IDEAS home Printed from https://ideas.repec.org/a/elg/ejeepi/v1y2004i2p75-106.html
   My bibliography  Save this article

Haushaltskonsolidierungsstrategien im Vergleich. Warum die deutsch-europaeische Fiskalpolitik versagt

Author

Listed:
  • Joerg Bibow

    (Franklin College Switzerland)

Abstract

This paper analyses the issues of public finance sustainability and suitability of strategies aimed at fiscal consolidation, contrasting growth-based versus thriftbased strategies. Empirically, this study investigates the experiences with consolidation over the 1990s in the U.S., Japan, and the eurozone while scrutinizing disparities within Europe. It is argued that neither Germany's virtuous stability-oriented past, which in many ways provided the blueprint for the Maastricht regime's design, nor any other small economy's peculiar record with consolidation offers any guidance to the EMU today. For that purpose only the case of the US case may be relevant, featuring cooperative macroeconomic policies geared at steering domestic demand growth, with sustainable public finances as a consequence of their success. Reforms should thus focus on securing cooperation and proper growth orientation in macroeconomic policymaking, which may be achieved through committing fiscal and monetary policies to common goals and a nominal GDP targeting strategy.

Suggested Citation

  • Joerg Bibow, 2004. "Haushaltskonsolidierungsstrategien im Vergleich. Warum die deutsch-europaeische Fiskalpolitik versagt," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 1(2), pages 75-106.
    • Handle: RePEc:elg:ejeepi:v:1:y:2004:i:2:p:75-106
    as

    Download full text from publisher

    File URL: http://www.elgaronline.com/view/journals/ejeep/1-2/ejeep.2004.02.09.xml
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jorg Bibow, 2005. "Bad for Euroland, Worse for Germany: The ECB's Record," Economics Working Paper Archive wp_429, Levy Economics Institute.
    2. Joerg Bibow, 2006. "Inflation Persistence and Tax-Push Inflation in Germany and in the Euro Area: A Symptom of Macroeconomic Mismanagement?," IMK Studies 01-2006, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.

    More about this item

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

    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:elg:ejeepi:v:1:y:2004:i:2:p:75-106. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Phillip Thompson (email available below). General contact details of provider: http://www.elgaronline.com/ejeep .

    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.