关键字：

【ECON20161204】

宏观经济学研讨会

（总第199期）

【时间】2016年3月30日（周三）12：15－13：45

【地点】明法0102教室

【主讲】韩少华 中国人民大学汉青经济与金融高级研究院

【主题】Fiscal Policy in a Depressed Economy (B. Delong and L. Summers, BPEA Paper, 2012)

【点评】周璇 中国人民大学经济学院助理教授 印第安纳大学经济学博士

【摘要】In a depressed economy, with short-term nominal interest rates at their zero lower bound, ample cyclical unemployment, and excess capacity, increased government purchases would be neither offset by the monetary authority raising interest rates nor neutralized by supply-side bottlenecks. Then even a small amount of hysteresis—even a small shadow cast on future potential output by the cyclical downturn—means, by simple arithmetic, that expansionary fiscal policy is likely to be self-financing. Thus, at the zero bound, where the central bank cannot or will not but in any event does not perform its full role in stabilization policy, fiscal policy has the stabilization policy mission that others have convincingly argued it lacks in normal times.

【主持】陈彦斌 教授

 

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人大宏观经济学研讨会（Macro Workshop）旨在追踪宏观经济学国际最新进展，倡导构建符合国情的动态优化模型，并使用计算机模拟研究经济增长、收入分配和宏观政策等中国宏观经济重大问题。

联系人：刘哲希    Email：Macro_Workshop@163.com

资料下载：www.docin.com/mydoc-88265459-1.html

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