We build a fully micro-founded dynamic general equilibrium (DSGE) model, which is estimated employing Bayesian methods. The model captures the most salient features of Austria as a small open economy, the Euro Area (EA) and the United States (U.S.). Further analysis is conducted through...

Aus ökonomischer Sicht werden hier 100 Jahre Österreich beleuchtet und Schlussfolgerungen für die Zukunft gezogen. Die Republik Österreich besteht nicht durchgehend seit 100 Jahren; sie ging zwischen 1938 und 1945 unter. Im Gegensatz zur Sicht eines Historikers, der chronologisch und sehr...

We build a fully micro-founded dynamic general equilibrium (DSGE) model, which is estimated employing Bayesian methods. The model captures the most salient features of Austria as a small open economy, the Euro Area (EA) and the United States (U.S.). Further analysis is conducted through...

In order to cushion the impact of the financial and economic crisis on the real economy, the Austrian government adopted fiscal stabilisation packages. Relative to GDP, these are among the largest in an international comparison, amounting to 4.2 percent of 2008 GDP in cumulative terms and...

The assessment of 10 years of EMU is ambivalent. On the one hand, the introduction of the common currency has contributed towards price stability and the euro has acquired a global status next to the dollar. Monetary Union has also stimulated cross-border trade within the euro area. On the other...

The tax reform 2004-05 includes tax cuts within income taxation (€ –2.2 billion) and corporate taxation (€ –1.1 billion) as well as increases of several excise taxes (€ +232 million). The changes in the income tax rate scale taking effect in 2005 will increase tax progression and...