威廉森《宏观经济学》(第5版)模拟试题及详解【圣才出品】

1 / 66第5章 封闭经济下的一时期宏观经济模型5.1 复习笔记一、政府1．政府行为政府希望购买一定数量的消费品G ，资金来源正是它对典型消费者的征税。

政府在提供公共物品，如国防中应发挥特殊作用。

2．政府预算约束商品在私人部门生产出来后，政府从中购买的数量为G ，剩下的由典型消费者消费，而G 属于外生变量。

外生变量由模型以外的因素决定，而内生变量则由模型本身决定。

在封闭经济模型中，假定政府支出与其他经济部门发生的事情无关，则政府支出是外生变量。

政府必须遵守政府预算约束，它表示为：G ＝T ，即政府的实际购买等于实际税收。

2 / 663．政府政策分析财政政策是指政府对其（购买性）支出、税收、转移性支出和借债的选择。

其中，政府（购买性）支出是用来购买最终商品和服务的，而转移性支出只不过是将购买力从一组人那里重新分配给另一组人。

在预算约束下，政府不能通过借债为其支出筹资，税收收入也不能高于其支出。

政府预算赤字即G －T 总为零。

二、竞争性均衡1．宏观经济模型宏观经济模型是选取外生变量（由模型以外的因素决定，用于模型要解决的问题），来确定内生变量的值，如图5-1所示。

利用模型的过程，就是进行实验以确定外生变量的变化是如何改变内生变量的过程。

图5-1 模型选取外生变量，以确定内生变量3 / 662．竞争性均衡（1）定义竞争性均衡（competitive equilibrium ）是指给定市场价格，经济中每个市场的需求都等于供给的状态。

其中，竞争性是指所有消费者和企业都是价格接受者，当所有消费者和企业的行为一致时，经济就处于均衡中。

市场出清是指所有市场的需求都等于供给。

（2）须满足的四个条件竞争性均衡是在给定外生变量G （政府支出）、z （全要素生产率）和K （资本存量）下，满足下列条件的一组内生数量——C （消费）、N s （劳动供给）、N d （劳动需求）、T （税收）、Y （总产出）以及内生实际工资w 。

1 / 205第11章 包含投资的实际跨期模型11.1 复习笔记一、典型消费者1．基本分析典型消费者在当期和未来的每一时期作出工作-闲暇决策，在当期作出消费-储蓄决策。

（1）典型消费者预算约束①基本假定a ．典型消费者在每一时期有h 单位的时间，并在每一时期都将该时间划分为工作时间和闲暇时间；b ．w 表示当期实际工资，w ′表示未来实际工资，r 表示实际利率，消费者当期和未来向政府缴纳的一次总付税，分别为T 和T ′；c ．把w 、w ′和r 视为给定，该典型消费者是价格接受者。

从消费者的角度看，税收也是给定的。

2 / 205②预算约束a ．当期预算约束当期，典型消费者挣得实际工资收入w （h －l ），从典型企业那里获得股息收入π，纳税T ，当期可支配收入是w （h －l ）＋π－T 。

当期可支配收入被划分为消费和储蓄，储蓄的表现形式是债券，获取的一时期实际利率为r 。

在这种情形下，消费者通过发行债券来借款。

于是，消费者的当期预算约束是：C ＋S P ＝w （h －l ）＋π－Tb ．未来预算约束未来，典型消费者获取的实际工资收入w ′（h －l ′），从典型企业那里获得股息收入π′，向政府纳税T ′，并获得当期储蓄的本息（1＋r ）S p 。

由于未来是最后时期，又由于假定消费者没有留下遗产，因此未来消费者的全部财富都用于消费，于是，消费者的未来预算约束是：C ′＝w′（h －l ′）＋π′－T ′＋（1＋r ）S pc ．一生预算约束把S p 代入当期预算约束，可以得到典型消费者的一生预算约束3 / 205该预算约束表明，消费的现值（等式左边）等于一生可支配收入的现值（等式右边）。

（2）典型消费者的最优决策典型消费者的问题是，选择未来消费C ′、当期消费C 、当期闲暇时间l 和未来闲暇时间l ′，使其境况尽可能改善，同时又满足一生预算约束。

消费者的最优决策的三个边际条件：①消费者在当期作出工作—闲暇决策，因此，当消费者实现最优时，有： MRS l ，c ＝w亦即消费者通过选择当期闲暇和消费，使闲暇对消费的边际替代率等于当期实际工资，就可以实现最优。

