《西方经济学原理》Chap 34 Policies for growth and Stability

ECSENOMICS Chapter 34 Policies for growth and Stability McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Chapter 34 Policies for Growth and Stability

ECSENOMICS Actual. Structural t and Cyclical Budget Deficits T259 Figure 34-1 Structral 怎2722 Actral McGraw-Hilllrwin Source: Congressional Budget Office

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. T-259 Figure 34-1 Actual, Structural, and Cyclical Budget Deficits Source: Congressional Budget Office

ECSENOMICS Government Debt Displaces Private Capital T260 Figure 34-2 (a) No Debt (b) With Government Debt 2 3.500 4.000 4.500 3,500 4.500 4.O0 Private capital stock( K) Private capital stock( K) McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Government Debt Displaces Private Capital T-260 Figure 34-2

ECSENOMICS Impact of Government Debt on Economic growth T261 Figure 34-3 Output(no debt) Output(with debt Capital stock (no debt) Capital stock(with debt 1980 Ime McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Impact of Government Debt on Economic Growth T-261 Figure 34-3

ECSENOMICS Economic Progress and Political Freedom. 1972-1998 T262 Figure 34-4 United States Poland South Africa Sout ussia Egypt d 15.000 20,00 0.000 ier capta income( 19975) McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved

McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Economic Progress and Political Freedom, 1972-1998 T-262 Figure 34-4