報告題目：A Multi-sector Model of Public Expenditure and Growth
報告人：經(jīng)濟學院 張利風 副教授
報告時間：2016年11月3日 下午15點10分
報告地點：經(jīng)濟學院6號樓210室
組織發(fā)起：經(jīng)濟學院前沿文獻與經(jīng)典著作讀書會
主辦單位：經(jīng)濟學院
協(xié)辦單位：科研處
內(nèi)容摘要：
A large and rich body of empirical and theoretical research examines the role of public expenditure in fostering economic growth. This paper develops a model of endogenous growth with a particular focus on the role of public expenditure in structural changes. We consider the dynamics of a multi-sector economy that allows for differences among sectors in the output elasticity of public expenditure, and demonstrate that there exists a unique balanced growth path that is locally saddle-path stable. Along the balanced growth path, the endogenous growth of public expenditure and its disproportionate effect on different sectors result in changes in the relative prices of goods, which, in turn, cause structural changes represented by a reallocation of resources across sectors. Quantitatively, the faster the economic growth triggered by the policy, the greater the changes in the reallocation of labor.
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