【文章內(nèi)容簡(jiǎn)介】 t, and growth in the long run. ? In the short run, fiscal policy primarily affects the aggregate demand. Copyright 169。 2022 SouthWestern 財(cái)政政策如何影響總需求 ? 財(cái)政政策 —— 對(duì)政府購(gòu)買或稅收總水平的政府選擇。 ? 財(cái)政政策影響長(zhǎng)期中的儲(chǔ)蓄、投資和增長(zhǎng)。 ? 在短期中，財(cái)政政策主要影響物品與勞務(wù)的總需求。 Copyright 169。 2022 SouthWestern Changes in Government Purchases ? When policymakers change the money supply or taxes, the effect on aggregate demand is indirect— through the spending decisions of firms or households. ? When the government alters its own purchases of goods or services, it shifts the aggregatedemand curve directly. Copyright 169。 2022 SouthWestern 政府購(gòu)買的變動(dòng) ? 當(dāng)決策者改變貨幣供給或稅收水平時(shí)，它就通過(guò)影響企業(yè)或家庭的支出決策而間接地影響總需求。 ? 當(dāng)政府改變自己購(gòu)買物品與勞務(wù)量時(shí)，它就直接地使總需求移動(dòng)。 Copyright 169。 2022 SouthWestern Changes in Government Purchases 政府購(gòu)買 ? There are two macroeconomic effects from the change in government purchases: 當(dāng)政府購(gòu)買變化時(shí)，有兩種宏觀經(jīng)濟(jì)效應(yīng)： ? The multiplier effect 乘數(shù)效應(yīng) ? The crowdingout effect 擠出效應(yīng) Copyright 169。 2022 SouthWestern The Multiplier Effect ? Government purchases are said to have a multiplier effect on aggregate demand. ? Each dollar spent by the government can raise the aggregate demand for goods and services by more than a dollar. Copyright 169。 2022 SouthWestern 乘數(shù)效應(yīng) ? 政府購(gòu)買對(duì)總需求有一種 乘數(shù)效應(yīng)。 ? 政府支出的每一美元可以增加的物品與勞務(wù)的總需求量大于一美元。 Copyright 169。 2022 SouthWestern The Multiplier Effect 乘數(shù)效應(yīng) ? The multiplier effect refers to the additional shifts in aggregate demand that result when expansionary fiscal policy increases ine and thereby increases consumer spending. 乘數(shù)效應(yīng) —— 當(dāng)擴(kuò)張性財(cái)政政策增加了收入，從而增加了消費(fèi)支出時(shí)引起的總需求的額外移動(dòng)。 Figure 4 The Multiplier Effect Quantity of Output Price Level 0 Aggregate demand, AD1 $20 billion AD2 AD3 1. An increase in government purchases of $20 billion initially increases aggregate demand by $20 billion . . . 2. . . . but the multiplier effect can amplify the shift in aggregate demand. 圖 4. 乘數(shù)效應(yīng) 產(chǎn)量 物價(jià) 水平 0 總需求 AD1 200億美元 AD2 AD3 200億美元最初使總需求 增加 200億美元 …… 2……. 但乘數(shù)效應(yīng)可 以擴(kuò)大總需求的移動(dòng) Copyright 169。 2022 SouthWestern 邊際消費(fèi)傾向?yàn)?b，政府支出增加△ G ， GDP增加多少？ Round Increase in AD Accumulative Increase in Y Car △ G △ G Food b△ G △ G+ b△ G Sightseeing b b△ G △ G+ b△ G+ b2△ G ……………………………………………………. N, Concert bn1△ G △ G+ b△ G+ b2△ G +…+b n1△ G …………………………………………………… △ Y = ( 1 + b2 + b3 + … + b n1 ) △ G =[ 1/(1b)] △ G Copyright 169。 2022 SouthWestern A Formula for the Spending Multiplier ? The formula for the multiplier is: Multiplier = 1/(1 MPC) ? An important number in this formula is the marginal propensity to consume (MPC). ? It is the fraction of extra ine that a household consumes rather than saves. Copyright 169。 2022 SouthWestern 支出乘數(shù)的公式 ? 支出乘數(shù)的公式是 : 乘數(shù) = 1/(1 MPC) ? 在這個(gè)公式中，一個(gè)重要的數(shù)字是邊際消費(fèi)傾向 (MPC)。 ? 邊際消費(fèi)傾向是家庭額外收入中用于消費(fèi)而不用于儲(chǔ)蓄的比例。 Copyright 169。 2022 SouthWestern A Formula for the Spending Multiplier ? If the MPC is 3/4, then the multiplier will be: Multiplier = 1/(1 3/4) = 4 ? In this case, a $20 billion increase in government spending generates $80 billion of increased demand for goods and services. Copyright 169。 2022 SouthWestern 支出乘數(shù)的公式 ? 如果 MPC 是 3/4, 那么乘數(shù)是 : 乘數(shù) = 1/(1 3/4) = 4 ? 在這個(gè)例子中，政府支出增加 200億美元就引起物品與勞務(wù)需求量增加 800億美元。 Copyright 169。 2022 SouthWestern ? 討論：節(jié)儉的悖論 ? 一個(gè)人節(jié)儉可以使一個(gè)人更富，一個(gè)國(guó)家所有的人都更節(jié)儉能不能使一個(gè)國(guó)家變富呢？ Copyright 169。 2022 SouthWestern 如何看待一國(guó)儲(chǔ)蓄與消費(fèi)關(guān)系？ 節(jié)儉悖論：越節(jié)儉越貧窮（越儲(chǔ)蓄，儲(chǔ)蓄越少） 儲(chǔ)蓄多 —— 需求不足 —— 下一次產(chǎn)量減少 —— 收入減少 —— 儲(chǔ)蓄減少。因此，節(jié)儉對(duì)個(gè)人是美德，對(duì)社會(huì)是不幸。 短期內(nèi)，儲(chǔ)蓄越少，產(chǎn)量越多。 長(zhǎng)期內(nèi)，儲(chǔ)蓄越多，生產(chǎn)能力越大，增長(zhǎng)越快。 如果投資充足，儲(chǔ)蓄越多對(duì)經(jīng)濟(jì)越有利 。 Copyright 169。 2022 SouthWestern The CrowdingOut Effect ? Fiscal policy may not affect the economy as strongly as predicted by the multiplier. ? An increase in government purchases causes the interest rate to rise. ? A higher interest rate reduces investment spending. Copyright 169。 2022 SouthWestern 擠出效應(yīng) ? 財(cái)政政策對(duì)經(jīng)濟(jì)的影響也許并不像乘數(shù)預(yù)測(cè)的那樣大。 ? 政府購(gòu)買增加引起利率上升。 ? 較高的利率減少了投資支出。 Copyright 169。 2022 SouthWestern The CrowdingOut Effect ? This reduction in demand that results when a fiscal expansion raises the interest rate is called the crowdingout effect. ? The crowdingout effect tends to dampen the effects of fiscal policy on aggregate demand. Copyright 169。 2022 SouthWestern 擠出效應(yīng) ? 擠