EconPapers    
Economics at your fingertips  
 

Austrian Public Debt Growth: A Public Choice Perspective

Reinhard Neck, Gottfried Haber and Andrea Klinglmair

International Advances in Economic Research, 2015, vol. 21, issue 3, 249-260

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. Copyright International Atlantic Economic Society 2015

Keywords: Fiscal policy; Sustainability; Time series; Econometric tests; Stationarity; H6; E6 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1007/s11294-015-9531-2 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:iaecre:v:21:y:2015:i:3:p:249-260:10.1007/s11294-015-9531-2

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/11294

DOI: 10.1007/s11294-015-9531-2

Access Statistics for this article

International Advances in Economic Research is currently edited by Katherine S. Virgo

More articles in International Advances in Economic Research from Springer, International Atlantic Economic Society Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2021-01-20
Handle: RePEc:kap:iaecre:v:21:y:2015:i:3:p:249-260:10.1007/s11294-015-9531-2