Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/73834 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
ifo Working Paper No. 141
Verlag: 
ifo Institute - Leibniz Institute for Economic Research at the University of Munich, Munich
Zusammenfassung: 
Fiscal sustainability tests have largely ignored the institutional setting of fiscal policy making. Fiscal equalization schemes in federal states are one such institution. We examinewhether German state governments pursue sustainable fiscal policies taking intoaccount fiscal equalization transfers. Using panel data techniques we assess fiscal sustainability by investigating whether the debt-to-GDP-ratio has had a positive influence on the primary surplus (Bohn-model). Distinguishing between different measures of theprimary surplus we show that including/excluding fiscal transfers changes the results of the Bohn-model. While fiscal equalization transfers do render the fiscal policy of the states sustainable they also provide the states with incentives to increase government spending which, eventually, might render the entire equalization scheme politically unsustainable.
Schlagwörter: 
Fiscal sustainability
institutions
fiscal equalization schemes
panel data
JEL: 
H77
H72
H62
C23
Dokumentart: 
Working Paper

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