The macroeconomic effects of government spending
研究了在一次性总付税和所得税两种税制下，政府支出增加对利率、劳动和产出的不同影响，对理解财政政策传导机制有帮助。
This paper examines the effects of government spending under both lump-sum and income tax regimes. Under a lump-sum tax financing scheme, an increase in government spending induces a rise in the real interest rate and causes labor effort and real output to increase because of the income effect. This result is reversed under an income tax regime due to the dominating wage effect. The interest rate may rise or decline under an income tax scheme, depending on the persistence of government spending.