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M makroekonomika

M makroekonomika. leqcia 13 makroekonomikuri politika Ria ekonomikaSi. leqcia 13 – makroekonomikuri politika Ria ekonomikaSi. sagadamxdelo balansi. sagadamxdelo balansi.

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M makroekonomika

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  1. M makroekonomika leqcia 13 makroekonomikuripolitikaRiaekonomikaSi

  2. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi sagadamxdelobalansi sagadamxdelobalansi • sagadamxdelobalansi– gviCvenebsdroisgarkveulSualedSi (CveulebriverTiwlismanZilze) mocemulqveyanasadadanarCenmsofliosSorisganxorcielebuloperaciebs. • sagadamxdelobalansiskreditSiaRniSnuliaoperaciabi, romelicukavSirdebaucxourivalurisSemodinebas. • sagadamxdelobalansidebetSiaRniSnuliaoperaciebi, romelicukavSirdebaucxourivalutisgadinebas. • igiSedgebaSemdegiangariSebisagan:

  3. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi sagadamxdelobalansiscxrili: sagadamxdelobalansi • sagadamxdelobalansi= kapitalismoZraobisangariSs + mimdinareoperaciaTaangariSi( (I-S)+Nx=0 )

  4. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi sagadamxdelobalansidasavalutorezervebi sagadamxdelobalansi • rocaNx > (I-S), maSinqveynissagadamxdelobalansiaqtiuria. esniSnavsrommocemuiqveyanakreditoria.imisaTvisrombalansiaRdgesdanarCenimsoflioscentralurmabankebmaTavianTisavalutorezervebiundaSeamciron – Sedegaderovnulibankissavalutorezervebiizrdeba. • rocaNx < (I-S), maSinqveynissagadamxdelobalansipasiuria. esniSnavsrommocemuliwlisganmavlobaSiqveyanamufrometiucxourivalutagascavidremiiRo. imisaTvisrombalansiaRdgeserovnul banks uwevsrezervebisxarjvadanarCenimsoflioswinaSevaldebulebebisdasafaravad. • qveynissavalutorezervebiscvlilebakapitalimoZraobisangariSisSemadganalinawilia.

  5. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi saqarTvelossagadamxdelobalansi(aTasiaSSdolari) sagadamxdelobalansi

  6. ganasxvavebenoritipissavalutosistemas: fiqsirebulisavalutokursissistema – romelicgulisxmobssaxelmwifoebismxridanvaldebulebisaRebaserTmaneTismimarTvalutiskursisfiqsirebisSesaxeb (koleqtiurimibma) an erTisaxelmwifismxridanTavisvalutiskursisdafiqsirebassxvavalutismimarT (calmxrivimibma). pirvelismagaliTiaevropissavalutosistema 1979-1999 wlebSidaekiusSemoReba. meorismagaliTiabreton-vudissavalutosistema 1944-1971 wlebSidaaSSdolarismimarTsxvaqveunebismiererovnulivalutiskursebisdafiqsireba. dResaczogierTiqveyanaiyenabsfiqsirebulisavalutokursissistemas. mcuravisavalutokursissistema – gacvliTikursebioficialuradarfiqsirdebadaganisazRvrebasavalutobazarzemoTxovnamiwodebismixedviT. dRemsofliosumetesqveyanaSisworedaseTisistemafunqcionirebs. • leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi savalutokursissistemebi savalutokursissistemebi

  7. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi valutiskursiscvlilebasTandakavSirebuliterminebi savalutokursissistemebi • realurikursiszrda – realurigaZvireba; • ralurikursisSemcireba –realurigaufasureba;

  8. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi mandel-flemingismodelis algebra mandel-flemingismodeli • daSvebakapitalismobilurobisSesaxeb; • msofliosaprocentoganakveTi;

  9. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi E=Y mandel-flemingismodeli E E,A i A A Y A2 A1 A2 Y1 Y2 A1 S i LM i1 i* i*=i IS Ca+G e e Y LM(e) S-I e1 e0 IS(e) NX(e) Y NX 0 Y2 Y1

