期刊名称：Finanzwissenschaftliche Diskussionsbeiträge / Finanzwissenschaftliches Forschungsinstitut, Universität Köln
印刷版ISSN：0945-490X
出版年度：2008
卷号：2008
出版社：Universität Köln
摘要：In this paper, we compare growth and welfare e¤ects of various budget rules within
an endogenous growth model with productive public capital, utility enhancing public
consumption and public debt. We .nd that a .xed de.cit regime does not a¤ect
the long run growth rate compared to a balanced budget while the growth rate is
increased by a golden rule. Welfare e¤ects are ambiguous. Simulations indicate
that economies populated by households who have a strong tendency to smooth
consumption should adhere to a balanced budget rather than a golden rule or a
.xed de.cit rule from a welfare point of view.
关键词：Budget rules, golden rule of public .nance, .scal policy,
endogenous growth, welfare
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