国际经济学16.docx
- 文档编号:8989755
- 上传时间:2023-02-02
- 格式:DOCX
- 页数:61
- 大小:1.42MB
国际经济学16.docx
《国际经济学16.docx》由会员分享,可在线阅读,更多相关《国际经济学16.docx(61页珍藏版)》请在冰豆网上搜索。
国际经济学16
Preface
§1.SomedistinctivefeaturesofInternationalEconomics:
TheoryandPolicy.
Thisbookemphasizesseveralofthenewertopicsthatpreviousauthorsfailedtotreatinasystematicway:
·Assetmarketapproachtoexchangeratedetermination.
·Increasingreturnsandmarketstructure.
·Politicsandtheoryoftradepolicy.
·Internationalmacroeconomicpolicycoordination
·Thewordcapitalmarketanddevelopingcountries.
·Internationalfactormovements.
§2.Learningfeatures:
·Casestudies
·Specialboxes
·Captioneddiagrams
·Summaryandkeyterms
·Problems
·Furtherreading
§3.Referencebooks:
·[美]保罗•克鲁格曼,茅瑞斯•奥伯斯法尔德,《国际经济学》,第6版,中译本,中国人民大学出版社,2007.
·李坤望主编,《国际经济学》,第二版,高等教育出版社,2005.
·DominickSalvatore,InternationalEconomics,PrenticeHallInternational,第8版,清华大学出版社,英文版,2004.
Chapter1
Introduction
§1.Whatisinternationaleconomicsabout?
Seventhemesrecurthroughoutthestudyofinternationaleconomics:
·Thegainsfromtrade
(Nationalwelfareandincomedistribution)
·Thepatternoftrade
·Protectionism
·Thebalanceofpayments
·Exchangeratedetermination
·Internationalcapitalmarket
§2.Internationaleconomics:
tradeandmoney
·PartI(chapters2through7):
internationaltradetheory
·PartII(chapters8through11):
internationaltradepolicy
·PartIII(chapters12through17):
internationalmonetarytheory
·PartIV(chapters18through22):
internationalmonetarypolicy
Chapter2
LaborProductivityandComparativeAdvantage:
TheRicardianModel
*Countriesengageininternationaltradefortwobasicreasons:
·Comparativeadvantage:
countriesaredifferentintechnology(chapter2)orresource(chapter4).
·Economicsofscale(chapter6).
*Allmotivesareatworkintherealworldbutonlyonemotiveispresentineachtrademodel.
§1.Theconceptofcomparativeadvantage
1.Opportunitycost:
Theopportunitycostofrosesintermsofcomputersisthenumberofcomputersthatcouldhavebeenproducedwiththeresourcesusedtoproduceagivennumberofroses.
Table2-1HypotheticalChangesinProduction
MillionRosesThousandComputers
UnitedStates
-10
+100
SouthAmerica
+10
-30
Total
0
+70
2.Comparativeadvantage:
Acountryhasacomparativeadvantageinproducingagoodiftheopportunitycostofproducingthatgoodintermsofothergoodsislowerinthatcountrythanitisinothercountries.
·Denotedbyopportunitycost.
·Arelativeconcept:
relativelaborproductivityorrelativeabundance.
3.Thepatternoftrade:
Tradebetweentwocountriescanbenefitbothcountriesifeachcountryexportsthegoodsinwhichithasacomparativeadvantage.
§2.Aone-factoreconomy
1.productionpossibilities:
aLCQC+aLWQLW≤L
Figure2-1Home’sProductionPossibilityFrontier
2.Relativepriceandsupply
·Laborwillmovetothesectorwhichpayshigherwage.
·IfPC/PW>aLC/aLW(PC/aLC>PW/aLW,wageinthecheesesectorishigher),theeconomywillspecializeintheproductionofcheese.
·Inaclosedeconomy,PC/PW=aLC/aLW.
·Ifeachcountryhasabsoluteadvantageinonegoodrespectively,willthereexistcomparativeadvantage?
