代写Economics Essay:财政政策工具

Keywords:代写Economics Essay

财政政策工具是政府为实现财政政策目标而采取的财政手段和措施。主要包括财政支出和财政收入。财政支出政策由两部分组成，一是政府支出，二是转移支付。和财政收入政策主要包括其中的税收和国债，税收是财政收入政策的主要组成部分（Mankiw，2011）。1930年以前，几乎所有国家的财政政策目标是国家财政收入和支出的平衡以适应自由放任的资本主义经济自由竞争的要求。然而，20世纪30年代的经济危机打破了平衡，许多国家开始实施财政赤字政策。他们试图增加政府开支，以减少失业和刺激总需求，从而刺激经济发展和缓解经济危机。直到今天，许多政府都喜欢采取财政赤字政策来解决经济问题。但如今全球经济正处于低迷时期。几乎每个国家的经济增长率都在下降。因此，作为政府，他们必须采取扩张性财政政策来拯救经济。此时，政府可以增加政府开支和减税，以提高经济增长速度。在短期内，它真的工作。财政支出的增加可以直接增加国民收入，减税可以减少人民的税收，间接增加国民收入。因此，这两项政策可以增加国民收入。当人们变得比以前富有时，他们会买东西或投资。因此，总需求将受到刺激，经济增长的速度将增加。当财政赤字低于GDP的3%时，这种情况是可以持续的。然而，从长远来看，这种情况是不可持续的。由于政府每年由于减税而每年都会得到更少的钱，而且由于财政支出的增加，每年花费的钱越来越多，顺差会越来越少，赤字差距也会越来越大。那么政府将采取哪些措施来填补这一空白呢？由于财政收入政策主要包括税收和国债，政府的唯一选择是发行国债。但如果政府发行过多的国债，就会产生三大影响。第一是挤出效应（Dornbusch，1997）。如果市场上有大量国债，国债价格就会下降。所以利率会增加，会排挤私人投资和消费。二是货币效应（Dornbusch，1997）。为了支付国债，政府必须筹集资金，然而筹集资金最简单、最方便、最有效的方法就是发行货币。但是发行过多的货币会增加通货膨胀率。人们不想看到。最后是利率效应。当国债价格上涨时，利率必须下降。相反，利率必须提高。所以，如果政府长期采取扩张性的财政政策，利率就会一直上涨。如果利率过高，就会抑制经济的发展。除了上述效应外，扩张性财政政策亦会导致财政盈余减少，财政赤字亦会增加。实施的时间越长，赤字就越大。因此，从上面可以得出结论，经济将受益于日益增加的财政支出和减税作为一种手段刺激总需求在短期内。但这一政策在长期内是不可持续的。

代写Economics Essay:财政政策工具

The instruments of Fiscal policy are the financial means and measures taken by the government to achieve fiscal policy objectives. It mainly includes the fiscal expenditure and fiscal revenue. The fiscal expenditure policy consists of two parts, the first is the government spending and the second one is transfer payments. And the fiscal revenue policy mainly includes tax and national bonds, among which, tax is the major component of the fiscal revenue policy (Mankiw, 2011). Before the 1930s, almost all the country’s fiscal policy objective is the balance of state revenue and expenditures so as to adapt to the requirements of Laissez-Faire, Free Contention of Capitalistic Economy. However, the economic crises of the 1930s break the balance, and many countries begin to implement fiscal deficit policy. They try to increase government expenditure to reduce unemployment and stimulate aggregate demand, so as to stimulate the development of the economy and alleviate the economic crisis. Even today, many governments like to take the fiscal deficit policy to solve the economic problem. But nowadays the global economy is in downturn. Nearly every country's economic growth rate is falling. So as the government, they have to take the expansionary fiscal policy to save the economy. At this moment, the government could increase government spending and take a cut in tax to improve the speed of economic growth. In the short term, it really does work. The increasing fiscal spending can directly increase the national income, and the tax cuts could reduce people's tax to indirectly increase the national income. So the both policy can increase the national income. When people become richer than before, they will buy something or invest. So the aggregate demand will be stimulated, and the speed of the economic growth will increase. When the fiscal deficit is below 3% of GDP, This situation can be sustainable. However, in the long term, this situation is not sustainable. Because the government always gets less money every year due to the tax cuts, and spends more and more money every year because of the increasing fiscal spending, the Surplus will be less and less, and the deficit gap will become bigger. So the government will take what measures to fill the gap? Due to the fiscal revenue policy mainly including tax and national bonds, the only choice of the government is to issue national bonds. But if the government issues too much national bonds, it will produce three effects. The first is the Crowding Out effect (Dornbusch, 1997). If there are a large number of national bonds on the market, the price of national bonds will decline. So the Interest rates will increase and it will crowd out private investment and consumption. The second is the currency effects (Dornbusch, 1997). In order to pay the national bonds, the government have to raise money, however the easiest、the most convenient and the most effective way to raise money is to issue currency. But issuing too much currency will increase inflation rate. People don't want to see that. The last is the interest rates effect. When the price of the national bonds increases, the interest rates must decline. On the contrary, the interest rates must increase. So, if the government takes the expansion fiscal policy for a long time, the interest rates will increase all the time. If the interest rate is too high, it will inhibit the development of the economy. In addition to the above effects, the expansionary fiscal policy will also lead to the reduction of the fiscal surplus and the fiscal deficit will increase. The longer it is implemented, the deficit will be more. So, from the above it can be concluded that the economy will benefit from the increasing fiscal spending and tax cuts as a means of stimulating aggregate demand in the short term. But this policy is not sustainable in the long term.