@techreport{Siebert2004Germany,
abstract = {This paper analyzes Germany?s fiscal policy position. Half
of GDP passes through the hands of government, a high debt to GDP
ratio limits the maneuvering, and the revenue sharing mechanism
prevents a competitive federalism. Most importantly for the future,
the federal finance minister has to pick up the deficits that the social
security systems leave behind. Transfers from the public budget to the
social security systems are large, and since 1998 the elasticity of
transfers to nominal GDP is 4. This trend will intensify in an aging
society. All these factors weaken the prospects for reform that
Germany must undertake in its taxation and expenditure system in
view of the changed international conditions.},
address = {Kiel},
author = {Horst Siebert},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
editor = {Institut f\"{u}r Weltwirtschaft, Kiel},
keywords = {I00; H20; E13; E12; 330; Fiscal Policy , Subsidies , German Unification , Debt , Revenue Sharing , Social Policy; Finanzpolitik; \"{O}ffentliche Schulden; Staatsquote; Deutschland},
language = {eng},
number = {1196; 1196},
publisher = {Kiel Institute for the World Economy (IfW)},
series = {Kiel working paper},
title = {Germany's fiscal policy stance},
type = {Kieler Arbeitspapiere},
url = {http://hdl.handle.net/10419/3151},
year = {2004}
}
