The concept of debit and credit balances implies that the state's financing deficit can be reduced only when the business sector and the foreign sector at the same time assume more debts or when private households reduce their surplus. This working paper investigates how economic policy can...

The concept of financial balances implies that the general government balance can be improved only if the enterprise sector and the foreign sector simultaneously increase their financial deficits and the household sector cuts its surplus. This paper explores how these adjustments can be...

Das Konzept der Finanzierungssalden impliziert, dass das Finanzierungsdefizit des Staates nur verringert werden kann, wenn sich gleichzeitig der Unternehmenssektor und das Ausland stärker verschulden oder die privaten Haushalte ihren Überschuss verringern. Dieses Working Paper untersucht, wie...