The dynamically extended Keynesian cross and the welfare-improving fiscal policy

被引：6
|
作者：
Otaki, Masayuki [1 ]
机构：
[1] Univ Tokyo, Inst Social Sci, Tokyo 1130033, Japan
来源：
ECONOMICS LETTERS | 2007年 / 96卷 / 01期
关键词：
Keynesian cross; fiscal multiplier; seigniorage; welfare-improving fiscal policy;
D O I：
10.1016/j.econlet.2006.12.005
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We construct a dynamic Keynesian cross. The dynamic extension allows for seigniorage on government financing in lieu of lump sum taxation. Because seigniorage imposes no tax burden, expansionary fiscal policy improves welfare even if wasteful. (c) 2007 Published by Elsevier B.V.
引用
收藏
页码：23 / 29
页数：7
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