来自《耶鲁大学开放课程：金融市场 第26集 第26集》

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  how to think about a financial crisis recession
  考虑金融危机型经济衰退
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  in the context of a simple macroeconomic model.
  最终变成了语义上的模棱两可
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  Everybody agrees on the movement of three variables in such a recession.
  我们大家都赞同该类经济衰退下
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  Output goes down; q goes down;
  三个变量的变动 即产出和Q值下降
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  and short-term interest rates go down.
  并且短期利率也下降
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  One instinct, which is probably not the first instinct
  在耶鲁大学 大家会本能地反应
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  in the City of New Haven,
  也许不是本能的第一反应
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  is to think of that recession in a traditional ISLM curve,
  把经济衰退用传统的IS-LM曲线来考虑
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  with the IS curve and the LM curve
  即通过由产出水平和短期利率所决定的
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  being plotted in a space determined by the level of output
  IS曲线和LM曲线
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  and the short term interest rate.
  利用平面作图进行表述
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  In that formulation, it is clearly an IS shock.
  在这个公式中 很明显是产品市场[IS]失衡