The business cycle implications of land financing in China
作者： Shen Guo , Lezheng Liu , Yan Zhao
DOI: 10.1016/J.ECONMOD.2014.12.033
关键词:
摘要: Abstract In the past decade, Chinese government was increasingly relying on revenues from land sales to finance public spending. This paper examines impacts of financing business cycle fluctuations in China an estimated DSGE model. The simulation results indicate that overall effect is increase by 12.6%. However, depend shocks hitting economy. policy implication this cutting direct linkage between expenditure and could mitigate fluctuations.
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