NDLI: Austrian Public Debt Growth: A Public Choice Perspective

Content Provider	Springer Nature Link
Author	Neck, Reinhard Haber, Gottfried Klinglmair, Andrea
Copyright Year	2015
Abstract	This paper analyzes whether Austrian fiscal policies have been sustainable during the last five decades, concentrating on the federal (central state) level. Tests indicate that Austrian fiscal policies were sustainable, though with a decreasing weight attached to this goal. Starting in 1975, the unemployment rate played a significant role in the sense of a counter-cyclical orientation of Austrian fiscal policy as part of the concept of “Austrokeynesianism.” The development of public debt in Austria seems to be driven primarily not by ideology, but by structural causes and a shift of the budgetary policy paradigm. We find empirical evidence that governments in Austria dominated solely by one party run higher deficits than coalitions of the two large parties or the two conservative parties. There are no indications of a political business cycle.
Starting Page	249
Ending Page	260
Page Count	12
File Format	PDF
ISSN	10830898
Journal	International Advances in Economic Research
Volume Number	21
Issue Number	3
e-ISSN	1573966X
Language	English
Publisher	Springer US
Publisher Date	2015-07-01
Publisher Place	New York
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Fiscal policy Sustainability Time series Econometric tests Stationarity Economics general Macroeconomics/Monetary Economics International Economics Microeconomics Economic Growth
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
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3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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