• Refine Query
  • Source
  • Publication year
  • to
  • Language
  • 35
  • 30
  • 5
  • 2
  • 1
  • Tagged with
  • 38
  • 12
  • 9
  • 8
  • 8
  • 8
  • 7
  • 6
  • 6
  • 6
  • 6
  • 5
  • 5
  • 5
  • 5
  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
31

宋永嘉學派之學術思想

董金裕, DONG, JIN-YU Unknown Date (has links)
本論文凡分為九章,茲述其內容大要如次: 第一章緒論,就永嘉學派之學術立場,及其在當時學術界之地位,說明撰述之旨趣。 第二章為宋永嘉學派學術思想變遷之大勢,蓋一書之綱領,而以說明其學之來龍去脈 ,暨諸代表人物學術思想之重點及其成就與地位,並探討其學風所以轉變,暨其學所 以終歸衰歇之緣由。 第三章為元豐九先生之學術思想,第四章為鄭氏兄弟之學術思想,第五章為薛季宣之 學術思想,第六章為陳傅良之學術思想,第七章為葉適之學術思想,分別論述永嘉學 派各期代表人物之學術思想。初欲分就學術與思想二端論述之。 第八章為宋永嘉學派學術思想之影響,博采前修持賢之說,並附己見,以所處時代與 永嘉諸子之略相同者,略分為南宋末年、明末清初、有清道咸同光、民國以來四期, 述其學對於後世學者,若王應麟、顧炎武、黃宗羲、顏元、萬斯同、全祖望、章學誠 、邵晉涵、孫衣言、詒讓父子、陳黼辰、林損師弟等人之影響,但取其實而有徵者論 述之,期免穿鑿附會之病焉。 第九章結論,略論並時浙東學者,呂祖謙、唐仲友、陳亮之學,皆不足與朱、陸相抗 衡,惟永嘉學則足以與之相頡頏。然永嘉學派之學術思想雖與程、朱等道學家之說有 所出入,惟皆在於明體致用。 上述九章而外,並益以三附錄: 附錄一為宋永嘉學派諸子生平著述年表。 附錄二為宋永嘉學派諸子著述考略,稽考永嘉諸子之著述,並說明其存佚,以明學術 思想之趨向焉。 附錄三為參考書目舉要,列舉撰述本論文所參用之重要書目。 /
32

日治時期三大建設財源籌措之研究 / A study on the funding for three large-scale constructions in Taiwan during the Japanese governance

簡麗芬 Unknown Date (has links)
本文研究日治時期鐵路、水利及電力等三大建設,透過文獻彙整分析,本文試圖瞭解日治時期三大建設資金籌措過程完整面貌,並討論三大建設所採取籌資方式是否符合財政理論。 綜合本文研究結果,發現以下三點: 一、臺灣縱貫鐵路是全由政府以發行事業公債方式籌措資金,發行公債,以維持稅率平滑,使超額負擔極小化,符合效率原則;建設性質屬資本支出,效益及於後代,以發行公債支應資本性支出,符合公平原則。 二、嘉南大圳建設具有外部性,基於外部利益內部化,由政府提供部分補助挹注非自償性建設經費;而部分建設經費由公共埤圳嘉南大圳組合以借款方式籌措資金,於建設完成後再向水利受益人收取水租,符合使用者付費原則。 三、日月潭水力發電廠是由政府投資四成股份,民間投資六成股份,成立民營的臺灣電力株式會社來籌措資金,因電力具有公共性,屬公用事業,應由政府投資部分股份;而電力具有排他性,交由民營會社來興建及營運,於建造完成供電時,再向使用者收取電費,符合享受利益者負擔費用的原則。 日治時期三大建設,融資方式各有不同,但實際籌資情況,尚符合財政理論。
33

