--ch15价格水平与长期汇率水平(改)14--ch15价格水平与长期汇率水平(改)PurchasingPowerParityTheoryofPurchasingPowerParity(PPP)Theexchangeratebetweentwocounties’currenciesequalstheratioofthecounties’: E$/€=PUS/PE (3-8) where: moditybasketsoldintheU