第5章封闭经济下的一时期宏观经济模型一、复习题1．学习封闭经济模型为什么有用？答：封闭经济模型反映的对象是一个单独的国家，与其他国家无关，即没有对外贸易往来。

封闭经济比较容易理解，将一个经济体的经济开放时其经济的大部分性质都不会改变，而且将全世界作为一个整体时封闭经济是一个合理的模型。

同时，可以通过分析在封闭经济中，市场中的消费者和企业是如何互动的，来探讨宏观经济模型的构建方法。

2．政府在一时期封闭经济模型中的作用是什么？答：政府在一时期封闭经济模型中的作用是征税和购买商品。

实践中，政府提供许多不同的产品和服务，包括道路和桥梁、国防、空中交通管制以及教育。

经济学家一般认为，政府在提供公共物品中应发挥特殊作用，因为私人部门难以或不可能提供公共物品。

3．在一时期模型中，政府可以有赤字吗？请解释。

答：在一时期模型中，资金的借、贷行为都无法存在，因此政府无法为其赤字融资，即政府没有赤字。

在预算约束下，政府不能通过借债为其支出筹资，税收收入也不能高于其支出。

政府预算赤字，即G－T≡0。

4．模型中的内生变量有哪些？答：内生变量是由模型本身决定的。

模型中的内生变量包括：C（消费）、N s（劳动供给）、N d（劳动需求）、T（税收）、Y（总产出）和w（市场实际工资）。

5．模型中的外生变量有哪些？答：外生变量是由模型以外的因素决定的。

模型中的外生变量有外生变量G（政府支出）、z（全要素生产率）和K（经济的资本存量）。

6．就这个模型而言，竞争性均衡必须满足哪四个条件？答：竞争性均衡必须满足：（1）典型消费者在他的预算约束下会选择C（消费）和N s（劳动供给），以使其境况尽可能得到改善；（2）典型企业会选择N d（劳动需求），以使其利润最大化；（3）劳动力市场出清，即N d＝N s；（4）政府预算约束得到满足，即G＝T。

7．生产可能性边界的斜率的经济意义是什么？答：生产可能性边界斜率为－MP N，生产可能性边界斜率也被定义为－MRT l，C，MRT l，C为闲暇与消费之间的边际转换率。

第1章导论一、名词解释1．宏观经济学（macroeconomics）答：宏观经济学是与“微观经济学”相对而言的，指研究整体经济现象，包括通货膨胀、失业和经济增长的经济学。

宏观经济学以国民经济总体作为考察对象，研究经济生活中有关总量的决定与变动，解释失业、通货膨胀、经济增长与波动、国际收支与汇率的决定与变动等经济中的宏观整体问题，所以又称之为总量经济学。

宏观经济学的中心和基础是总供给—总需求模型。

具体来说，宏观经济学主要包括总需求理论、总供给理论、失业与通货膨胀理论、经济周期与经济增长理论、开放经济理论、宏观经济政策等内容。

对宏观经济问题进行分析与研究的历史十分悠久，但现代意义上的宏观经济学直到20世纪30年代才得以形成和发展起来。

宏观经济学诞生的标志是凯恩斯于1936年出版的《就业、利息和货币通论》。

宏观经济学在20世纪30年代奠定基础，二战后逐步走向成熟并得到广泛应用，20世纪60年代后的“滞胀”问题使凯恩斯主义的统治地位受到严重挑战并形成了货币主义、供给学派、理性预期学派对立争论的局面，20世纪90年代新凯恩斯主义的形成又使国家干预思想占据主流。

宏观经济学是当代发展最为迅猛，应用最为广泛，因而也是最为重要的经济学学科之一。

2．国内生产总值（gross domestic product，GDP）答：国内生产总值指一个国家（地区）领土范围内，本国（地区）居民和外国居民在一定时期内（通常为一年）所生产和提供的最终物品和劳务的市场价值。

GDP一般通过支出法、收入法、生产法三种方法进行核算。

用支出法计算的国内生产总值等于消费、投资、政府支出和净出口之和；用收入法计算的国内生产总值等于工资、利息、租金、利润、间接税和企业转移支付和折旧之和。

用生产法计算的国内生产总值等于一个国家在一定时期内所生产的所有产出和服务的价值总和减去生产过程中所使用的中间产品的价值总和。

GDP是一国范围内生产的最终产品的市场价值，因此是一个地域概念，而与此相联系的国民生产总值（GNP）则是一个国民概念，乃指某国国民所拥有的全部生产要素所生产的最终产品的市场价值。

