{"id":53229,"date":"2023-12-01T18:05:15","date_gmt":"2023-12-01T17:05:15","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/die-europaeische-schuldenaversion-schuldengrenzen-versus-investitionen\/"},"modified":"2024-08-08T12:43:14","modified_gmt":"2024-08-08T10:43:14","slug":"die-europaeische-schuldenaversion-schuldengrenzen-versus-investitionen","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/53229\/","title":{"rendered":"Die europ\u00e4ische Schuldenaversion. Schuldengrenzen versus Investitionen"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-53229","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Nicht blo\u00df Staatsschulden gelten als grunds\u00e4tzlich kontraproduktiv, erhebliche Angst besteht auch vor einer \u00dcberschuldung der Unternehmen. Dabei wird \u00fcbersehen, dass die Schulden gesamtwirtschaftlich stets so hoch sein m\u00fcssen wie die Ersparnisse; solange die Ersparnisse steigen \u2013 und das ist bei steigendem Wohlstand zu erwarten \u2013, m\u00fcssen auch die Schulden steigen. Bei dem etwa 2-prozentigen Wachstum, das auch f\u00fcr die Zukunft zu erwarten ist, reicht der investitionsbedingte Verschuldungsbedarf der Wirtschaft nicht aus, um die gesamten Ersparnisse aufzunehmen. Der daraus resultierende Nachfragemangel d\u00e4mpft das Wachstum und kann Rezessionen ausl\u00f6sen. Um das zu vermeiden, muss der Staat die \u00fcbersch\u00fcssigen Ersparnisse aufnehmen. Das ist unproblematisch, wenn die Verschuldung f\u00fcr wohlstandssteigernde Investitionen verwendet wird; darunter sind nicht blo\u00df Investitionen in die materielle Infrastruktur, sondern auch in die immaterielle \u2013 Bildung, Gesundheit usw. \u2013 zu verstehen. An die Stelle der Schuldenregel sollte eine Investitionsregel treten.","onlinedate":"2019-05-01 02:00:00","lang":"German","publication_series":"","publication_date":"20190501","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"Geldpolitik\",\"Sparen\",\"Zinss\u00e4tze\"]","jelcodes":"[\"E21\",\"E43\",\"E52\"]","related_publications":"[]","pdf":null,"zip":null,"link":"https:\/\/www.wifo.ac.at\/wwa\/pubid\/61781","monthly_report":false,"monthly_report_main":false,"monthly_report_volume":"44","monthly_report_pages":"67-87","monthly_report_pages_sort":"67","issue":"1","journal":"Wirtschaft und Gesellschaft","publisher":"","invisible":false,"external":true,"embargo_date":null,"types":[83083],"research_groups":[3500],"collaboration":"","persons":[4877],"persons_data":"[{\"personId\":4877,\"personName\":\"Gunther Tichy\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Die europ\u00e4ische Schuldenaversion. 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