TAILIEUCHUNG - Lecture note Public finance (10th Edition) - Chapter 20: Deficit finance

In this chapter, the following content will be discussed: When government spending > revenues, it must borrow money: debt is the sum of past deficits & surpluses; economic research centers on whether future generations carry the burden of government debt; several factors influence whether government should finance expenditures through taxes or debt;. | DEFICIT FINANCE Chapter 20 How Big Is the Deficit? Deficit Surplus On-budget deficit Off-budget deficit 20- How Big Is the Deficit? Source: Congressional Budget Office [2012b] 20- How Big Is the Debt? National (Public) Debt Stocks vs. Flows 20- How Big Is the Debt? Source: Congressional Budget Office [2012b] 20- Interpreting Deficit, Surplus, and Debt Numbers Government Debt held by the Federal Reserve Bank State and Local Government Effects of Inflation Inflation tax Capital versus Current Accounting Tangible Assets Implicit Obligations Summing Up 20- The Burden of the Debt Statutory versus Economic Incidence One Hand Borrows from the Other Internal Debt External Debt 20- Overlapping Generations Model The Period 2010-2030 Young Middle-Aged Old (1) Income $12,000 $12,000 12,000 (2) Government Borrowing -6,000 -6,000 (3) Government- provided consumption 4,000 4,000 4,000 The Year 2030 Young Middle-Aged Old (4) Government raises taxes

• Tài chính doanh nghiệp
• Public finance
• Lecture Public finance
• Public Economics
• Interpreting deficit
• Burden of the debt
• Neoclassical model
• Federal system
• Fiscal federalism
• Public expenditure
• Public good
• Public spending
• Public education
• Tiebout model
• Public sector economics
• Federal government
• The corporation tax
• Tax equity
• Public goods
• Public services
• Inflation taxation
• Education Increase Earnings
• Public education improves quality
• Political economy
• Median voter model
• Special interest
• Public economy
• Legal framework
• Local governments
• Market mechanism
• Coase Theorem
• Public Responses
• Public employees
• Representative democracy
• Tools of positive analysis
• Positive analysis
• Empirical work
• Normative analysis
• Tools of normative analysis
• Welfare economics
• Nature of externalities
• Graphical analysis
• Cost benefit analysis
• Internal rate
• Benefit cost ratio
• Health care market
• Social insurance
• Risk pooling
• Moral hazard
• Market for health care
• Private health insurance
• Health insurance
• Social security
• Benefit structure
• Savings behavior
• Income redistribution
• Distributional dataissues
• Income inequality
• Expenditure programs
• Expenditure programs for the poor
• Work incentives
• Income distribution
• Tax incidence
• Partial equilibrium models
• Tax on consumption bundle
• Excess burden
• Demand curves
• Equitable taxation
• Optimal commodity taxation
• The ramsey rule
• Personal income tax
• Haig simons income
• Capital gains
• Personal taxation
• Human capital accumulation
• Labor supply