{"id":88129,"date":"2024-01-22T09:23:22","date_gmt":"2024-01-22T08:23:22","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/88129\/"},"modified":"2024-11-07T00:21:48","modified_gmt":"2024-11-06T23:21:48","slug":"budgetsanierung-in-europa","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/88129\/","title":{"rendered":"Budget Consolidation in Western Europe"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-88129","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Within only a few years, the four Scandinavian countries and the U. K. succeeded in turning high budget deficits into surplus without impairing GDP growth and employment. A key role in the consolidation process played a boom in private consumption triggered mainly by a liberalization of credit markets coupled with tax deductability of interest rates. While the example of the five countries shows that government deficits do not by necessity put a higher burden on future generations, there is one decisive drawback: In every case the consumption boom led to severe problems in the current external account. Budget deficits are particularly high in Italy and the smaller EC countries. Also on other policy-relevant indicators the smaller EC economies tend to perform less well than the members of EFTA and the major EC countries.","onlinedate":"1990-01-01 01:00:00","lang":"German","publication_series":"","publication_date":"19900101","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"Budgetsanierung in Europa; Budget Consolidation in Western Europe\"]","jelcodes":"[]","related_publications":"[]","pdf":279206,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"63","monthly_report_pages":"37-46","monthly_report_pages_sort":"37","issue":"1","journal":"WIFO-Monatsberichte","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44312],"research_groups":[3500],"collaboration":"","persons":[3893],"persons_data":"[{\"personId\":3893,\"personName\":\"Ewald Walterskirchen\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Walterskirchen, E.<\\\/span> (1990). <span>Budgetsanierung in Europa<\\\/span>. <span><em>WIFO-Monatsberichte<\\\/em><\\\/span>, <em>63<\\\/em>(1), 37-46. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/1042\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/1042<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Walterskirchen E<\\\/span>. <span class=\\\"title\\\"><span>Budgetsanierung in Europa<\\\/span><\\\/span>. <span>WIFO-Monatsberichte<\\\/span>. 1990 Jan;63(1):37-46.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{b086366c49ea41d6a64cd7e8b31c4f02,<\\\/div><div>  title    = \\\"Budgetsanierung in Europa\\\",<\\\/div><div>  abstract = \\\"Die Budgetsanierung kommt in {\\\\\\\"O}sterreich seit 1987 so rasch wie im Ausland voran. Au{\\\\ss}erordentlich gro{\\\\ss}e Konsolidierungserfolge konnten die vier skandinavischen L{\\\\\\\"a}nder und Gro{\\\\ss}britannien erzielen, ohne Wachstum und Besch{\\\\\\\"a}ftigung zu beeintr{\\\\\\\"a}chtigen. Ein Konsumboom \u2013 infolge der Liberalisierung des Kreditmarktes bei steuerlich absetzaren Kreditzinsen \u2013 hat zum Sanierungserfolg entscheidend beigetragen. Der Weg dieser f{\\\\\\\"u}nf L{\\\\\\\"a}nder zeigt, da{\\\\ss} Budgetdefizite nicht kommende Generationen belasten m{\\\\\\\"u}ssen; allerdings verursachte der Konsumboom gro{\\\\ss}e Leistungsbilanzprobleme. Besonders hoch ist das Budgetdefizit der kleinen EG-L{\\\\\\\"a}nder. Auch nach fast allen anderen Wirtschaftsindikatoren schneiden diese schlechter ab als die EFTA-L{\\\\\\\"a}nder und die gro{\\\\ss}en EG-Staaten.\\\",<\\\/div><div>  keywords = \\\"Budgetsanierung in Europa; Budget Consolidation in Western Europe, Budgetsanierung in Europa; Budget Consolidation in Western Europe\\\",<\\\/div><div>  author   = \\\"Ewald Walterskirchen\\\",<\\\/div><div>  year     = \\\"1990\\\",<\\\/div><div>  month    = jan,<\\\/div><div>  language = \\\"Deutsch\\\",<\\\/div><div>  volume   = \\\"63\\\",<\\\/div><div>  pages    = \\\"37--46\\\",<\\\/div><div>  journal  = \\\"WIFO-Monatsberichte\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Budgetsanierung in Europa<\\\/p><p>AU  - Walterskirchen, Ewald<\\\/p><p>PY  - 1990\\\/1<\\\/p><p>Y1  - 1990\\\/1<\\\/p><p>N2  - Die Budgetsanierung kommt in \u00d6sterreich seit 1987 so rasch wie im Ausland voran. Au\u00dferordentlich gro\u00dfe Konsolidierungserfolge konnten die vier skandinavischen L\u00e4nder und Gro\u00dfbritannien erzielen, ohne Wachstum und Besch\u00e4ftigung zu beeintr\u00e4chtigen. Ein Konsumboom \u2013 infolge der Liberalisierung des Kreditmarktes bei steuerlich absetzaren Kreditzinsen \u2013 hat zum Sanierungserfolg entscheidend beigetragen. Der Weg dieser f\u00fcnf L\u00e4nder zeigt, da\u00df Budgetdefizite nicht kommende Generationen belasten m\u00fcssen; allerdings verursachte der Konsumboom gro\u00dfe Leistungsbilanzprobleme. Besonders hoch ist das Budgetdefizit der kleinen EG-L\u00e4nder. Auch nach fast allen anderen Wirtschaftsindikatoren schneiden diese schlechter ab als die EFTA-L\u00e4nder und die gro\u00dfen EG-Staaten.<\\\/p><p>AB  - Die Budgetsanierung kommt in \u00d6sterreich seit 1987 so rasch wie im Ausland voran. Au\u00dferordentlich gro\u00dfe Konsolidierungserfolge konnten die vier skandinavischen L\u00e4nder und Gro\u00dfbritannien erzielen, ohne Wachstum und Besch\u00e4ftigung zu beeintr\u00e4chtigen. Ein Konsumboom \u2013 infolge der Liberalisierung des Kreditmarktes bei steuerlich absetzaren Kreditzinsen \u2013 hat zum Sanierungserfolg entscheidend beigetragen. Der Weg dieser f\u00fcnf L\u00e4nder zeigt, da\u00df Budgetdefizite nicht kommende Generationen belasten m\u00fcssen; allerdings verursachte der Konsumboom gro\u00dfe Leistungsbilanzprobleme. Besonders hoch ist das Budgetdefizit der kleinen EG-L\u00e4nder. Auch nach fast allen anderen Wirtschaftsindikatoren schneiden diese schlechter ab als die EFTA-L\u00e4nder und die gro\u00dfen EG-Staaten.<\\\/p><p>KW  - Budgetsanierung in Europa; Budget Consolidation in Western Europe<\\\/p><p>KW  - Budgetsanierung in Europa; Budget Consolidation in Western Europe<\\\/p><p>M3  - WIFO-Schriftenreihen<\\\/p><p>VL  - 63<\\\/p><p>SP  - 37<\\\/p><p>EP  - 46<\\\/p><p>JO  - WIFO-Monatsberichte<\\\/p><p>JF  - WIFO-Monatsberichte<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","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 v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Budget Consolidation in Western Europe - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/88129\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget Consolidation in Western Europe\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/88129\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-06T23:21:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/88129\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/88129\\\/\",\"name\":\"Budget Consolidation in Western Europe - 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