国际货币与金融经济学
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发布时间：2023-05-03 07:09
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时间：2023-10-18 15:25
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时间：2023-10-18 15:25
The Mercantilists’ Views on Trade
The more gold and silver a nation had, the richer and more powerful it was.
Thus the way for a nation to become rich is to export more than it imported
The resulting export surplus would then be settled by an inflow of bullion or precious metals such as gold and silver.
Thus the mercantilists advocated restrictions on imports and incentives for exports.
X > M T gold inflow, but also few goods and poor consumers
Gold inflow T inflation (more money chasing fewer goods)
Inflation T fewer exports (foreigners search for better bargains), and more imports (nationals search for better bargains abroad.
A nation will import those goods in which it has an absolute cost disadvantage; it will export those goods in which it has an absolute cost advantage.
The less efficient nation should specialize in the proction and export the good in which its absolute disadvantage is smaller (this is the commodity of its comparative advantage) and import the commodity in which its absolute disadvantage is greater (this is the commodity of its comparative disadvantage).
Opportunity cost: the value of the next best alternative foregone as the result of making a decision.
The proction possibility frontier: (or transformation curve) is a curve that shows the alternative combinations of the two goods that a nation can proce by fully utilizing all of its resources with the best technology available to it.
indifference curves, which show the various combinations of two goods that give a consumer the same total level of satisfaction
demonstrating the h-o theorem
the nation differ in that one is relatively labor abundant while the other is relatively capital abundant.
1. a nation will export the commodity whose proction requires the intensive use of the nation's relatively abundant factor and import the commodity whose requires the intensive use of the nation's relatively scarce factor.
2.test method:calculated the amount of labor and capital in a representative bundle's of 1 million dollar worth of U.S. exports and import substitutes for the year 1947.
3.result:U.S.import substitutes were more K-intensive than U.S.exports.
this is called the Leontief paradox.
TATIFF:is a tax levied on procts as they move between nations.
Specific tariff:fixed monetary fee per unit of the proct.
advalorem tariff:levied as a percentage of the value of the proct(much like sales tax).
Compound tariff:a combination of the above,often levied on finished goods whose components are also subject to tariff if imported separately.
The Formula:e=(n-ab)\(1-a)
e:the rate of effective protection to procers of the final commodity.
n:the nominal tariff rate on consumers of the final commodity.
a:the ratio of the cost of the imported input to the price of the final commodity in the absence of tariffs
b:the nominal tariff rate on the imported input
quotas are a restriction on the quantity of a good that may be imported in any one period.
(1).effective of an increase in domestic demand
tariff:an increase in demand will leave the domestic price and domestic proction unchanged but will result in higher consumption and imports than with an equivalent import quota.
quota:an increase in demand will result in a higher domestic price and greater domestic proction than with an equivalent import tariff.
(2)revenue effect
tariff:the government will receive tax revenue/
quota:firms that receive import licenses
3.trade effect
tariff:the trade effect may be uncertain
quota:the trade effect is uncertain.it limits imports to the specified level with certainty.
reason:the shape or elasticity of Dx and Sx is often not known,making it difficult to estimate the import tariff required to restrict imports to desired level.
UR was to change import quotas into tariffs.
4.monopoly and government decesion
lobbying and bribing
seed of corruption
The tariff-rate quota is a two-tiered tariff
impact of an appreciating us dollar
pros:lower prices on foreign goods,keeps inflation down,foreign travel is cheaper
cons:exporters' procts become more expensive abroad,imports-competing firms face price competition,travel more expensive for foreign tourists.
impact of a depreciating us dollar
pros:exporter can sell abroad more easily,less competition for US firms from imports,foreign tourism is encouraged
cons:higher prices on imports,upward pressure on inflation,travel abroad more expensive
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时间：2023-10-18 15:26
