期刊名称：Finanzwissenschaftliche Diskussionsbeiträge / Finanzwissenschaftliches Forschungsinstitut, Universität Köln
印刷版ISSN：0945-490X
出版年度：2007
卷号：2007
出版社：Universität Köln
摘要：This paper analyses the shortcomings of the current budget rules for the Bundesländer, espe-
cially the de.nition of public investment that is used as a de.cit ceiling in Germany. Two
alternative budget rules are analysed, the Swiss debt brake as well as a version incorporating
a golden rule presented by the the German Council of Economic Experts. A simulation reveals
the necessary consolidation path, the loss of bene.ts, and the recursive development of public
debt. In addition to the standard simulation method we present a politico-economic approach
that leads to improved results. The swiss debt brake yields stronger restrictions on public debt
than the version incorporating the golden rule. Yet applying the simulation to both Länder and
their municipalities leads to contrasting results.
关键词：Public debt, German Bundesländer, debt brake, golden rule, public investment
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