Real GDP versus Money GDP
(实际 GDP和名义 GDP)
Money GDP/Nominal GDP(名义 GDP)
values the production of goods and
services at current prices(以现价 ).
Real GDP(实际 GDP) values the
production of goods and services at
constant prices(以不变价格 ).
GDP Deflator
The GDP deflator measures the current
level of prices relative to the level of
prices in the base year.
It tells us the rise in nominal GDP that is
attributable to a rise in prices rather
than a rise in the quantities produced,
GDP Deflator (GDP折算指数 )
The GDP deflator is calculated as follows:
If 1998 is the base year for the
GDP deflator
A) Nominal GDP is equal to real GDP in
1998
B) Nominal GDP is greater to real GDP in
1998
C) Nominal GDP is less to real GDP in
1998
D) None of the above
If GDP decreased from 1995 to
1996,then
A) Only prices decreased from 1995 to
1996
B) output decreased from 1995 to 1996
C) It cannot be determined whether output
or prices or both decreased from 1995 to
1996
D) output and prices both must have
decreased from 1995 to 1996
Consider the following data
Year Price of
milk
Output
of milk
price of
honey
Output
of
honey
2001 1 100 2 50
2002 1 200 2 100
2003 2 300 4 100
If 2001 is the base year,calculate nominal GDP,
real GDP and GDP deflator of each year.
What is the growth rate of real GDP between 2002
and 2003?
What is the growth rate of GDP deflator between
2002 and 2003?
Disposable Personal Income
(个人可支配收入 DPI)
Disposable personal income /(DPI)
equals personal income minus
personal taxes and certain nontax
payments.
DPI=PI - T + tr
Inflation(通货膨胀 )
Inflation(通货膨胀 )
Inflation is a rising general level
of prices.
通货膨胀是经济中大多数物品和劳物的物价水平普遍的上涨,
通货膨胀率：从一个时期到另一个时期价格水平变动的百分比。
Measuring inflation
categorize
Causes,theories of inflation
通胀的原因
Demand-pull inflation(需求拉动的通货膨胀 )
Cost-push inflation(成本推动的通货膨胀 )
Effects of inflation
通货膨胀的影响
Percentage change in real income =
percentage change in nominal income
- percentage change in price level
实际收入的变化率 =名义收入的变化率 -
物价水平的变化率 (或减去通货膨胀率 )
1,income effects of inflation
通货膨胀对于收入的影响
1,income effects of inflation
通货膨胀对于收入的影响
1）通货膨胀对于收入的影响：
实际收入不变：名义收入增长率 通货膨胀率
实际收入减少：名义收入增长率 通货膨胀率
实际收入增加：名义收入增长率 通货膨胀率
2）通货膨胀对财富的影响
实物资产：
货币资产：
负资产（负债）：
1,income effects of inflation通货膨胀对于收入的影响
1）通货膨胀对于收入的影响：
实际收入不变：名义收入增长率 = 通货膨胀率
实际收入减少：名义收入增长率＜ 通货膨胀率
实际收入增加：名义收入增长率＞ 通货膨胀率
2）通货膨胀对财富的影响
实物资产：名义价格随通货膨胀同步提高，实际价值不变。
货币资产：名义价格不变，实际价值随通货膨胀降低。
负资产（负债）：名义价格不变，实际价值随通货膨胀降低。
2,Redistributive effects of
inflation通货膨胀的再分配效应
1） Inflation makes against fixed-nominal-
income receivers
不利于依靠固定货币收入维持生活的人群，
如领取救济金、退休金、依靠转移支付和福利支出的人最显著。此外，依靠工资生活的长期被雇佣者，工资变化缓慢。
2） People living on flexible incomes may
benefit from inflation.
依靠变动收入的人，从中收益。其货币收入与通货膨胀同步增长，甚至要早于通货膨胀。
如扩张、工资水平不断上涨的行业，领取短期变动工资的个人。
2,Redistributive effects of
inflation通货膨胀的再分配效应
2,Redistributive effects of
inflation通货膨胀的再分配效应
3） Inflation casts its evil eye on savers.对于储蓄者不利。各种形式的储蓄、存款的实际价值下降。有闲置现金的人损失最大。
4） Debtors(债务人 ) and creditors (债权人 )
牺牲债权人的利益，债务人获利。发行公债的国家，获利丰厚。
2,Redistributive effects of
inflation通货膨胀的再分配效应
4） Debtors(债务人 ) and creditors (债权人 )
牺牲债权人的利益，债务人获利。
发行公债的国家，
属于债务人,获利丰厚。
Case study:
战争筹款的方法,
发展中国家的税收来源有限,增加税收会触动有关的利益集团 。 财政向中央银行借款融资,中央银行增发钞票导致通货膨胀,实际是向所有人普遍征收了一种税收,即通货膨胀税 。
3,Output effects of inflation
通货膨胀的产出效应
(1)Demand-pull inflation
Maybe lead to high levels of output and
employment
(2)Cost-push inflation
Maybe lead to declines in real output and
employment
Anticipated inflation versus
Unanticipated inflation
预料到的通胀和未预料的通胀对经济波动的影响
(实际 GDP和名义 GDP)
Money GDP/Nominal GDP(名义 GDP)
values the production of goods and
services at current prices(以现价 ).
