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时间:2020-08-12
《宏观经济学原理教辅 (9).pdf》由会员上传分享,免费在线阅读,更多相关内容在工程资料-天天文库。
1、9(21)TheGovernmentandFiscalPolicyOUTLINEOFTEXTMATERIALI.IntroductionA.Thereismuchcontroversyovertheappropriaterolegovernmentshouldplayintheeconomy.Thiscontroversyconstantlyshiftsbetweenpositiveandnormativearguments.1.Keynesiansbelievethatthemacroeconomyislikelytofluctuatetoomuchifleftonitsown2.
2、Others(knownbyvariousnamesbutwhoseantecedentsaretheclassicalschool)claimthatfiscalandmonetarypoliciesareincapableofstabilizingtheeconomyand,evenworse,maybedestabilizingandharmful.3.Mostagree,however,thatgovernmentsareimportantactorsintheeconomiesofvirtuallyallcountries,likeitornot.B.Thegovernme
3、ntcanaffectthemacroeconomythroughfiscalpolicy(itsspendingandtaxingbehavior)andmonetarypolicy(thebehavioroftheFederalReserveregardingthenation’smoneysupply).1.Fiscalpolicyincludeschangesingovernmentpurchasesofgoodsandlabor,taxes,and/ortransferpaymentstohouseholdswiththeobjectiveofchangingtheecon
4、omy’sgrowth.2.Monetarypolicymeanschangesinthequantityofmoneyincirculationwiththeobjectiveofchangingtheeconomy’sgrowth.Oftenmonetarypolicyissetasaninterestratetarget.3.IntheUnitedStatesthecentralbankisnotpartofthegovernment.TechnicallytheU.S.governmentonlyhascontroloffiscalpolicy.7374Principleso
5、fMacroeconomicsII.GovernmentintheEconomyA.Weneedtodistinguishbetweenvariablesthatthegovernmentcontrolsdirectlyandthosethatareaconsequenceofgovernmentdecisions.Neithercanbeevaluatedwithouttakingthestateoftheeconomyintoaccount.1.Forexample,thegovernmentcontrolstaxrates,buttaxrevenuesarealsoaffect
6、edbythestateoftheeconomy.2.Similarly,governmentspendingalsodependsbothongovernmentdecisionsandonthestateoftheeconomy.Forexample,governmentspendingforunemploymentcompensationincreaseswhentheeconomymovesintoarecessionandtheunemploymentraterises.3.Discretionaryfiscalpolicyreferstoanychangeintaxeso
7、rspendingthatisintendedtoinfluencethefuturepathoftheeconomy.B.GovernmentPurchases(G),NetTaxes(T),andDisposableIncome(Y)d1.Definitionsa.Nettaxesequalstaxrevenuelesstransferpayments.TEACHINGTIP:Studentsmaybeconfusedastowhytransfe
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