Sparpolitik als Antwort auf Finanzmarktkrise und Staatsschuldenkrise? Ein amerikanischer Professor für Internationale Wirtschaftspolitik zeigt in einer historischen und aktuellen Studie die unvermeidbar negativen Folgen der heute in Europa weit verbreiteten Politik auf. (Jürgen Plieninger)

General government deficit is defined as the balance of income and expenditure of government, including capital income and capital expenditures. "Net lending" means that government has a surplus, and is providing financial resources to other sectors, while "net borrowing" means that government...

Accounting conventions usually leave some room for judgment, which governments may be tempted to take advantage of, especially when fiscal rules bite or threaten to do so. The European experience over the past decade -- documented here in great detail -- illustrates that fiscal gimmicks come in...

Using the model derived by Bajo-Rubio (2014), this paper estimates government budget balance-consistent growth rates for the euro area countries. A comparison of these estimates to their actual growth rates indicates that most of these countries are growing at rates that are very similar to...