山口経済学雑誌

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山口経済学雑誌 Volume 52 Issue 3
published_at 2004-03-31

Toward the economics of balance sheet

バランスシートの経済学
Umada Tetsuji
fulltext
510 KB
C050052000312.pdf
About This Article
Descriptions
The purpose of this paper is to show you a simple macroeconomic model considering balance sheets. Most economic model deals with the flow aspects of economy. But stock aspects should be considered. The conclusions of this paper are as follows. In some cases there is no effect of multiplier. Reducing income tax doesn't increase GDP. When the central bank buys bonds, the level of GDP doesn't increase.
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