In this Policy Brief by the WIFO economists Angela Köppl, Stefan Schleicher and Margit Schratzenstaller a supporting argumentation for the pricing of greenhouse gas emissions as instrument for climate policy is presented.

The global economy has been gradually weakening since the first half of 2018. It is predicted that growth will remain sluggish in the coming years. The Austrian economy is expected to grow by +1.4 percent per year on average in the forecast period 2020-2024 (2015-2019 +1.9 percent p.a.), slightly (+0.1 percentage point) stronger than the euro area average.

With articles from Josef Baumgartner, Julia Bock-Schappelwein, Stefan Ederer, Werner Hölzl, Serguei Kaniovski, Michael Klien, Thomas Leoni, Stefan Schiman and Franz Sinabell.

Economic growth in Austria is gradually decelerating to a moderate pace over the forecast period. The lack of dynamism in the global economy dampens exports and manufacturing output. Yet, favourable financing conditions, fiscal stimulus and resilient private consumption provide support to economic activity. GDP is expected to grow by 1.7 percent in 2019 and 1.4 percent in 2020.

WIFO's long-standing research tradition in the field of competitiveness is bundled on this new Thematic Platform. It pursues three objectives: firstly, the theoretical foundation and justification of measurement concepts and possible economic policy interrelationships and interventions; secondly, the processing of comprehensive, systematic and thus clear indicator systems on the results and determinants of competitiveness as an information basis for economic policy; and thirdly, the development of expertise in selected policy areas of competitiveness.