第5篇货币和经济周期第12章货币、银行、价格和货币政策12.1复习笔记一、货币1．货币三个重要职能（1）交换媒介货币的突出经济特征是它的交换媒介作用，原因在于：①有关资产品质的信息常常不完整；②一些资产的面值很大，难以用于零买；③一些资产按其市值出售要花时间。

（2）价值贮藏（3）记账单位2．货币供给的衡量（1）最狭义的货币总量是M0，它有时指基础货币或外在货币。

基础货币完全由联邦储备系统——简称美联储（the Fed）——的负债构成，构成M0的负债是流通于美联储之外的美钞和存款机构在美联储的存款。

M0的数量被称为外在货币，因为它是流通于银行系统之外的货币数量。

（2）M1的数量等于美钞（指流通于美国财政部、美联储和存款机构金库之外的美元）、旅行支票、活期存款和存款机构其他交易账户之和，M1是用来衡量私人部门进行交易时用得最广泛的资产指标。

（3）M2的数量是M1加上储蓄存款、小额储蓄存款和零售货币市场共同基金。

二、货币跨期模型1．交换中需要货币①在现代经济学中，物物交换，即以商品交换商品，困难重重。

②在有些情况下，难以或不可能进行信用交易。

尽管现代信用卡制度化解决了利用个人信用进行交易所衍生的一些信息问题，但这种制度的实施成本高。

由于货币容易识别，除假币问题外，利用货币进行交易所衍生的信息问题基本不存在。

2．实际利率、名义利率和费雪关系式假定外在货币的全部存量由通货构成，P表示当期价格水平，用P′表示未来价格水平。

名义债券是当期售价1单位货币、未来偿还1＋R单位货币的资产。

因此，R是用货币单位表示的债券收益率，即名义利率。

（1）通货膨胀率实际利率是某人从当期到未来持有名义债券时所获得的实际收益率。

实际利率可以根据名义利率和通货膨胀率i来确定，i定义为：i＝（P′－P）/P即通货膨胀率是价格水平从当期到未来的增长率。

（2）费雪关系式①实际利率用以欧文·费雪命名的费雪关系式来确定，可表述为：1＋r＝（1＋R）/（1＋i）②费雪关系式的推导以实际值来看，购得名义债券的人，当期放弃1/P 商品，未来就获得回报（1＋R）/P′商品。

1 / 37第1章 导 论1.1 复习笔记一、宏观经济学1．宏观经济学的研究对象宏观经济学的研究对象是众多经济主体的行为。

它关注的是消费者和企业的总体行为、政府的行为、单个国家的经济活动总水平、各国间的经济影响，以及财政政策和货币政策的效应。

2．宏观经济学与微观经济学的联系与区别（1）联系微观经济学家与宏观经济学家都在使用非常相似的研究工具。

宏观经济学家用来描述消费者与企业的行为、目标与约束，以及他们之间如何相互影响的经济模型，是根据微观经济学原理建立起来的，而且在分析这些模型和拟合数据时通常都用微观经济学家所用的方法。

2 / 37（2）区别宏观经济学的研究对象有别于微观经济学，宏观经济学侧重于总量研究，强调的问题主要是长期增长和经济周期。

微观经济学主要针对单个消费者或者企业的行为选择。

二、国内生产总值、经济增长与经济周期1．国内生产总值（gross domestic product ，GDP ）国内生产总值是一国在某一特定时期在境内生产的产品和服务的数量。

