There are several narratives connecting the financial crisis - as well as the Great Depression of the 1930s - with the functional or personal income distribution and its pre-crisis movements. The paper investigates whether this claim can be supported with evidence showing that the crisis was...

There are several narratives connecting the financial crisis - as well as the Great Depression of the 1930s - with the functional or personal income distribution and its pre-crisis movements. The paper investigates whether this claim can be supported with evidence showing that the crisis was...

There are large differences between Steindl's ideas on growth policies and the Brussels/Paris consensus. Steindl called for innovation and education policies, whereas the mainstream today rather favours deregulation and privatization. Steindl stressed the positive demand-side effects of the...

Price competitiveness of Austria's manufacturing sector, which had deteriorated significantly in the first half of the 1990s, improved markedly in 1996. Modest increases in labor costs (+3.4 percent) together with persistently high productivity gains (+4½ percent) resulted in a drop in unit...

Although the size of the public sector is large in Austria, its redistributive impact from high to low income classes is limited: on the revenue side, indirect taxation is high and, on the expenditure side, the principle of horizontal equity is prevalent. In Austria, income and property taxation...

The Gulf crisis has caused new turbulence in the world oil market. Price developments in the near future will essentially depend on whether a military conflict can be avoided or not. Given this uncertainty two scenarios were elaborated: a main version with spot market prices remaining at about...

In 2005, unit labour costs in Austrian manufacturing decreased by 0.7 percent but their relative ranking compared to the average of its trading partners in a single currency remained unchanged (+1 percent). Austria's overall competitive position continued to improve in this decade, in 2005 by 1...

Over the last two decades Austria was able to reduce the productivity gap vis-à-vis the FRG as well as the EC by 10 percentage points. Thus, in 1988 labour productivity in Austria was as high as in the EC. In the eighties the room for real wage increases was not fully exploited: Real wages grew...