IDEAS home Printed from https://ideas.repec.org/p/wii/pnotes/pn65.html
   My bibliography  Save this paper

Öffentliche Investitionen und Sozialstaat: Perspektiven der Budgetpolitik im Kontext von Energiekrise, Klimawandel und EU-Budgetregeln

Author

Listed:

Abstract

Öffentliche Investitionen und Sozialstaat Perspektiven der Budgetpolitik im Kontext von Energiekrise, Klimawandel und EU-Budgetregeln This publication is available in German language only. For a brief English summary see further below. Im Kontext der Energiekrise und des Klimawandels ist in den kommenden Jahrzehnten eine erhebliche Ausweitung der öffentlichen Investitionen erforderlich. Für Österreich sind bis zum Jahr 2030 die Erfordernisse für öffentliche Investitionen zur Erreichung der Klima- und Energieziele gemäß dem Klima- und Investitionsplan der Bundesregierung mit €9,5 Milliarden pro Jahr (2,4% der Wirtschaftsleistung des Jahres 2019) im EU-Ländervergleich hoch. Dabei handelt es sich um eine Untergrenze, da die Klimaziele mittlerweile verschärft wurden. Gleichzeitig stellt der Alterungsprozess der Gesellschaft den Sozialstaat bei Gesundheits-, Sozial- und Bildungsaufgaben vor neue Herausforderungen. Doch der Budgetkonsolidierungsdruck wird in den kommenden Jahren wegen der Auswirkungen der Krisen der letzten Jahre auf den Staatshaushalt steigen. Vor diesem Hintergrund diskutiert diese Kurzanalyse drei stilisierte Szenarien für die Budgetpolitik, die jeweils unterschiedliche Implikationen für die Nachhaltigkeit der Staatsfinanzen und für die Erreichung von Zielen in den Bereichen Klima, Energie und Soziales haben. Public Investment and the Welfare State Perspectives on Fiscal Policy in the Context of the Energy Crisis, Climate Change and EU Fiscal Rules In the context of the energy crisis and climate change, a significant expansion of public investment is required in the coming decades. For Austria, the requirements for public investment to achieve the climate and energy targets by 2030 according to the Federal Government's Climate and Investment Plan are high at €9.5 billion per year (2.4% of economic output in 2019). This is a lower limit, as climate targets have since been tightened. At the same time, the aging process of society poses new challenges for the welfare state in terms of health, social and educational spending. But fiscal consolidation pressures will increase in the coming years because of the impact of the crises of recent years on public finances. Against this backdrop, this briefing paper discusses three stylised scenarios for fiscal policy, each with different implications for the sustainability of government finances and for the achievement of climate, energy and social goals.

Suggested Citation

  • Philipp Heimberger, 2023. "Öffentliche Investitionen und Sozialstaat: Perspektiven der Budgetpolitik im Kontext von Energiekrise, Klimawandel und EU-Budgetregeln," wiiw Policy Notes 65, The Vienna Institute for International Economic Studies, wiiw.
  • Handle: RePEc:wii:pnotes:pn:65
    as