GDP 也表示那些对国内产出作出贡献的人挣得的收入总量。

实际GDP 是针对通货膨胀进行调整后的总产出衡量指标。

2．经济增长（long-run growth ）经济增长率是一个国家当年国内生产总值对比往年的增长率。

经济正增长一般被认为是整体经济景气的表现。

长期增长是指一国长期的生产能力和平均生活水平的提高。

3．经济周期（business cycles ）经济周期是指总体经济的短期上下波动，或经济的繁荣与衰退。

3 / 37三、宏观经济模型1．宏观经济模型及其假设宏观经济模型是用来解释长期经济增长、经济周期存在的原因、以及经济政策在宏观经济中应发挥的作用的模型。

确切的说，宏观经济模型的基本构造是用来描述下列特征的：（1）经济中相互影响的消费者与企业。

（2）消费者希望消费的一组商品。

（3）消费者对商品的偏好。

（4）企业生产商品可采用的技术。

（5）可利用的资源。

Chapter 5A Closed-Economy One-PeriodMacroeconomic Model⏹Teaching GoalsThere are three key points to be learned from this chapter. The first point is that when we allow the consumers and firms that we studied in Chapter 4 to interact with each other and with the government, the economy is able to achieve equilibrium through price adjustment. In this particular case, the “price” is the relative price of leisure, the real wage. The second important point is that the equilibrium that markets settle upon is a favorable one, in the sense of Pareto optimality. This point is in keeping with Adam Smith’s notion that the “invisible hand” of self-interested individuals, meeting in a competitive market, can work for the common good. The third point is that we can directly discover the equilibrium position of a market economy by solving an economic planner problem. Although students may find this point to be somewhat arcane, stress the point that it will be much simpler to solve problems (e.g., exam problems) by working with a planner problem as opposed to directly solving general equilibrium problems. The students, however, need to be aware when this solution method is not applicable. The section about the Laffer curve is a good way to show when social and private optima do not coincide.Once students have mastered the mechanics of the model, the two problems for which this model is best suited are the analyses of changes in government spending and total factor productivity. In working these problems, stress the applicability of these results to historical applications and as a guide to understanding current events.A key tactic of the textbook’s approach is the critical assessment of the usefulness and credibility of competing models. Therefore, it is important to stress the extent to which models fit the facts. Does this model fit the facts of long-run growth? Does this model fit the facts of the typical business cycle? These kinds of questions come up again and again in the course of macroeconomic study. Stress again and again that scientific study needs to relate to observations, in our case the stylized facts of Chapter 2.⏹Classroom Discussion TopicsAn alternative approach to this material is to start with the example of Robinson Crusoe (or Castaway, Gilligan’s Island, etc.). Does an isolated individual have any economic choices? What would guide these choices? Would you rather be on an island with a more plentiful food supply? A pure income effect can then be presented in the form of extra food (or a volleyball) washing up on shore, or in the form of “pirates” (government?) demanding tribute. An increase in total factor productivity can be in the form of obtaining a fishing net or a ladder to climb coconut trees. A change in capital can be the consequence of a hurricane, etc. The next step would be to ask the students about the likely consequences of additional individuals on the island. If they are all identical, and there are no economies to team production, will there be any reason for markets to exist? Could a market improve things? How and why? Typically, markets improve things onlyChapter 5 A Closed-Economy One-Period Macroeconomic Model 39 to the extent that people are different. However, these types of differences are what we are willing toignore when we adopt the fiction of a representative consumer.OutlineI. Competitive EquilibriumA. A One-Period Model1. No Borrowing or Lending2. G = TB. Equilibrium Modeling1. Endogenous Variables2. Exogenous Variables3. Hypothetical ExperimentsC. Properties of a Competitive Equilibrium1. Representative Consumer Maximizes Utility Subject to Budget Constraint2. Representative Firm Maximizes Profits3. Markets Clear4. Government Budget Constraint Satisfied5. ,,l C l CN w MRS MRT MP === II. OptimalityA. Pareto OptimalityB. Welfare Theorems1. 1st Theorem: A Competitive Equilibrium Can Be Pareto Optimal2. 2nd Theorem: A Pareto Optimum Can Be a Competitive EquilibriumC. Inefficiencies1. Externalities2. Distorting Taxes3. Monopoly PowerD. Using the Second Theorem1. Pareto Optima Are Easier to Identify2. Effects of Disturbances on Pareto OptimaIII. Effects of an Increase in Government SpendingA. Impact Effect1. Parallel Downward Shift in PPF2. Pure Income EffectB. Equilibrium Effects1. Reduced Consumption2. Reduced Leisure and Increased Hours of Work3. Increased Output4. Lower Real WageC. Crowding-OutD. Government Spending a Source of Business Cycles?40 Williamson • Macroeconomics, Fifth Edition1. Government Spending Shocks Wrongly Predict Countercyclical Consumption2. Government Spending Shocks Wrongly Predict Countercyclical Real WagesIV. Effects of an Increase in Total Factor ProductivityA. Impact Effect1. Upward Shift in PPF2. Steeper PPF3. Income and Substitution EffectsB. Equilibrium Effects1. Increased Consumption2. Leisure and Hours Worked May Rise or Fall3. Increased Output4. Higher Real WageC. Productivity and Long-Run Growth1. Consumption Grows over Time2. Hours Worked Remain about Constant3. Output Increases over Time4. Real Wages Rise over TimeD. Productivity as Source of Business Cycles?1. Consumption Is Procyclical2. Cyclical Properties of Hours Workeda. Procyclical Hours Worked Is a Business Cycle Factb. Need Strong Substitution Effect to Predict Procyclical Hoursc. Intertemporal Substitution of Leisure3. Increased Output Defines the Cycle4. Procyclical Real Wage RateV. Income Tax Revenue and the Laffer CurveA. Tax Revenue1. The Tax Base Depends on the Proportional Tax Rate2. The Laffer Curve Measures Tax Revenue as a Function of the Tax Rate3. Unless the Tax Rate Is Optimal, Two Tax Rates Yield the Same Tax Revenue4. Supply-Side Economists Claim the U.S. Economy Is at the Bad Tax Rate5. Empirical Evidence Tends to Prove Supply-Side Economists WrongVI. A Model of Public Goods: How Large Should the Government Be?A. Effects of higher GDP on optimal government spending.B. Better government technology: what happens to optimal government spending and private spending?Chapter 5 A Closed-Economy One-Period Macroeconomic Model 41 Solutions to End-of-Chapter Problems1. Although we often think about the negative externalities of congestion and pollution in cities, theremay also be some positive externalities. A concentrated population is better able to support the arts and professional sports; cities