公债管理政策有效性的理论分析  

A Theoretical Analysis of the Effectiveness of Public Debt Management Policy

作　　者：宋永明[1] 梁春满[2] 

机构地区：[1]中国社会科学院财税研究中心,北京100836 [2]中国人民银行总行银行管理司,北京100800

出　　处：《财经研究》2003年第8期15-21,共7页Journal of Finance and Economics

摘　　要：本文将传统的李嘉图等价定理引入到公债管理政策的分析中,建立了公债管理政策的无效性假说,并在此基础上分析得出成立的前提条件,最后通过检验得出:无效性假说所隐含的大多数前提条件与现实并不相符,因而政策无效性的命题在实践中并不成立。Introducing conventional Rivardian Equivalence Theorem into the analysis of debt management policy,the paper founds an ineffectiveness hypothesis of pulic debt management policy,and then on this basis,it puts forward essential prerequisites with which policy ineffectiveness hypothesis holds.Testifying the prerequisites one by one,it finally arrves at a conclusion that the policy ineffectiveness hypothesis is untenable in real economic practice because most of the underlying prerequisites are unrealistic.

关 键 词：公债管理政策 政策无效性 预算约束 李嘉图等价定理 

分 类 号：F810.5[经济管理—财政学]