偏好内生、资本进入效用前提下政府开支分析的一般理论框架

Theoretical Framework on the Analysis of Government Expenditure Based on Endogenous Time Preference and Capital in Utility Function

在标准的Ram sey框架下直接引入政府支出,会得到"政府支出的改变对均衡时的资本存量和利率水平没有影响,仅仅把消费水平降低了相同比例"的结论。该结论与实证结果和传统的IS-LM模型的结论不符。为修正该基准理论,学者们多从"将政府开支引入效用函数"和"贴现因子内生"两个方向展开研究,并在两方面都得出了更有说服力的结论。以此为基础,一是在方法上将两方面的成果整合进一个理论框架,二是在模型设定时,以资本替代政府支出进入效用函数。在资本存量越来越成为个人社会地位和成功与否的重要衡量标准的当今时代,将资本存量水平引入效用函数,不但更符合社会现实,而且与时间偏好内生化的条件相结合,使Ram sey模型在分析公共财政问题时的理论解释能力显著增强。

When government expenditure is introduced directly into a standard Ramsey frame, we can get the conclusion that the change of government expenditure could only decrease the con-sumption level in the same proportion, but would have no influence on the capital stock and interest rate level in equilibrium. The conclusion is not in accordance with the result of empirical reearch and the conclusion of IS - LM model. To perfect the benchmark theory, researchers often carry out studies in two aspects including introduce government expenditure into utility function and the endogenous of discount factor, and persuasive conclusions are got in both the two aspects. The paper combines the two aspects in one theoretical framework, and replaces government expenditure with capital to substitute into utility function when constructing the model. Nowadays, with capital stock becomes more and more popular to be an important measurement standard to judge the social status and the success of a person, it is not only more practical to introduce capital stock into utility function, but also greatly improves the explanation ability of analyzing pubic fi-nancial problems by using Ramsey model while combing the condition of endogenous time preference.