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Between Crises and Reforms: German Fiscal Federalism at a Crossroads

Henrik Enderlein & Camillo Von Müller

versione breve The chapter wants to…
- outline the „deutsche Problem“ of fiscal federalism in international comparison
- discuss impact of financial crisis on framework of German federalism
- identify options of possible next steps in German fiscal federalism

The chapter argues that…
- the financial market crisis has triggered some institutional changes in German fiscal federalism
- the main effects of those changes will become apparent towards the end of this decade only, when states must present structurally balanced budgets
- market participants start to perceive changes in the German system, but still believe in a bailout-guarantee by the Federation
- no coherent strategy for a systemic overhaul is in sight
   
tipo presentazione (English)
   
parole chiave Financial Crisis, Fiscal Federalism, Government Bonds, Spreads
   
date of presentation 12-8-2012
evento The Political Economy of Federalism in Times of Economic Crisis (Harvard Kennedy School, 15 Eliot Street, Cambridge MA (US))
citation Enderlein, H., & von Müller, C. (2012). Between Crises and Reforms: German Fiscal Federalism at a Crossroads. Presented at The Political Economy of Federalism in Times of Economic Crisis, Harvard Kennedy School, 15 Eliot Street, Cambridge MA (US).
   
profile area SEPS - Economic Policy