In der Debatte um die Schuldenbremse bildet sich zunehmend ein Konsens für eine Reform heraus. Zuletzt versuchten Feld et al. (2024) den häufig vorgetragenen Kritikpunkt zu entkräfteten, die Schuldenbremse behindere staatliche Investitionen. Die verwendete synthetische Kontrollmethode...

Führt eine private Finanzierung von Infrastrukturprojekten zu größerer Wirtschaftlichkeit, oder ist dies nur eine Umgehung der Schuldenbremse? Für Alfons Weichenrieder, Universität Frankfurt, liegt der Verdacht nahe – so ökonomisch sinnvoll im Einzelfall der Einsatz eines Public Private...

Führt eine private Finanzierung von Infrastrukturprojekten zu größerer Wirtschaftlichkeit, oder ist dies nur eine Umgehung der Schuldenbremse? Für Alfons Weichenrieder, Universität Frankfurt, liegt der Verdacht nahe – so ökonomisch sinnvoll im Einzelfall der Einsatz eines Public Private...

This paper studies the effects of government capital accumulation on sovereign debt default risk and debt restructuring renegotiation outcomes when government has limited ability to extract revenues from households. We develop a quantitative dynamic stochastic general equilibrium model of...

We study the dynamic output and welfare effects of public infrastructure investment under a balanced budget fiscal rule, using an overlapping generations model of a small open economy. The government finances public investment by employing distortionary labor taxes. We find a negative short-run...

We build a dynamic general equilibrium model with heterogeneous households and capital- skill complementarity in the production function to study aggregate and distributional effects of fiscal consolidation policies when government uses a rich set of productivity-enhancing spending instruments...

Through a comparative dynamic analysis, we argue that the reality of public debt issuance, which responds flexibly to business cycles in contrast to the EU’s institutionally prescribed fiscal discipline, may contribute to macroeconomic stabilization. Through a simple econometric analysis, we...

The challenge for fiscal policy in Slovakia is to achieve fiscal consolidation in a way which supports the fragile recovery and protects spending on areas which are important for re-embarking on a trajectory of high trend growth and underpinning a catch-up in living standards. While the recently...

Owing to slow growth and a relatively weak fiscal position, Portugal’s public debt had been rising for almost a decade when the global crisis struck, sharply increasing the deficit. The loss of confidence in Portuguese and other euro area sovereign bonds required international financial...

It is by now a widely shared insight that fiscal policy needs to be re-strengthened as a macroeconomic policy instrument within European macroeconomic policies: Recent experiences with austerity policies, new research regarding the size of the fiscal multiplier and the fact that monetary policy...