A Stochastic Endogenous Growth Model of Consumptive Government Expenditure

被引：0

作者：

Liu, Weikai ^{[1
]}

Zhang, Zhongcheng ^{[1
]}

Hu, Duanping ^{[1
]}

机构：

[1] Wuhan Inst Technol, Sch Sci, Wuhan 430074, Peoples R China

来源：

2010 INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE AND ENGINEERING (MSE 2010), VOL 2 | 2010年

关键词：

Consumptive government expenditure; stochastic dynamical optimization; endogenous economic growth; Bellman equation; macroeconomic equilibrium; ECONOMIC-GROWTH; PERFORMANCE;

D O I：

暂无

中图分类号：

C93 [管理学]; O22 [运筹学];

学科分类号：

070105 ; 12 ; 1201 ; 1202 ; 120202 ;

摘要：

This paper addresses the problem of macroeconomic effects of consumptive government expenditure and volatility on economic growth. Firstly, a stochastic endogenous growth model of consumptive government expenditure is presented, which is more general to reflect the reality in contrast to the neoclassical deterministic growth model. Then based on stochastic dynamical optimization method, the macroeconomic equilibrium and equilibrium solutions is derived. Finally, the macroeconomic effects of consumptive government expenditure and stochastic disturbance on economic growth are analyzed, and the optimal size of consumptive government expenditure is derived.

引用

页码：170 / 173

页数：4

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