二00三年國中英語新版本的教科書評量

林素美, Lin, Su-mei Unknown Date (has links)
本研究旨在調查九年一貫課程實施後,台北縣市國中英語教科書的使用現況及國中英語教師對這些教材的意見。   本研究主要探討的為:(1)國中英語教師選用新版教科書時所強調的標準,(2)各校英語教科書的評選委員與評選程序,(3)國中英語教師對新版英語教科書的滿意度與意見,包括學生習作與教師手冊,(4)更換教科書的原因與結果。   研究對象為五十七所國中的兩百五十三位英語教師。根據問卷調查,目前台北縣市的國中英語教科書有六個版本。   根據資料分析,得到以下主要的發現: 1. 在選教材時,英語教師所秉持的標準依序為合乎課程標準,教材內容,主題多元性,字彙數量,活動設計,插圖,版面,教師手冊,出版商的售後服務、聲望,教科書的第一印象,出版商為教師舉辦的研習,作者的學識等。 2. 各校的評選委員主要由英文老師組成,大多數學校評選教科書的程序為瀏覽各版本教科書,邀請出版商舉辦說明會,及舉行評選會議 。 3. 根據本研究所收集的資料顯示,大多數教師普遍上皆滿意九年一貫課程的新版教科書,但約有一半的教師認為內容太多、太難是他們所遭遇到的最大問題。 4. 根據所收集的資料顯示,有五所學校在第二學期更改教科書。教師們對第一學期所用的教科書不滿意的主要原因為教材內容非常難,內容組織不佳,及課與課之間缺乏連貫性。在更換新教科書後,大部分教師發覺之前教材所衍生的問題都解決了。因此大多數教師在更改教科書後覺得較滿意。 / This study aims to survey English textbook selection of junior high schools in Taipei City and Taipei County after the implementation of the Nine-year Integrated Curriculum and explore English teachers' opinions of these textbooks. This study focuses on the following issues: (1) the criteria highlighted by English teachers when evaluating the new textbooks, (2) the committees and the procedure of English textbook selection in each school, (3) the junior high school English teachers' satisfaction with and opinions about the contents of the new teaching materials, including students’ workbooks and teachers' manuals, (4)the reasons for teachers’ changing textbooks and its consequences. The recruited subjects are 253 junior high school English teachers from 57 schools. According to the questionnaires, there are 6 versions of textbooks used in junior high schools in Taipei City and Taipei County. After data analysis, the main findings are obtained as follows: 1.The criteria highlighted by English teachers when selecting the new textbooks are the correspondence to the curriculum standards, the contents, and a variety of themes. Considered important in sequence to the teachers who responded are the amount of vocabulary, the design of activities, the illustrations, the layout, the content of the teacher’s manual, and the level of service offered by the publisher, the publisher’s reputation, the first impression of the textbook, workshops provided for teachers by a publisher and the expertise of authors. 2.The selection committee in each school is mainly composed of the English teachers and the selection of English textbooks in most schools are done in the procedure of reviewing textbooks, inviting publishers to present their textbooks, and holding selection meetings. 3.According to the questionnaires collected in this study, most teachers were generally satisfied with the new textbooks developed for the Nine-year Integrated Curriculum. The most obvious problem with these new textbooks, according to the questionnaires, is that about half of the English teachers' dissatisfication with too much and too difficult content in the material. 4.Based on the questionnaires, five of the schools change textbooks in the second semester. The main reasons for the dissatisfaction with the first semester textbooks are that the textbooks are overly difficult, poorly organized, and lacking in continuity between lessons. After changing to new textbooks, most teachers find that the problems are solved. Therefore, most teachers are more satisfied after changing the textbooks.
34

