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Fiskalpolitik als antizyklisches Instrument? Eine Betrachtung der Schweiz

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  • Christoph A. Schaltegger
  • Martin Weder

Abstract

Dieses Papier untersucht die Stabilisierungswirkung der Schweizer Fiskalpolitik. Erstens zeigt sich, dass in etwa 60% der Fälle die verfolgte Fiskalpolitik des Bundes antizyklisch wirkte. In Rezessionen wirkte die Fiskalpolitik des Bundes immer antizyklisch. Im Falle der Kantone wurden knapp 55% der Rezessionen mit einer antizyklischen Fiskalpolitik begleitet. Wie beim Bund geht auch bei den Kantonen der Trend in Richtung stärkerer Stabilisierung. Zweitens wurden die beiden Instrumente der aktiven Konjunkturpolitik, automatische Stabilisatoren und diskretionäre Fiskalpolitik, miteinander verglichen. Über die letzten 50 Jahre sind die automatischen Stabilisatoren insbesondere auf der Bundesebene stark ausgebaut worden. Der Umfang des Impulses der automatischen Stabilisatoren ist dabei etwa doppelt so gross wie jener der diskretionären Fiskalpolitik. Drittens wurden die makroökonomischen Effekte der antizyklischen Fiskalpolitik der Schweiz untersucht. Die automatischen Stabilisatoren zeigten sich insbesondere auf Kantonsebene als effektive Konjunkturstütze, während die Effekte der diskretionären Fiskalpolitik auf den Konjunkturverlauf schwächer ausfielen.

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Paper provided by Center for Research in Economics, Management and the Arts (CREMA) in its series CREMA Working Paper Series with number 2009-24.

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Date of creation: Oct 2009
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Handle: RePEc:cra:wpaper:2009-24

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