Productive government expenditure in a stochastically growing open economy

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	Productive government expenditure in a stochastically growing open economy
	Wang, Haijun 1; Hu, Shigeng 2
刊名	JOURNAL OF SYSTEMS SCIENCE & COMPLEXITY
	2007-03
卷号	20 期号:1 页码:95-107
关键词	endogenous growth open economy optimal tax policy productive government expenditure
ISSN号	1009-6124
英文摘要	This paper employs a stochastic endogenous growth model with productive government expenditure in a small open economy to analyze the optimal fiscal policy. First, a stochastic model of a small open economy is constructed. Second, the equilibrium solutions of the representative agent's stochastic optimization problem are derived. Third, we obtain the equilibrium solutions of the central planner's stochastic optimization problem and the optimal government expenditure policy. Finally, the optimal tax policy is characterized.
WOS研究方向	Mathematics
语种	英语
出版者	SPRINGER HEIDELBERG
WOS记录号	WOS:000254940400009
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/2600]
专题	上海财经大学
通讯作者	Wang, Haijun
作者单位	1.Shanghai Univ Fin & Econ, Dept Appl Math, Shanghai 200433, Peoples R China; 2.Huazhong Univ Sci & Technol, Dept Math, Wuhan 430074, Peoples R China
推荐引用方式 GB/T 7714	Wang, Haijun,Hu, Shigeng. Productive government expenditure in a stochastically growing open economy[J]. JOURNAL OF SYSTEMS SCIENCE & COMPLEXITY,2007,20(1):95-107.
APA	Wang, Haijun,&Hu, Shigeng.(2007).Productive government expenditure in a stochastically growing open economy.JOURNAL OF SYSTEMS SCIENCE & COMPLEXITY,20(1),95-107.
MLA	Wang, Haijun,et al."Productive government expenditure in a stochastically growing open economy".JOURNAL OF SYSTEMS SCIENCE & COMPLEXITY 20.1(2007):95-107.