Cyclical Government Spending and Stabilization under a Balanced Budget Rule

平衡預算法則下的循環性政府支出與均衡動態穩定

曾憲政(Shian-Jang Tzeng)

《人文及社會科學集刊》 25卷1期 (2013/03) Pp. 131-144

摘要

本文引進循環性政府支出至一個單部門的實質景氣循環模型，且系統地檢視財政當局執行「內生調整政府支出（或是內生調整所得稅率）的平衡預算法則」的總體經濟穩定特質。我們發現：循環性政府支出的引進可以穩定體系自我信念驅動的景氣波動。

關鍵字

循環性政府支出 ； 平衡預算法則 ； 局域（非）唯一解 ； 穩定性

並列摘要

This paper introduces cyclical government spending into a one-sector real business cycle model and systemically examines macroeconomic (in)stability under a balanced budget rule with endogenous government spending (or an endogenous income tax rate). I find that cyclical government spending can stabilize the economy against business cycle fluctuations.

並列關鍵字

cyclical government spending ； balanced budget rule ； local (in)determinacy ； stabilization

參考文獻

Alesina, A.,Campante, F. R.,Tabellini, G.(2008).Why Is Fiscal Policy Often Procyclical?.Journal of the European Economic Association.6(5),1006-1036.

Aschauer, D. A.(1989).Is Public Expenditure Productive?.Journal of Monetary Economics.23(2),177-200.

Barro, R. J.(1990).Government Spending in a Simple Model of Endogenous Growth.Journal of Political Economy.98(5),103-125.

Benhabib, J.,Farmer, R. E. A.(1994).Indeterminacy and Increasing Returns.Journal of Economic Theory.63(1),19-41.

Cooley, T. F.,Hansen, G.(1992).Tax Distortions in a Neoclassical Monetary Economy.Journal of Economic Theory.58(2),290-316.