Monopolistic Competition, Increasing Returns, and the Effects of Government Spending
在一个垄断竞争和递增回报的模型中分析政府支出的动态效应，发现即使支出完全浪费，也会内生提高全要素生产率，并可能提升稳态工资和消费。
The dynamic effects of government spending are considered in a general equilibrium model with monopolistic competition and increasing returns. In the economy, changes in the level of government spending endogenously raise total factor productivity, even though the spending itself is entirely wasteful. This leads to several results which contrast with the effects of government spending policies in environments with constant returns. A permanent increase in government spending increases the steady-state wage and may increase steady-state consumption. Also, regardless of its persistence, a temporary shock to government spending may simultaneously raise output, investment, the real wage, and consumption. Copyright 1996 by Ohio State University Press.