政府支出与实际利率正相关：基于美国数据对拉姆齐模型的检验

Positive correlation between government expenditure and real interest rate:Testing Ramsey Model based on American data

在经典的拉姆齐模型中，政府支出的暂时性增加会提高实际利率。利用1959～2002年美国的军费开支和10年期固定债券利率的数据对政府支出和实际利率的正相关性进行的实证分析表明：政府支出的暂时性增加的确会引起实际利率的上升。

In the classical Ramsey Model, temporary increase of government expenditure will raise real interest rate. By using the data of American expenditure on national defense and the interest rate of 10 - year constant maturities from 1959 to 2002, the paper demonstrates from the empirical analysis of positive correlation between government expenditure and real interest rate that temporary increase of government expenditure will surely lead to a rise in real interest rate.