Uitgebreide samenvatting Macro-Economie gegeven in 2e bachelor Handelswetenschappen aan de UGent.
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SAMENVATTING
MACRO-ECONOMIE
CHARLOTTE DE TEMMERMAN
, DEEL 1 – THE CORE
TITEL 1 – DE KORTE TERMIJN
H3 – DE GOEDERENMARKT
DE EVENWICHTSOUTPUT ...............................................................................................................................................................8
ALGEBRAÏSCH .................................................................................................................................................................................8
productie = vraag....................................................................................................................................................................8
investeren = sparen.................................................................................................................................................................8
GRAFISCH ......................................................................................................................................................................................9
evenwicht ...............................................................................................................................................................................9
veranderingen in de autonome bestedingen ...........................................................................................................................9
IS DE OVERHEID OMNIPOTENT? ....................................................................................................................................................9
H4 - FINANCIËLE MARKTEN I
DE GELDVRAAG EN GELDAANBOD ...............................................................................................................................................10
GELDVRAAG .................................................................................................................................................................................10
GELDAANBOD ...............................................................................................................................................................................10
HET BEPALEN VAN DE INTRESTVOET, DEEL 1 ...............................................................................................................................11
HET BEPALEN VAN DE INTRESTVOET, DEEL 2 ...............................................................................................................................12
DE LIQUIDITEITSVAL ....................................................................................................................................................................12
H5 - HET IS-LM MODEL 1
DE GOEDERENMARKT EN DE IS-CURVE ........................................................................................................................................13
DE GOEDERENMARKT......................................................................................................................................................................13
DE IS-CURVE ................................................................................................................................................................................13
DE GELDMARKT EN DE LM-CURVE ...............................................................................................................................................14
GELDMARKT .................................................................................................................................................................................14
DE LM-CURVE ...............................................................................................................................................................................14
HET IS-LM MODEL ........................................................................................................................................................................15
IS-LM-RELATIE ..............................................................................................................................................................................15
FISCAAL BELEID .............................................................................................................................................................................16
expansief fiscaal beleid .........................................................................................................................................................16
restrictief fiscaal beleid .........................................................................................................................................................16
MONETAIR BELEID..........................................................................................................................................................................17
expansief monetair beleid .....................................................................................................................................................17
restrictief monetair beleid.....................................................................................................................................................17
BELEIDSMIX .................................................................................................................................................................................18
IN EENZELFDE RICHTING ..................................................................................................................................................................18
fiscale en monetaire expansie ...............................................................................................................................................18
fiscale en monetaire restrictie ...............................................................................................................................................18
IN TEGENGESTELDE RICHTING............................................................................................................................................................18
fiscale expansie – monetaire restrictie ..................................................................................................................................18
fiscale restrictie – monetaire expansie ..................................................................................................................................18
HOE REALISTISCH IS HET IS-LM MODEL? ......................................................................................................................................18
, H6 - FINANCIËLE MARKTEN II
NOMINALE VERSUS REËLE INTRESTVOET ....................................................................................................................................19
RISICO EN RISICOPREMIES ...........................................................................................................................................................20
ROL VAN FINANCIËLE INTERMEDIAIRS ........................................................................................................................................20
EEN UITBREIDING VAN HET IS-LM MODEL ...................................................................................................................................21
VAN EEN PROBLEEM OP DE HUIZENMARKT TOT EEN FINANCIËLE CRISIS ...................................................................................22
PRIJS VAN HUIZEN EN SUBRIME HYPOTHEEKLENINGEN .............................................................................................................................22
DE ROL VAN FINANCIËLE INTERMEDIAIRS..............................................................................................................................................22
leverage, securisatie en illiquiditeit van activa, wholesale funding en liquiditeit van passiva .................................................22
macro-economische gevolgen ...............................................................................................................................................22
amerikaanse en europese aanpak.........................................................................................................................................23
Verenigde Staten .............................................................................................................................................................................................. 23
Europa ............................................................................................................................................................................................................... 24
beperkingen..........................................................................................................................................................................24
TITEL 2 – DE MIDDELLANGE TERMIJN
H7 - DE ARBEIDSMARKT
A TOUR OF THE LABOUR MARKET ...............................................................................................................................................26
DE GROTE STROOM ARBEIDERS..........................................................................................................................................................26
LFS: LABOUR FORCE SURVEY ............................................................................................................................................................26
VERANDERINGEN IN DE WERKLOOSHEIDGRAAD ........................................................................................................................27
LOONZETTING ..............................................................................................................................................................................28 2
RESERVATIELOON ..........................................................................................................................................................................28
