经济理论与经济管理
經濟理論與經濟管理
경제이론여경제관리
Economic Theory and Business Management
2012年
2期
37~46
,共null页
流动性约束 政府消费 替代作用 消费波动
流動性約束 政府消費 替代作用 消費波動
류동성약속 정부소비 체대작용 소비파동
liquidity constraint; government consumption; substitution effeet; consumption volatility
本文借用两个相关的模型探讨流动性约束和政府消费替代对于我国居民消费过度波动现象的解释力，发现流动性约束和政府消费分别通过弱化居民消费跨期优化能力和增强其对居民消费替代作用的渠道来增加居民消费波动，且前者的作用强于后者。本文同时发现流动性约束的增加减损居民福利，而政府消费替代比例的增加则能提高居民福利。
本文藉用兩箇相關的模型探討流動性約束和政府消費替代對于我國居民消費過度波動現象的解釋力，髮現流動性約束和政府消費分彆通過弱化居民消費跨期優化能力和增彊其對居民消費替代作用的渠道來增加居民消費波動，且前者的作用彊于後者。本文同時髮現流動性約束的增加減損居民福利，而政府消費替代比例的增加則能提高居民福利。
본문차용량개상관적모형탐토류동성약속화정부소비체대대우아국거민소비과도파동현상적해석력，발현류동성약속화정부소비분별통과약화거민소비과기우화능력화증강기대거민소비체대작용적거도래증가거민소비파동，차전자적작용강우후자。본문동시발현류동성약속적증가감손거민복리，이정부소비체대비례적증가칙능제고거민복리。
This paper used two related models to explore the relationship between liquidity constraint, government consumption substitution and household consumption volatility in China. This paper found that liquidity constraint and government consumption substitution could effectively increase household con- sumption volatility with the channels of weakening household＇s ability of inter-temporal optimization and substitution effect. This paper also found that liquidity constraint decreased household＇s welfare and gov- ernment consumption substitution could help to increase household＇s welfare.
