Aufgrund der seit langem geführten Debatte um das Für und Wider der Nutzung des Politikinstruments der Staatsverschuldung wissen wir recht viel darüber, was Experten (z. B. Finanzpolitiker/‌-‍wissenschaftler) von Haushaltskonsolidierung, Deficit-Spending oder Verschuldungsgrenzen halten....

The main focus of this paper is the relation between the cyclical components of total revenues and expenditures and the budget balance in France, Germany, Portugal, and Spain. We try to uncover past trends behind the development of public finances that contribute to explaining the current stance...

The main focus of this paper is the relation between the cyclical components of total revenues and expenditures and the budget balance in France, Germany, Portugal, and Spain. We try to uncover past trends behind the development of public finances that contribute to explaining the current stance...

The main focus of this paper is the relation between the cyclical components of total revenues and expenditures and the budget balance in France, Germany, Portugal, and Spain. We try to uncover past trends behind the development of public finances that contribute to explaining the current stance...

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...

This paper explores the factors behind the time path of real spending and revenue in the West German states from 1975 to 2004. The empirical approach stresses robustness and takes into account a large set of economic and political variables. Our results suggest that common economic factors and,...

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 a bold legislative move, in 2009 Germany introduced a fundamental reform of the government borrowing rules which are specified in its constitution. In particular, state governments will be required to provide a balanced budget, abstracting from cyclical fluctuations, starting in the year...

Noch zur Jahreswende 2019/2020 prognostizierten die an der Gemeinschaftsdiagnose beteiligten Wirtschaftsforschungsinstitute für 2020 staatliche Budgetüberschüsse von 21 Mrd. bis 31 Mrd. Euro. Sie gingen von einer Fortsetzung des Aufschwungs aus und erwarteten eine weitere Besserung der...