The Austrian economy will not regain significant momentum before 2014. During the forecast period from 2012 until 2016 real GDP will grow by 1.6 percent per year on average. Exports will expand by 5.5 percent per year. Imports, by contrast, will increase by only 5.1 percent. The average...

Im Prognosezeitraum 2013/2017 entwickelt sich die österreichische Wirtschaft wenig dynamisch. Mit +2% erreicht das BIP-Wachstum 2015 seinen Höchstwert. Gedämpft wird die Expansion sowohl durch die anhaltende Konjunkturschwäche im Euro-Raum als auch durch das mäßige Konsumwachstum im...

Led by a dynamic export growth real GDP in Austria grew by 2 percent in 2010. Between 2011 until 2015 the Austrian economy is expected to grow by 2.2 percent. The annual growth rate of trend output will average at 1.7 percent in the forecast period, ¼ percentage point below the average of the...

This report collects and draws conclusions from research papers of Area 1. It summarises the results against the background of the existing literature, focusing in particular on the challenges arising on welfare states from globalisation, post-industrialisation, and demographic changes. The...

It is frequently claimed that high levels of generalised trust are conducive for economic reforms. In contrast, the "traditional view" on institutional and political constraints on the executive (IPCE) postulates that high IPCE tend to paralyse the decision-making process, thus blocking required...

Recent research has shown that the degree to which people feel they are in control of their lives is an important correlate of individual happiness, where those that feel more in control are also found to be systematically happier. In turn, the economic sources of perceived life control are only...

In 2013, the European Union and United States initiated a new political dialogue regarding a further deepening of bilateral trade and investment relations, the TTIP (Transatlantic Trade and Investment Partnership). In some member states, anti-TTIP street protests and political activists received...

Ever since Max Weber (1930) uncovered the cultural origins of capitalism, a common denominator for explanations of economic development is that "individualistic values" provide a more favourable background for promoting the wealth of nations. This paper investigates the impact of individualist...

According to the fiscal federalism literature sub-central budget constraints become softer when local governments are more dependent on revenues over which they have no discretion. As a consequence of higher "transfer dependency", sub-central governments can expect to be bailed out by the...