Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 25, 2010 erstellt
Beschreibung:
The economic crisis of 2008-09 has greatly compounded the challenge of economic policymaking both at the EU level and at the national level by causing a permanent loss in potential output – which may reach between 4 per cent and 6 per cent in the case of Austria (Gaggl and Janger, 2009) – and by sharply driving up public deficit and debt ratios.This study highlights the implications these developments are likely to have for fiscal and structural policymaking in Austria. Section 1 outlines how the economic crisis of 2008-09 and upcoming demographic changes would cause public finances to deteriorate significantly and permanently in the absence of consolidation. Section 2 discusses the timing and composition of consolidation strategies: When should policymakers act, and on which areas should they focus? Section 3 concludes