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Fiscal Consolidation in Germany: Dividends Without Reforms?

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  • Christian Breuer

Abstract

In the last ten years Germany’s fiscal situation has improved dramatically. While the budget deficit often exceeded 3% in 2005, structural surpluses are expected this year. In addition to extremely favourable developments in interest rates, a significant share of the consolidation is due to lower spending on social security benefits. Reforms of Germany’s social welfare system were mainly implemented between 2001 and 2005, but their impact was largely felt in the years that followed.

Suggested Citation

  • Christian Breuer, 2015. "Fiscal Consolidation in Germany: Dividends Without Reforms?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 68(15), pages 38-41, August.
    • Handle: RePEc:ces:ifosdt:v:68:y:2015:i:15:p:38-41
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    File URL: https://www.ifo.de/DocDL/sd-2015-15-breuer-fiskalische-konsolidierung-2015-08-13.pdf
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    Cited by:

    1. Boysen-Hogrefe, Jens & Felbermayr, Gabriel & Kooths, Stefan & Laaser, Claus-Friedrich & Rosenschon, Astrid & Stolzenburg, Ulrich, 2020. "Finanzpolitik mit Weitblick ausrichten," Kieler Beiträge zur Wirtschaftspolitik 30, Kiel Institute for the World Economy (IfW Kiel).

    More about this item

    JEL classification:

    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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