On the need for intertemporal analysis

Public policies should take into account intertemporal developments and the intertemporal effects of economic policies. This means, for example: Asking whether the need to support purchasing power is transitory or permanent. If it is permanent, then policies to support purchasing power should not be financed with public debt today; Asking whether the economy’s structural situation will be better in the future. This is doubtful today, given population ageing and the slowdown in productivity gains. This is a second reason not to increase public debt today; Taking into account the considerable and lasting need for investment related to the energy transition, which means not committing to using public money to finance current public spending.