一般注記This paper studies the international and intertemporal implications of increased government expenditure. First, it reviews the conventional proposition that increased government expenditure raises interest rates, crowds out investment, and reduces growth. Then, it shows that this proposition does not necessarily hold in an open economy with integrated international capital markets. This creates a possibility of the strategic intertemporal macroeconomic policy, which minimizes the adverse effects of increased government expenditure on macroeconomic performance. In particular, a country can use economic diplomacy in such a way that government expenditure does not affect its interest rate and potential national income. It offers a new interpretation of the U.S. macroeconomic policy and economic diplomacy toward Japan in the 1980s and 1990s.
一次資料へのリンクURLhttps://barrel.repo.nii.ac.jp/?action=repository_action_common_download&item_id=3918&item_no=1&attribute_id=21&file_no=1
連携機関・データベース国立情報学研究所 : 学術機関リポジトリデータベース(IRDB)(機関リポジトリ)
提供元機関・データベース小樽商科大学 : 小樽商科大学学術成果コレクション