Die gegenwärtige Finanzkrise und die zu ihrer Eindämmung verabschiedeten staatlichen Hilfsprogramme treiben die Staatsschulden in die Höhe. Wann und mit welchen Maßnahmen sollte mit der Haushaltskonsolidierung begonnen werden? Nach Ansicht von Hans Fehr, Universität Würzburg, kann die...

Durch das Vorziehen der dritten Stufe der Steuerreform auf das Jahr 2004 entstehen Steuerausfälle bei Bund, Ländern und Gemeinden in Höhe von 15,6 Mrd. €. Sollte diese Summe durch eine höhere Neuverschuldung gegenfinanziert werden, muss man nach Ansicht von Prof. Dr. Wolfgang Wiegard,...

This paper explores the links between institutional arrangements and fiscal performance in" Latin America. We consider four measures of fiscal performance, namely expenditures, the size of fiscal deficits and debt, and the response of fiscal policy to business" fluctuations; and two...

In this paper we collect detailed information on the budget institutions of Latin American countries. We classify these institutions on a `hierarchical'/'collegial' scale, as a function of their transparency and the existence of legislative constraints on the deficit. We then show that...

We refer to the idea that government must 'tighten its belt' as a necessary policy response to higher indebtedness as the household fallacy. We provide a reason to be skeptical of this claim that holds even if the economy always operates at full employment and all markets clear. Our argument...

The unprecedented rise and persistence of large-scale budget deficits in many developed and developing nations during the past three decades has caused great concern. The widespread presence of such deficits has proved difficult to explain. Their emergence in otherwise diverse nations defies...