藏傳佛教噶瑪噶舉派僧侶「修行」研究-以西藏江達縣宗南寺為例

董凱書 Unknown Date (has links)
佛教「修行」是一句耳熟能詳的語詞,但是對於「修行」的概念卻一直是莫衷一是。本論文從佛教史的發展過程簡略探討修行的概念,並由西藏宗南寺僧侶,以及宗南寺最重要的轉世仁波切-宗南嘉楚仁波切的思想和佛教事業來研究佛教修行的概念,並且比較台灣漢傳佛教主流「人間佛教」的思想,重新賦予現代佛教「修行」的意義。 本論文除了緒論以及結論外,一共有六個章節。分別是第一章佛教「修行」概念的產生與演變,筆者試圖以資料分析的方式,從佛教的小乘、大乘、金剛乘演變及發展過程中,探討佛教「修行」的定義與概念,並從其中找出共通的修行觀念。第二章宗南寺的自然與人文背景,則是筆者深入藏傳佛教噶瑪噶舉派在西藏偏僻山區,拜訪實修為主的宗南寺,以田野調查的方式,訪查當地的自然人文背景及教派淵源、主要祖師及相關的重要人物,作為研究對象的自然及文化背景交代。第三章宗南寺僧侶背景及學習內容,除了介紹宗南寺的僧侶背景外,並對噶瑪噶舉派重要的修行法門「那洛六法」、「大手印」以及宗南寺特有的「耳傳傳承」內容,還有一般出家與在家都非常方便修行的「尼聶」或「紐聶」的修行方法略作介紹,章節最後藉由對長期閉關行者堪千仁波切的訪談與對話,作修行概念與閉關方式之探討,希望能瞭解噶瑪噶舉傳承的傳統「修行」概念。 第四章宗南寺覺姆在亞青寺的學習,則研究宗南寺出家女眾到寧瑪派寺廟亞青寺學習的情形,並藉此探討修行者對不同教派的教法學習,是否產生干擾或矛盾的影響。第五章從寺(山庫寺)的僧侶學習與UTBF(宗南聯合佛教基金會)組織,則是針對宗南嘉楚仁波切-宗南寺最重要的轉世仁波切,目前的佛行事業與修行觀念運用的關係研究。第六章現代文明與古老閉關方式的探討,則針對宗南嘉楚仁波切在現代文明與古老閉關方式的統整融合過程中,對「修行」所做的詮釋,並且參照目前台灣最主要的四大佛教團體關於「人間佛教」的精神加以探討,從而藉此找出佛教適合現代人的修行方式。 本文希望藉此相關研究,定義佛教「修行」概念,並提供現代人適合自己「修行」的觀點。
35

文化創意產業經紀人暨平台價值之探究--以墨色國際,希嘉文化及中子創新為例

蕭穗真, Hsiao, Claire Unknown Date (has links)
研究旨在探討文化創意產業經紀人暨平台在促成供給與需求兩端所能發揮的價值,以及由個案去初探經紀人暨平台不同的樣貌等議題,盼能引起大眾對台灣美學大業支柱一端的經紀人的了解與重視。研究選擇非親屬關係的文化創意產業團隊個案進行探究,包括墨色國際、中子創新以及希嘉文化,藉由半結構式的深度訪談,輔以相關活動的實地觀察以及次級文獻資料的蒐集佐證,進行為期一年的研究。 本研究將「經紀人暨經紀平台」的角色定位為「擔任文創產業創作端與市場端的橋樑,建構文創市場的供給與需求」,研究問題及研究發現如下: 研究問題一:文化創意產業經紀人暨平台在供給端所能發揮的價值為何? 對應結論一: 文創產業經紀人暨平台在供給端所發揮的價值有四點,包括: 一、 辨識創作者潛力並予心理支持, 二、 原創作品商品化與延伸, 三、 決定合作對象並代為談判, 四、 打造並維護品牌。 研究問題二:文化創意產業經紀人暨平台在需求端所能發揮的價值為何? 對應結論二: 文創產業經紀人暨平台在需求端所發揮的價值有四點,包括: 一、 掌握趨勢並創造潮流, 二、 擴大目標客群, 三、 營造購物氛圍與情境, 四、 集結並經營社群。 研究問題三:文化創意產業經紀人暨平台有何不同的樣貌? 對應結論三: 文創產業經紀人暨平台的樣貌不同之處主要有三,包括: 一、 在「服務創作者數量的多寡」及「與創作者關係的緊密度」上的差異, 二、 品牌發展時程與作品延伸程度上的差異, 三、 兩種組合方式(Web 1.0與Web 2.0以及A型人)的差異。 共通點則在於除通曉「創意」與「產業」兩種語言外,對所經營的創意具有高度的認同與熱情。
36

Skildringar av kvinnliga migrantarbetare i kinesisk film : Id-kortet, oskuldsfullheten och temaparken i The world och Angels wear white / Portrayals of Female Migrant Workers in Chinese Cinema : The ID Card, Innocence and the Theme Park in The World and Angels Wear White

