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Hoorcollege 12 aantekeningen - Macro-Economie
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Volledige samenvatting van alle stof behandeld in hoorcollege 12.
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Hoorcollege 12 – Geaggregeerde Vraag enGeaggregeerd Evenwicht – H14 (3/2)
Afleiding AD curve
Philips Curve:
π=~
π −b U gap +s
Okun’s Law
U gap =−h Y gap
Aggregate supply:
π=~
π +a Y gap + s
Taylor’s rule:
i=i+a π gap +b Y gap
Fisher principe:
r ≈ i−π
i=r + π
Aggregate Demand – Lange termijn:
Centrale bank kiest een doelwaarde voor de lange termijn inflatie (inflation target) (LAD)
AD op korte termijn in een kleine open economie met vaste wisselkoers
Indien de inflatie (π) stijgt, zorgt dit ervoor dat de TR curve omhoog verschuift.
AD op korte termijn in een kleine open economie met flexibele wisselkoers
Een hogere inflatie zorgt ervoor dat de TR curve omhoog verschuift, maar doordat de wisselkoers
deprecieert daalt de lopende rekening, waardoor de IS curve omlaag verschuift.
Des te langer de korte termijn is, des te steiler de AS curve en des te vlakker de AD curve loopt.
Budgettair beleid
Expansief budgettair beleid:
Op de korte termijn is budgettair beleid effectief in een gesloten economie (H11).
In een open economie is dit ineffectief (H12).
Monetair beleid
Expansief monetair beleid:
Op de lange termijn is monetair beleid ineffectief; er wordt enkel een hogere inflatie bereikt, geen
effect op output.
Op de korte termijn is dit effectief.
KT LT: aanpassing onderliggende inflatie ~
π
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