Forderungen nach Lockerungen der Schuldenbremse haben seit dem Urteil des Bundesverfassungsgerichts zum zweiten Nachtragshaushalt 2021 Auftrieb erhalten. Oft wird argumentiert, dass die Schuldenbremse wichtige Zukunftsinvestitionen behindere und eine ambitionierte Investitionspolitik mehr...

Die Finanzierung öffentlicher Haushalte erfolgt durch Steuereinnahmen, Zuwendungen und Kredite. Investitionen, insbesondere Bauinvestitionen, können und werden in der Regel kreditfinanziert.

The Japanese Fiscal Investment and Loan Progam (FILP) will be fundamentally changed in April 2001. We are comparing the pre- and post-reform Japanese system with the German system of policy-based finance and we have found that the German system is quite different. In the case of the...

Overall, household debt levels have risen sharply over the past decades in EU Member States. While certain levels of household debts can be beneficial, they can become problematic especially with a sudden, unexpected decrease of incomes or increase of expenditures. The current financial crisis...

Household over-indebtedness is among the causes of the current financial crisis. In turn, the crisis exacerbated both public and private debt problems. In this paper, household over-indebtedness is broadly defined as the situation where a household cannot comply with payment requirements –...

We analyse the performance of budgetary and growth forecasts of all stability and convergence programmes submitted by EU member states over the last decade. Differences emerge for the bias in budgetary projections across countries. As a second step we explore whether economic, political and...