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English
AutorIn 1:
Kaniovski, Serguei
AutorIn 2:
Url, Thomas
AutorIn 3:
Hofer, Helmut
weitere AutorInnen:
Garstenauer, Viola
HerausgeberIn 1:
Österreichisches Institut für Wirtschaftsforschung (WIFO)
Titel:
A Long-run Macroeconomic Model of the Austrian Economy (A-LMM 2.0) - New Results (2021)
Auftraggeber:
Federal Ministry of Labour, Social Affairs, Health and Consumer Protection
Auftragnehmer:
Austrian Institute of Economic Research, Institute for Advanced Studies
Ort:
Wien
Verlag:
Österreichisches Institut für Wirtschaftsforschung (WIFO)
Jahr:
2021
Abstract:
"(...) We use an updated version of the Austrian Long-run Macroeconomic Model (A-LMM) for a long-term projection of the Austrian economy until 2075. Our baseline scenario is the input for microsimulation models of the Austrian pension insurance system. A-LMM 2.0 is a neoclassical growth model using demographic indicators to determine TFPgrowth, the savings and the inflation rate. The model allows for labour saving technological progress and replicates stylised facts about growing market economies with an ageing population. The current model update incorporates the recent population forecast, information from labour market and national accounts data. Compared to the previous report we expect higher labour market participation rates, lower output growth, and a temporary upswing in inflation. (...)"
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URL:
 Österreichisches Institut für Wirtschaftsforschung (WIFO)