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Zur Finanzierung der deutschen Einigung - Eine optimal control-Analyse mit dem RWI-Konjunkturmodel
Heilemann, Ullrich | Barabas, György
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 119 (1999), Iss. 3 : pp. 373–398
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Heilemann, Ullrich
Barabas, György
Abstract
The paper analyses the possibilities of West German fiscal policy as to an optimal financing of unification with respect to economic growth, price stability and public deficit during the period 1991 to 1993. The instruments employed are the most important items on the revenue and expenditure side of the government budget. The problem was solved by a multi-criteria decision making method (reference-point approach), the model used was the macroeconometric RWI-business cycle model. All in all, being aware of the limitations of this kind of simulation exercises, German fiscal policy in this period seems to have been not so far away from an optimal fiscal policy mix as often assumed.