typically have a greater variety of good restaurants, etc. Perhaps a more basic issue is that there may be some increasing returns to scale at low output levels that makeindustrial production more costly in small towns. There may also be externalities in production in being located close to other producers. One example would be the financial industry in financialcenters like New York, London, Tokyo, etc. Another example would be large city medical centers that enhance coordination between primary physicians and specialists.One market test of whether productivity is higher in cities would be to look at the wages in cities versus the wages in smaller towns and rural areas. Wages are often higher in cities for individuals of comparable skills. Market efficiency suggests that the higher wages be reflective of a higher marginal product of labor, and that the higher wages compensate those choosing to live in cities for thenegative externalities that they face.2. In a one period model, taxes must be exactly equal to government spending. A reduction in taxes istherefore equivalent to a reduction in government spending. The result is exactly opposite of the case of an increase in government spending that is presented in the text. A reduction in governmentspending induces a pure income effect that induces the consumer to consume more and work less. At lower employment, the equilibrium real wage is higher because the marginal product of labor rises when employment falls. Output falls, consumption rises, employment falls and the real wage rises. 3. The only impact effect of this disturbance is to lower the capital stock. Therefore, the productionpossibility frontier shifts down and the marginal product of labor falls (PPF is flatter).(a) The reduction in the capital stock is depicted in the figure below. The economy starts at point Aon PPF1. The reduction in the capital stock shifts the production possibilities frontier to PPF2.Because PPF2 is flatter, there is a substitution effect that moves the consumer to point D. Theconsumer consumes less of the consumption good and consumes more leisure. Less leisure alsomeans that the consumer works more. Because the production possibilities frontier shifts down,there is also an income effect. The income effect implies less consumption and less leisure (more work). On net, consumption must fall, but leisure could decrease, remain the same, or increase,depending on the relative strengths of the income and substitution effect. The real wage must also fall. To see this, we must remember that, in equilibrium, the real wage must equal the marginalrate of substitution. The substitution effect implies a lower marginal rate of substitution. Theincome effect is a parallel shift in the production possibilities frontier. As the income effectincreases the amount of employment, marginal product of labor must fall from point D topoint B. This reinforces the reduction in the marginal rate of substitution from point A to point D.42 Williamson • Macroeconomics, Fifth Edition(b) Changes in the capital stock are not likely candidates for the source of the typical businesscycle. While it is easy to construct examples of precipitous declines in capital, it is more difficult to imagine sudden increases in the capital stock. The capital stock usually trends upward, and this upward trend is important for economic growth. However, the amount of new capital generatedby a higher level of investment over the course of a few quarters, of a few years, is very small in comparison to the existing stock of capital. On the other hand, a natural disaster that decreasesthe stock of capital implies lower output and consumption, and also implies lower real wages,which are all features of the typical business cycle contraction.4. Government Productivity. First consider the benchmark case in which 1,z = and there is no effect ofchanges in z on government activities. Now suppose that z increases. This case of an increase in z is depicted in the figure below. The original production possibilities frontier is labeled PPF 1 and the competitive equilibrium is at point A. If the increase in z only affects the economy through thechange in (,),zF K N then the new production possibilities frontier is PPF 2. The diagram shows a case in which the income and substitution effects on leisure exactly cancel out, and the economy moves to point B. The equation for the production possibilities frontier is (,).C zF K h l T =−− In the benchmark case, T G = and so we have (,).C zF K h l G =−− For this problem, /,T G z = and so the production possibilities frontier is given by (,)/.C zF K h l G z =−− When 1,z = the two PPFscoincide. When z increases, the vertical intercept of the PPF increases by /.G z ∆ Therefore, the new PPF is PPF 3 in the figure below. The competitive equilibrium is at point C . There is an additional income effect that provides an additional increase in equilibrium consumption, and a reinforcedincome effect that tend to make leisure increase. Therefore, relative to the benchmark case, there is a larger increase in consumption, and either a smaller decrease in leisure or a larger increase in leisure.Chapter 5 A Closed-Economy One-Period Macroeconomic Model 435. Change in preferences.(a) At the margin, the consumer decides that leisure is more preferred to consumption. That is, theconsumer now requires a bigger increase in consumption to willingly work more (consume less leisure). In more intuitive language, the consumer is lazier.(b) To work out the effects of this change in tastes, we refer to the figure below. The productionpossibility frontier in this example is unchanged. The consumer now picks a new point at which one of the flatter indifference curves is tangent to the production possibilities frontier. That is,equilibrium will shift from point A to point B. Consumption falls and leisure rises. Therefore, the consumer works less and produces less. Because employment has fallen, it also must be the case that the real wage increases.44 Williamson • Macroeconomics, Fifth Edition(c) This disturbance, which some might characterize as a contagious outbreak of laziness, wouldhave the appearance of a recession, as output and employment both fall. The consequentreduction in consumption is also consistent with a typical recession. However, in this case thereal wage would rise, which is inconsistent with the business cycle facts. Therefore, this type of preference change is not a cause of recessions.6. Production-enhancing aspects of government spending.