Staaten versinken im Schuldensumpf, Sparer werden mit Negativzinsen enteignet, Volksparteien verlieren dramatisch an Zustimmung. Die Symptome sprechen eine beunruhigende Sprache. Stehen wir vor einem sogenannten perfekten Sturm, bei dem verschiedene Komponenten ungünstig zusammentreffen und...

This paper looks at fiscal sustainability and fiscal risks from a comprehensive, global perspective. It argues that the benefits of consolidation have to be re-assessed given that industrialised countries have entered uncharted waters with unsustainable public debt dynamics and enormous...

This paper presents a comprehensive cross-country database of fiscal space, broadly defined as the availability of budgetary resources for a government to service its financial obligations. The database covers up to 200 countries over the period 1990-2016, and includes 28 indicators of fiscal...