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Gradual Recovery Following Severe Recession. Medium-Term Projections for the Austrian Economy until 2014

Author

Listed:
  • Josef Baumgartner
  • Serguei Kaniovski
  • Hans Pitlik

    (WIFO)

Abstract

The global financial and economic crisis will have an adverse effect on Austria's growth in the medium-term. Between 2010 and 2014, gross domestic product will expand by an average of 1.8 percent per year. The recession has lasting effects on the labour market and public finances. The inflation rate will remain low. The forecast assumes that measures to consolidate the public finances are taken as soon as the crisis is overcome in 2011.

Suggested Citation

  • Josef Baumgartner & Serguei Kaniovski & Hans Pitlik, 2010. "Gradual Recovery Following Severe Recession. Medium-Term Projections for the Austrian Economy until 2014," Austrian Economic Quarterly, WIFO, vol. 15(1), pages 13-24, February.
    • Handle: RePEc:wfo:wquart:y:2010:i:1:p:13-24
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    References listed on IDEAS

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    1. Hans Pitlik & Margit Schratzenstaller-Altzinger, 2009. "Finanzmarktkrise und öffentliche Haushalte," WIFO Monatsberichte (monthly reports), WIFO, vol. 82(12), pages 961-966, December.
    2. C. John McDermott & Robert F. Wescott, 1996. "An Empirical Analysis of Fiscal Adjustments," IMF Staff Papers, Palgrave Macmillan, vol. 43(4), pages 725-753, December.
    3. von Hagen, Jurgen & Strauch, Rolf R, 2001. "Fiscal Consolidations: Quality, Economic Conditions, and Success," Public Choice, Springer, vol. 109(3-4), pages 327-346, December.
    4. Markus Marterbauer, 2010. "Stabilisierung der Konjunktur, kein dynamischer Aufschwung. Prognose für 2010 und 2011," WIFO Monatsberichte (monthly reports), WIFO, vol. 83(1), pages 3-16, January.
    5. Doris Prammer, 2004. "Expansionary Fiscal Consolidations? An Appraisal of the Literature on Non-Keynesian Effects of Fiscal Policy and a Case Study for Austria," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 3, pages 34-52.
    6. Markus Marterbauer, 2010. "Cyclical Stabilisation, But No Robust Upturn. Economic Outlook for 2010 and 2011," Austrian Economic Quarterly, WIFO, vol. 15(1), pages 1-12, January.
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