Business cycles in the U. S., Western Germany and Austria are highly interrelated. As a rule, the primary impact is originating in the U. S. and then transmitted to Western Germany with one ore more quarters' time lag. After at least another three months the repercussions from the German cycle...

After the deepest decline in decades world trade has recovered since the early summer of 2009. However, most recently its volume has still been about one eighth below the peak of April 2008. The strong impulses for the world economy initially originate from the emerging economies in Asia. China...

The unfavourable development of the Austrian labour market in the 1990s is attributable to a number of macro-economic factors. The rise of unemployment is a reflection of the relatively low average rate of economic growth and the 1993 recession. The productivity of labour increased at an...

Future budget consolidation measures – within the framework of the "Stability Pact" – may result in a more significant slow-down of economic growth than that experienced during the 1995-1997 period. One-time effects and outsourcing measures are limited in scope, further interest-rate effects...

In the long term, it is high and increasing unemployment which constitutes the key determinant for a decline in the adjusted wage share and the real unit labour costs. Economic growth plays a similarly important role. Higher investment will increase the profit share. Countries whose economy and...

Against the background of the dramatic aggravation of the financial crisis the world economy is in a downturn. After four years of strong economic growth the economy already cooled down in 2007. World trade has expanded only marginally in recent months. A further weakening in 2009 is already...

Austria's public health system is predominantly financed by payroll-based contributions. The study examines the effects of alternative financing sources. Raising the ceiling on insurable earnings by 25 percent would yield an additional € 220 million per year, which on balance would allow...

Faced with an economic slowdown, the Austria federal government implemented two economic stimulus packages in 2001 and 2002 respectively. These packages provide for additional public expenditure, most of which has been advanced by one or two years, particularly with regard to public...

The world economy continues to expand at a vigorous rate for the fifth year in a row, with real output growth exceeding 5 percent. Downside risks to global economic activity have increased mainly because of the aggravation of the real estate crisis in the USA, where real estate prices have been...

The differences in growth rates of EU countries in the 1995-2003 period can be attributed largely to the development of house prices and their effect on residential construction and private consumption. Rising real estate prices in the Anglo-Saxon and Northern European countries accelerated...