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107 Ergebnisse, ab 41
DIW Wochenbericht 4 / 2017

Öffentliche Geldverbrennung: Kommentar

2017| Marcel Fratzscher
Pressemitteilung

The austerity policy was counterproductive in Spain, Portugal, and Italy

DIW study showed: To some extent, drastic savings measures neutralized the effects of structural reform. The countries affected relapsed into recession without having improved their financial picture – a balanced policy mixture would have been better. The austerity measures and tax increases implemented from 2010 onwards did not reduce sovereign debt in Spain, Portugal and Italy as anticipated. ...

22.02.2017
Externe referierte Aufsätze

Austerity and Private Debt

This study provides empirical evidence that the costs of austerity crucially depend on the level of private indebtedness. In particular, fiscal consolidations lead to severe contractions when implemented in high private-debt states. Contrary, fiscal consolidations have no significant effect on economic activity when private debt is low. These results are robust to alternative definitions of private-debt ...

In: Journal of Money, Credit and Banking 49 (2017), 7, S. 1555-1585 | Mathias Klein
DIW Wochenbericht 8 / 2017

Austeritätspolitik hat in Spanien, Portugal und Italien die Krise verschärft

Die von Spanien, Italien und Portugal zwischen 2010 und 2014 unternommenen fiskalischen Konsolidierungsanstrengungen haben entgegen ihrem Ziel nicht zu einer Reduzierung der Staatsschuldenquote dieser drei Länder geführt. Dieser Wochenbericht untersucht, warum die teilweise drastischen Ausgabenkürzungen und Steuererhöhungen erfolglos blieben und sogar spürbar zu einem Rückfall der drei betroffenen ...

2017| Philipp Engler, Mathias Klein
DIW Economic Bulletin 8 / 2017

Austerity Measures Amplified Crisis in Spain, Portugal, and Italy

The fiscal consolidation efforts of Spain, Italy, and Portugal from 2010 to 2014 did not achieve their goal of reducing the debt-to-GDP ratio in any of the three countries. This Economic Bulletin examines why the spending cuts and tax increases, at times drastic, were unsuccessful and perceptibly contributed to sending the three countries back into recession. The sharp decrease in private household ...

2017| Philipp Engler, Mathias Klein
Diskussionspapiere 1611 / 2016

Austerity and Private Debt

This study provides empirical evidence that the costs of austerity crucially depend on the level of private indebtedness. In particular, fiscal consolidations lead to severe contractions when implemented in high private debt states. Contrary, fiscal consolidations have no significant effect on economic activity when private debt is low. These results are robust to alternative definitions of private ...

2016| Mathias Klein
Externe referierte Aufsätze

Does Public Investment Stimulate Private Investment? Evidence for the Euro Area

This paper explores the long run relationship between public and private investment in the euro area. In contrast to previous studies a stock-flow approach is applied to control for the different orders of integration between the stock and flow variables. Panel econometric techniques allowing for international spillovers are employed. Private and public capital stocks are both I(2) and cointegrated. ...

In: Economic Modelling 58 (2016), S. 154-158 | Christian Dreger, Hans-Eggert Reimers
DIW Wochenbericht 18 / 2016

Welcher Zusammenhang besteht zwischen öffentlichen und privaten Investitionen?

Die Investitionstätigkeit der Unternehmen ist ein Motor der wirtschaftlichen Entwicklung. Trotz günstiger Finanzierungsbedingungen hielten sich die Firmen in den vergangenen Jahren in Deutschland und im Euroraum aber weitgehend zurück, wenn es darum ging, in ihre Produktionsanlagen zu investieren. Dies könnte auch an einer verhältnismäßig schwachen öffentlichen Investitionstätigkeit liegen. Inwieweit ...

2016| Christian Dreger, Hans-Eggert Reimers
107 Ergebnisse, ab 41