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The Financial Market Crisis and Budget Policy

Author

Listed:
  • Hans Pitlik

    (WIFO)

  • Margit Schratzenstaller

    (WIFO)

Abstract

The high public deficits expected in the coming years can largely be attributed to the budgetary effects of the financial market and economic crisis. Against the backdrop of a long term budget burden through increased debt and a demographically-related increase in expenditures, it is all the more urgent to find a suitable strategy for the rebalancing of the budget once the crisis is over. Potential for a consolidation of the budget can mainly be found in expenditures, while it is limited with respect to revenues.

Suggested Citation

  • Hans Pitlik & Margit Schratzenstaller, 2010. "The Financial Market Crisis and Budget Policy," Austrian Economic Quarterly, WIFO, vol. 15(1), pages 103-108, April.
  • Handle: RePEc:wfo:wquart:y:2010:i:1:p:103-108
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    Keywords

    Financial Market Crisis; Budget Policy;

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