本篇論文比較四種政府融通方式之下的長期經濟成長率。模型為一個貨幣進入效用函數、勞動供給具有彈性以及生產具有外部性的單部門內生成長模型。政府可以選擇四種融通方式：租稅融通、公債融通、貨幣融通與混和融通來融通政府支出。主要發現為：在貨幣融通之下長期經濟成長率最高，其次依序為混和融通、租稅融通，而在公債融通之下最低。

This paper follow the model of Ho, Zeng and Zhang (2007) to compare four kinds of government financings from the perspective of long-run economic growth rate. We find that the growth rate under money financing is the highest, and then under mix financing, under tax financing, and under bond financing are in order.

Content
1. Introduction......................1
2. Literatures review................2
3. The Model.........................3
  3.1 Household......................4
  3.2 Firm...........................7
  3.3 Government.....................7
4. Long-Run Analysis................12
  4.1 Steady-state conditions.......12
  4.2 The tax rate..................15
  4.3 The leisure...................17
  4.4 The economic growth rate......23
5. Conclusion.......................24
Reference...........................26

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