Cheng Herelius, Maria January 2023 (has links)
This thesis examines how themes about migrant workers, especially women migrant workers are depicted in the two films The world, Shijie 世界 (2004), directed by Jia Zhangke 贾樟柯 and Angels wear white, Jianianhua 嘉年华 (2017), directed by Vivian Qu, also called Wen Yan 文言. In the background of the thesis the subjects hukou 户口, the system of household registration; the floating population, liudong renkou 流动人口, the people who are not living at the place where they are registered at, according to the hukou system and black hukou, heihu 黑户, the people who lack hukou altogether are discussed. The methods used in the thesis are a qualitative thematic analysis and semiotics. The theories that are the basis of the analysis are Laura Mulvey’s theory of the male gaze, Emirbayer and Mische’s concept of agency and Steven Lukes’s concept of power.    The themes that are explored in this thesis are work, accommodation, the ID card and the passport, the commodification of the female body and women who are sex workers, the female virginity, violence as well as symbols and role models. Both films show that a person’s status as a migrant worker who is lacking an ID card or as a migrant worker who has their hukou elsewhere determines the living conditions of the person in China. Angels Wear White depicts how being in possession of an ID card or not affects whether you get access to healthcare, work opportunities and your housing situation. In The World poor living conditions for the migrant workers are depicted. Both films show differences between the sexes, where women are treated as object of male desire and the female body becomes an object that can be bought by means of money or services. The female’s virginity before marriage is valued greatly, which affects the young women migrants’ experiences in the film.    Some symbols that appear in the film are the white dress, that symbolizes a female ideal, the ID card and the passport that are symbols of social as well as physical mobility in Chinese society, lastly the theme park is a symbol of the dreams and desires that are being shaped in contemporary China.   Keywords: “the floating population”, “hukou”, “female migrant workers”, “The World”, “Angels Wear White” / Den här uppsatsen undersöker vilka teman kring migrantarbetare, särskilt kvinnliga migrantarbetare skildras i the två filmerna The world, Shijie, 世界 (2004), regisserad av Jia Zhangke 贾樟柯och Angels wear white, Jianianhua嘉年华 (2017), regisserad av Vivian Qu också kallade Wen Yan 文言. I bakgrunden beskrivs bland annat hushållsregistreringssystemet hukou 户口; den flytande befolkningen liudong renkou 流动人口, de personer i Kina som inte bor på den plats som de är registrerade på enligt hukou-systemet samt heihu 黑户, svart hukou, de personer som helt saknar hukou.     Metoden för studien är en kvalitativ filmanalys som grundar sig på en tematisk analys och semiotiken. Teorier som används i analysen är Laura Mulveys teori om den manliga blicken, Emirbayer och Misches begrepp som beskriver agens samt Steven Lukes maktbegrepp.    De teman som behandlas i uppsatsen är jobb, boende, id-kortet och passet, kommodifiering av kroppen och kvinnor som säljer sex, den kvinnliga oskulden, våld samt symboler och förebilder. De båda filmerna skildrar hur en persons status som migrantarbetare utan hukou eller status som migrantarbetare med hukou på en annan plats påverkar personens levnadsvillkor i Kina. I Angels wear white skildras hur id-kortet eller avsaknaden av id-kortet påverkar möjligheten att uppsöka vård, möjligheterna till anställning och boende. Även i The world har migrantarbetarna erfarenheter av boenden som är undermåliga. I båda filmerna uppvisas skillnader mellan könen, där kvinnor blir objekt för manlig åtrå och där det finns exempel på när den kvinnans kropp och sexualitet blir en vara som kan köpas med pengar och tjänster. Kvinnans oskuld innan äktenskapet värderas högt, vilket påverkar de unga kvinnliga migrantarbetarnas erfarenheter i de två filmerna.     Flera symboler framträder i filmerna, den vita klänningen fungerar som en symbol för kvinnoideal, id-kortet såväl som passet fungerar som symboler för social och fysisk rörlighet i det kinesiska samhället och temaparken blir en symbol för de begär och drömmar som formas i Kinas samtid.
37

