Das Urteil des Bundesverfassungsgerichts vom 15. November 2023 zum zweiten Nachtragshaushalt 2021 hat die Haushaltsplanung der Bundesregierung durcheinandergewirbelt. Der Nachtragshaushalt wurde als nicht mit der Schuldenbremse vereinbar angesehen. Das Urteil hat nicht nur Auswirkungen auf den...

In many countries, fiscal policy became strongly expansionary in order to fight the recession. Structural budget deficits increased sharply and might remain high after the end of the recession. This would raise real interest rates and would impair economic growth. Some measures to reduce the...

In many countries, fiscal policy became strongly expansionary in order to fight the recession. Structural budget deficits increased sharply and might remain high after the end of the recession. This would raise real interest rates and would impair economic growth. Some measures to reduce the...

Is government ideology important for fiscal policy? I study this question with data from all German States over the period 1975-2005. To identify the effect of ideology, I rely on a fuzzy regression discontinuity design. I find that left-wing state governments spend more than state governments...

Since the new German federal government has imposed tight fiscal policy restrictions on itself, a pragmatic approach is needed to finance the spending requirements of the transformation. The financing instruments mentioned in the coalition agreement appears to be suitable in principle for...

The German federal government is facing criticism for using the exemption from the national debt brake due to the coronavirus crisis to expand the fiscal leeway for its future energy and climate policies. The budget dispute is taking place against the backdrop of a massive expansion of...