【摘要】 本文利用传统的IS-LM模型对开放经济下稳定性财政政策有效性的边界条件进行了分析,得出稳定性财政政策有效性的三个必要条件,一是利率上升的收入效应必须小于其替代效应,这是保证IS曲线斜率为负的必要条件;二是货币供给的利率弹性高于私人部门货币需求的利率敏感性,这是保证LM曲线斜率为正的必要条件;三是财政政策对私人部门需求的挤出效应要小于财政政策力度,这是保证财政政策对总需求的净效应大于零的必要条件。只要满足这三个条件,稳定性财政政策总是有效的,其有效程度取决于乘数的规模和政策力度净强度。更多还原

【Abstract】 This text utilizes traditional ISLM model to analyze the border terms of efficacy on stabilizing fiscal policy in an open economy, it concludes three requirements of efficacy:income effect elicited by rising interest rate must be smaller than its substitute effect, which guarantees that IS curve’s slope is negative;elasticity of interest rate of currency supplies is higher than sensitiveness of interest rate of the private sector’s monetary demand, which guarantees that LM curve’s slope is positive; crowdingout effect should be below the intensity of fiscal policy, which guarantees that the net effect of fiscal policy is greater than 1.Only to meet three conditions above, stabilizing fiscal policy could be effective, which efficacy depends on the scale of the multiplier and net intensity of fiscal policy.更多还原