【PPT精品课件】货币金融学7版英文课件--ch23-大学课12861.pptx

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1、Chapter 23The Keynesian Framework and the ISLM Model 2005 Pearson Education Canada Inc.Determination of OutputKeynesian ISLM Model assumes price level is fixedAggregate DemandYad=C+I+G+NXEquilibriumY=YadConsumption FunctionC=a+(mpc YD)Investment1.Fixed investment2.Inventory investmentOnly planned in

2、vestment is included in Yad 2005 Pearson Education Canada Inc.2Consumption Function 2005 Pearson Education Canada Inc.3Keynesian Cross DiagramAssume G=0,NX=0,T=0Yad=C+I=200+.5Y+300=500+.5YEquilibrium:1.When Y Y*,Iu 0 Y to Y*2.When Y Y*,Iu 0 Y to Y*4Expenditure Multiplier5 2005 Pearson Education Canada Inc.