  10. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi e Y fiskaluripolitikamcuravisavalutokursispirobebSi mandel-flemingismodeli • TusaxelmwifozrdisxarjebseserTismxrivgamoiwvevsSidasaprocentoganakveTiszrdas, SidadanazogebisadamaSasadameinvesticiebisSemcirebasdaucxouriinvesticiebiszrdas. SedegadIS(i)daIS(e) mrudebigadaadgildebamarjvniv. meoresmxrivucxourikapitalisSemodinebaiwvevserovnulivalutisgaZvirebas. valutiskursiszrdaiwvevs, qveynisSidafasebisdoniszrdasdanarCenmsofliosTanSedarebiTdaamitom e0 mimdinareoperaciaTaangariSi(NX)uaryofiTixdeba. racamcirebsmSp-s. maSasadamemimdinareoperaciaTaanga-riSisuaryofiTisaldodasaxelmwi-foxarjebiszrdaerTmaneTsakompen-sirebsdaIS(i)mrudiubrundebaTavissawyismdgomareobas. IS(e)aricvleba. ekonomikagadadisufromaRalikursisdawarmoebisdafasebisigivedonispirobebSi. LM(e) e1 Y IS(e) IS(e)

  11. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi E=Y mandel-flemingismodeli E E,A i A A Y A2 A1 A1 A1 Y2 Y1 S i LM fiskaluripolitikamcuravigacvliTikursispirobebSi i1 i* i*=i - NX IS Ca+G LM(e) e e S-I Y e1 e0 IS(e) NX(e) Y NX 0 0 Y1 Y2

  12. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi e Y fiskaluripolitikafiqsirebulisavalutokursispirobebSi mandel-flemingismodeli • TusaxelmwifozrdisxarjebsesgamoiwvevsSidasaprocentoganakveTiszrdasdaIS(i)daIS(e) mrudebigadaadgildebamarjvniv. radganvalutiskursifiqsirebuliadaTukierovnulibankiarzrdisfulismiwodebas, maSinaRmoCndeba, romerovnulibankiufromaRalikursiTyidisucxourvalutasvidreigisavalutobazarzeRirs. amasTan, radganSidasaprocentoganakveTiufromaRaliamsofliosaprocentoganakveTzeadamianebi e* gadawyvetenerovnulaqtivebSifulisdabandebas. amitomspekulaciurimoti-viTgaizrdebamoTxovnaerovnulvalu-tazedaadamianebiucxourvalutasgacvlianerovnulvalutaSi. Sedegaderovnulibankissavalutorezervebigaizrdebaiseverogorcerovnulivalu-tismiwodeba. LM(i)daLM(e) mrudebigada-adgildebamarjvniv. ekonomikagadadiswarmoebisdafasebisufromaRalidonis, pirobebSi. LM(e) LM(e) Y0 IS(e) IS(e) Y1

  13. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi E=Y mandel-flemingismodeli E E,A i A A Y A2 A1 A1 A1 Y2 Y1 S i LM fiskaluripolitikafiqsirebuligacvliTikursispirobebSi i* i*=i IS Ca+G LM(e) e e S-I Y e0 IS(e) NX(e) Y NX 0 0 Y1 Y2

  14. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi e Y monetarulipolitikamcuravisavalutokursispirobebSi mandel-flemingismodeli • erovnulibankismierfulismiwodebiszrdaiwvevsLM(i)daLM(e) mru-debismarjvnivgadaadgilebasdasaprocentoganakveTisSemcirebas. saprocentoganakveTisSemcirebaganapirobebsqveynidankapitalisgadinebas, raciwvevsvlutisgaufasurebas. valutiskursisSemcirebaamcirebsqveynisSidafasebisdonesdanarCenmsofliosTanSedarebiTdaamitommimdinareoperaciaTaangariSi(NX)dadebiTixdeba. rac zrdismSp-s damaSasadameIS(i)mrudigadaadgildebamarjvniv. ekonomika gadadiswarmoebisdafasebisufromaRalidonis, pirobebSi. e0 LM(e) LM(e) Y0 e1 IS(e) Y1

