A few reflections on fiscal and monetary policy in the euro area (by J. Pöschl; pp. 1-3) Keywords fiscal policy, monetary policy, euro area Countries covered EU Topics Macroeconomic Analysis and Policy; International Trade, Competitiveness and FDI Unit labour costs, exchange rates and responses...

Unit labour costs (ULCs) are one of the key economic variables considered in the context of globalization, competitiveness and production-location decisions. With the EU accession of eight Central and East European countries and their (almost) full inclusion in the European Single Market, the...

(Reprint from WIFO-Monatsberichte, Vol. 86, No. 5, May 2013) Zusammenfassung Wachstumsbeschleunigung dank Investitionswende in Mittel-, Ost- und Südosteuropa Das Wirtschaftswachstum wird sich in den mittel-, ost- und südosteuropäischen Ländern 2014 bis 2016 verstärken und durchschnittlich...

The present economic crisis bears all the familiar hallmarks of the financial, debt-related and structural aspects of current account crises. All these aspects have lasting level effects and recovery can be very protracted. Export-led growth was an important feature of the recovery period...

Summary Continued weak external demand and uncertain recovery of investments will allow for only modest growth prospects for the countries of Central, East and Southeast Europe (CESEE) this year. Slovenia, Croatia and the Czech Republic will remain in recession. Russia, Ukraine and the Baltic...

This study explores the determinants of sectoral wage dynamics in Croatia, including intersectoral wage linkages. Wage formation in the exporting sectors receives particular focus. Exporters are found to be wage leaders and labor productivity is a more important wage determinant for exporting...

The elasticity of the new EU Member States’ imports implications for external rebalancing in Europe (by Leon Podkaminer) State aid and export competitiveness in the EU – first results (by Roman Stöllinger and Mario Holzner) European financial policy, as if banking mattered (Further notes on...

(Reprint from WIFO-Monatsberichte, Vol. 87, No. 5, May 2014) Zusammenfassung Wachstumsbeschleunigung dank Investitionswende in Mittel-, Ost- und Südosteuropa Das Wirtschaftswachstum wird sich in den mittel-, ost- und südosteuropäischen Ländern 2014 bis 2016 verstärken und durchschnittlich...

Summary This study analyses the impact of knowledge assets on productivity and technical efficiency in the EU, as well as their role in the process of knowledge transfer. The analysis covers the role of the institutional and regulatory environment in affecting productivity and technical...

Summary Despite near stagnation in the euro area and the negative impact of the Ukraine crisis, in most of the NMS economies and some of the Western Balkan countries growth prospects are viewed as positive. While the NMS economies will preserve their positive growth differential vis-à-vis the...