We analyze the fertility and health effects resulting from the abolition of the Austrian baby bonus in January 1997. The abolition of the benefit was publicly announced about ten months in advance, creating the opportunity for prospective parents to (re-)schedule conceptions accordingly. We find...

This study assesses the claim that the Austrian economy depends mainly on the German business cycle. Controlling for possible influences from the U.S. economy, it is confirmed that the Austrian and German industrial production indexes have a common long-term stochastic trend and the German...

For more than 100 years the “American system” of adjudication mastered by one Supreme Court vested also and in particular with the power to review administrative as well as legislative acts enjoyed the virtual monopoly to serve as the role-model of Constitutional review. When the Austrian...

Anpassungsvorgänge an sich verändernde ökonomische Rahmenbedingungen erfolgen oft nicht mit der Geschwindigkeit, mit der sie sich nach vordergründigen Erwartungen vollziehen sollten. Beispielsweise ist zu beobachten, dass Betriebe technologische Neuerungen häufig erst später übernehmen...

This paper reports on the Austrian research project “Renewable energy in Austria: Modeling possible development trends until 2020”. The project investigated possible economic and ecological effects of a substantially increased use of renewable energy sources in Austria. Together with...

Farm-level adaptation to changing economic environments is often slower than expected. Technological innovations, for instance, are frequently adopted at a later date than the net present value of investment suggests. This can be explained by a model of “investment under uncertainty,” which...

There is no secret concerning the reasons Murray N. Rothbard inaugurated the Review of Austrian Economics (RAE). It was to promote the Austrian research agenda, and to enhance two-way communication between economists guided by praxeological considerations and their counterparts in the positivist...

How do neoclassical economists reply to Austrian critiques of their work? Typically, although to be sure there are exceptions, they ignore them. That is, the former move mountains in an effort to avoid the arguments of the latter. Sometimes this occurs even when neoclassicals explicitly reply to...

There are two views of monopoly within what might be called the broad Austrian camp. According to the Mises-Kirzner view, monopoly price can exist on the free market, and a necessary part of its definition is a purposeful withholding of resources on the part of the monopolist. Rothbard, however,...

This study presents patterns of productivity change in a large set of 266 public higher education institutions (HEIs) from 7 European countries across the time period 2001-2005. We adopt consistent bootstrap estimation procedures to obtain confidence intervals for Malmquist indices of HEI...