Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/262903 
Title (translated): 
The European fiscal rules need major reforms
Authors: 
Year of Publication: 
2022
Citation: 
[Journal:] Wirtschaftsdienst [ISSN:] 1613-978X [Volume:] 102 [Issue:] 6 [Publisher:] Springer [Place:] Heidelberg [Year:] 2022 [Pages:] 456-460
Publisher: 
Springer, Heidelberg
Abstract: 
Analog zur Schuldenbremse wurden auch die europäischen Fiskalregeln während der Coronapandemie ausgesetzt. Die Rückkehr zum bestehenden System der europäischen Regeln ist für 2023 angedacht. Dies würde einen erheblichen Kürzungsdruck zur Folge haben. Die europäischen Fiskalregeln müssen dringend reformiert werden, um die fiskalpolitischen Fehler des vergangenen Jahrzehnts nicht zu wiederholen.
Abstract (Translated): 
The European fiscal rules are to be reactivated in 2023 or 2024. In their current form, they pose a significant threat to economic recovery and the investment urgently required to achieve climate neutrality. This paper makes proposals to create more economically sound fiscal rules. In the long term, the Maastricht criteria should be replaced by a more comprehensive set of indicators. Right now, the existing investment clause should be broadened to the extent that the deficit rule becomes a (green-)golden rule. Furthermore, the structural deficit rule should be replaced by an expenditure rule. Estimations of the structural deficit are prone to huge revisions and the current set of fiscal rules led to harmful pro-cyclicality during the euro crisis.
Subjects: 
Öffentliche Schulden
EU-Staaten
JEL: 
E00
E62
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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