The Financial Market Crisis and Budget Policy

Hans Pitlik and Margit Schratzenstaller

Austrian Economic Quarterly, 2010, vol. 15, issue 1, 103-108

Abstract: The high public deficits expected in the coming years can largely be attributed to the budgetary effects of the financial market and economic crisis. Against the backdrop of a long term budget burden through increased debt and a demographically-related increase in expenditures, it is all the more urgent to find a suitable strategy for the rebalancing of the budget once the crisis is over. Potential for a consolidation of the budget can mainly be found in expenditures, while it is limited with respect to revenues.

Keywords: Financial Market Crisis; Budget Policy (search for similar items in EconPapers)
Date: 2010
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