曼昆宏观经济学课件mankiw7e_chap16.pptVIP

Government Debt and Budget Deficits;;Indebtedness of the world’s governments;Ratio of U.S. govt debt to GDP;The U.S. experience in recent years;The U.S. experience in recent years;The troubling long-term fiscal outlook;Percent of U.S. population age 65+;U.S. government spending on Medicare and Social Security;CBO projected U.S. federal govt debt in two scenarios;Problems measuring the deficit;MEASUREMENT PROBLEM 1: Inflation;MEASUREMENT PROBLEM 1: Inflation;MEASUREMENT PROBLEM 2: Capital Assets;MEASUREMENT PROBLEM 3: Uncounted liabilities;CASE STUDY: Accounting for TARP;CASE STUDY: Accounting for TARP;MEASUREMENT PROBLEM 4: The business cycle;MEASUREMENT PROBLEM 4: The business cycle;;The bottom line;Is the govt debt really a problem?;The traditional view;The Ricardian view;The logic of Ricardian Equivalence;Problems with Ricardian Equivalence;Evidence against Ricardian Equivalence?;Evidence against Ricardian Equivalence?;OTHER PERSPECTIVES: Balanced budgets vs. optimal fiscal policy;OTHER PERSPECTIVES: Fiscal effects on monetary policy;OTHER PERSPECTIVES: Debt and politics;OTHER PERSPECTIVES:International dimensions;CASE STUDY:Inflation-indexed Treasury bonds;;;;