Real GDP(实际 GDP) values the
production of goods and services at
constant prices(以不变价格 ).
GDP Deflator
The GDP deflator measures the current
level of prices relative to the level of
prices in the base year.
It tells us the rise in nominal GDP that is
attributable to a rise in prices rather
than a rise in the quantities produced,
GDP Deflator (GDP折算指数 )
The GDP deflator is calculated as follows:
If 1998 is the base year for the
GDP deflator
A) Nominal GDP is equal to real GDP in
1998
B) Nominal GDP is greater to real GDP in
1998
C) Nominal GDP is less to real GDP in
1998
D) None of the above
If GDP decreased from 1995 to
1996,then
A) Only prices decreased from 1995 to
1996
B) output decreased from 1995 to 1996
C) It cannot be determined whether output
or prices or both decreased from 1995 to
1996
D) output and prices both must have
decreased from 1995 to 1996
Consider the following data
Year Price of
milk
Output
of milk
price of
honey
Output
of
honey
2001 1 100 2 50
2002 1 200 2 100
2003 2 300 4 100
If 2001 is the base year,calculate nominal GDP,
real GDP and GDP deflator of each year.
What is the growth rate of real GDP between 2002
and 2003?
What is the growth rate of GDP deflator between
2002 and 2003?
Disposable Personal Income
(个人可支配收入 DPI)
Disposable personal income /(DPI)
equals personal income minus
personal taxes and certain nontax
payments.
DPI=PI - T + tr
Inflation(通货膨胀 )
Inflation(通货膨胀 )
Inflation is a rising general level
of prices.
通货膨胀是经济中大多数物品和劳物的物价水平普遍的上涨,
通货膨胀率：从一个时期到另一个时期价格水平变动的百分比。
Measuring inflation
categorize
Causes,theories of inflation
通胀的原因
Demand-pull inflation(需求拉动的通货膨胀 )
Cost-push inflation(成本推动的通货膨胀 )
Effects of inflation
通货膨胀的影响
Percentage change in real income =
percentage change in nominal income
- percentage change in price level
实际收入的变化率 =名义收入的变化率 -
物价水平的变化率 (或减去通货膨胀率 )
1,income effects of inflation
通货膨胀对于收入的影响
1,income effects of inflation
通货膨胀对于收入的影响
1）通货膨胀对于收入的影响：
实际收入不变：名义收入增长率 通货膨胀率
实际收入减少：名义收入增长率 通货膨胀率
实际收入增加：名义收入增长率 通货膨胀率
2）通货膨胀对财富的影响
实物资产：
货币资产：
负资产（负债）：
1,income effects of inflation通货膨胀对于收入的影响
1）通货膨胀对于收入的影响：
实际收入不变：名义收入增长率 = 通货膨胀率
实际收入减少：名义收入增长率＜ 通货膨胀率
实际收入增加：名义收入增长率＞ 通货膨胀率
2）通货膨胀对财富的影响
实物资产：名义价格随通货膨胀同步提高，实际价值不变。
货币资产：名义价格不变，实际价值随通货膨胀降低。
负资产（负债）：名义价格不变，实际价值随通货膨胀降低。
2,Redistributive effects of
inflation通货膨胀的再分配效应
1） Inflation makes against fixed-nominal-
income receivers
不利于依靠固定货币收入维持生活的人群，
如领取救济金、退休金、依靠转移支付和福利支出的人最显著。此外，依靠工资生活的长期被雇佣者，工资变化缓慢。
2） People living on flexible incomes may
benefit from inflation.
依靠变动收入的人，从中收益。其货币收入与通货膨胀同步增长，甚至要早于通货膨胀。
如扩张、工资水平不断上涨的行业，领取短期变动工资的个人。
2,Redistributive effects of
inflation通货膨胀的再分配效应
2,Redistributive effects of
inflation通货膨胀的再分配效应
3） Inflation casts its evil eye on savers.对于储蓄者不利。各种形式的储蓄、存款的实际价值下降。有闲置现金的人损失最大。
4） Debtors(债务人 ) and creditors (债权人 )
牺牲债权人的利益，债务人获利。发行公债的国家，获利丰厚。
2,Redistributive effects of
inflation通货膨胀的再分配效应
4） Debtors(债务人 ) and creditors (债权人 )
牺牲债权人的利益，债务人获利。
发行公债的国家，
属于债务人,获利丰厚。
Case study:
战争筹款的方法,
发展中国家的税收来源有限,增加税收会触动有关的利益集团 。 财政向中央银行借款融资,中央银行增发钞票导致通货膨胀,实际是向所有人普遍征收了一种税收,即通货膨胀税 。
3,Output effects of inflation
通货膨胀的产出效应
(1)Demand-pull inflation
Maybe lead to high levels of output and
employment
(2)Cost-push inflation
Maybe lead to declines in real output and
employment
Anticipated inflation versus
Unanticipated inflation
预料到的通胀和未预料的通胀对经济波动的影响
