6
Lo prghoor LV OP
614 Rjjhwwr gho fdslwror
Qho prghoor jol lqyhvwlphqwl glshqgrqr gdo wdvvr ghoo*lqwhuhvvh
LV
OP
h gdo olyhoor gho uhgglwr1 O*htxloleulr vxo phufdwr ghl ehql qrq glshqgh
shuflõ slü vrowdqwr gdo olyhoor gho uhgglwr +frph qho prghoor uhgglwr0
vshvd, pd dqfkh gd txhoor gho wdvvr g*lqwhuhvvh1 Lq txhvwr prgr vl
jhqhud od vfkhgd LV1
Dqfkh qho phufdwr ghood prqhwd o*htxloleulr glshqgh vld gdo olyhoor
gho uhgglwr fkh gdo wdvvr g*lqwhuhvvh1 Od uhod}lrqh fkh frvï vl jhqhud
frvwlwxlvfh od vfkhgd 1
OP
O*htxloleulr pdfurhfrqrplfr ë gdwr gdood frssld gl ydorul gl wdvvr g*lq0
whuhvvh h uhgglwr fkh vrgglvid vld od fkh od 1
LV OP
615 Od ixq}lrqh ghoo*lqyhvwlphqwr
Qho prghoor / frph qho prghoor uhgglwr0vshvd/ lo olyhoor ghl suh}}l ë
LV OP
vxssrvwr frvwdqwh h o*dqdolvl ë olplwdwd do euhyh shulrgr1 Wxwwdyld/ d glhuhq}d
gho prghoor uhgglwr0vshvd/ qho prghoor od vshvd shu lqyhvwlphqwl/
LV OP L/
glshqgh gdo wdvvr g*lqwhuhvvh/ h gdo olyhoor ghood surgx}lrqh/ Vxssruuhpr
l/ \=
fkh lo olyhoor ghood surgx}lrqh frlqflgd frq oh yhqglwh/ dvvxphuhpr flrë
\
fkh wxwwr flõ fkh ylhqh surgrwwr ë ghvwlqdwr dood yhqglwd vlffkì qrq yl ë
lqyhvwlphqwr lq vfruwh1 Shuflõ/ frq lqwhqghuhpr vld surgx}lrqh fkh yhqglwh1
\
Shu frpsuhqghuh shufkì od vshvd shu lqyhvwlphqwl glshqgh gd txhvwh gxh
yduldelol/ suhqgldpr lq frqvlghud}lrqh oh ghflvlrql g*lqyhvwlphqwr gd sduwh
ghood vlqjrod lpsuhvd1 Od vshvd shu lqyhvwlphqwl yhuuã hhwwxdwd qr do sxq0
wr lq fxl ulvxowd surwwhyroh o*dftxlvwr gl ph}}l gl surgx}lrqh dggl}lrqdol/
glfldpr gl xqd pdffklqd lq slü1 Shu fdofroduh txhvwr sxqwr/ surfhgldpr lq
txhvwr prgr1
Fdofroldpr gdssulpd shu rjql pdffklqd dggl}lrqdoh txdqwr txhvwd pdf0
fklqd uhqghuã xqd yrowd lpphvvd qho surfhvvr surgxwwlyr do qhwwr ghl frvwl
4
5 fds16 0 lo prghoor lv0op
wdehood 614
Hvhpslr gl fdofror gho wdvvr gl uhqglphqwr gl xqd pdffklqd
Frvwr gl xqd pdffklqd djjlxqwlyd / 8
S
N
Ulfdyl dggl}lrqdol dwwhvl 43
E f
Frvwl qhfhvvdul do ixq}lrqdphqwr ghood pdffklqd 71:
Surwwr dwwhvr dggl}lrqdoh/ +f 816
e=.,
Wdvvr gl surwwr/ +ED= 9(
p D28,
qhfhvvdul do vxr ixq}lrqdphqwr1 Lqglfkldpr txhvwr surwwr qhwwr dwwhvr frq
ë xq surwwr shufkì od pdffklqd hqwuhuã lq ixq}lrqh vror qho
1 dwwhvr
shulrgr vxffhvvlyr> yl vrqr prowl prgl shu jlxvwlfduh txhvwd lsrwhvl= txhoor
slü iuhtxhqwhphqwh dggrwwr ë fkh l ehql gl lqyhvwlphqwr ulfklhgrqr xq whpsr
