ECSENOMICS Chapter 30 Open-Economy Macroeconomics McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Chapter 30 Open-Economy Macroeconomics
ECSENOMICS U.S. Net Exports Turned Sharply Negative in 1980S T-221 Figure 30-1 19501955196019651970 197519801985199019952000 Year McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. T-221 Figure 30-1 U.S. Net Exports Turned Sharply Negative in 1980s
ECSENOMICS Adding Net Exports to Domestic Demand Gives Equilibrium gDP in the Open Economy T222 Figure 30-2 CIDG N deficit 30 第59 2.500 3.000 4.000 Gross domestic product (billions of dollars) McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Adding Net Exports to Domestic Demand Gives Equilibrium GDP in the Open Economy T-222 Figure 30-2
ECSENOMICS Net Exports Can Help or Hurt S Depending upon Domestic Demand T223 igure 30-3 Fi 100 =号 □100 200 口300 400 1960 1965 1970 1975 1980 1985 1990 2000 Yea McGraw-Hilllrwin Source: U.S. Department of Commerce
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Net Exports Can Help or Hurt Depending upon Domestic Demand T-223 Figure 30-3 Source: U.S. Department of Commerce
ECSENOMICS The Foreign Exchange Value of the dollar T224 Figure 30-4 High current account deficit Collapse ol Bretten Woods system Period of light money First oil shock High U.s. tnterest rates dollar Persian Gulf war 1985 190 McGraw-Hilllrwin Source: Federal Reserve System
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. The Foreign Exchange Value of the Dollar T-224 Figure 30-4 Source: Federal Reserve System