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Austrian Economy Prepared for EMU. Medium-term Projection for the Austrian Economy Until 2002

Author

Listed:
  • Fritz Schebeck

    (WIFO)

  • Andrea Weber

    (WIFO)

Abstract

In 1997–2002, Austrian GDP will grow by 2¾ percent p.a. on average in real terms. Supported by the strong competitive position of Austria's external sector, exports will continue their dynamic growth and the net exports are expected to furnish a positive contribution to GDP. Domestic demand in the projection period will be fuelled by the brisk growth of private consumption (+2 percent p.a. on average in real terms). As a consequence of a similar growth in real disposable income of private households, the household savings ratio will once again move towards its long-term equilibrium value. Gross fixed capital formation up to 2002 will rise at double the pace of 1991–1997, deriving its dynamism from machinery and equipment investment rather than construction investments. As a result of production expansion and measures under the National Action Plan for Employment, additional jobs could be created and unemployment could be slightly lower at the end of the projection period.

Suggested Citation

  • Fritz Schebeck & Andrea Weber, 1999. "Austrian Economy Prepared for EMU. Medium-term Projection for the Austrian Economy Until 2002," Austrian Economic Quarterly, WIFO, vol. 4(1), pages 21-29, January.
    • Handle: RePEc:wfo:wquart:y:1999:i:1:p:21-29
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    References listed on IDEAS

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    1. Gernot Hutschenreiter & Michael Peneder, 1997. "Austria's "Technology Gap" in Foreign Trade," Austrian Economic Quarterly, WIFO, vol. 2(2), pages 75-86, April.
    2. Stephan Schulmeister, 1998. "Finanzmarktturbulenzen beeinträchtigen internationale Wachstumsdynamik. Mittelfristige Prognose der Weltwirtschaft bis 2002," WIFO Monatsberichte (monthly reports), WIFO, vol. 71(12), pages 831-843, December.
    3. Ewald Walterskirchen, 1998. "High Economic Growth in 1998, but Increasing Risks in 1999. Economic Outlook for 1998 and 1999," WIFO Monatsberichte (monthly reports), WIFO, vol. 71(10), pages 659-660, October.
    4. Ewald Walterskirchen, 1998. "High Economic Growth in 1998, but Increasing Risks in 1999. Economic Outlook for 1998 and 1999," Austrian Economic Quarterly, WIFO, vol. 3(4), pages 167-175, October.
    5. Josef Baumgartner & Fritz Breuss & Helmut Kramer & Ewald Walterskirchen, 1997. "Auswirkungen der Wirtschafts- und Währungsunion," WIFO Studies, WIFO, number 2824.
    6. Alois Guger, 1998. "Sharp Drop in Relative Labor Costs and Unit Labor Costs in Manufacturing in 1997," Austrian Economic Quarterly, WIFO, vol. 3(4), pages 229-235, October.
    7. Alois Guger, 1998. "1997 kräftiger Rückgang der relativen Lohn- und Lohnstückkosten der Industrie," WIFO Monatsberichte (monthly reports), WIFO, vol. 71(9), pages 609-615, September.
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    Cited by:

    1. Fritz Breuss & Andrea Weber, 1999. "Macroeconomic Effects of the Year-2000 Tax Reform," Austrian Economic Quarterly, WIFO, vol. 4(3), pages 211-217, July.

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