储备率、铸币收益与经济增长

Reserve Ratio,Seigniorage and Economic Growth

本文考察了储备需求所增加的铸币收益在货币内生增长模型中的增长效应 .假设政府把铸币收益用在教育和公共生产性开支且对私人厂商有正的外部性 .用两部门内生增长模型分析因储备需求带来的增长效用 ,该经济有唯一的均衡增长路径 ,政府开支存在最优配置 ,且通过数据模拟存在最优储备率 .同样也得了与 [1 ]相类似的结论 :储备率与经济增长率的Laffer曲线关系 .

A monetary endogenous growth model is well developed by taking into account the growth-enhancing effects of reserve-augmenting seigniorage.The government spends all the seigniorage revenue on the provision of a public productiove input and education sector.The economy has an unique balanced growth path in a two-sector model of endogenous growth.In addition,the model admits a best government spending allocation.Meanwhile,a best reserve ratio is obtained by data simulation.The growth effect of an increase in ...