本文關(guān)鍵詞：家庭借貸約束、勞動市場摩擦與政府支出乘數(shù)——對政府支出乘數(shù)困境的一個新解釋　出處：《世界經(jīng)濟文匯》2017年04期 　論文類型：期刊論文

  更多相關(guān)文章： 家庭借貸約束 勞動市場摩擦 政府支出乘數(shù) 動態(tài)隨機一般均衡模型

【摘要】：本文利用2005—2015年的季度數(shù)據(jù),構(gòu)建一個包含家庭借貸約束和勞動市場摩擦的動態(tài)隨機一般均衡模型,考察家庭借貸約束和勞動市場摩擦對政府支出乘數(shù)的影響。實證結(jié)果表明:(1)家庭借貸行為對政府支出沖擊的動態(tài)效應(yīng)具有重要影響,忽視家庭借貸行為會導(dǎo)致政府支出乘數(shù)的絕對值偏小,但不會改變乘數(shù)方向。(2)對設(shè)定的不同情形進行比較后發(fā)現(xiàn),家庭借貸約束和勞動市場摩擦處于"雙低"情形時政府支出乘數(shù)最大,其處于"雙高"情形時政府支出乘數(shù)最小。(3)高勞動市場摩擦經(jīng)濟體中家庭借貸約束變動對政府支出乘數(shù)的影響程度要遠高于低勞動市場摩擦經(jīng)濟體。因此,政府應(yīng)從完善消費金融制度、保持家庭債務(wù)可持續(xù)增長、加大勞動力市場信息披露以及降低就業(yè)摩擦等方面入手,在一定程度上擴大政府支出乘數(shù)效應(yīng),以期擺脫政府支出乘數(shù)困境。
[Abstract]:Based on the quarterly data from 2005 to 2015, this paper constructs a dynamic stochastic general equilibrium model which includes household lending constraints and labor market friction. The empirical results show that the household borrowing behavior has an important impact on the dynamic effect of government expenditure impact. Neglect of household lending behavior will lead to small absolute value of government expenditure multiplier, but will not change the direction of multiplier. When household lending constraints and labor market frictions are "double low", the multiplier of government expenditure is the largest. In the case of "double high", the multiplier of government expenditure is minimum. Changes in household lending constraints have a much higher impact on government spending multipliers in high-labour-market friction economies than in low-labour-market frictional economies. The government should improve the consumer financial system, maintain the sustainable growth of household debt, increase the information disclosure of the labor market and reduce the employment friction, so as to expand the multiplier effect of government expenditure to a certain extent. In order to get rid of the dilemma of government expenditure multiplier.
【作者單位】： 湘潭大學(xué)商學(xué)院;
【基金】：國家社會科學(xué)基金項目“我國家庭債務(wù)增長的經(jīng)濟社會效應(yīng)與可持續(xù)性研究”(14BJL029)的資助
【分類號】：F249.2;F812.45;F832.4
【正文快照】： 一、引言政府支出政策作為國家調(diào)控經(jīng)濟的重要工具之一,其政策實施的有效性問題歷年來都是各國政府和學(xué)者重點關(guān)注的問題。但進入21世紀,尤其是2008年次貸危機和2011年歐洲主權(quán)債務(wù)危機以來,面對世界經(jīng)濟發(fā)展跌宕起伏的局面,世界各主要國家的財政狀況因過度增支和債務(wù)積累而日，

本文編號：1431068