    Download full text from publisher

    File URL: https://wiiw.ac.at/oeffentliche-investitionen-und-sozialstaat-perspektiven-der-budgetpolitik-im-kontext-von-energiekrise-klimawandel-und-eu-budgetregeln-dlp-6484.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Philipp Heimberger, 2022. "Österreichs Gemeinden im Kontext der Covid-19-Krise: Finanzausgleich bei steigenden Investitionsbedarfen und sinkenden Einnahmen," wiiw Research Reports in German language 20, The Vienna Institute for International Economic Studies, wiiw.
    2. Atanas Pekanov & Margit Schratzenstaller, 2020. "The Role of Fiscal Rules in Relation with the Green Economy," WIFO Studies, WIFO, number 66442, April.
    3. Zsolt Darvas & Guntram B. Wolff, 2021. "A green fiscal pact- climate investment in times of budget consolidation," Policy Contributions 44540, Bruegel.
    4. Stavros A. Zenios, 2022. "The risks from climate change to sovereign debt," Climatic Change, Springer, vol. 172(3), pages 1-19, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Angela Köppl & Stefan Schleicher & Margit Schratzenstaller, 2023. "Klima- und umweltrelevante öffentliche Ausgaben in Österreich," WIFO Working Papers 655, WIFO.
    2. Philipp Heimberger & Andreas Lichtenberger, 2023. "RRF 2.0: A Permanent EU Investment Fund in the Context of the Energy Crisis, Climate Change and EU Fiscal Rules," wiiw Policy Notes 63, The Vienna Institute for International Economic Studies, wiiw.
    3. Karydas, Christos & Xepapadeas, Anastasios, 2022. "Climate change financial risks: Implications for asset pricing and interest rates," Journal of Financial Stability, Elsevier, vol. 63(C).
    4. Corti, Francesco & Alcidi, Cinzia & Gros, Daniel & Liscai, Alessandro & Shamsfakhr, Farzaneh, 2022. "A qualified treatment for green and social investments within a revised EU fiscal framework," CEPS Papers 36574, Centre for European Policy Studies.
    5. Alessi, Lucia & Battiston, Stefano, 2022. "Two sides of the same coin: Green Taxonomy alignment versus transition risk in financial portfolios," International Review of Financial Analysis, Elsevier, vol. 84(C).
    6. Mario Alloza & Danilo Leiva-León & Alberto Urtasun, 2022. "The response of private investment to an increase in public investment," Economic Bulletin, Banco de España, issue 2/2022.
    7. Angela Köppl & Margit Schratzenstaller, 2024. "Policy Brief: Budgetäre Kosten und Risiken durch klimapolitisches Nichthandeln und Klimarisiken," WIFO Studies, WIFO, number 70821, April.
    8. Di Tommaso, Caterina & Foglia, Matteo & Pacelli, Vincenzo, 2023. "The impact and the contagion effect of natural disasters on sovereign credit risk. An empirical investigation," International Review of Financial Analysis, Elsevier, vol. 87(C).
    9. Catherine Mathieu & Henri Sterdyniak, 2021. "Vers une réforme des règles budgétaires dans la zone euro ?," SciencePo Working papers Main hal-03474871, HAL.
    10. Yuqin Zhou & Shan Wu & Zhenhua Liu & Lavinia Rognone, 2023. "The asymmetric effects of climate risk on higher-moment connectedness among carbon, energy and metals markets," Nature Communications, Nature, vol. 14(1), pages 1-16, December.
    11. Sebastian Barnes, 2022. "EU Fiscal Governance Reforms: A Perspective of Independent Fiscal Institutions," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 57(1), pages 21-25, January.
    12. Peter von zur Muehlen, 2022. "Prices and Taxes in a Ramsey Climate Policy Model under Heterogeneous Beliefs and Ambiguity," Economies, MDPI, vol. 10(10), pages 1-56, October.
    13. Lee, Chien-Chiang & Wang, Chih-Wei & Thinh, Bui Tien, 2023. "Green development, climate risks, and cash flow: International evidence," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    14. Ginters Buss & Patrick Gruning & Olegs Tkacevs, 2021. "Choosing the European Fiscal Rule," Working Papers 2021/03, Latvijas Banka.
    15. Phemelo Tamasiga & Malesela Molala & Malebogo Bakwena & Hugue Nkoutchou & Helen Onyeaka, 2023. "Is Africa Left behind in the Global Climate Finance Architecture: Redefining Climate Vulnerability and Revamping the Climate Finance Landscape—A Comprehensive Review," Sustainability, MDPI, vol. 15(17), pages 1-26, August.
    16. O'Connell, Marguerite & Abraham, Laurent & Oleaga, Iñigo Arruga, 2023. "The legal and institutional feasibility of an EU Climate and Energy Security Fund," Occasional Paper Series 313, European Central Bank.
    17. Cinzia Alcidi & Francesco Corti & Daniel Gros, 2022. "A Golden Rule for Social Investments: How to Do It," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 57(1), pages 26-32, January.
    18. Philipp Heimberger & Andreas Lichtenberger, 2022. "RRF 2.0: Ein permanenter EU-Investitionsfonds im Kontext von Energiekrise, Klimawandel und EU-Fiskalregeln," wiiw Research Reports in German language 23, The Vienna Institute for International Economic Studies, wiiw.
    19. Atanas Pekanov & Margit Schratzenstaller, 2023. "Options to Align the EU Fiscal Framework to Green Public Investment Needs," WIFO Research Briefs 2, WIFO.
    20. Puonti, Päivi, 2022. "Public Debt and Economic Growth," ETLA Reports 127, The Research Institute of the Finnish Economy.

    More about this item

    Keywords

    Investitionen; Österreich; EU; Europa; Klimawandel; Energiekrise; Sozialstaat;
    All these keywords.

    JEL classification:

    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wii:pnotes:pn:65. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Customer service (email available below). General contact details of provider: https://edirc.repec.org/data/wiiwwat.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.