  15. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi E=Y mandel-flemingismodeli E E,A i A A Y A2 A1 A1 A1 Y2 Y1 S i LM + NX monetarulipolitikamcuravigacvliTikursispirobebSi i* i*=i i1 IS Ca+G LM(e) e e S-I Y e0 e1 IS(e) NX(e) Y NX 0 Y1 Y2

  16. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi e Y monetarulipolitikafiqsirebulisavalutokursispirobebSi mandel-flemingismodeli • erovnulibankismierfulismiwodebiszrdaiwvevsLM(i)daLM(e) mru-debismarjvnivgadaadgildebasdasaprocentoganakveTisSemcirebas. saprocentoganakveTisSemcirebaganapirobebsqveynidankapitalisgadinebas, raciwvevsvlutisgaufasurebas. magram, radganerovnulibankismieroficialurigacvliTkursidafiqsirebulia, aRmoCndeba, romervnulibankiucxourvalutasufroiafadyidisvidre is savalutobazarzeRirs. amasTanradgan e* SidasaprocentoganakveTidabaliamsof-liosaprocentoganakveTzeadamianebigadawyvetenucxouraqtivebSifulisdaban-debas. amitomgaizrdebamoTxovnaucxourvalutaze. adamianebimanamdeSeiZenenucxourvalutasvidresaprocentogana-kveTiardaubrundebamsofliosaprocen-to ganakveTisdones, daaraRdgebafulismiwidebissawyisi done. aseTipolitikiserTaderTiSedegiariserovnulibankimiersavalutorezervebiskargva. LM(e) LM(e) Y0 e1 IS(e)

  17. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi E=Y mandel-flemingismodeli E E,A i A A Y A1 A1 A1 Y1 S i LM monetarulipolitikafiqsirebuligacvliTikursispirobebSi i* i*=i IS Ca+G LM(e) e e S-I Y e0 e1 IS(e) NX(e) Y NX 0 Y1

  18. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi e Y savaWropolitikamcuravisavalutokursispirobebSi mandel-flemingismodeli • dauSvaTsaxelmwifoawesebsimportzekvotebsadatarifebs, raczRudavs imports. esgamoiwvevsmocemulikursispirobebSiwmindaeqsportiszedasdaNX(e)mrudimarjvnivgadaadgildeba. SedegadgaizrdebamoTxovnaerovnulvalutaze(radganerovnuliproduqtikonkurentulupiratesobasmoipovebs) daerovnulivalutiskursigaizrdeba. IS(e)mrudimarjvnivgadaad- • gildeba. Sedegadwarmoebismoculoba • arSeicvleba. e0 LM(e) e1 Y IS(e) IS(e)

  19. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi E=Y mandel-flemingismodeli E E,A i A A Y A1 A1 A1 Y1 S i LM sagareosavaWropolitikamcuravigacvliTikursispirobebSi i* i*=i IS Ca+G LM(e) e e S-I Y e1 e0 IS(e) NX(e) Y NX 0 Y1

  20. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi e Y savaWropolitikafiqsirebulisavalutokursispirobebSi mandel-flemingismodeli • dauSvaTsaxelmwifoawesebsimportzekvotebsadatarifebs, raczRudavs imports. esgamoiwvevsmocemulikursispirobebSiwmindaeqsportiszedasdaNX(e)mrudimarjvnivgadaadgildeba, raciwvevsvalutiskursisamaRlebas. kursisSenarCunebisaTviserovnulibankizrdiserovnulivalutismiwodebas. LM(i)daLM(e) mrudebigadaadgil-debamarjvniv. SemcirdebaSidasaprocentoganakveTi. Sida saprocentoganakveTisSemcirebagamoiw-vevskapitalisgadinebas. ucxoeTSierov-nulivalutismiwodebaamcirebserovnu-livalutiskurss, raciwvevssamamuloproduqtisgaiafebasucxourproduqt-Tan SedarebiT, Sedegadizrdebawmindaeqsporti. wmindaeqsportiszrdazrdismSp-s daIS(i) mrudimarjvnivgadaadgil-deba. SidadagarebazariwonasworobaSimodis. e* LM(e) LM(e) e1 Y0 IS(e) IS(e) Y1

