econ 185 - debates in macro

Upload: hfhfhfwww

Post on 03-Jun-2018

237 views

Category:

Documents


0 download

TRANSCRIPT

  • 8/11/2019 ECON 185 - Debates in Macro

    1/16

    !"#$% '()"*(+ ,"-- ./01

    2*(34(5 $%"#4 "5' "-(4 *26785298

    !"#$%#$&

    #:; ?:@ABA>= CDE 8DF:BH; 0 J";K;=H .LM+ 8DHBH;= .ON J";K;=H .P CDE 2>?H>GQ>< NM+ #=+ 4A=H:RH IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII N

    ->BH; 1 J2>?H>GQ>< SM+ *T> UCH '>?==A:D IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 1

    ->BH; V J2>?H>GQ>< 0/M+ *T> !:E> UCH $>B>==A:D IIIIIIIIIIIIIIIIIIIIIIIIIIIIIII V

    ->BH; W J2>?H>GQ>< 0VM+ ->==:D= @>CE+ ,A=BC@ !;@HA?@A>BH; L J2>?H>GQ>< 0LM+ '>QH AD HT> "FH>BH; S J2>?H>GQ>< ..M+ ->==:D= ->CE+ !:D>HCBH; P J2>?H>GQ>< .1 M+ !CBBH= :F ,ADCDBAC@ $>K;@CHA:D= IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII L

    ->BH;= 0/ J2>?H>GQ>< .PM+ U@:QC@ 8GQC@CDB>= IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII S

    ->BH; 00 J%BH:Q>< 0M+ YD>G?@:XG>DH+ Z:Q@>== $>B:[>= CDE HT> U@:QC@ -CQ:< "BH; 0. J%BH:Q>< WM+ 3BH; 0N J%BH:Q>< SM+ !AEOH>BH; 01 J%BH:Q>< 0NM+ *T> U@:QC@A\CHA:D '>QCH> IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 0/

    ->BH; 0V J%BH:Q>< 0VM+ 8DF@CHA:D IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 0/

    ->BH; 0W J%BH:Q>< ./M+ ZC?CD+ ]:GQA>=^ _-:=H '>BCE>` CDE )>X:DE IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 00

    ->BH; 0L J%BH:Q>< .LM+ (;+ $>F:BCE>a IIIIIIIIIIIIIIIIIIIIIIII 0.

    ->BH; 0P J5:[>GQ>< NM+ #TADC IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 0N

    ->BH; ./ J5:[>GQ>< VM+ (G>BH; .0 J5:[>GQ>< 0/M+ (G>

  • 8/11/2019 ECON 185 - Debates in Macro

    2/16

    ->BH; .. J5:[>GQ>< 0.M+ *T> UG:KDK>=+ "KADK CDE $>HAG>DH ,;DEADK IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 0V

    ->BH;= .1O.V J5:[>GQ>< 0P CDE '>B>GQ>< 0M+ 8D>e;C@AHXfIIffffffffffffffffffffffffffffff0V

    ->BH; .W J'>B>GQ>< NM+ 2;GGADK Y? IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 0W

    !"()&% *"+,!,%& -#. ,#/")0-$,"#

    *TA= B@C== A= B:OHC;KTH QX 3==:?T>D $:CBT CDE "@>T *=X[AD=cAI *TA= B:; F:B;=>= :D HT> G:=H

    ?==ADK CDE AG?:= HTCH HT> K@:QC@ >B:D:GX FCB>=I

    *T> B@C== bA@@ Q> ?=>DH>E AD C _E>QCH>` =HX@> Q>Hb>>D HT> ?< J$:CBTM CDE HT> HT>: >DB:; ?C=HA:D= H: ;= CH CDX HAG> E; @>BH;=I

    ->BH;= bA@@ Q> T>@E AD g-4O00W :D !:DECX= CDE g>ED>=ECX= F

  • 8/11/2019 ECON 185 - Debates in Macro

    3/16

    O 3 :FFAB> T:;GCA@ X:;< *, H: =BT>E;@>I

    +%!$()% S C-(I(&$ OTHU ,#$)".(!$,"#

    !"#$% '()"*(+ ,-( .%$/0 (#%1%23 "4 .( 4(( 5*6 ,-( 4*"*( %7 8/%)"/ 2"#$% *-(%$36 ,-( 4#5(1#( %7 2%0(/5186

