Aid and the Supply Side
构建了一个包含公共基础设施和干中学效应的模型，模拟援助增加对实际汇率、产出增长和福利的影响，发现短期荷兰病效应后，长期影响比简单模型更复杂。
Contemporary policy debates on the macroeconomics of aid often concentrate on short-run Dutch disease effects, ignoring the possible supply-side impact of aidfinanced public expenditure. In the simple model of aid and public expenditure presented here, public infrastructure generates an intertemporal productivity spillover, which may exhibit a sector-specific bias. The model also provides for a learning-by-doing externality, through which total factor productivity in the tradable sector is an increasing function of past export volumes. An extended computable version of this model is used to simulate the effect of a step increase in net aid flows. The simulations show that beyond the short run, when conventional demand-side Dutch disease effects are present, the relationship between enhanced aid flows and real exchange rates, output growth, and welfare is less straightforward than simple models of aid suggest. Public infrastructure investment that generates a productivity bias in favor of nontradable produ...