  21. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi E=Y mandel-flemingismodeli E E,A i A A Y A2 A1 A1 A1 Y2 Y1 S i LM + NX sagareosavaWropolitikafiqsirebuligacvliTikursispirobebSi i* i*=i i1 IS Ca+G LM(e) e e S-I Y e1 e0 IS(e) NX(e) Y NX 0 Y1 Y2

  22. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi makroekonomikuripolitikisSedegebimcireRiaekonomikisaTviskapitalismobilurobispirobebSi: mandel-flemingismodeli

  23. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi politikisarCevnisproblemamcireRiaekonomikaSi mandel-flemingismodeli e≠0 e=0 Y Y π π Y Y 0 0 π π 0 0

  24. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi savalutogaerTianebadasavalutosabWo savalutogaerTianeba • savalutogaerTianeba– esarisfiqsirebulisavalutosistemiserTerTisaxesxvaoba. savalutogaerTianebiswevrebiTanxmdebianerTianivalutisdaerTianicentraluribankisSeqmnisSesaxeb. amismagaliTiaaSS-Si XIX saukuneSi, rocamoxdaaSS 13 StatissakuTarivalutebisgacvlisdaerTianivalutisSemoRebisSesaxebSeTanxmeba; evrokavSiri, rodesac 1999 welsevrokavSirisqveynebmaSemoiReserTianivaluta – evro. • savalutokavSirSigaerTianebasoriefeqtiaxlavs: • monetaruliefeqtissargebeli; • ekonomikuristabilurobisdanakargebi; • savalutosabWo– gulisxmobsucxourivalutismimarTkursiscalmxrivaddafiqsirebas. aseTqveynebSifulismiwodebaucxourisavalutorezervebitganisazRvreba. MisimagaliTiaargentina, romelisvalutacaSSdolarzeamibmuli.

  25. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi monetaruliefeqtissargebeli savalutogaerTianeba • monetariliefeqtissargebeli – magaliTadlarisevrosTanmibmisasizrdebamonetarulisargebeli: • radgangacvliTikursisfiqsirebaxelsuwyobsqveynebsSorisinvesticiebisdasaqonlisadamomsaxurebismoZraobas (fiqsirebulikursisdrosadvilixdebaSemosavlisprognozireba); • qveyanasSesaZleblobaeZlevaevrozonidanantiinflaciuriRonisziebebisimportis; • TuevrozonisfasebisdonisstabilurobadawinaswariganWvretadobaaraxasiaTebs, maSinqveyanaveriRebsmonetarulsargebelsaevrozonasTanmierTebiT;

  26. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi ekonomikuristabilurobisdanakargi savalutogaerTianeba • ekonomikuristabilurobisdanakargi– magaliTadlarisevrosTanmibmisasqveyanakargavsmonetaruliinstrumentisgamoyenebisSesaZleblobaswarmoebisdadasaqmebisstabilizaciisaTvis: • TulariariqnebodamibmulievrozedaevrokavSiriSeamcirebdamoTxovnasqarTulproduqtzemaSingacvliTikursisSemcirebisxarjzeavtomaturadmoxdebodaekonomikisstabilizacia; • TuevrokavSirTansavaWrointegraciamaRaliaesuzrunvelyofsqarTulproduqciisimportiszrdasdadasaqmebiszrdas; agreTvekepitalisTavisufalgadadinebasdaTuevrokavSirSimaRalisaprocentoganakveTia, maSinSidakapitalssaSualebaaqvsmaRalprocentianidatvirTvaSeiZinos; aiolebsSromiTmigracias;

  27. leqcia 13 –makroekonomikuripolitikaRiaekonomikaSi ZiriTadicnebebi • sagadamxdelobalansi • mimdinareoperaciebisangariSi • kapitalismoZraobisangariSi • savalutorezervebi • fiqsirebulisavalutokursissistema • mcuravisavalutokursissistema • mandel-flemingismodeli • valutisgaZvireba • valutisgaufasureba • devalvacia • revalvacia • realurigaZvireba • realurigaufasureba • savalutogaerTianeba • monetaruliefeqtissargebeli • ekonomikuristabilurobisdanakargi

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