Makroökonomischen Kreislauf orientierte Wirtschaftpolitik zur Lösung der Schuldenkrise. Makromajanduslikule ringlusele orienteeritud majanduspoliitika võlakriisi lahendamiseks
Keywords: Euro-Currency-Area, public debt, supply-side-policy, demand-sidepolicy, economic-circulatory-policy, inflation, stability of the price level, international competition
AbstractHigh public debt is causing serious difficulties, primarily in southern countries of the European Union that suffered the most during the business-crisis. State economists have different strategies for solving these problems, depending on their politico-economical orientation. In the neo-classical sense supply-side-policy orientated economists believe that deficit countries should first of all reduce their debts by starting an economical budget management. Demand-side-policy orientated economists, on the other hand, traditionally believe the exact opposite. Attempts should not be made to solve deficit problems through savings in budget management, although this may, at first, seem to make sense. Essentially it is vital, in this situation, to start extensive development programs to solve the structural problems and to increase the economical productivity and international competition of these countries. Both perspectives are too narrow minded as they are one-sided. They widely neglect the interdependencies of real production and monetary demand, resulting from the economic-circulatory-policy coherences. The pragmatic solution for the deficit crisis would be a combination of both approaches in the sense of: One should do one thing without neglecting the other.
Download data is not yet available.
How to Cite
Hennies, M. O. (2016). Makroökonomischen Kreislauf orientierte Wirtschaftpolitik zur Lösung der Schuldenkrise. Makromajanduslikule ringlusele orienteeritud majanduspoliitika võlakriisi lahendamiseks. Estonian Discussions on Economic Policy, 24(2). https://doi.org/10.15157/tpep.v24i2.13103
EL väikeriigi väliskaubanduslikud ja rahanduslikud probleemid. Handels- und Monetäre Probleme eines kleinen EU-Mitglieds
Copyright (c) 2016 Estonian Discussions on Economic Policy
This work is licensed under a Creative Commons Attribution 4.0 International License.The publication Estonian Discussions on Economic Policy uses the Creative Commons Attribution 4.0 License. With the delivery of a paper, the author grants to the Board also the right to publish the paper in the journal. The journal has set no obstacles or prohibitions to the authors for the future, and according to the current practice, authors subsequently use their paper as they consider it appropriate. Authors are personally responsible for the content, correct spelling and formatting of their publications.