Macroeconomics and European Economic Policy


The Research Group "Macroeconomics and European Economic Policy" analyses macroeconomic developments and policy in Austria and the European Union. It monitors the business cycle and compiles economic forecasts of different terms. The regular forecasts combine the expertise of other Research Groups to yield a basis for policy decisions in Austria. The above activities are founded on empirical research in macroeconomics, economic policy and public economics.

SeriesDate de eu usa
Date.UTC(2007,0,1) 0.4 0.6 1.8
Date.UTC(2008,0,1) 0.4 1.0 1.6
Date.UTC(2009,0,1) 1.8 0.7 -1.3
Date.UTC(2010,0,1) -2.3 -0.3 -0.8
Date.UTC(2011,0,1) -0.8 1.3 1.3
Date.UTC(2012,0,1) 0.2 1.6 -1.5
Date.UTC(2013,0,1) -0.5 0.2 -1.8
Date.UTC(2014,0,1) -1.5 -0.7 -1.8
Date.UTC(2015,0,1) -0.6 -1.0 -1.8
Date.UTC(2016,0,1) -0.2 0.1 0.4
Date.UTC(2017,0,1) 0.4 0.2 0.4
Date.UTC(2018,0,1) 1.3 0.8 -0.2
Date.UTC(2019,0,1) 0.9 0.4 -0.8
Date.UTC(2020,0,1) 0.0 0.0 -0.2

Business cycles and economic growth

The focus is on ongoing business cycle monitoring and the development of quarterly business forecasts for the Austrian and global economy. The forecasts are based on WIFO's flash estimates and regular estimates of quarterly national accounts. The Group contributes, in collaboration with Deutsches Institut für Wirtschaftsforschung (DIW), to the joint business cycle forecast for Germany ("Gemeinschaftsdiagnose"). The Group uses econometric models to develop projections over medium-term and long-term horizons. These models are also used to obtain quantitative estimates for various economic policy measures. Empirical research on financial markets, inflation and the monetary policy in the euro area explores the interaction between financial and real economy.

Public sector

The Group analyses Austrian and European fiscal policy. It scrutinises government revenues, spending, and the interaction between budgets at the various government levels, fiscal federalism and efficiency of public administration. Macroeconomic forecasts contribute to official public sector budget forecasts and vice versa. Evaluations of public expenditures and revenues as well as governmental regulations contribute to our understanding of the implications of fiscal policy for economic growth in the long run.

The Research Group's projects and publications

Current projects

WIFO publications

Staff members

Jürgen Bierbaumer-Polly

Function: Research staff member, Research group coordinator