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Government Debt/Economic Theories: It is also possible to introduce a rule binding in fiscal policy. In the recent economic policy debate, for example, attempts have been made to distinguish between cyclical and structural government budget deficits. See Govenrment Debt/Keynesianism, Government Debt/Neoclassical Theories.
Def Output Gap: indicates the severity of the economic downturn.
Budget elasticity: indicates the extent to which the government deficit automatically rises in the event of an economic downturn, as tax revenues fall as a result of the economic situation and government spending increases as a result of the economic situation (so-called automatic stabilisers).
Def Crowding Out: Displacement of private expenditure.
This results when the production potential is already fully exploited, so that higher government spending on goods and services in the long term means that private spending on goods and services must be lower than would be possible without higher government spending._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018