级宏观课件4储蓄投资和金融体系.pptVIP

* * * * * * * * * * * * * * * * * * * * * * * * * * * * Note that the 2010 debt figure, at 63.6% of GDP, is higher than at any time besides WW2, including all other wars. From the beginning of this long time series until about 1980, the data show a clear pattern: the debt-GDP ratio jumps up during wartime, and comes back down during peacetime. (Also, the Great Depression caused revenues to plummet, and led to a rise in the debt ratio during the 1930s.) There are two reasons why many economists believe it is appropriate to allow the debt ratio to climb during wars. First, it allows the