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課程名稱︰國際金融
課程性質︰經濟系大四必修
課程教師︰曹添旺
開課學院：社科院
開課系所︰經濟系
考試日期（年月日）︰2007/06/14
考試時限（分鐘）：180分鐘
是否需發放獎勵金：yes
（如未明確表示，則不予發放）
試題 :
1. Given the following simple keynesian model: (30%)
E=C + I + G + X-M I=130 C=55 + 0.85Y_d G=220 Y_d= Y-T X=88
T=0.2Y M=10 + 0.1Y_d Y=E in equilibrium
a.) determine the equilibrium level of income
b.) when the equilibrium income level is attained , is there a
surplus or a deficit in the current account ? of how much ?
c.)In this model , how much would income have to change inorder to make X=M
(with no change in X)? how much change in autonomous government expenditure
would be necessary to generate this change in income ?
d.) In this model ,how much would autonomous exports have to change in order
to produce an equilibrium income level at which the current account was in
balance?
e.)If the government want to increase the taxation base , T=0.25Y determine
the new equilibrium level of income
2. compute the ratio of the internal baalance line YY , to the slope of the
external balance line , BB: (20%)
- -
(ΔE /ΔG)|Y=Y
_______________
-
(ΔE /ΔG)|TB=0
how is the ratio relevant to Mundell's principle of " effective market
classification " ? If | slopeYY | < | slopeBB | , which rule be stable
equilibrium ? (Illustration by graph)
Note: Rule I (G--->YY , E--->BB ) ; Rule II (G--->BB , E--->YY )
3. For a large country : the two-country keynesian model (20%)
In the domestic country :
- - - - -
Y= C + I + G + X-M where X= X + m*Y* , C = C + cY , M = M + mY , s=(1-c)
In the foreign country :
- - - - -
Y*= C* + I* + G* + X*-M* where C* = C* + c*Y* , X*=M + mY , M*=X + m*Y*
s*=(1-c*)
a.) determine the equilibrium domestic and foreign incomes : Y and Y*
- - -
b.) solve the multipliers for ΔY/ΔG* , ΔY*/ΔG* , ΔTB /ΔG*
4. Purchasing power paruty (PPP) can be wriyyen as CPI=E(CPI*) :(30%)
a.) If PPP holds , what is the value of tje real exchange rate ?
b.) Assume the PPP holds , what is the rate of change of the domestic price
level when the foreign inflation rate is 2.5 percent per year and
the domestic currency is depreciating at 7.5 percent per year?
c.) Assume the PPP holds , desired money balances can be written as:
M_d = KPY , the parameter K measures the sensitivity of desired
money balance to nominal income . Denotes propotional to the current gap
between desired money stock and actual money stock:
H = δ( M_d - M ) , where δ the sensitivity of the balance of payments
to the excess demand of money , and M denotes money supply . In each of
the following cases ,what is the (short-run) effect on the balance of payments?
Assume the real GDP is initially $ 150 billion
c.1 the central bank decreases domestic credit by $ 1 billion
c.2 domestic real GDP grows by 1.5 percent
c.3 the country devalues its currency by 2 percent
d.) to explain the difference between PPP and the law of one price .
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