什么是财政投入乘数：中英双语解读

中文版：

财政投入乘数，也称为财政支出乘数，是经济学中的一个重要概念。它表示政府增加一定数量的财政支出时，对国民经济总需求所产生的连锁反应和倍增效应的大小。换句话说，当政府增加一定的财政支出时，不仅直接刺激经济增长，还会通过一系列的经济活动，如增加就业、提高消费和投资等，进一步推动经济增长。

财政投入乘数的大小取决于多种因素，如经济的开放程度、货币政策、消费和投资的敏感性等。通常情况下，一个较大的财政投入乘数意味着政府增加财政支出对经济的刺激作用更为显著。因此，政府在制定财政政策时，通常会考虑财政投入乘数的大小，以确定最佳的财政支出规模和结构。

然而，需要注意的是，财政投入乘数并不是无限大的。当政府增加财政支出超过一定限度时，可能会导致通货膨胀、资源浪费等问题。因此，政府在制定财政政策时，需要在刺激经济和防范风险之间取得平衡。

英文版：

What is Fiscal Multiplier: A Comparative Reading in Chinese and English

The fiscal multiplier, also known as the fiscal spending multiplier, is an important concept in economics. It represents the size of the连锁反应 and multiplier effect on the aggregate demand of the national economy when the government increases a certain amount of fiscal expenditure. In other words, when the government increases fiscal spending, it not only directly stimulates economic growth but also further boosts economic growth through a series of economic activities, such as increased employment, higher consumption, and investment.

The size of the fiscal multiplier depends on various factors, including the openness of the economy, monetary policy, and the sensitivity of consumption and investment. Typically, a larger fiscal multiplier indicates that the stimulatory effect of increased government fiscal expenditure on the economy is more significant. Therefore, when formulating fiscal policy, governments often consider the size of the fiscal multiplier to determine the optimal scale and structure of fiscal expenditure.

However, it's crucial to note that the fiscal multiplier is not infinitely large. When government fiscal expenditure exceeds a certain limit, it may lead to issues such as inflation and waste of resources. Therefore, when formulating fiscal policy, governments need to strike a balance between stimulating the economy and preventing risks.