基改種子專利到期對於基因改造作物產業之影響-以Monsanto抗嘉磷塞轉基因大豆為例 / The patent expiration of genetic modified seeds and its impact to the agricultural biotech industry- a case study of Monsanto’s roundup ready soybeans

林家綺, Lin, Chia Chi Unknown Date (has links)
面對未來全球人口成長、可耕地減少等現象,生物技術在農業上的應用日益增加。其中,基因改造技術等基因層次相關的平臺應用技術更是提升農作物價值的關鍵—透過跨物種功能應用,大幅提升育種效率。自1996年基改作物商業化種植開始至今,美國都是全球最大種植國家,也是基改作物研發先驅國家。生技農業政策以及和基因改造作物有關法規之制訂使基改作物在美國蓬勃發展,尤其是專利保護對於種子產業之影響尤為深遠。專利權所提供的完善保護使大量資本進入種子產業,投入資源將農業生物技術應用於種子培育上,此舉也促成Monsanto等跨國農業生技公司之興起,主導全球基因改造作物之市場。 Monsanto將研發重心放在基改種子之研發,其在生技種子相關營業比重遠高於同業,同時,其投入特殊性狀之基改種子研發之回收遠高於其他公司之相同營業項目之投資報酬率。Monsanto積極藉由併購取得基因、基因轉殖技術以及種子種源。掌握關鍵基因、基因轉殖技術以及大量且優良種源使含有Monsanto轉殖基因作物在市場上佔有極大的比例。在美國,超過一半以上之主要作物種植面積為基因改造作物,尤其是基因改造大豆,佔大豆總種植面積之比例高達94%。市面上絕大多數基改大豆係Monsanto的抗嘉磷塞(RounupReady,RR1Y)基改大豆種子。藉由智慧財產保護策略,Monsanto並進一步限制RR1Y及其他基改作物之使用方式。 惟RR1Y專利將在2014年到期,農民可在2014年時留種種植基改大豆種子而不用每年購買種子,或購買學名(generic)抗嘉磷塞轉基因大豆種子。在美國所種植之大豆約有四成會外銷,而外銷國家基改作物規範法規是出口與否之關鍵。若未取得歐盟、中國等主要外銷國家基改作物主管機關之批准,呈交包括基因之轉殖植物對環境衝擊之風險評估、包含該基因之轉殖植物所製成食品之安全性評估等基改作物資訊,則抗嘉磷塞基因大豆無法進入該國糧食市場。然而,在目前美國農業生技基改作物相關規範下,學名基改種子廠必須在專利種子專利到期後,才能進行實驗及田間試驗,呈交相關資料以符合基改作物主管機關之要求。透過建立學名基改作物快速獲得核准查驗登記之程序,允許學名廠依賴專利基改作物原廠之實驗及田間試驗資料以建立其學名基改作物之安全性與性狀表現有效性,同時,允許學名基改作物在原基改作物開發廠專利期滿前即可開始進行試驗,可以使學名抗嘉磷塞大豆種子以及其他學名基改種子能在原專利基改作物種子專利到期後順利進入市場,促使基改作物種子價格競爭,並對於專利基改作物研發公司進行適度之補償,以促進產業發展。 / The development of new technologies in plant breeding has led to improvements in the efficiency scientists produce improved plant varieties. Genetic modification is among the developments that support plant breeding. The introduction of genetically modified crops has revolutionized the agriculture industry. With patent protection available on GM traits, varieties and other aspects of seed production, private R&D investments in the seed industry have increased tremendously. Monsanto has been the leading company in investing agricultural biotechnology and has obtained a dominant position in the GM traits found in soybeans, cotton, corn and other commercialized crops. Currently, over 90 percent of soybeans planted in the United States were herbicide-resistant, with Monsanto’s Roundup Ready being the dominant soybeans planted. In 2014, however, the agriculture industry will be facing the expiration of a patent for Roundup Ready soybeans. Despiate the fact that the patent expiration date is approaching, the agricultural biotech industry has no guideline in place to tell its players exactly how to transition seamlessly from patent monopolies to generic competition. The transition problem is espectially significant for soybeans exported to oversea markets as more than 40 percent of the soybeans grown in the U.S. are exported. In order for those soybeans to be accepted in the grain channel, regulatory approvals are required in countries that import soybeans. Obtaining data, which includes scitific data on the trait being developed, for regulatory approvals can take years to complete. If a generic trait is to reach market immediately after the original trait go off patent, the data generation process should begin before patent expiration. A Hatch-Waxman type patent infringement defense for activities necessary to obtain regulatory approvals for biotech traits can ensure that seed companies have sufficient time to obtain registrations for a generic Roundup Ready trait or other generic traits. Current legislation should be modified to adequately oversee the transition to the generic use of genetically modified crops and, in the mean time, ensure the availability of generic modified crops.
38

