This cross-country paper explains differences in external sector performance among four large euro area countries—France, Germany, Italy, and Spain. The paper discusses that during 2001–04, the performance of the external sector differed markedly among these four largest euro area countries....

Fiscal deficits and the public debt has grown throughout much of the postwar period in most industrialized countries under the pressure of rising public expenditure, a trend that has begun to reverse after 1992. A number of studies argue that fiscal consolidation in association with expenditure...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

Austria’s recession had limited effects on unemployment. Investment declined sharply but consumption helped cushion the recession, supported by tax cuts and various labor market measures together with large increases in real wages. Austria’s fiscal position has weakened significantly in...

This Selected Issues paper estimates a dynamic model of foreign currency loans to households in Austria to analyze their behavior and assess the effectiveness of measures intended to stem their rise. This paper also studies the developments in Austria’s economic linkages with Germany and the...

This report is focused on the impact of the financial crisis on the Austrian economy and the financial sector, the authorities’ policy responses, and macrofinancial linkages and spillovers. The financial sector has been expanding rapidly, mostly outside Austria. This has brought substantial...

The Austrian authorities have been making great efforts since 2003 to enhance the quality of banking supervision and keep up-to-date with banking sector developments. Banks face a reputation risk arising from exposure to money laundering/financing of terrorism risk in both domestic and...

This technical note focuses on the Austrian banking system that exhibits considerable resilience against shocks determined by stress tests. The main sources of risk lie in the credit risk arising from exposures to Central, Eastern, and Southeastern Europe (CESE) and the Commonwealth of...

This paper reviews economic developments in Austria during 1995–96. A review of developments and short-term prospects for the domestic economy, the public finances, monetary and exchange rate policy, and the balance of payments is presented. Several estimates of potential output and the output...

This paper presents a Detailed Assessment Report on Antimoney Laundering (AML) and Combating the Financing of Terrorism (CFT) for Austria. The authorities have designed and are implementing a comprehensive AML/CFT system, supported by well-developed federal administrative and supervisory bodies,...