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Macroeconomic Analysis 2003. BOP Crisis and Economic Policy Blanchard (20) Mankiw (2) M&S (20). Nature of Economic Crisis. Three GAPs: Investment-Saving, Budget and Trade Gaps . S(Y). Trade Surplus. K-outflow. i. Private saving +public saving = net export. i. I(r). Trade deficit.
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Macroeconomic Analysis 2003 BOP Crisis and Economic Policy Blanchard (20) Mankiw (2) M&S (20) Lecture 22
Nature of Economic Crisis Lecture 22
Three GAPs: Investment-Saving, Budget and Trade Gaps S(Y) Trade Surplus K-outflow i Private saving +public saving = net export i I(r) Trade deficit K-inflow 0 Saving and Investment Lecture 22
Internal and External Balance Under the Fixed Exchange Rate Regime Lecture 22
Macroeconomic Fundamentals Lecture 22
Basics of the Foreign Exchange and the Financial Market Lecture 22
Speculation and Crisis Lecture 22
First generation models of Economic Crisis Lecture 22
Second generation models of Economic Crisis Lecture 22
Two Views About Asian Crisis Lecture 22
Mexican crisis Lecture 22
Crisis in transition economies Lecture 22
Main components of economic liberalisation Lecture 22
Exercises • What are the macroeconomic fundamentals (a) causing economic crisis (b) that avoid economic crisis? • What were the reasons and consequences of Asian crisis of 1997-1999? • How did Mexican and Latin American crises emerged and solved? • What were the problems of liberalisation in the transition economies? Lecture 22