反饋法則下財政政策之總體效果 / The Macroeconomic Impact of Fiscal Policy with Feedback on Debt

莊汜沂, Chuang, Szu Yi Unknown Date (has links)
思及當前捉襟見肘的財政窘境,無可避免地,債台高築的臺灣實陷入飲鴆止渴般以債養債之無限迴圈中,導致政府政策效能不彰、社會福利運作生弊亦無可厚非;於『公共債務法』之財政規範下,臺灣業已瀕臨法定舉債門檻,故不論是對短期政府支出之排擠、扭曲性稅率之稽徵抑或對長期經濟成長的斲傷,皆是身為中華民國國民真正惶悚不安之所在。 職是之故,本研究係採用一納入政府財政部門及貨幣當局之擴充『實質景氣循環模型』,藉以Sidrauski(1967)所提出的貨幣效用函數為出發點,將實質餘額引進理論模型,並透過計量操作捕捉實證期間起於西元1971年第一季迄至2007年第四季之政府政策函數,過程中,我們不難發現政府購買性支出及稅率皆存在相當的持續性,且對政府未償公債餘額之高低作出某種程度的反應。亦即,若政府實施公債融通政策,俾使期初公債餘額較高之際,則本期甚或往後各期的政府支出將遭受抑制和排擠,尤有甚者,政府勢必擬以提高未來稅率以茲挹注該債務之還本付息所造成的財政缺口;是以,本研究著眼於引進公債餘額對政府支出及稅率存在反饋作用下,財政政策與貨幣政策之總體效果及各總體變數之動態調整過程的風貌。即便公債發行或賒借為政府提供一財務週轉工具以裨益財政政策保有更靈活之彈性,然據模型所產生的結果顯示,就長期而論,政府必須維持一穩定之未償公債餘額,即公債水準具備『均數復歸』性質,而該財政目標係透過削減未來政府支出、調整扭曲性稅率及鑄幣稅融通政策方得以達成預算平衡,準此,該設定將造成公債融通之減稅政策對經濟體系具有實質效果,『公債融通』管道亦『非中立性政策』,從而傳統『李嘉圖等值定理』於本模型中無法成立。 就政策面層次而言,本研究試圖放寬『反饋法則』與政策係數之設定,以檢視透過不同程度之政府支出、稅率甚至貨幣供給途徑的改變來平衡因增加公債發行所造成的財政赤字,對經濟體系之長短期效果有何迥異處;是文亦藉由衝擊反應函數分別探討於政府支出增加、減稅措施及貨幣擴張之下,政策的傳遞機制與各總體變數之動態性質,顯然地,就高債務比率前提下,當政府戮力於刺激景氣而欲積極實施立竿見影的總體經濟政策之際,卻常因狃於急效而欲速不達,非但政策效果有限,亦可能使體系落入更為不景氣的田地,從而,財政惡化不啻為經濟危機的導火線也就不言而喻。再者,貨幣政策對體系之實質變數具有一定程度的作用,是故,本模型於短期內無法一窺『貨幣中立性』之堂奧,唯長期始得以復見。總括言之,政府亟須奉『健全財政』為圭臬,擬定政策時更得戒慎恐懼,並適切權衡利弊得失,以茲裨益有更具信心的經濟表現。 此外,本研究亦透過『效準』實驗以評估模型『配適度』之良窳,即便於反覆疊代法下,該模擬表現係瑕瑜互見而不盡完美,卻也大抵符合景氣循環之『典型化特徵』;然就實質景氣循環模型所為人詬病之勞動市場一隅而論,引進公債之反饋法則下的財政政策操作,無疑地改善了傳統工時與工資率動輒高度正相關之本質,從而獲致相對較低之理論相關係數,亦朝實證資料所呈現工時與工資率存在幾近零相關甚或低度負相關之表徵更邁進一大步。 / With current financial difficulties beyond government capability, it is inevitable that the already deep-in-debt Taiwan opted for momentary relief by paying debt through debt financing and ended up in an infinite loop, causing spiral-down performances in government policies and faulty operations of social welfare instruments. Taiwan has been on the verge of reaching the statutory upper limit of debt financing according to “The Public Debt Act” regulations and all nationals are becoming anxious about such impacts as crowding out of short-run government spending, levying of distorting taxes, and damages on long-run economic growth. To better understand the debt’s impacts, this research uses the “Real Business Cycle Model” extended by taking government treasury agency and monetary institution into account. Starting with Money In Utility Function (MIUF) as proposed by Sidrauski (1967) to introduce real money balance into the theoretical model and, in the process of econometric manipulation, to detect empirical governmental policy functions in the period between the first quarter, 1971 and the fourth quarter, 2007, it is not hard to discover that there are considerable persistence in both government purchases and tax rates, with manifestation of certain degree of responses to the total amount of outstanding bonds the government has yet to pay. In other words, a governmental bond financing policy designed to render high initial bonds outstanding tends to cause suppression and crowding out of government spending in current and even later periods. Furthermore, the government is bound to plan on raising taxes in the future in order to cut financial deficit gap caused by paying back the principles and interests of the debt. Therefore, this study focuses on presenting the macroeconomic effects of fiscal policies and monetary policies, as well as the dynamic adjustment