{"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":"","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) - 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