The Savers-Spenders Theory of Fiscal Policy
The Savers-Spenders Theory of Fiscal Policy
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财政政策的储蓄者-支出者理论
DOI：
10.2139/ssrn.236429
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发表时间：
2000
期刊：
影响因子：
--
通讯作者：
N. Mankiw
中科院分区：
文献类型：
--
作者：
N. Mankiw
财政政策的宏观经济分析通常基于两个典型模型中的一个--无限生活家庭的巴罗-拉姆齐模型或世代重叠的戴蒙德-萨缪尔森模型。本文认为，这两种模型都不能令人满意，并提出了一种替代方案。在拟议的模式中，一些消费者为自己和他们的后代提前计划，而另一些消费者则靠工资过活。这个模型更容易与有关消费者行为和财富积累的基本事实相一致，并得出了一些关于财政政策的新的令人惊讶的结论。
The macroeconomic analysis of fiscal policy is usually based on one of two canonical models--the Barro-Ramsey model of infinitely-lived families or the Diamond-Samuelson model of overlapping generations. This paper argues that neither model is satisfactory and suggests an alternative. In the proposed model, some consumers plan ahead for themselves and their descendants, while others live paycheck to paycheck. This model is easier to reconcile with the essential facts about consumer behavior and wealth accumulation, and it yields some new and surprising conclusions about fiscal policy.