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exchange rate (the real exchange rate(aka term of trade) (high real…
exchange rate
the real exchange rate(aka term of trade)
high real exchange rate lead to low net exports
low real exchange rate lead to high net exports
J CURVE
supply&demand
supply curve shift
demand curve shift
expansionary fiscal policy
对本国
对贸易国
fixed exchange rate (currency peg)
overvalued
speculative run
undervalue
purchasing power parity
limit
IS-LM for an open economy
S - I = NX
increase in income
increase in government purchase
increase in foreign output/foreign real interest rate all result in increasing net export
nominal exchange rate
expansionary monetary policy 货币市场