政府支出结构、扭曲性税收及内生贴现因子

The Compositions of Government Expenditure,Distortionary Taxation and Endogenous Time Preference

在一个无穷期限模型中,假设经济主体具有完全理性,通过将常数贴现因子转换为关于效用水平的内生变量,利用跨期优化方法重新考虑了政府支出结构、扭曲性税收对宏观经济变量的影响.尤其关注这两种变量的长期和短期变化对资本积累路径的影响,理论模型表明,当贴现因子内生化后,政府支出结构和扭曲性税收对宏观经济的影响会更为复杂,尤其体现在生产性支出上.

In an infinite-horizon model, Assuming that economic agents have full predictability, with endogenous time preference, we reconsider the impact of the compositions of government expenditure and distorting taxes on macroeconomic vari- ables, especially focusing on the impact of these two variables of long-term and short-term change on the path of capital accumu- lation. Theoretical model shows that, when the discount factor is endogenous, the structure of government expenditure and distorting tax will make the macro economy more complex, particularly on the productive expenditure.