processes of macroeconomic variables based on the impact of feedback effect of bonds outstanding on government spending and tax rates. Even thought public bonds issuance or debt financing serves as a governmental fiscal instrument for financial turnover to ensure flexibility of fiscal policies, our model shows that the government should, from a long-run perspective, maintain a stable amount of bonds outstanding. Put in a different way, the level of bonds outstanding shows “mean-reverting” characteristics which rely on future government spending cut, distorting tax adjustment and seigniorage financing policy to achieve balance of budget. As a result, such setup would cause the bond-financing backed tax deduction policies to create practical effects on economies and, as the bond financing instruments are “Non-Neutrality” policies, would render the “Ricardian Equivalence Theorem” invalid in our model. In the policy aspect, this study tries to relax both “feedback rules” and setup of policy parameters for investigating the differences between long-run and short-run effects on the economy by different degrees of changes in government spending, tax rates and even money supply channels which are used to balance the fiscal deficit caused by increased bond issuance. This article also studies, through the impulse response function, the policy propagation mechanism and the dynamics of key macroeconomic variables under the situation of government spending increase, tax deduction and monetary expansion. It is obvious that the government, in the case of high debt ratios and when making all endeavors to spur economy by implementing macroeconomic policies aimed for instant results, is accustomed to seeking quick fixes only to achieve very limited effects, sometimes even to drive the economy into further recession. It is therefore evident that fiscal degradation could lead to economic disaster. Moreover, as the monetary policies have certain degrees of influence on real variables of the economy, this model will not be able to clearly analyze the “neutrality of money” in such a short period of time. The effect will only reveal in the long run. In summary, the government should keep “sound finance” as the highest guiding principle and be extremely cautious in formulating policies in order to weigh all pros and cons discreetly, thus help to achieve a benefiting economic performance that generates more confidence. Furthermore, this study assesses “goodness of fit” of the model through a “calibration” experiment. Although the simulation results show, under recursive method, intermingled good and poor occasions that are beyond satisfaction, they generally agree with the “typical characteristics” of business cycles. However, in the aspect of long-criticized labor market of the real business cycle model, the fiscal policy operation under feedback rules with introduction of public debts for sure has greatly improved on the conventional intrinsic property of high correlation between labor hours and real wage rates, by delivering a relatively low theoretical correlation coefficient, which is a big step towards the empirical results of almost zero or even weakly negative correlation between labor hours and real wage rates.

Page generated in 0.0191 seconds