Standard international trade lectures normally comprises three central theories: the Ricardian Model, the Heckscher-Ohlin-Samuelson Modell and New Trade Theory a la Krugman 1979 and 1980. Nowadays this trilogy needs to be enhanced with the basic concepts of a new class of trade models: the New...

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...

The Austrian economy is expected to grow in 1998 by 3.3 percent, the highest growth rate since 1991. A vigorous expansion of exports and investment outlays form the basis of this dynamic development. Economic activity is set to slow down in 1999, however, as a result of the turbulence on the...

Latest opinion surveys among firms suggest that business activity in the euro area may weaken more significantly than assumed so far. For Austria, the WIFO business survey for the 2nd quarter also indicates that companies are turning more sceptical on the short-term outlook.

Economic growth in Austria is expected to slip by 1 percentage point to 2.2 percent as a result of the sluggishness of the world economy. Private consumption, benefiting from the gains in purchasing power, will buoy economic activity in 1999 and, more strongly, in the year 2000. The year 1999 is...

WIFO's business survey carried at the end of October yields a sligthly more sanguine outlook than in June. Improved business confidence is partly based on higher orders from abroad, which have tended to stabilise exports and manufacturing output. The recovery is mainly carried by increased...

During the last few months, output in Austria's manufacturing industry expanded vigorously; in April, for the first time in many years, the number of jobs in manufacturing increased. The Asian crisis has barely impaired the business climate. At the beginning of the year, output in the...