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In this paper, we use a dynamic stochastic general equilibrium model to examine the effects of an expansion in government spending in a liquidity trap. If the liquidity trap is very prolonged, the spending multiplier can be much larger than in normal circumstances, and the budgetary costs minimal. However, given this fiscal free lunch, it is unclear why policymakers would want to limit the size of fiscal expansion. Our paper addresses this question in a model environment in which the duration of the liquidity trap is determined endogenously, and depends on the size of the fiscal stimulus. We show that even if the multiplier is high for small increases in government spending, it may decrease substantially at higher spending levels; thus, it is crucial to distinguish between the marginal and average responses of output and government debt. 相似文献
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在这个竞争激烈的时代,领导力对企业的重要性不言而喻。拥有杰出领导力的领导者不仅能将企业带出困境,更是企业走向成功的关键。本文先就相关的领导理论进行探讨,针对A公司领导力目前存在的问题,如领导力的发展速度没有能跟上企业发展速度,没有清晰的领导力衡量标准等,从探讨建立领导力的胜任力素质模型开始,至选择合适的高潜力管理人员,并对培训体系进行建设等方面,对A公司领导力的提升进行了探讨。 相似文献
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G.C. Eddie 《Long Range Planning》1975,8(5):76-80
This article outlines the potential in the fishing industry viewed from the present. The author argues that current methods are still relatively inefficient and that increases of 50–100 per cent can be expected in the next 10–20 years. Further that these larger catches can contribute markedly to world protein requirements. The article includes consideration of system fishing and concludes with a picture of the British fishing industry being among the most advanced in the world. 相似文献
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