(a) The increase in government spending in this example has two separate effects on the productionpossibilities frontier. First, the increase in government spending from G1 to G2 implies a parallel downward shift in the production possibilities frontier. Second, the productive nature ofgovernment spending is equivalent to an increase in total factor productivity that shifts theproduction possibilities frontier upward and increases its slope. The figure below draws theoriginal production possibilities frontier as PPF1 and the new production possibilities frontier as PPF2. If the production-enhancing aspects of the increase in government spending are largeenough, representative consumer utility could rise, as in this figure.Chapter 5 A Closed-Economy One-Period Macroeconomic Model 45(b) There are three effects at work in this example. First, there is a negative income effect from theincrease in taxes needed to pay for the increased government spending. This effect tends to lower both consumption and leisure. Second, there is a substitution effect due to the productive effect of the increase in G, which is drawn as the movement from point A to point D. This effect tends to increase both consumption and leisure. Third, there is a positive income effect from the increase in G on productivity. This effect tends to increase both consumption and leisure. In the figure above, the movement from point D to point B is the net effect of the two income effects. Ingeneral, consumption may rise or fall, and leisure may rise or fall. The overall effect on output is the same as in any increase in total factor productivity. Output surely rises.46 Williamson • Macroeconomics, Fifth Edition7. (a) If households dedicate a hours to education today, it reduces the hours available for leisure andwork to h−a. The PPF has to start form point (−G, h−a). Graphically, this corresponds to thefigure in the answer of question 6(b). The consequence is thus a reduction in consumption,leisure, employment, aggregate output, but an increase in the real wage.(b) In the future, workers will be more efficient, which corresponds to an increase in total factorproductivity. Thus we have the case described in Figure 5.9 of the textbook. There is an increase in future consumption, aggregate output and the real wage. Changes in employment and leisureare ambiguous.(c) An increase in education leads to an immediate loss in welfare, as both leisure and consumptionare reduced. But this is compensated by an increase in future consumption, and possibly ofleisure, too. Whether this is worth doing depends on the preferences of households over currentand future utility.8. We need to analyze each case separately. Start with the good equilibrium. As government expensesincrease, more tax revenue needs to be raised, and thus the tax rate needs to be increased. As shown in the figure below, this tilts down the linear PPF. The new equilibrium leads to a lower indifferencecurve. This leads to a negative income effect and a lower wage (remember, it is z(1 − t)), thus asubstitution effect. The income effect lowers consumption and leisure, the substitution effectdecreases consumption and increases leisure. All in all, consumption is lower and leisure is higher, as we know that the substitution effect dominates the income effect. This means that the labor supply is reduced, and thus equilibrium labor and output.The story is different in the bad equilibrium. To increase tax revenue, one needs to reduce the tax rate. Then all the changes discussed above are exactly in the opposite direction.9. We know from previous analysis that an improvement in total factor productivity pushes up the PPF,and thus leads to an increase in consumption, a decrease in leisure, and thus an increase in thequantity of labor supplied. This increases the tax base, and thus allows a reduced tax rate to achieve the same tax revenue, or in other words, it pushes the left portion of the Laffer curve to the left. The reduction in the tax rate has then a further impact on the variables of interest: as we saw in question 7, first part with a reversal of all signs: consumption increases even more and leisure decrease yet more, leading to an even higher quantity of labor. All in all, as both labor and total factor productivityincrease, output increases.Chapter 5 A Closed-Economy One-Period Macroeconomic Model 47 10. a) With perfect substitutes preferences, indifference curves are straight lines with slope –b, where b is the marginal rate of substitution. If b > 1/q, so that the indifference curves are steeper than the PPF, then the optimal choice for the government is G=qY, so that C = 0. Thus if b is relatively large (the consumer cares relatively more about public goods relative to private goods) and q is relatively large (the government is relatively efficient), then all production should be carried on by the government. Alternatively if b < 1/q, then G = 0 and C = Y, so that government is inactive. Thus, if b increases or q increases, this makes it more likely that b > 1/q and we have the first case, where all production comes from the government.b) With perfect complements, indifference curves are as depicted in Figure 10.1, and the initial equilibrium is at point A. If a increases, then the equilibrium shifts from A to B in Figure 10.2. An increase in a represents a greater preference for private goods relative to public goods, and in Figure 10.2, this results in less public goods and more private consumption in equilibrium. If q increases, this shifts the PPF out as in Figure 10.3, and the equilibrium shifts from A to B. Both C and G increase, driven by income effects.Figure 10.1Figure 10.248 Williamson • Macroeconomics, Fifth Edition ©2014 Pearson Education, Inc.Figure 10.311. (a) If public goods and private goods are perfect substitutes, then the consumer always chooses C and l so that C = dl , and so given the production possibilities frontier, we must haveC C h G d =−− and so()1d h G C d −=+ and 1h G l d −=+ Therefore, consumption and leisure both decrease when government spending increases – a pure incomeeffect.(b) However, suppose that public goods and private goods are perfect complements. As in part (a), it is always optimal for the consumer to choose C and l so that C = dl. But the consumer faces a tax T = G , and the wage is w=1. So, if the consumer chooses the C = dl and the budget constraint is satisfied, then ()1d h G C d −=+ and1h G l d −=+,just as in part (a). This is the only optimum if,C aG ≤orChapter 5 A Closed-Economy One-Period Macroeconomic Model 49 ©2014 Pearson Education, Inc.(1)dh G a d d ≥++ But, if (1)dh G a d d≤++ Then, it is optimal for the consumer to chooseC aG = and aG l d=. In this case, the consumption bundle of the consumer actually lies inside the production possibilitiesfrontier, and government spending has a Keynesian effect. More government spending implies greater consumption.。

