Government spending under non-separability: a theoretical analysis
Government spending under non-separability: a theoretical analysis
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不可分离下的政府支出：理论分析
DOI：
10.2139/ssrn.1718306
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发表时间：
2010
影响因子：
--
通讯作者：
A. Palestini
中科院分区：
文献类型：
--
作者：
Luigi Marattin;A. Palestini
我们推导出了政府支出乘数的定性分析的解析隐式条件，以及在总需求的私人和公共部分之间存在不可分离性的情况下政府支出的最优水平。使用最简单的无资本积累的新古典弹性价格模型，我们表明埃奇沃思依赖不是自动评估消费和产出乘数迹象的合适条件，对此必须进行更复杂的分析。我们提出了一个详细的调查所涉及的效用函数，这是至关重要的，这样的评价的形式和特点。我们还表明，如果埃奇沃思互补性足够强，公共支出刺激可以同时提高私人消费和真实的活动。为了调和我们的一般框架与现有文献，我们讨论了最近的例子，不可分离的功能形式从我们的结果的立场，并认为它们的一致性依赖于特定的假设稳态点。
We derive analytic implicit form conditions for the qualitative analysis of government spending multipliers and the optimal level of government spending in presence of non-separability between private and public components of aggregate demand. Using the simplest neo-classical flexible price model with no capital accumulation, we show that Edgeworth dependence is not a suitable condition to automatically assess the signs of the consumption and output multipliers, for which a more complex analysis must be carried out. We propose a detailed investigation of the form and the characteristics of the involved utility functions, which are crucial to such evaluation. We also show that if Edgeworth complementarity is strong enough, a public spending stimulus can raise at the same time private consumption and real activity. In order to reconcile our general framework with existing literature, we discuss recent examples of non-separable functional forms from the standpoint of our results, and argue that their consistency relies on specific assumptions about steady-state points.