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Das Wie entscheidet: Haushaltsüberschüsse sinnvoll verwenden

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  • Schmidt Christoph M.

    (RWI – Leibniz-Institut für Wirtschaftsforschung, Hohenzollernstr. 1–3, 45128EssenGermany, Tel.: (0201) 8149–227)

  • Schmidt Torsten

    (RWI – Leibniz-Institut für Wirtschaftsforschung, Hohenzollernstr. 1–3, 45128EssenGermany, Tel.: (0201) 8149–287)

Abstract

The current budget surplus suggests substantial scope for political action in the coming years. In the run-up to the coming elections, demands have been made to use these surpluses for tax cuts or additional investment spending. However, we argue in this paper that the favorable budgetary position is likely to be a temporary phenomenon. Hence, the reduction of the Debt-to-GDP ratio should remain of the highest priority. Remaining fiscal space could be used for efficiency-enhancing reforms of the tax system. Public investment projects, in contrast, should be evaluated case-by-case based on their respective returns and financed mainly through shifts within the budget.

Suggested Citation

  • Schmidt Christoph M. & Schmidt Torsten, 2017. "Das Wie entscheidet: Haushaltsüberschüsse sinnvoll verwenden," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 66(1), pages 37-49, April.
    • Handle: RePEc:lus:zwipol:v:66:y:2017:i:1:p:37-49:n:5
    DOI: 10.1515/zfwp-2017-0005
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    References listed on IDEAS

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    1. Alberto Alesina, 2000. "The Political Economy of the Budget Surplus in the United States," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 3-19, Summer.
    2. Roel Beetsma & Massimo Giuliodori & Franc Klaassen, 2006. "Trade spill-overs of fiscal policy in the European Union: a panel analysis [‘Fiscal policy, profits, and investment’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 21(48), pages 640-687.
    3. Barabas, György & Gebhardt, Heinz & Schmidt, Torsten & Weyerstraß, Klaus, 2016. "Projektion der Wirtschaftsentwicklung bis 2021: Binnenwirtschaftliche Impulse bei erhöhter weltwirtschaftlicher Unsicherheit," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 67(4), pages 17-32.
    4. Döhrn, Roland & Barabas, György & Fuest, Angela & Gebhard, Heinz & Micheli, Martin & Rujin, Svetlana & Zwick, Lina, 2016. "Die wirtschaftliche Entwicklung im Inland: In schwierigem Fahrwasser," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 67(1), pages 37-110.
    5. Alberto Alesina, 2000. "The Political Economy of the Budget Surplus in the U.S," NBER Working Papers 7496, National Bureau of Economic Research, Inc.
    6. Döhrn, Roland & Gebhardt, Heinz, 2013. "Die fiskalischen Kosten der Finanz- und Wirtschaftskrise," IBES Diskussionsbeiträge 198, University of Duisburg-Essen, Institute of Business and Economic Studie (IBES).
    7. Döhrn, Roland & Barabas, György & Fuest, Angela & Gebhardt, Heinz & Jäger, Philipp & Micheli, Martin & Rujin, Svetlana, 2016. "Die wirtschaftliche Entwicklung im Inland: Expansion bleibt robust," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 67(3), pages 25-64.
    8. Döhrn, Roland & Barabas, György & Gebhardt, Heinz & Kitlinski, Tobias & Micheli, Martin & Schmidt, Torsten & Vosen, Simeon & Zimmermann, Lina, 2010. "Die wirtschaftliche Entwicklung im Inland: Expansion gewinnt nur langsam an Fahrt," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 61(1), pages 37-96.
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    1. Bofinger, Peter & Schnabel, Isabel & Feld, Lars P. & Schmidt, Christoph M. & Wieland, Volker, 2017. "Für eine zukunftsorientierte Wirtschaftspolitik. Jahresgutachten 2017/18 [Towards a Forward-Looking Economic Policy. Annual Report 2017/18]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201718, September.

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