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

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。

"This paper introduces cyclical government spending into a one-sector realbusiness cycle model and systemically examines macroeconomic (in)stabilityunder a balanced budget rule with endogenous government spending (or anendogenous income tax rate). I find that cyclical government spending can stabilizethe economy against business cycle fluctuations.