1 / 63第13章 价格和工资具有灵活性的经济周期模型13.1 复习笔记一、经济周期理论概述1．经济周期理论的发展进程（1）凯恩斯主义经济周期模型货币在短期不是中性的，这种非中性是由工资和价格的短期刚性引起的。

在老凯恩斯主义宏观经济模型（20世纪80年代以前的凯恩斯主义模型）中，价格和工资刚性是经济冲击造成总产出波动的形成机制的关键所在。

价格和工资缓慢向其有效值变动的事实，意味着货币政策和财政政策在应对总量冲击时可以发挥稳定经济的作用。

（2）货币主义的经济周期模型货币主义者通常认为，货币政策是比财政政策更有效的稳定工具，但他们对政府政策微调经济的能力持怀疑态度。

一些货币主义者认为，在短期，政策可能是有效的，但非常短。

（3）理性预期学派的经济周期模型2 / 63理性预期革命提出的两大原则是：①宏观经济学模型应建立在微观经济学原理的基础上，即这些模型应以对消费者和企业的偏好、禀赋、技术和最优行为的描述为基础；②包含灵活工资和价格的模型可能是研究宏观经济现象的最富有成效的工具。

2．分析不同经济周期理论的必要性（1）财政政策和货币政策的决策者能够通过经济周期理论，了解左右经济的宏观经济冲击是什么，它对未来总体经济活动有什么影响。

（2）每一种经济周期模型都能确定经济的一个或几个特征及经济对宏观经济冲击作出反应的一些方面。

如果将所有这些特征纳入一个模型中，将无助于认识经济周期行为和政府政策的基本原理。

二、实际经济周期模型实际经济周期模型由芬恩·基德兰德和爱德华·普雷斯科特于20世纪80年代初首创。

1．全要素生产率持续提高的均衡效应假定货币跨期模型中的全要素生产率持续提高，即z 和z ′分别都提高。

（1）全要素生产率z 持续提高的影响3 / 63①当期全要素生产率z 提高会增加每一数量劳动投入量的边际劳动产量，图13-1（a ）中的劳动需求曲线右移，从而导致图13-1（b ）中的产出供给曲线右移。

