教師資料查詢 | 類別: 期刊論文 | 教師: 李順發 Shun-fa Lee (瀏覽個人網頁)

標題:General Fund financing, Earmarking, Economic Stabilization and Welfare
學年97
學期2
出版(發表)日期2009/07/15
作品名稱General Fund financing, Earmarking, Economic Stabilization and Welfare
作品名稱(其他語言)
著者Lee, Shun-fa; Chen, Been-lon
單位淡江大學產業經濟學系
出版者SAGE Publications
著錄名稱、卷期、頁數Public Finance Review 37(5), pp.507-538
摘要Discussion has been made concerning the pros and cons of financing public projects via either earmarking or a general fund. The article studies the desirability of earmarked and general fund financing based on economic stabilization in a two-sector growth model. Regardless of the nature of public goods, earmarked taxes contribute to aggregate stabilization, while general fund financing may be destabilizing and cause fluctuations. The underlying mechanism in favor of earmarked taxes against general fund financing is that general fund financing creates intersectoral externalities and strategic complementarities that are sufficiently large to exert endogenously persistent and recurring fluctuations in aggregate activities in the absence of shocks to fundamentals. Earmarked taxing generates only sector-specific externalities that are too small to exert local indeterminacy. In a calibrated version, we compute the level of long-run welfare, and the results reflect favorably on the use of earmarked taxing.
關鍵字
語言英文(美國)
ISSN1091-1421
期刊性質國外
收錄於
產學合作
通訊作者
審稿制度
國別美國
公開徵稿
出版型式,紙本
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