OMSTANDIGHEDEN OP ARBEIDSMARKT ...............................................................................................................................................28
HENRY FORD – EFFICIENTIELONEN ......................................................................................................................................................28
LOON .........................................................................................................................................................................................28
PRIJSZETTING ...............................................................................................................................................................................28
DE NATUURLIJKE WERKLOOSHEIDSGRAAD .................................................................................................................................29
WHAT’S NEXT?.............................................................................................................................................................................30
H8 - DE PHILLIPSCURVE, DE NATUURLIJKE WERKLOOSHEID EN
INFLATIE
DE PHILLIPSCURVE .......................................................................................................................................................................31
INFLATIE, VERWACHTE INFLATIE EN WERKLOOSHEID .................................................................................................................31
DE PHILLIPSCURVE EN HAAR MUTATIES ......................................................................................................................................32
DE VERANKERING VAN VERWACHTINGEN (ORIGINELE PHILIPSCURVE) ..........................................................................................................32
DE NIET-VERANKERING VAN VERWACHTINGEN ......................................................................................................................................32
DE HER-VERANKERING VAN VERWACHTINGEN .......................................................................................................................................33
DE PHILLIPSCURVE EN DE NATUURLIJKE WERKLOOSHEIDSGRAAD .............................................................................................33
EEN SAMENVATTING EN VELE WAARSCHUWINGEN....................................................................................................................34
SAMENVATTING ............................................................................................................................................................................34
WAARSCHUWINGEN .......................................................................................................................................................................34
variatie in werkloosheidsgraad tussen landen en doorheen de tijd ........................................................................................34
hoge inflatie en de Phillipscurve ............................................................................................................................................34
deflatie en de Phillipscurve ...................................................................................................................................................34
, H9 - VAN KT NAAR MLT: HET IS-LM-PC-MODEL
HET IS-LM-PC MODEL...................................................................................................................................................................35
AFLEIDING ...................................................................................................................................................................................35
HET IS-LM-PC MODEL ...................................................................................................................................................................36
WET VAN OKUN ............................................................................................................................................................................36
VAN KT NAAR MLT .......................................................................................................................................................................37
(MOGELIJKE) COMPLICATIES........................................................................................................................................................38
GELEIDELIJKE AANPASSING ...............................................................................................................................................................38
DEFLATOIRE SPIRAAL ......................................................................................................................................................................38
FISCALE RESTRICTIE REVISITED ....................................................................................................................................................39
DE EFFECTEN VAN EEN TOENAME VAN DE OLIEPRIJS ..................................................................................................................40
H10 – CORONACRISIS
ECONOMISCHE IMPACT VAN DE LOCKDOWN .............................................................................................................................41
MACRO-ECONOMISCHE BELEIDSREACTIE ....................................................................................................................................42
POST-LOCKDOWN ECONOMIE .....................................................................................................................................................42
POST-VACCIN ECONOMIE ............................................................................................................................................................42
TITEL 3 – DE LANGE TERMIJN
H11 - DE ECONOMISCHE GROEI
HET METEN VAN DE LEVENSSTANDAARD ....................................................................................................................................44 3
PROBLEMEN .................................................................................................................................................................................44
grote en kleine landen ..........................................................................................................................................................44
groei van het bbp ..................................................................................................................................................................44
vergelijking tussen landen met een verschillende munt .........................................................................................................44
OPMERKINGEN..............................................................................................................................................................................45
INKOMEN EN GELUK .......................................................................................................................................................................45
GROEI IN ONTWIKKELDE LANDEN VANAF 1950 ...........................................................................................................................45
EEN VERDERE KIJK DOORHEEN TIJD EN RUIMTE ..........................................................................................................................45
H12 – SPAREN, KAPITAALACCUMULATIES EN OUTPUT
EEN EERSTE KIJK OP GROEI - SOLOW ...........................................................................................................................................46
DE AGGRGREGATIEVE PRODUCTIEFUNCTIE ...........................................................................................................................................46
SCHAAL- EN FACTOROPBRENGSTEN ....................................................................................................................................................46
OUPUT PER ARBEIDER EN KAPITAAL PER ARBEIDER..................................................................................................................................46
OORZAKEN VAN GROEI ....................................................................................................................................................................46
INTERACTIES TUSSEN KAPITAAL, OUTPUT EN SPAREN/INVESTERINGEN ....................................................................................47
RELATIE TUSSEN KAPITAAL EN PRODUCTIE : K→Y ...................................................................................................................................47
RELATIE TUSSEN OUTPUT EN INVESTERINGEN: Y→I................................................................................................................................47
RELATIE TUSSEN INVESTERINGEN EN KAPITAALACCUMULATIE : I→∆K .........................................................................................................47
DE GEVOLGEN VAN VERSCHILLENDE SPAARQUOTES ..................................................................................................................48
DYNAMIEK VAN KAPITAAL EN OUTPUT .................................................................................................................................................48
SPAARQUOTE EN OUTPUT ................................................................................................................................................................48
SPAARQUOTE EN CONSUMPTIE..........................................................................................................................................................49
SPAARQUOTE EN SOCIALE ZEKERHEID ..................................................................................................................................................49
FYSIEK VERSUS MENSELIJK KAPITAAL ..........................................................................................................................................50
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