    http://www.youtube.com/watch?v=GTQnarzmTOc

    9:($:5(. %7 ;%?H>GQ>< V^ .//P I

    j 2H>?T>D 2I $:CBT^ _*T> 2HC@@O2?>>E 2XDE^` 3BH 2XDEABCH>^ ";K;=H .W^ ./01I

    j $:Q>@=cX^ _3:=HO#^ Z;D> 0S^ ./01

    j !CDQC;G^ _gTCH ->==:D= (G>E , $>B>DH #=>CGC@

    +%!$()%& OVL C-(I(&$ OW -#. &%*$%0X%) LHU !),&%&

    >444 2%0($1 2"#$%(#%1%25#4 " *-(%$3 %7 *-( 4*("03 4*"*(E '%(4 "1 (:($F51#$("4518 51#50(1#( %7 #$54(4

    4?CDHI !"#$%&'$() +(+#,- .')) /#0'1$211#0 '& 3%# $)(114

    j"DEb 9 $:=>^ !CK>@^ .//P^ _#:;@E CD >C ?EABH>E HT> BBTDABC@ [> #C;=>= CDE #:D=>e;>DB>= :F HT> .//S #U

  • 8/11/2019 ECON 185 - Debates in Macro

    4/16

    #CD $>ADTCD $:K:FF- "%'1 "'5# 61 7'88#,#&39 : ;(&6> ;9 SWMTU

    j (@@A= *C@@GCD CDE Z:D !:>D^ ->==:D= F 3CDAB :F LMNO ,>E>=> )CDc :F "H@CDHC^ 0PP/I

    $:Q>CD #C44?==A:D`^T()) D3,##3 UQ %TCDACD _4>< CDE HT> 2HC UCH '>?==A:D`^ 7:R(YI

    j 4C CDE ->> %TCDACD^ _*T> UCH '>?==A:D AD HT> YDAH>E 2HCH>= , UCH '>?==A:D`^,>E>=> )CDc

    :F !ADD>C?:@A= d;C[A>b^ 2?

  • 8/11/2019 ECON 185 - Debates in Macro

    5/16

    *AG:HTX 9>T:> CDE (EbCE ?:H>DHAC@+ #:;DHADK HT> @:DKOH> FADCDBAC@ B< 4C??>D>E H: HT> UCH !:E> =H bA@@ Q> EA=B;==>E AD HT> B@C==M

    U U:Og>>c>DEO$>CE> `^

    Z:;44 6>C< %D^s*4( g"-- 2*$((* Z%Y$5"-^ ,>Q

  • 8/11/2019 ECON 185 - Debates in Macro

    6/16

    j )CQX^ ./00 _8E>DHAFXADK U:[>DH 2?>DEADK 2T:Bc=+ 8Hr= "@@ AD HT> *AGADK`^ d;C H>BTDABC@ ?CX^ ./0.^ _U:[>DH 2?>DEADK CDE 3 "BHA[AHX`

    7C@> "I $CG>X^ _#CD U:[>DH 3;= 2HAG;@CH> HT> (B:D:GXa`^ Z:;?H>GQ>< ./00I

    )CQ=`^ d;CQH` JbAHT #CD !I $>ADTCQH`I

    * 4>ADTC

  • 8/11/2019 ECON 185 - Debates in Macro

    7/16

    j U:[>DH $>F:> :D $>K;@CH:44?H>GQ>^ _2T:;@E !:D>HCCD :< #@>CDta ,>E>=> )CDc :F 'C@@C= U@:QC@A\CHA:D CDE

    !:D>HC^ g:< 5:I N.^ ";K;=H .//PI

    j (EbC=AKD`^ g:

  • 8/11/2019 ECON 185 - Debates in Macro

    8/16

    j 2H>?T>D 2I $:CBT^ _*T> 3:=HO#K;@CH:HCG>EA>=a`?C?>< ?=>DH>E CH C

    B:DF>DB> =?:D=:E QX HT> $>=> )CDc :F 8DEAC^ !;GQCA^ ,>Q[A>bI

    $:GCAD $CDBA>^ "CGAB #= CDE UX^ 'C[AE ,:@c>H>< !I UC ,;H; :F HT> 8DH>G^ZCD;C 8G?@ABCHA:D= :F 'C< F:< "==>==ADK HT> Y2 (RH>^`4CFABAH=^` ;,[A>b .//S^ PS+0^ NVSkNPN

  • 8/11/2019 ECON 185 - Debates in Macro

    9/16

    (D UI !>DE:\C^ 7ADB>D\: d;CEO7ABH:< $A:=O$;@@^ v,ADCDBAC@ 8DH>KHC 2XG?:=A;G^ ";K;=H ./01

    2H>?T>D 2I $:CBT^ _-CQ:< [=I #C?AHC@^`AD "%# \#]3 :1'(^ gA@>X .//PI

    j "@CD 2I )@ADE>< CDE "@CD )I 9K>44

  • 8/11/2019 ECON 185 - Debates in Macro

    10/16

    ([A>b 3C?>EADK=

    j $:Q>44,F(1")/(0 G$%0FFX UI gA@@ACG=:D^ >EAH:`

    J#TC?H>?T (I 2HAK@AH\^ Q(F'&? ^)X .//PI

    "%# ,#13 R !:DK> CDE UA:

  • 8/11/2019 ECON 185 - Debates in Macro

    11/16

    >444 517/"*5%1 4%/(/3 " 2%1(*"$3 G-(1%2(1%1E O/%)"/5a"*5%1 "10 054517/"*5%1 ] *(2G%$"$3 %$

