Macroeconomic Essentials - Essentials of macroeconomic accounting - The government budget and the balance of payments
14 important questions on Macroeconomic Essentials - Essentials of macroeconomic accounting - The government budget and the balance of payments
What is the government budget?
What is a countries balance of payments?
Governments have an extra option for running in debt compared to individuals; what is this option?
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The government budget change can be divided in two categories, give this mathematical expression:
Where BPS is the Government debt owed to the private sector
What does the current account measure?
What does the capital account measure?
What does the official reserve measure?
If RES denotes the reserves of the central bank in foreign currency, what does OR measure? give the mathematical expression
OR = -ΔRES
When the central bank of europe sells one million dollars in exchange of euros, will OR be positive or negative?
How is F, net foreign assets, defined?
If F denotes the net foreign assets, what does the capital account measure? Give the mathematical formula
CP = -ΔF
If F denotes the net foreign assets and RES the central banks reserves of foreign currency, how can EX-IM also be equated?
How is the equation EX - IM = ΔF + ΔRES a proof of CA + CP + RES = 0?
CP = -ΔF
OR = -ΔRES
Hence,
CA + CP + RES = EX - IM - ΔF - ΔRES = ΔF - ΔF + ΔRES - ΔRES = 0
How are BCB , RES and M related mathematically?
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