Inter-industry trade and foreign trade are usually not based on cash transactions; rather sales on credit are the rule. The resulting monitoring costs for lenders and the risk of default on accounts receivable form an additional part of transaction costs in trade. Export credit certainly faces...

In this study we use a long run macroeconomic model for Austria to simulate the effects of aging on employment, output growth, and the solvency of the social security system. By disaggregating the population into six age cohorts and modelling sex specific participation rates for each cohort, we...

We integrate age specific productivity differentials into a long-run neoclassical growth model for the Austrian economy with a highly disaggregated labor supply structure. We assume two life time productivity profiles reflecting either small or large hump-shaped productivity differentials and...

The integration of European services markets and the associated deregulation measures open up formerly segmented markets to competition from the Single Market. The purpose of this study is to propose a method of measuring the effects of liberalization on technical efficiency, the existence of...

In this paper we develop a long run macroeconomic model for Austria to simulate the effects of aging on employment, output growth, and the solvency of the social security system. By disaggregating the population into six age cohorts and modelling sex specific participation rates for each cohort,...