货币政策的挤出:财政政策的局限性

PSN: Public Spending (Comparative) (Topic) Pub Date : 2016-09-02 DOI:10.2139/SSRN.2869391

Martin Hiermeyer

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引用次数: 0

摘要

如果扩张性财政政策导致通货膨胀，那么扩张性财政政策就会迫使以通货膨胀为目标的央行在货币政策上采取更严格的限制措施。这种央行政策的改变是以产出为代价的，必须与扩张性财政政策所获得的产出收益相比较。

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Crowding Out of Monetary Policy as a Limitation of Fiscal Policy

If expansionary fiscal policy is inflationary, expansionary fiscal policy forces an inflation-targeting central bank to be somewhat more restrictive in its monetary policy. This altered central bank policy comes at a cost in terms of output which has to be calculated against the output gain achieved by the expansionary fiscal policy.

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PSN: Public Spending (Comparative) (Topic)

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