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美国代写论文--美国纽约大学金融硕士代写:High Government Debt and Tight Fiscal Policy

美国代写论文--美国纽约大学金融硕士代写:High Government Debt and Tight Fiscal Policy
  • 国家 : 美国
  • 级别 : 硕士
  • 专业 :
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High Government Debt and Tight Fiscal Policy

INTRODUCTION

As we know, the development of economy is affected by lots of factors. Having toohigh government debt would not do good to the whole country. In order to keep the economy well developing, government decides to reduce the debt GDP ratio.According to the problem, this note will discuss solution. The government may as well take the tight fiscal and monetary policy to achieve this. After that, it will have a further explanation of its advantages and disadvantages. Finally look at the point“does keeping a balanced budget help?”.

TIGHT FISCAL AND MONETARY POLICY

Taking the tight fiscal policy will undoubtedly help to recover economy. Reinhart and Rogoff (2010) argue that peacetime debt build-ups may be more problematic forfuture growth since they tend to be persistent for longer periods of time compared to war-time debt explosions. Economic and financial crises are also likely to contribute to the build-up of government debt, as shown in a recent paper analyzing severe post-World War II financial crises.[1]Fiscal policy should integrate with the monetary policy.While monetary and fiscal policy are independent tools, one can dominate the other.[2]

CONSEQUENCE OF HAVING TOO HIGH DEBT

Having too high government in some way retrains the development of economy. For instance, business partners from different countries will lose faith in us for we much debt on shoulder. They fear they cannot get profits in our country. In other aspects, with too high debt, the country can never do economical activities as freely as those with less debt. A normal ratio of debt does good to a country, while it is harmful when debt becomes quite high.

MEASURES OF TIGHT FISCAL POLICY

The tight fiscal policy means to increase fiscal revenue and decrease the spending.As for increasing the government revenue, increasing tax would be a way. Government can get much more tax from those enterprises which operate well. While as far as the normal workers concerned, their tax would better not be increased. On the other hand, the country need to cut the spending. There are some aspects government can set about. First of all, government can lower the salary of civil servant. Secondly, theymay as well reduce the investment on public facilities. Besides, welfare could be reduced in some degree. In this way, the currency in circulation will be reduced. Just as American’s recent fiscal cliff, they adopted the policy to increase fiscal revenue.

As for the tight monetary policy, reducing the provision of the currency would be adopted by the bank. It is coordinated to the tight fiscal policy, as an assistant one.

ADVANTAGE AND DISADVANTAGE

Tight fiscal policy will surely remit the dilemma of economy situation right now, and it can achieve the goal in an instant way. It is not that proper in fact. Most of people do not like such kind of policy. The level of their life quality will be lowered according to the less welfare and the higher tax. Tight monetary policy accelerates the borrowing process by both decreasing the seniorage revenue sand increasing interestrates in public borrowings.[3] Enterprises are faced with a larger challenge and some may even go broken under such pressure. In the long run, GDP growth rate will also be dropped.

KEEP A BALANCED BUDGET

Keeping a balanced budget is not a bad idea, while it is hard to achieve. Many factors could be accounted into the balanced budget, such as finance, credit and foreign exchange. In particular, our balanced-budget rule consists of endogenous

government purchases and/or transfers, separate fixed tax rates applied to labor and

capital income, and a depreciation allowance.[4]

Reference

[5]

Alan S. Blinder in Society (1998) : Tight Money and Loose Fiscal Policy . Springer-Verlag

 

Bora Süslü(2004): The view of Sargent and Wallace on monetary policy:tightmonetary policy does not stop inflation: an evaluation of CBRT’s monetarypolicy for 1987–2002. Turkey

 

Jang-Ting Guo and Sharon G. Harrison(2004): Balanced-budget rules and macroeconomic (in)stability. New York

 

Philipp Rother(2012): The impact of high government debt on economic growth and its channels: An empirical investigation for the euro area. Germany

 

 



[1] Philipp Rother(2012): The impact of high government debt on economic growth and its channels: An empirical investigation for the euro area. Germany

[2] Alan S. Blinder in Society (1998) : Tight Money and Loose Fiscal Policy . Springer-Verlag

[3] Bora Süslü(2004): The view of Sargent and Wallace on monetary policy:tightmonetary policy does not stop inflation: an evaluation of CBRT’s monetarypolicy for 1987–2002. Turkey

