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# 经济代写|宏观经济学代考Macroeconomics代写|ECON6040 Objectives

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## 经济代写|宏观经济学代考Macroeconomics代写|Objectives

1. To learn what monetary sterilization is, how it operates, and why it is sometimes used.
2. The unique operation of monetary sterilization in China is studied.
3. The accounting entries to a central bank’s balance sheet that sterilizes is presented.

The topic of currency manipulation is one that has come up repeatedly over the past many years, particularly among discussions and commentaries about the relationship between China and the United States. As we can see in the following chart (Figure 7.1), China has often sought to fix their exchange rate. We see this strongly in the period of 1994-2005, where the ChinaUnited States exchange rate does not move at all. China then relaxed their hold on the exchange rate until 2014, and since then have since loosely kept their exchange rate within a certain range.

This chapter is about monetary sterilization, a practice that is largely unknown to most people, yet has been actively implemented in China in recent decades. This probably hurts the rest of the developed world and could eventually damage China itself.

There is disagreement as to the real impact of monetary intervention, largely due to a lack of fundamental understanding, and it should be pointed out that China is not alone in carrying on forms of this practice. Currency intervention has been used by many countries, including the United States, Korea, Japan, Switzerland, and others who reportedly use forms of it today in an attempt to manage the value of their currency in the foreign exchange markets. So, why do we care so much about China’s practice and its impact on the world? Well, partly due to the size of China’s economy. But primarily because it appears to give them an undue advantage with regard to trade. And when one of the largest economies in the world operates this way, the impact is far reaching. Given the ever-growing amounts of Chinese exports that countries seek, the practice could be particularly punitive to exporters in the rest of the world.

## 经济代写|宏观经济学代考Macroeconomics代写|Comparative advantage and foreign competition

The economic law of comparative advantage helps explain what happened. In a nutshell, it is very simply this: there are two countries, and each produces two goods. Relatively speaking, country 1 is more efficient at making good A than good B, and country 2 is more efficient at making good B than good A. The theory of comparative advantage shows that both countries are better off if country 1 produces good $\mathrm{A}$ and country 2 produces good $\mathrm{B}$, and then they trade, with each country benefitting from the other’s specialization. It is important to note that this theory holds true even if one of the countries can produce both goods at less cost than the other country in absolute terms (known as absolute advantage).

To see the difference between comparative and absolute advantage in a simpler and more microeconomic way, consider this example. There are two neighbors who live next door to each other: one house has a family that includes a 15-year-old boy, and the other house is lived in and owned by Serena Williams. Serena Williams is a physically gifted individual and is arguably one of the greatest athletes of all time across any sport. Next, consider the time it takes them to cut the grass: Serena Williams could mow her lawn much faster and easier than the teenage boy could. Therefore, she has the absolute advantage when it comes to yard work.

# 宏观经济学代写

## 经济代写|宏观经济学代考Macroeconomics代写|Objectives

1. 了解什么是货币对冲，它是如何运作的，以及为什么有时会使用它。
2. 研究了中国独特的货币对冲操作。
3. 提供了对中央银行资产负债表进行消减的会计分录。

## 经济代写|宏观经济学代考Macroeconomics代写|Comparative advantage and foreign competition

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## MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。