Page 179 - DECO402_MACROECONOMIC_THEORY_PUNJABI

iekweI-18: AweI eys-eyl eym ivSlySx

(Hicks-Hansen Synthesis) ikhw jWdw hY[IS Aqy LM v`kr dy sMquln dw Bwv hY mudrw dI mMg Aqy puriq dy È؇
iv`c smwnqw Aqy bcq Aqy invyS dy iv`c smwnqw rwhIN sMquln ibAwz dI dr Aqy vwsqivk GDP dy sMquln
p`Dr qy inrDwrx[ibAwj dy inrDwrx dw ieh idRStIkox ibAwj dr inrDwrx dw AwDuink isDWq khwauNdw
hY[ vrqmwn AiDAwey ieh ivAwiKAw krdw hY ik AweI es Aqy el em (IS-LM) v`kr iks qrW ivXuqpn
(Derive) kIqy jWdy hn Aqy sMquilq vwsqivk GDP Aqy ibAwj dI dr dw inrDwrx iks qrW huMdw hY[iesdy
Alwvw AweI es- el em ivSlySx qo AsIN smgr mMg vk`r (Aggregate Demand Curve) vI ivXuqpn
krdy hW Aqy ies g`l qy iDAwn dyvWgy ik AweI es Aqy el em iv`c iKskwv (Shift) smgr mMg vk`r iv`c
iKskwv ikdW ilAwauNdw hY[

È؇√ ਵਿਆਜ ਦੀ ਦਰ invyS ਦੇ ਪੱਧਰ ਨੂੰ ਪ੍ਰਭਾਿਵਤ ਕਰਦੀ ਹੈ ।

18.1 IS vkr Aqy iesdI ivXuqpiq (aqpwd bwjwr sMquln)
(IS Curve and its Derivation (Product Market Equilibrium)

IS vk`r ivAwz dI dr Aqy vwsqivk GDP dy aus sMXog nUM pRkt krdw hY jo b`cq (S) Aqy invyS (I) dy iv`c
smwnqw sQwipq krdw hY[ ilpsI Aqy ik@stl dy Anuswr “IS vk`r ibAwz dI dr Aqy vwsqivk GDP dw
sNXojn ibMdu hY jo ieC`q Krc Aqy aqpwd Aqy kSrx Aqy smwvyS smwnqw dI iekrUpqw hY[ ieh srkwrI Krc,
inirXwq, Aqy svcwilq apBog Aqy idq`IAW hoieAW kr drW Aqy id`qy hoey kImq pD`r dy mu`lW dy leI iK`cIAw
jWdw hY[” (The IS curve is the locus of interest rate and level of GDP that are consistent with
equality between desired spending and output, or what is the same thing, injection and leakages.
It is drawn for given values of government spending, exports, and autonomous consumption as
well as for given tax rates and a given price level. – Lipsey and Chrystal)[ ies leI IS vk`r Aqy
IS Pln vsqu bwjwr sMquln dw sMkyq idMdw hY[
IS v`kr dI ivXupiq iv`c do AvsQwvW AwauNidAW hn[ pihlI AvsQw iv`c invyS Aqy ibAwz dI dr iv`c sMbD
invyS mMg Pln (Investment Demand Function) rwhIN sQwipq huMdw hY Aqy dusrI AvsQw iv`c AsIN ieh
ivAwiKAw krWgy ik invyS Krc iv`c pirvrqn iks qrW vwsqivk GDP nUM pRBwivq krdw hY[ibAwj dI dr
Aqy vwsqivk GDP nUM joV ky vsqu bwjwr iv`c AsIN sMquln sQwipq krWgy[
I. invyS mMg Pln (The Investment Demand Function)
ibAwj dr (r) Aqy invyS (I) iv`c sMbD (Relationship between r and I)
iesdw Bwv invyS Aqy ibAwj dI dr dy iv`c ivpirq sMbD hY[ ibAwj dI aucI dr qy, invyS dI vWiCq dr G`t
Aqy ibAwj dI inclI dr qy, invyS dI vWiCq dr v`D hovygI[ invyS Aqy ibAwj dI dr dy iv`c kwirAwqmk
sMbD hyT pRkwr iliKAw jw skdw hY:
I = I – br, b > 0
a
[ijQy I: invyS: I svwXq invyS; r: ibAwj dI dr; b: ibAwj dI dr iv`c invyS Krc dI AnuikRXwSIl
a
(Responsiveness)]
auqy invyS Pln pyS kIqw igAw hY ik ibAwj dI incI dr dw Bwv hY v`D invyS Aqy ies dy ault vI shI hY
(Vice-Versa)[
icqr 18.1 iv`c, II invyS mMg vkr hY jyVw invyS Aqy ibAwj dI dr dy iv`c irxwqmk sMbD ƒ pYdw krdw
1
hY[ ibAwj dI G`t dr Or qy, invyS Krc OI hY Aqy au``cI ibAwj dr Or qy invyS Krc OI hY[ jykr invyS
1 0

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