Thams, Andreas - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2007
1990s. We focus on the question, how fiscal policy behaves under rising public debt ratios. It is found that both Germany …This paper analyzes German and Spanish fiscal policy using simple policy rules. We choose Germany and Spain, as both … are Member States in the European Monetary Union (EMU) and underwent considerable increases in public debt in the early …