The financial crisis has brought about an economic recession which is more severe and widespread than any decline in production in the past 50 years. In the USA and Europe the decline in production over the entire economy was, however, much less than during the Great Depression of the 1930s....

In 2004 the Republic of Slovenia entered the European Union and, as a matter of principle, was guaranteed the four freedoms (free trans-national mobility of goods, services, capital and labour). From an economic viewpoint, this guarantee should provide the required institutional framework to...

This paper compares the depth and length of the recent crisis with the Great Depression in the 1930s. It claims that economic policy played a crucial role in shortening and curtailing the recent crisis. We analyse which policies were applied during the recent crisis and which measures worked. We...

There is evidence that a budget consolidation strategy can work with only a small and short lived negative impact on growth. However, this time consolidation is taking place in the aftermath of a deep crisis which had lead to increased levels of uncertainty. In addition the financial sector, as...

We offer an empirical, econometric analysis of the impact of migration on the EU 27's NUTS-2 regions in the period 2000-2007. While our results indicate that migration had no statistical impact on regional unemployment in the EU it had a significant impact on both per-capita GDP and...

When dealing with credit booms driven by capital inflows, monetary authorities in emerging markets are often reluctant to raise interest rates, as they fear that an increase attracts even more capital and appreciates the currency. A number of countries therefore use reserve requirements as an...

This paper provides an economic assessment of export credit guarantee commitments by the Austrian export credit agency, using firm-level data on a cross-section of 178 Austrian exporting firms for the year 2008. In a first step, we estimate the relative importance of various determinants of...

Post-war European integration is a succession of regime changes: customs union in the 1960s, Single Market and EMU in the 1990s and EU enlargement in the 2000s. Since 1995 Austria as an EU member takes part in the deepening of EU integration (Single Market, EMU and Monetary Union) and...