伯南克宏观经济学ch

《伯南克宏观经济学ch》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。

1、Chapter15GovernmentSpendinganditsFinancingChapterOutlineTheGovernmentBudget:SomeFactsandFiguresGovernmentSpending,Taxes,andtheMacroeconomyGovernmentDeficitsandDebtDeficitsandInflationTheGovernmentBudget:SomeFactsandFiguresGovernmentoutlays;threecategoriesofgovernmente

2、xpendituresGovernmentpurchases(G)Transferpayments(TR)Netinterestpayments(INT)Also:Subsidieslesssurplusesofgovernmententerprises;relativelysmall,soweignoreitTaxesFourprincipalcategoriesPersonaltaxes(incometaxesandpropertytaxes)ContributionsforsocialinsuranceTaxesonprod

3、uctionandimportsCorporatetaxesTheGovernmentBudget:SomeFactsandFiguresTaxesThecompositionofoutlaysandtaxes:theFederalgovernmentversusstateandlocalgovernmentsThecompositionoftheFederalgovernmentbudgetisquitedifferentfromstateandlocalgovernmentbudgets(Table15.2)TheGovern

4、mentBudget:SomeFactsandFiguresTable15.2GovernmentReceiptsandCurrentExpenditures,2005DeficitsandsurplusesWhenoutlaysexceedrevenues,thereisadeficit;whenrevenuesexceedoutlays,thereisasurplusThetotaldeficittellstheamountthegovernmentmustborrowtocoverallitsexpendituresdefi

5、citoutlays–taxrevenuesgovernmentpurchasestransfers+netinterest–taxrevenuesGTRINT–T(15.1)TheGovernmentBudget:SomeFactsandFiguresDeficitsandsurplusesAnotherusefuldeficitdefinitionistheprimarygovernmentbudgetdeficit,whichexcludesnetinterestpayments(paymentsforpast

6、governmentspending)Theprimarydeficittellsifthegovernment’sreceiptsareenoughtocoveritscurrentpurchasesandtransfersprimarydeficitoutlays–netinterest–taxrevenuesgovernmentpurchases+transfers–taxrevenuesGTR–T(15.2)TheGovernmentBudget:SomeFactsandFiguresFigure15.3There

7、lationshipbetweenthetotalbudgetdeficitandtheprimarydeficitDeficitsandsurplusesAnothersetofdeficitconceptsThecurrentdeficitequalsthedeficitminusgovernmentinvestmentTheprimarycurrentdeficitequalstheprimarydeficitminusgovernmentinvestment,whichequalsthecurrentdeficitminu

8、sinterestpaymentsTheGovernmentBudget:SomeFactsandFiguresGovernmentSpending,Taxes,andtheMacroeconomyFiscalpolicyandaggregated