Schuster, Florian; Krahé, Max; Sigl-Glöckner, Philippa; … - 2021
(Konjunkturkomponente). By allowing for more or less net borrowing depending on the level of economic activity, this component was intended … to enable a counter-cyclical fiscal policy, while both limiting and legitimising new spending. Sections 1-7 of this paper … to scratch, for four reasons. (1) Contrary to legal requirement, it does not take into account the latest social …