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Im Koalitionsvertrag der Bundesregierung ist festgehalten, dass die Details der Schuldenbremse und vor allem die Regeln zur Bestimmung des Produktionspotenzials überprüft werden sollen. Insbesondere die Methodik zur Berechnung der konjunkturellen Defi zite wird diskutiert, da diese...
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The optimisation of the cyclical adjustment procedure under the German debt brake should focus on how to contribute to a democratically legitimate and sustainable fiscal policy. In this article, we discuss four criteria that should be satisfied: The method must (i) be sufficiently determined,...
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In this article, we point out requirements for potential output estimates used for cyclical adjustment in the German debt brake. Further, we propose supplementing the cyclical component in the debt break with an error term - regardless of the specific potential output estimation approach. The...
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In the production function-based approach proposed by the European Commission for the estimation of the potential output, trend total factor productivity (TFP) is indirectly estimated on the basis of cyclical factors. Instead, this article proposes a more economics-based foundation of trend-TFP...
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Potential output is a measure of the longer-term production possibilities of an economy. Since this quantity cannot be observed directly, it must be determined on the basis of assumptions from existing data. The use of a production function was established in the European Commission's procedure...
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Produktionspotenzial durch technologischen Fortschritt und die effiziente Nutzung von Ressourcen zu steigern. Der vorliegende Beitrag … consequences of demographic aging and increasing investment and innovation. Mitigating the aging effects requires measures to … investment and innovation is crucial in order to increase productivity, modernise and expand the capital stock and open up new …
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