slxwwrvwr oxqjr shu hvvhuh frvwuxlwl1 Qh ghulyd fkh o*lpsuhvd qrq frqrvfh lo
suh}}r d fxl srwuã yhqghuh lo pdjjlru surgrwwr rwwhqxwr gdoo*lpslhjr ghood
pdffklqd h ghyh irqgduh txhvwr fdofror vxooh vxh dvshwwdwlyh uljxdugdqwl lo
suh}}r ixwxur1 Rowuh fkh glshqghuh gdooh dwwhvh gl suh}}r/ vl qrwl fkh/ shu
txdqwr deeldpr dsshqd ghwwr/ glshqgh sxuh gdo olyhoor gl surgrwwr/ h shu0
flõ gdooh yhqglwh1 Shu ulfrugdufl gl txhvwd glshqghq}d ixq}lrqdoh/ vfulyhuhpr
E\ =
Olplwldprfl shu rud d looxvwuduh oh ghflvlrql gl lqyhvwlphqwr lq xq fdvr
vhpsolfh1 Vxssrqldpr fkh od pdffklqd gxul xq vror dqqr h fkh deeld xq
frvwr sdul d 1 Lo wdvvr gl surwwr ghood pdffklqd/ fkh lqglfkhuhpr frq
S p/
N
ë doorud gdwr gd E\ S
+614,
p ' N
S
N
Od wdehood 614 prvwud xq hvhpslr gl fdofror gl h lq fxl lo suh}}r
E\ p/
dwwhvr ë sdul d 4 h od txdqwlwã surgrwwd ë \ ' f1
Lo fdofror gl qrq ë wxwwdyld vx!flhqwh d vdshuh vh o*lqyhvwlphqwr ë
p
frqyhqlhqwh rssxuh qr1 O*lpsuhvd ghyh sruuh d frqiurqwr frq lo frvwr
p
rssruwxqlwã ghood vrppd gl ghqdur qhfhvvduld doo*lqyhvwlphqwr +txhvwr ë yhur
dqfkh qho fdvr lq fxl o*lpsuhvd jlã glvsrqjd gl txhvwd vrppd,/ rvvld frq lo
wdvvr g*lqwhuhvvh/ Vrowdqwr vh o*lqyhvwlphqwr ë frqyhqlhqwh +qho
l1 p A l/
fdvr ghood wdehood/ o*lqyhvwlphqwr vduheeh frqyhqlhqwh vh/ shu hvhpslr/ l '
Jxdugdqgr d txhvw*xowlpd glvxjxdjoldq}d/ srvvldpr frqfoxghuh fkh
DI,1
od frqyhqlhq}d ghoo*lqyhvwlphqwr ë wdqwr pdjjlruh= txdqwr pdjjlruh ë 0
\
shufkì doo*dxphqwduh ghooh yhqglwh dxphqwdqr l surwwl h shuflõ txdqwr
p(
plqruh ë 0 shufkì ulvxowd plqruh lo frvwr rssruwxqlwã1
l
Txhvwd glvfxvvlrqh vxood frqyhqlhq}d ghjol lqyhvwlphqwl dyuheeh srwxwr
6
h1 vdowdul 0 glvshqvh gl pdfurhfrqrpld 0 fds16
hvvhuh frqgrwwd lq dowur prgr1 Deeldpr dsshqd ghwwr fkh o*lqyhvwlphqwr ë
frqyhqlhqwh vh pAl
Vrvwlwxhqgr d od vxd ghql}lrqh/ vl kd
p E\ S
Al
N
S
N
ryyhur E\ A S
n l N
O*lqyhvwlphqwr ë frqyhqlhqwh vh lo ydoruh dwwxdoh ghl surwwl fkh ghulydqr gd
txhvwr lqyhvwlphqwr ë pdjjlruh gho frvwr ghoo*lqyhvwlphqwr1 Shufkì greeld0
pr fdofroduh lo ydoruh dwwxdoh ghl surwwl sulpd gl srwhuol frqiurqwduh frq lo
frvwr ghood pdffklqdB Shufkì/ gdwr lo whpsr gl frvwux}lrqh ghood pdffklqd/ l
surwwl srwudqqr hvvhuh shufhslwl vror grpdql phqwuh lo frvwr g*dftxlvwr ghood
pdffklqd ylhqh vrvwhqxwr rjjl1
Oh frqfoxvlrql fkh srvvldpr wuduuh gd txhvwr glyhuvr prgr gl udjlrqduh
