文档介绍：Chapter15 Government Debt and Budget Deficits
The size of the government debt
Problems in measurement
(inflation,capital assets, uncounted liabilities and the business cycle)
The traditional view of government debt
The Ricardian view of government debt (Ricardian equivalence)
Other perspectives on government debt (effects on ary policy, debt and the political process, international dimension)
Conclusion
BD in China (10million RMB)
year 1979 1980 1985 1990 1995 1996
BD
BD/GDP 1
year 1997 1998 1999 2000 2001 2002
BD 2598 3098
BD/GDP 2
Slide 1
Mankiw:Macroeconomics, 4/e © by Worth Publishers, Inc.
Slide 2
Mankiw:Macroeconomics, 4/e © by Worth Publishers, Inc.
Slide 3
Mankiw:Macroeconomics, 4/e © by Worth Publishers, Inc.
Slide 4
Mankiw:Macroeconomics, 4/e © by Worth Publishers, Inc.
Problems in Measurement
Inflation D/D =
Capital assets (capital budgeting 资本预算化)
Uncounted liabilities
The business cycle (a cyclical adjusted budget deficit 按周期调整的预算赤字,the full-employment budget deficit 充分就业的预算赤字)
The Traditional View of Government Debt
Dear CBO Economist:
Congress is about to consider the president’s request to cut all taxes by 20 percent. Before deciding whether to endorse the