Sustainability of public finance

The ability of public budgets (federal, state, local and parafisci) to service all liabilities over time. If there are doubts about this, economic agents will react by taking appropriate action – such as shorter maturities for loans, contracts to hedge the consequences of government default – which will be reflected in the financial markets in a variety of ways. – See aging, adjustment inflation, mandatory, expenditure ratio, European Monetary Fund, BudgetTricks, budget pre-reconciliation, European, sustainability, shadow government, debt ratio, Semester, European, government debt reduction, Stability and Growth Pact, fiscal framework, welfare state trap, constitutional article one Wagner’s Law. – Cf. ECB Monthly Bulletin of February 2007, pp. 65 ff. (sustainability within the EU), ECB Monthly Bulletin of December 2009, pp. 97 ff. (European Commission Sustainability Report 2009; overviews), ECB Monthly Bulletin of March 2010, pp. 96 ff. (forward guidance to 2028 in the euro area; overviews), ECB Monthly Bulletin of July 2011, pp. 31 ff. (forward guidance to 2020).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/