vrqr wxwwdyld lq wxwwr lghqwlfkh d txhooh jlã ghwwh1 O*lqyhvwlphqwr ulvxowhuã
wdqwr slü frqyhqlhqwh txdqwr pdjjlruh h plqruh Vh dvvxpldpr fkh od
\ l=
glshqghq}d ghoo*lqyhvwlphqwr gd txhvwh gxh yduldelol vld olqhduh/ srvvldpr
L
vfulyhuh +615,
L ' L n g \ g l
2
gryh udssuhvhqwd frph qho fdslwror suhfhghqwh o*lqyhvwlphqwr hvrjhqr/ h
L g
h vrqr ghl frh!flhqwl srvlwlyl fkh gdqqr frqwr ghood uhdwwlylwã ghoo*lqyh0
g
2
vwlphqwr do uhgglwr h do wdvvr gl lqwhuhvvh1
616 Od fxuyd LV
Frq o*lqwurgx}lrqh ghood ixq}lrqh ghjol lqyhvwlphqwl/ od +615,/ od srvl}lrqh
gl htxloleulr gho vlvwhpd hfrqrplfr sxõ hvvhuh udssuhvhqwdwd gdo vhjxhqwh
vlvwhpd gl htxd}lrql= ; \ ' ]
A
A
A
? ] ' F n L n J
F ' f n f E\ W
A
A
A f
= L ' L n g \ g l
2
7 fds16 0 lo prghoor lv0op
Frqwlqxldpr dg dvvxphuh h hvrjhqh1 Vrvwlwxhqgr h qhood sulpd
J W F L
htxd}lrqh/ rwwhqldpr
\ ' f n f E\ W n L n g \ g l n J
f 2
' D n Ef n g \ g l
2
gryh ë od vshvd dxwrqrpd= Ulvroyhqgr ulvshwwr do
D ' f n L n J f W
f
surgrwwr vl kd
\> +616,
\ ' ED g l ' ED g l
Ef n g
2 2
lq fxl udssuhvhqwd od surshqvlrqh pdujlqdoh dood vshvd fkh dvvxphuhpr
f ng
hvvhuh plqruh ghoo*xqlwã/ h O*htxd}lrqh +616,
f n g ? > ' =
3Ef ng
ë o*hvsuhvvlrqh irupdoh ghood vfkhgd Gdo prgr lq fxl ë vwdwd ghulydwd
LV1
ë fkldur fkh hvvd udssuhvhqwd lo oxrjr ghooh frpelqd}lrql gl uhgglwr h wdvvr
g*lqwhuhvvh shu fxl vl kd htxloleulr/ ryyhur xjxdjoldq}d wud grpdqgd djjuhjdwd
h rhuwd djjuhjdwd vxo phufdwr ghl ehql1
D sursrvlwr ghood srvvldpr srufl oh vhjxhqwl grpdqgh1
LV LV
Gd fkh frvd glshqgh od shqghq}d ghood
Shu ulfdyduh od shqghq}d ghood vfkhgd idffldpr ydulduh h pdqwhqhqgr
LV> \ l
frvwdqwh +{D
D ' f,= {\ ' {l
g
2
Shuflõ od shqghq}d ghood ë gdwd gd
LV
gl
+617,
' ? f
g\ g
2
LV
+Od shqghq}d ghood ylhqh udssuhvhqwdwd frph ghulydwd gho wdvvr gl lqwh0
LV
uhvvh ulvshwwr do uhgglwr shufkì/ frph ulvxowd dqfkh gdood jxud 614/ ylhqh
vhjxlwd od frqvxhwd frqyhq}lrqh fkh yxroh fkh lo suh}}r 0 lq txhvwr fdvr 0
l
yhqjd srvwr vxooh ruglqdwh phqwuh od txdqwlwã 0 txl 0 vxooh dvflvvh1,
\
Od ë qhjdwlydphqwh lqfolqdwd shufkì xq dxphqwr gho wdvvr g*lqwhuhvvh
LV
ulgxfh jol lqyhvwlphqwl h/ wudplwh lo prowlsolfdwruh / l
-
Politica economica, Modello IS-LM, economia aperta
-
Modello IS-LM - istituzioni di economia politica
-
Politica economica, Modello IS*- LM*, modello Mudell-Fleming economia aperta
-
Economia finanziaria - la politica monetaria e fiscale