Crowding-Out Hypothesis Versus Ricardian Equıvalence Proposition: Evidence From Literature

Bir ekonomide devlet harcamalarının hacmi zaman içerisinde giderek artmaktadır. Söz konusu harcamaları finanse etmek için kamu gelirlerinin de artmasi gerekmektedir. Vergi gelirlerinin harcamaları karşilamada yetersiz kalması, yeni vergiler koymak ve/veya mevcut vergi oranlarını arttırmak ise politik olarak arzulanmadığı göz önünde tutulduğunda borçlanmak yegane seçenek olarak kalmaktadır. Bu makalenin amacı, zikredilen konuda "crowding out hipotezi" ile "Ricardian equivalence proposition" (Rikardocu denklik önerisi) olarak literatürde yer alan önemli iki yaklaşımın literatür çalişması yapılarak kamu borçlanmasının bu bağlamda ekonomik sonuçlarını değerlendirmektir.

Crowding-Out Hipotezine Karşı Rikardocu Denklik Önerisi: Literatürden Deliller

The size of government expenditure in an economy grows over time. To finance these expenditures, public incomes must grow as well. Given that tax revenues are not sufficient for such spending and levying new taxes and/or increasing current tax rates are not politically desirable, the only option left is to borrow. The purpose of this paper is to survey the two most important approaches, "crowding out hypothesis" and "Ricardian Equivalence proposition", in the literature, and evaluate the economic consequences of public borrowing.

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