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Überprüfung des Stabilitäts- und Wachstumsgesetzes

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  • Henrike Michaelis
  • Steffen Elstner
  • Christoph Schmidt

Abstract

In June 2015 the German government and the German Council of Economic Experts jointly reviewed the goals and instruments of the Economic Stability and Growth Law (ESGL), with the intention to scrutinise the law for a potential reform. Specifically, they considered recent proposals to extend the law along various dimensions of sustainability. The unequivocal result of this review was that the ESGL should be retained without modification. The law is still useful to quickly implement fiscal measures that could mitigate the consequences of severe economic downturns. However, it would be a completely inappropriate basis for attempts to address aspects of sustainability in economic policy making. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Henrike Michaelis & Steffen Elstner & Christoph Schmidt, 2015. "Überprüfung des Stabilitäts- und Wachstumsgesetzes," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 95(12), pages 830-836, December.
    • Handle: RePEc:spr:wirtsc:v:95:y:2015:i:12:p:830-836
    DOI: 10.1007/s10273-015-1910-z
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    References listed on IDEAS

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    4. Cogan, John F. & Cwik, Tobias & Taylor, John B. & Wieland, Volker, 2010. "New Keynesian versus old Keynesian government spending multipliers," Journal of Economic Dynamics and Control, Elsevier, vol. 34(3), pages 281-295, March.
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    Cited by:

    1. Sebastian Dullien & Till Treeck & Henrike Michaelis & Steffen Elstner & Christoph M. Schmidt, 2016. "Argumente gegen die Reform des Stabilitätsgesetzes wenig überzeugend — eine Replik [An Assessment of the Economic Stability and Growth Law — Reply and Response]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 96(4), pages 258-264, April.
    2. Welter, Friederike & Levering, Britta & May-Strobl, Eva, 2016. "Mittelstandspolitik im Wandel," IfM-Materialien 247, Institut für Mittelstandsforschung (IfM) Bonn.

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    More about this item

    Keywords

    E6; H5; K00;
    All these keywords.

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)

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