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Crowding-out-Effekte kommunaler Schuldenpolitik in der Bundesrepublik Deutschland

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Alexander, V., Brückmann, F. Crowding-out-Effekte kommunaler Schuldenpolitik in der Bundesrepublik Deutschland. Journal of Contextual Economics – Schmollers Jahrbuch, 98(2), 211-232. https://doi.org/10.3790/schm.98.2.211
Alexander, Volbert and Brückmann, Friedel "Crowding-out-Effekte kommunaler Schuldenpolitik in der Bundesrepublik Deutschland" Journal of Contextual Economics – Schmollers Jahrbuch 98.2, 1978, 211-232. https://doi.org/10.3790/schm.98.2.211
Alexander, Volbert/Brückmann, Friedel (1978): Crowding-out-Effekte kommunaler Schuldenpolitik in der Bundesrepublik Deutschland, in: Journal of Contextual Economics – Schmollers Jahrbuch, vol. 98, iss. 2, 211-232, [online] https://doi.org/10.3790/schm.98.2.211

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Crowding-out-Effekte kommunaler Schuldenpolitik in der Bundesrepublik Deutschland

Alexander, Volbert | Brückmann, Friedel

Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 98 (1978), Iss. 2 : pp. 211–232

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Article Details

Alexander, Volbert

Brückmann, Friedel

References

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Abstract

Though a short analysis of statistical data reveales a procyclical behavior in expenditure- and deficit-policy of German localities, business cycles will not be intensified necessarily, because public expenditures may cause a crowding-out of private demand. The crowding-out-debate shows, that there exists a number of plausible theoretical crowding-out-mechanisms. The empirical findings, however, are very heterogenious. The tests are also full of conceptual fallacies. As German localities finance deficits through book credit from banks it follows, that stronger crowding-out effects will occur than through financing the deficit via bonds. The reason for this is a greater tightness of bank-liquidity.