On budget deficit under economic growth -Towards a mathematical model of MMT-
On budget deficit under economic growth -Towards a mathematical model of MMT-
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论经济增长下的预算赤字-MMT数学模型的探讨-
DOI：
10.2139/ssrn.3963144
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发表时间：
2021
期刊：
影响因子：
--
通讯作者：
Yasuhito Tanaka
中科院分区：
文献类型：
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作者：
Yasuhito Tanaka
最近，一个被称为现代货币理论（MMT）的思想流派引起了人们的关注，但它并没有得到太多的理论或数学分析。在本文中，我们检查的理论有效性的MMT参数使用的世代重叠（OLG）模型，其中包括经济增长，由于人口增长，并给出了一般的积极评价MMT。其基本思想是，当经济增长时，一定水平的持续预算赤字是维持充分就业所必需的，当预算赤字超过这一水平时，通货膨胀就会发生，当预算赤字福尔斯低于这一水平时，经济衰退就会发生，非自愿失业就会发生。为了从经济衰退中复苏，预算赤字必须超过这一水平，而这一赤字不需要由未来的预算盈余来弥补。技术进步带来的增长也是如此。
Recently, a school of thought called Modern Monetary Theory (MMT) has been attracting attention, but it has not received much theoretical or mathematical analysis. In this paper, we examine the theoretical validity of the MMT argument using an overlapping generations (OLG) model that includes economic growth due to population growth, and give a generally positive evaluation of MMT. The basic idea is that a certain level of continuous budget deficit is necessary to maintain full employment when the economy is growing, that inflation occurs when the budget deficit exceeds that level, that a recession occurs when the budget deficit falls below that level, and involuntary unemployment occurs. In order to recover from a recession, a budget deficit in excess of that level is required, and that deficit need not be covered by a future budget surplus. The same can be said for growth resulting from technological progress.
动态扩展的凯恩斯交叉与改善福利的财政政策
DOI：
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发表时间：
2007
期刊：
Economics Letters 96
影响因子：
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作者：
大瀧雅之;大瀧雅之
通讯作者：
大瀧雅之