模型三稳定政策税收支出变化使用gt抵消私人缺口.pdfVIP

Fiscal • ernment taxes and spending changes • Use G and T to offset shortfall in private spending • How much G? Output gap divided by multiplier Output gap = Y – Y f 1 ∆Y = Y – Y f 1 ∆Y = ∆G x multiplier (Y – Y )/multiplier = ∆G f 1 Output Gap AE = Y Aggregate spending Short run equilibrium GDP AE AE Output Gap Potential GDP Autonomous spending Y1 Yf National = GDP = Y e Output Gap AE = Y Aggregate spending Short run equilibrium GDP ∆G AE AE Output Gap Potential GDP Autonomous spending Y1 Yf National = GDP = Y e Tax Cuts Stimulate Spending • Example • Tax rate = .25, mpc = 0.8, Co = 4, I = 6, G = 10. • Equilibrium Y = 50 • Disposable e = (1-.25)50 = 37.5 • Consumption = 4 + .8 x 37.5 = 34 • Let tax rate fall to .2 • Disposable e rises to (1-.2)50 = 40 • Consumption = 4 + .8 x 40 = 36 • ∆C =