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首页> 外文期刊>Oxford Economic Papers >Productive public expenditure and imperfect competition with endogenous price markup
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Productive public expenditure and imperfect competition with endogenous price markup

机译：生产性公共支出和不完全竞争（内生价格上涨）

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This paper incorporates the productivity role of government expenditure into the imperfectly competitive macroeconomic model and re-examines the important findings on the fiscal multiplier proposed by Dixon (1987), Mankiw (1988), and Startz (1989), Generally speaking, we find that the classical results of imperfect competition models should be modified when the productivity role of government expenditure is taken into account. The short-run fiscal multiplier may be positive or negative, depending crucially upon whether the public infrastructure and the private input are technical substitutes or complements for each other. The short-run fiscal multiplier does not necessarily exceed the corresponding long-run multiplier. If public expenditure and private inputs are technically substitutes, the long-run fiscal multiplier may exceed the short-run fiscal multiplier. Additionally, in the long-term analysis, the dynamics of entry is investigated. In response to a change in government policy, the novel transitions of output and entry provide us with important policy implications.
机译：本文将政府支出的生产率作用纳入了不完全竞争的宏观经济模型中，并重新审视了Dixon（1987），Mankiw（1988）和Startz（1989）提出的关于财政乘数的重要发现，总的来说，我们发现当考虑政府支出的生产率作用时，不完善竞争模型的经典结果应加以修改。短期财政乘数可能是正数，也可能是负数，这主要取决于公共基础设施和私人投入是技术的替代还是互补。短期财政乘数不一定超过相应的长期乘数。如果从技术上替代公共支出和私人投入，则长期财政乘数可能会超过短期财政乘数。此外，在长期分析中，研究了进入的动态。为响应政府政策的变化，产出和进入的新颖转变为我们提供了重要的政策含义。

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