    G($2"1(1* #%2G$(445%1 %7 G$5#518E Y"8(FG$5#( /51H"8(46 ;%22%05*3 517/"*5%1 :46 ;`> 517/"*5%16 ,-( $%/( %7 %5/

    G$5#(46 P;%$( 517/"*5%1Q "10 5*4 52G"#* %1 G%/5#36 ,-( G%/5*5#4 %7 517/"*5%1 51 *-( dD ] )/"2518 *$"0518 G"$*1($4

    "10 PG$%*(#*518Q *-( 2500/( #/"446 ,-( c(0 "10 *-( ;%18$(446 ,$"1425445%1 %7 517/"*5%1 "#$%44 #%D 2I $:CBT^ _"=ACt= 8DF@CHA:D *^ ZCD;CF@CHA:D CDE '>?==A:D+ 8= HT> CD (G?AF@CHA:D =>CD=^ "@:D $C[A[^ CDE $ABCA=I s8DF@CHADK "bCX HT> 3;Q@AB '>QHa "D (G?A44 ->DEADK CDE '>?==>E $>=H 0S^ 5;GQ>< 0xgADH>< .//1x3CK>= Nk.W

  • 8/11/2019 ECON 185 - Debates in Macro

    12/16

    j,;c;EC CDE 5CcCG; FA< AD ZC?CD`^ *T> g:E>^ _2T:b !> HT> !:D>X+ ZC?CDr= !:=H 3 #:G?CDA>= :F HT> .///=`I

    j #TDB>+ $>C==>==ADK HT> ZC?CD>=> ,A=BC@

    3:@ABX CDE 2;=HCADCQA@AHX`

    j _gTX HT> ZC?CD>=> (B:D:GX A= D:H U44BHA[>x" B:D:GAB F:X U@:QC@ 8D=HAH;H>I

    +%!$()% S\ C"!$"X%) OWHU (#,$%. &$-$%&U - #%A I%#%)-$,"# "/ h"0X,%& -#. -#"$Y%)

    +"&$ .%!-.%^

    >44

  • 8/11/2019 ECON 185 - Debates in Macro

    13/16

    "10 *-( "$$%8"1#( %7 *-( -(8(2%16 dD 4*"*( "10 /%#"/ 8%:($12(1* 0()*6 ;%$$%45:( (77(#*4 %7 G%/5#3

    D 2I $:CBT^ _*T> UCH YD@ADK^` !:X ^)$ ./0.I

    j 2H>?T>D 2I $:CBT^ _"G> #:D=;G>==CDEB>==A:D`^ 5)($ g:DE:^ ,>

  • 8/11/2019 ECON 185 - Debates in Macro

    14/16

    >44;4 7"//"#3+ ,-( 0"18($4 %7 2510/(44 8(1($"/5a"*5%1 "10

    (R*$"G%/"*5%16 '(#%?T>D 2I $:CBT^ _4AHHADK C )$8# gC@@^` AD "%# \#]3 :1'(^ gA@>X^ .//PI

    j 2H>?T>D 2I $:CBT^ _"=AC (R?:=>E^` ;,Q;DcADK '>B:;?@ADK`^ 7:R (Y

    j !I "XTCD 9:=>^ #T< %HG;cTAD^ !I U:@:=:[^ 2I U;[^ "I *=X[AD=cA^ _*T> (B:D:GX :F HT> 3>:?@>t= $>?;Q@AB :F #TADC F6>` .//P^ Z%Y$5"- %, !%5(*"$6 (#%5%!8#2^ VWJSM^ 0/1NO0/VS

    'C= #C;=> U444 O'` " 8%%0 2("4

  • 8/11/2019 ECON 185 - Debates in Macro

    15/16

    2HAK@AH\^ 2>D^ CDE ,AH:;==A^ [#+

  • 8/11/2019 ECON 185 - Debates in Macro

    16/16

    j *:DA "HcAD=:D^ *T:GC= 3Acc>HHX^ CDE (GGCD;>@ 2C>\^ _*:? 8DB:G>= AD HT> -:DK $;D :F 4A=H: YDAH>E 2HCH>=^ 0P0WO.///+ ([AE>DB> F *CR

    $>H;@ gC@E>D=HD> G:QA@AHX AD 2b>E>D+

    #C?AHC@A=H EXDC=HA>= AD HT> @CDE :F >e;C@ :??:=Is*T> $>[A>b :F (B:D:GAB 2H;EA>= LWI0

    J.//PM+ 00VO01.I

    j,CQB>==A:D= CDE $>B:[>=` "DD;C@ (==CX !ADD>C?:@A= ,>EI

    j 3>< 9@@ CDE "DHT:DX 2GAHT^ ./01^ 82 389(**6r2 s2(#%5' -"g %, #"38*"-82!s ,Y5'"!(5*"-a

    +%!$()% Oc C.%!%0X%) LHU &(00,#I (*