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    题名: Productive Public Expenditure and Imperfect Competition with Endogenous Price Markup
    作者: Chen, Jhy-hwa;Shieh, Jhy-yuan;Lai, Ching-chong
    贡献者: 淡江大學經濟學系
    关键词: JEL classification: E12;E62;H54
    日期: 2005-07
    上传时间: 2009-11-30 18:37:04 (UTC+8)
    出版者: Oxford University Press
    摘要: 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.
    關聯: Oxford economic papers 57(3), p.522-544
    DOI: 10.1093/oep/gpi017
    显示于类别:[國際企業學系暨研究所] 期刊論文
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