On April 9, the European Central Bank reduced interest rates by half a percentage point; this was the first interest rate cut since the launch of the euro. Several model simulations were carried out for the euro area and for Austria, under the assumption that short-term interest rates will...

Die anhaltende Eurokrise, die sich in einer deutlich schlechteren Konjunkturlage in Europa als in den USA spiegelt, hat nicht zuletzt ihre Ursache in der nach wie vor schleppenden Umsetzung der Reformen des Finanzsektors. Während die Lücken in der wirtschaftspolitischen Architektur der WWU...

The major industrialized countries presently find themselves at different stages of the business cycle. While in the U. S. A. the long awaited upturn seems to have started, activity is slowing in Europe and Japan. Forecasts of GDP growth in 1992 have to be revised downwards to 1¾ percent for...

Liberalization of East-West trade since the breakdown of communism in 1989 has seen Austria as a net gainer. Its net exports with the East increased considerably, resulting in a trade surplus of ATS 16.5 billion in 1994, after years of balanced trade before 1989. Although in some sectors the...