There are large differences between Steindls 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...

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...