§3.Tradeinaone-factorworld
·Model:
2×1×2
·Assume:
aLC/aLW Homehasacomparativeadvantageincheese. Home’srelativeproductivityincheeseishigher. Home’spretraderelativepriceofcheeseislowerthanforeign. ·Theconditionunderwhichhomehasthecomparativeadvantageinvolvesallfourunitlaborrequirement,notjusttwo. 1.Determiningtherelativepriceaftertrade ·Relativepriceismoreimportantthanabsoluteprice,whenpeoplemakedecisionsonproductionandconsumption. ·Generalequilibriumanalysis: RSequalsRD.(Worldgeneralequilibrium) ·RS: a“step”withflatsectionslinkedbyaverticalsection.(L/aLC)/(L*/aLW*) Figure2-3WorldRelativeSupplyandDemand ·RD: subsititutioneffects ·Relativepriceaftertrade: betweenthetwocountries’pretradeprice. (Howwillthesizeofthetradingcountriesaffecttherelativepriceaftertrade? Whichcountry’slivingconditionimprovesmore? Isitpossiblethatacountryproducebothgoods? ) 2.Thegainsfromtrade Themutualgaincanbedemonstratedintwoalternativeways. ·Tothinkoftradeasanindirectmethodofproduction: (1/aLC)(PC/PW)>1/aLWorPC/PW>aLC/aLW ·Toexaminehowtradeaffectseachcountry’spossibilitiesofconsumption. Figure2-4TradeExpandsConsumptionPossibilities (Howwillthetermsoftradechangeinthelong-term? Arethereincomedistributioneffectswithincountries? ) 3.Anumericalexample: ·Twocrucialpoints: Whentwocountriesspecializeinproducingthegoodsinwhichtheyhaveacomparativeadvantage,bothcountriesgainfromtrade. Comparativeadvantagemustnotbeconfusedwithabsoluteadvantage;itiscomparative,notabsolute,advantagethatdetermineswhowillandshouldproduceagood. Table2-2UnitLaborRequirements CheeseWine Home aLC=1hourperpound aLW=2hourspergallon Foreign a*LC=6hoursperpound a*LW=3hourspergallon absoluteadvantage;relativeprice;specialization;thegainsfromtrade. 4.Relativewages ·Itispreciselybecausetherelativewageisbetweentherelativeproductivitiesthateachcountryendsupwithacostadvantageinonegood. ·Relativewagesdependonrelativeproductivityandrelativedemandongoods. Specialbox: Dowagesreflectproductivity? Table2-3ChangesinWagesandUnitLaborCosts CompensationCompensationAnnualRateofIncrease perHour,1975PerHour,2000inUnitLaborCosts, (US=100)(US=100)1979-2000 UnitedStates 100 100 1.1 SouthKorea 5 41 0.7 Taiwan 6 30 3.6 HongKong 12 28 NA Singapore 13 37 NA Source: BureauofLaborStatistics(foreignlaborstatisticshomepage,www.bls.gov/fls/home.htm) ·Debatesaboutrelativewagesandrelativelaborproductivity. ·Long-runconvergenceinproductivityproduceslong-runconvergenceinwages. §4.Misconceptionsaboutcomparativeadvantage Thepropositionthattradeisbeneficialisunqualified.Thatis,thereisnorequirementthatacountrybe“competitive”orthatthetradebe“fair”. 1.Productivityandcompetitiveness myth1: Freetradeisbeneficialonlyifyourcountryisstrongenoughtostanduptoforeigncompetition. ·Thegainsfromtradedependoncomparativeadvantageratherthanabsoluteadvantage. ·Thecompetitiveadvantageofanindustrydependonrelativelaborproductivityandrelativewage. ·Absoluteadvantage: neitheranecessarynorasufficientconditionforcomparativeadvantage(orforthegainsfromtrade). 2.Thepauperlaborargument myth2: Foreigncompetitionisunfairandhurtsothercountrieswhenitisbasedonlowwages. ·Whetherthelowercostofforeignexportgoodsisduetohighproductivityorlowwagesdoesnotmatter.Allthatmattertohomeisthatitismoreefficientto“produce”thosegoodsindirectlythantoproducedirectly. 3.Exploitation myth3: Tradeexploitsacountryandmakesitworseoffifitsworkersreceivemuchlowerwagethanworkersinothernations. ·Whethertheyandtheircountryareworseoff? ·Whatisthealternative? (Ifitrefusestotrade,realwageswouldbeevenlower). §5.Comparativeadvantagewithmanygoods ·Model: 2×1×n ·ForanygoodwecancalculateaLi/aLi*,labelthegoodssothatthelowerthenumber,thelowerthisratio. aL1/aL1* (oraL1*/aL1>aL2*/aL2>…>aLN*/aLN) 1.Relativewagesandspecialization ·AnygoodforwhichaLi*/aLi>w/w*willbeproducedinhome.Relativeproductivityishigherthanitsrelativewage,waLi ·Allthegoodstotheleftofthecutendupbeingproducedinhome. Table2-4HomeandForeignUnitLaborRequirements RelativeHome HomeUnitLaborForeignUnitLaborProductivety Requirement(aLi)Requirement(a*Li)Advantage(a*Li/aLi) Apples 1 10 10 Bananas 5 40 8 Caviar 3 12 4 Dates 6 12 2 Enchiladas 12 9 0.75 ·ifw/w*=3,A、B、CwillbeproducedinHomeandD、Einforeign. Issuchapatternofspecializationbeneficialtobothcountries? (Hint: Comparingthelaborcostofproducinga(import)gooddirectlyandindirectly). 2.Determiningtherelativewageinthemultigoodmodel ·w/w*: RDoflaborequalsRSoflabor. ·Therelativederiveddemandforhomelabor(L/L*)willfallwhentheratioofhometoforeignwages(w/w*)rises,because: (1)Thegoodsproducedinhomebecamerelativemoreexpensive. (2)Fewerfoodswillbeproducedinhomeandmoreinforeign. Figure2-5Determinationofrelativeofwages. RD: derivedformrelativedemandforhomeandforeigngoods. RS: determinedbyrelativesizeofhomeandforeignlaborforce(Laborcan’tmovebetweencountries). §6.Addingtransportcostsandnontradedgoods ·Therearethreemainreasonswhyspecializationintherealinternationaleconomyisnotsoextreme: (1)theexistenceofmorethanonefactorofproduction (2)protectionism (3)theexistenceoftransportcost. E.g.supposetransportcostisauniformfractionofproductioncost,say100percents.ForgoodsCandDintable2-4: D: Home6hours<12hours×1/3×2foreign C: Home3hours×2>12hours×1/3foreign Thus,CandDbecamenontradedgoods. ·Inpracticethereisawiderangeoftransportationcosts. Insomecasestransportationisvirtuallyimpossible: servicessuchashaircutandautorepair;goodswithhighweight-to-valueratio,likecement. ·Nontradedgoods: becauseofabsenceofstrongnationalcostadvantageorbecauseofhightransportationcost. ·Nationsspendalargeshareoftheirincomeonnontradedgoods. §7.EmpiricalevidenceontheRicardianmodel ·Misleadingpredictions: (1)Anextremedegreeofspecialization; (2)Neglecttheeffectsonincome
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 国际 经济学 16