政府花费与随机内生增长模型

Government expenditure and stochastic endogenous growth model

把政府花费分为生产性政府花费与消费性政府花费,建立了连续时间随机内生增长模型.利用随机最优化方法,确定了宏观均衡解.在模型中讨论了政府花费及其波动对经济增长率的影响,导出了最优政府花费的构成.

This paper employs a continuous-time stochastic endogenous growth model with government expenditure. By the method of dynamic optimization, the macroeconomic equilibrium is derived. And then, the model is used to analyze the macroeconomic effects of government expenditure and its volatility on economic growth. The optimal size of government is derived. Government expenditure encompasses productive and consumptive expenditure.