Since the onset of the banking crisis numerous proposals for an improvement of the financial system have been developed. The focus is on a reorientation of banking and financial market regulation. There is a consensus that the regulatory framework will have to be strengthened by macro-prudential...

The current capital accord ("Basel I") has been found inadequate in strengthening the stability of the international banking system. Its undifferentiated and inexact registration of credit risks and the breakneck pace of introducing innovative financial tools have greatly impaired its...

Over the last sixty-eight years, WIFO has published the main results of its empirical work in the "Monatsberichte" in German language. In recent years, we noted an increasing interest from abroad on Austrian economic issues. At the same time, our own focus shifted or, more accurately, widened...

At present it is not possible to gauge the extent of the financial and economic crisis in South-East Asia. The effect of this crisis on Austria will, however, remain marginal: there are few direct trade links between Austria and the countries in question (exports to these countries amount only...

This article deals with the importance of corporate citizenship for the attractiveness of a modern, competitive location of business activities. Empirical evidence supports the hypothesis that within internationally active business firms, departments with high value-added and departments with...

Globalization and the liberalization of capital movements have increased the fragility of financial markets. The dangers resulting from unstable and crisis-prone financial markets can hardly be over-estimated and deserve the highest attention of economic policy. The latest currency crises in...

Monetary and fiscal authorities in many industrial countries use the concept of aggregate potential output as an analytical device to monitor underlying trends or structural developments in key macroeconomic policy variables. Above all, aggregate potential output serves economic policy and...

Due to their very limited access to the capital market bank financing is of outstanding importance for small and medium-sized companies. Often, however, the latter can only barely provide the collateral corresponding to the enhanced capital requirements for financial institutions (Basel III). As...