|
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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