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Eine neue deutsche Finanzpolitik

Author

Listed:
  • Philippa Sigl-Gloeckner

    (Dezernat Zukunft)

  • Max Krahé

    (Dezernat Zukunft)

  • Pola Schneemelcher

    (Dezernat Zukunft)

  • Florian Schuster

    (Universitaet zu Koeln)

  • Viola Hilbert

    (Deutschen Instituts fuer Wirtschaftsforschung (DIW))

  • Henrika Meyer

    (Mercator Research Institute for Global Commons and Climate Change)

Abstract

Ueber Jahrzehnte war die deutsche Fiskalpolitik von der Idee gepraegt, dass die Tragfaehigkeit der oeffentlichen Finanzen an der Schuldenquote zu messen sei; die Schuldenquote wiederum sei am besten ueber das jaehrliche Haushaltsdefizit zu kontrollieren. Mit der Einfuehrung der Schuldenbremse fand dieser Ansatz 2009 Eingang in die deutsche Verfassung. Die neuere Forschung hat jedoch herausgearbeitet, dass dieses Paradigma im heutigen Kontext zu suboptimalen Ergebnissen fuehrt: Insbesondere gewaehrleistet es weder die langfristige Tragfaehigkeit der oeffentlichen Finanzen noch ein aussenwirtschaftliches Gleichgewicht noch einen effizienten Beitrag zur Loesung der heute vor uns stehenden Herausforderungen, insbesondere der Dekarbonisierung und des demographischen Wandels. Eine wachsende Erkenntnis dieser Tatsache hat sowohl in Deutschland als auch international zu einer lebhaften Debatte ueber die Zukunft von Fiskalregeln gefuehrt. Dieses Working Paper baut auf der Debatte auf und geht einen Schritt weiter, indem es nicht von den Unzulaenglichkeiten des heutigen Paradigmas, sondern von einer positiven Zielsetzung aus in Richtung neuer Reformideen denkt. Einfuehrend geben wir einen Ueberblick zum Stand der Diskussion um Alternativen und Reformen der Schuldenbremse. Anschliessend werden drei eng miteinander verknuepfte Fragen beantwortet: was ist die richtige Zielsetzung fuer Fiskalpolitik? Wie koennte ein institutionelles Rahmenwerk aussehen, um diese Zielsetzung in die Praxis umzusetzen? Und welche konkreten, politische realistischen Reformoptionen koennten uns in diese Richtung bewegen? Dabei identifizieren wir nachhaltige Vollauslastung der Wirtschaft als sinnvolles Ziel fuer Fiskalpolitik; machen einen Vorschlag fuer ein viergliedriges Rahmenwerk, und entwickeln detaillierte Vorschlaege fuer erste Reformschritte, mit denen dieses Rahmenwerk in Deutschland umgesetzt werden koennte, darunter eine Anpassung der einfachgesetzlich geregelten Konjunkturkomponente der Schuldenbremse, die Einfuehrung einer Investitionsgesellschaft fuer kommunale Investitionen, sowie die Einfuehrung eines Fruehwarnindikators fuer Zinskosten.

Suggested Citation

  • Philippa Sigl-Gloeckner & Max Krahé & Pola Schneemelcher & Florian Schuster & Viola Hilbert & Henrika Meyer, 2021. "Eine neue deutsche Finanzpolitik," Working Papers 2, Forum New Economy.
    • Handle: RePEc:agz:wpaper:2102
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    References listed on IDEAS

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    Cited by:

    1. Schuster-Johnson, Florian & Heilmann, Felix & Krahé, Max & Sigl-Glöckner, Philippa & Steitz, Janek, 2025. "Eine ökonomisch sinnvolle Schuldenregel: Reformvorschlag für die Schuldenbremse," Papers 312611, Dezernat Zukunft - Institute for Macrofinance, Berlin.
    2. Christian Ochsner & Christopher Zuber, 2022. "Die Konjunkturbereinigung der Schuldenbremse: ein Plädoyer für methodische Reformen [The Cyclical Adjustment Procedure of the German Debt Brake: a Plea for Methodical Reforms]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 102(11), pages 822-825, November.

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    More about this item

    Keywords

    Fiscal Policy; Fiscal Rules; Debt Brake; Debt Management;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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