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Goverment debt post COVID-19: back to golden rules

Christian Breuer

The COVID-19 crisis has caused public debt to increase dramatically, which is why the German and European fiscal rules are currently suspended. In addition to the new assessment of the fiscal costs at low interest rates, the discussion on the reintroduction of fiscal rules in Germany and Europe should take into account the function of government bonds as a safe asset and an instrument to combat the liquidity trap as well as the net return on productive government investments. For practical reasons, the return to the classic Golden Rule, which aims to limit net debt and promote government investment in the interest of future generations, is recommendable.

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Year of publication:	[2021]
Authors:	Breuer, Christian
Publisher:	Chemnitz, Germany : Chemnitz University of Technology, Faculty of Economics and Business Administration
Subject:	Government Debt \| Fiscal Rules \| Low Interest Rates \| Öffentliche Schulden \| Public debt \| Finanzpolitik \| Fiscal policy \| Coronavirus \| Zins \| Interest rate \| Regelbindung versus Diskretion \| Rules versus discretion \| Geldpolitik \| Monetary policy \| Schuldenmanagement \| Debt management \| Haushaltskonsolidierung \| Fiscal consolidation \| Zinsstruktur \| Yield curve

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Extent:	1 Online-Ressource (circa 7 Seiten)
Series:	Chemnitz economic papers. - Chemnitz, Germany : Technische Universität Chemnitz, Faculty of Economics and Business Administration, ZDB-ID 2914255-6. - Vol. no. 041 (February 2021)
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	hdl:10419/229945 [Handle]
Classification:	E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation ; H56 - National Security and War ; H63 - Debt; Debt Management
Source:	ECONIS - Online Catalogue of the ZBW

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