威廉森《宏观经济学》（第5版）笔记和课后习题详解完整版-精研学习䋞提供免费试用20％资料全国547所院校视频及题库考研全套>视频资料>课后答案>往年真题>职称考试第1章导论1.1复习笔记考点一：宏观经济学★★1宏观经济学的研究对象宏观经济学的研究对象是众多经济主体的经济行为。

它主要关注消费者和企业的总体行为、政府的行为、单个国家的经济活动总水平、各国间的经济影响以及财政政策和货币政策的效应。

2宏观经济学与微观经济学的联系与区别（见表1-1）表1-1宏观经济学与微观经济学的联系与区别考点二：国内生产总值、经济增长与经济周期★★★1国内生产总值（GDP）国内生产总值是指在某一特定时期内，一国在境内生产的产品和服务的数量；也表示那些对国内产出作出贡献的人挣得的收入总量。

区别于名义GDP，实际GDP是针对通货膨胀因素进行调整后的总产出衡量指标。

2经济增长经济增长率是一个国家当年国内生产总值相比往年的增长率。

经济正增长一般就认为整体经济是景气的。

长期增长是指一国长期的生产能力和平均生活水平的提高。

3经济周期经济周期是指总体经济在短期内的上下波动，或经济的繁荣与衰退。

考点三：宏观经济模型★★★1宏观经济模型的特征宏观经济模型是用来解释长期经济增长、经济周期存在的原因以及判断经济政策在宏观经济中应发挥的作用的模型。

准确来说，宏观经济模型的基本构造是用来描述下列特征的：（1）经济中相互影响的消费者与企业。

（2）消费者愿意消费的一组商品。

（3）消费者对商品的偏好。

（4）企业生产商品可采用的技术。

（5）生产时可利用的资源。

2宏观经济模型的假设两个重要假设：①关于消费者与企业的目的。

假定消费者尽可能达到效用最大化，企业尽可能达到利润最大化，即他们在既定的约束下都会竭尽所能；②关于消费者与企业的行为如何实现协调一致。

假定经济处于均衡状态。

在竞争性均衡中，假定商品经由市场买卖，消费者和企业在市场中都是价格接受者。

第10章　信贷市场缺陷：信贷摩擦、金融危机和社会保障10.1　复习笔记考点一：李嘉图等价不成立的原因　★1．李嘉图等价不成立的原因之一是信贷市场缺陷或“摩擦”。

两种信贷市场摩擦：（1）信息不对称信息不对称指在某一特定市场中，有些市场参与者对其自身的了解要多于其他市场参与者。

信贷市场中的信息不对称源于借方对其自身信誉的了解要多于贷方。

（2）有限承诺有限承诺指市场参与者不能提前承诺未来一定会采取某种行动。

就信贷市场而言，可能出现的违约情况就是借方不能承诺偿还贷款，贷方为防止这种违约所用的一个方法是要求提供抵押品做担保。

2．李嘉图等价不成立与市场失灵有关。

一般来说，政府社会保障计划会强制适龄就业人口进行某种水平的储蓄，用以向退休者提供养老金。

因为存在一定程度上的信贷市场失灵，所以政府会发挥作用。

考点二：信贷市场缺陷和消费　★★1．消费者面临不同的借贷利率在第9章构建的基本信贷市场模型中，消费者在当期和未来的收入分别是y和y′，在当期和未来的消费分别是c和c′。

消费者在当期的储蓄是s。

消费者按实际利率r1贷款、按实际利率r2借款，其中r2＞r1。

银行按实际利率r1从贷方（消费者储户）借款，按实际利率r2发放贷款，在均衡中会出现r2－r1＞0的利差。

消费者的当期预算约束式是：c＋s＝y－t如果s≥0（消费者是贷方），未来预算约束为：c′＝y′－t′＋s（1＋r1）如果s≤0（消费者是借方），未来预算约束为：c′＝y′－t′＋s（1＋r2）用第9章的方法推导出消费者的一生预算约束：若c≤y－t（消费者是贷方），则：c＋c′/（1＋r1）＝y＋y′/（1＋r1）－t－t′/（1＋r1）＝we1　（10.1）若c≥y－t（消费者是借方），则：c＋c′/（1＋r2）＝y＋y′/（1＋r2）－t－t′/（1＋r2）＝we2　（10.2）图10-1给出了消费者的预算约束线。

若消费者是贷方，其预算约束为AB，由等式（10.1）给出，斜率为－（1＋r2）；若消费者是借方，其预算约束为DF，由等式（10.2）给出，斜率为－（1＋r2）。