[4] Jang-Ting Guo and Sharon G. Harrison(2004): Balanced-budget rules and macroeconomic (in)stability. NewYork

[5] Philipp Rother(2012): The impact of high government debt on economic growth and its channels: An empirical investigation for the euro area. Germany

 

 

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高政府债务和财政紧缩政策
景区简介
正如我们所知,经济的发展受到许多因素的影响。有太高的政府债务对整个国家都不好。为了保持经济的良好发展,政府决定降低国内生产总值的比例。根据问题,本说明将讨论解决方案。政府也可能采取紧缩的财政和货币政策来实现这一。之后,它将有一个进一步的解释,其优点和缺点。最后看一下“是否保持了平衡的预算帮助?“”。
紧缩的财政和货币政策
采取紧缩的财政政策无疑将有助于经济复苏。赖因哈特和罗戈夫(2010)认为,和平时期债务建立UPS可能会比较麻烦,因为他们未来的增长会持续更长的时间比战争时期的债务爆炸。经济和金融危机也可能有助于政府债务的积累,如最近的一篇文章分析严重的二战后的金融危机,[ 1 ]财政政策应该与货币政策相结合。而货币政策和财政政策是独立的工具,一个可以支配另一个。
负债过高的后果
有一些太高了政府抑制了经济的发展。例如,来自不同国家的商业伙伴会失去对我们的信心,因为我们有太多的债务承担。他们担心他们不能在我们国家获得利润。在其他方面,有太高的债务,该国不能做经济活动,自由地为那些更少的债务。一个正常的债务比率对一个国家有良好的影响,而当债务变得相当高的时候它是有害的。
紧缩财政政策措施
紧缩财政政策是增加财政收入,减少财政支出,增加政府财政收入,增加税收。政府可以从那些经营好的企业获得更多的税收。虽然就一般的工人而言,他们的税收也不会增加。另一方面,国家需要削减开支。有一些方面的政府可以设定。首先,政府可以降低公务员的工资。其次,他们可以减少对公共设施的投资。此外,福利可以在一定程度上减少。这样,流通中的货币就会减少。正如美国最近的财政悬崖,他们采取了增加财政收入的政策。
至于紧缩的货币政策,银行将通过减少货币供应。协调财政政策,作为一个助理。
优势与劣势
财政紧缩政策必然会缓解目前经济形势的困境,并能在一瞬间实现目标。事实上,这并不是事实。大多数人不喜欢这样的政策。他们的生活质量水平将降低,根据福利和更高的税。从紧的货币政策,通过降低seniorage收入砂提高利率在公共借款的借款过程加速。[ 3 ]企业面临更大的挑战,有些人甚至在这样的压力下破碎。从长远来看,国内生产总值的增长速度也将下降。
保持平衡的预算
保持平衡的预算不是一个坏主意,虽然很难实现。财政、信贷、外汇等多方面的因素都可以纳入预算平衡。特别是,我们的平衡预算规则包括内生
政府购买和/或转让,单独固定税率适用于劳动和
资本收入,和折旧津贴[ 4 ]
参考
[ 5 ]
艾伦S布林德在社会(1998):货币紧缩与宽松的财政政策。施普林格出版社
宝来的üSLü(2004):萨金特和华勒斯对货币政策的看法:tightmonetary政策不停的通货膨胀:银行的1987–2002货币政策评价。土耳其
张婷郭和Sharon G.哈里森(2004):平衡预算规则和宏观经济稳定(中)。纽约
菲利普罗瑟(2012):高政府债务对经济增长及其通道的影响:对于欧元区的实证研究。德国
【1】菲利普罗瑟(2012):高政府债务对经济增长及其通道的影响:对于欧元区的实证研究。德国
[ 2 ]艾伦S布林德在社会(1998):货币紧缩与宽松的财政政策。施普林格出版社
【3】宝来的üSLü(2004):萨金特和华勒斯对货币政策的看法:tightmonetary政策不停的通货膨胀:银行的1987–2002货币政策评价。土耳其
【4】张婷郭和Sharon G.哈里森(2004):平衡预算规则和宏观经济稳定(中)。纽约
【5】菲利普罗瑟(2012):高政府债务对经济增长及其通道的影响:对于欧元区的实证研究。德国
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