文档介绍：【PPT精品课件】货币金融学7版英文课件--ch25-大学课
Summary: Factors that Shift AD
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© 2005 Pearson Education Canada Inc.
Effect of S【PPT精品课件】货币金融学7版英文课件--ch25-大学课
Summary: Factors that Shift AD
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© 2005 Pearson Education Canada Inc.
Effect of Shift in AD on Y
1. AD shifts right: Y P to point 1'
2. Y > Yn: wages , AS shifts in until reach point 2, where Y = Yn
Conclusion: AD shifts right, Y in short run only; in long run only P
© 2005 Pearson Education Canada Inc.
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Summary: Factors that Shift AS
© 2005 Pearson Education Canada Inc.
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Effect of Shift in AS on Y
1. Negative supply shock: AS shifts in, Y P to point 2
2. Y < Yn: wages , AS shifts out until return to point 1
Conclusion: AS shifts in, Y P in short run, but in long run Y and P are unchanged
© 2005 Pearson Education Canada Inc.
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Shifts in Long-Run Supply
Yn grows over time, but is shown as fixed in AD/AS diagram
Real Business Cycle Theory
1. Yn fluctuates a lot due to aggregate supply (real) shocks
2. Shifts in AD small
3. Conclusion: Business cycles due to real shocks
4. Supports nonactivism
Hysteresis
1. AD shifts in, natural rate of unemployment , Yn shifts in
2. Unemployment stays high
3. Supports activism
© 2005 Pearson Education Canada Inc.
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Vietnam War Buildup and Macroeconomic Activity in the United States: 1964–70
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Negative Supply Shocks and Macroeconomic Activity in Canada: 1973–75 and 1978–80
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© 2005 Pearson Education Canada Inc.
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