Title page for etd-0601116-164731


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URN etd-0601116-164731
Author Hsiao-jung Lin
Author's Email Address No Public.
Statistics This thesis had been viewed 5537 times. Download 548 times.
Department Economics
Year 2015
Semester 2
Degree Master
Type of Document
Language zh-TW.Big5 Chinese
Title Endogenous Growth in a Cash-in-Advance Economy:The Optimal Ratio of Tax Financing and Money Financing
Date of Defense 2016-06-27
Page Count 39
Keyword
  • welfare
  • endogenous growth
  • financing ratio
  • money financing
  • income tax financing
  • Abstract This thesis introduces money into the Barro (1990) model, and specifies that government’s infrastructure expenditure is financed by both income taxes and seigniorage revenue. Then, this thesis focuses on how the relative ratio between money financing and taxes financing will govern the balanced growth rate and the level of social welfare.
    Several main findings emerge from the analysis. First, the growth rate would attain its maximization when the income tax rate is equal to the production externality of infrastructure expenditure. Second, a rise in the proportion of money financing is beneficial to the balanced growth rate. Third, according to the calibration results, a rise in the proportion of money financing has an ambiguous effect on the level of social welfare. If the growth rate effect dominates the initial consumption effect, social welfare will rise in response; otherwise, social welfare will fall in response. As a consequence, the economy exists an optimal proportion of money financing.
    Advisory Committee
  • Shih-Wen Hu - chair
  • Shul-John Li - co-chair
  • Ching-Chong Lai - advisor
  • Files
  • etd-0601116-164731.pdf
  • Indicate in-campus at 0 year and off-campus access at 1 year.
    Date of Submission 2016-07-06

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