WIFO White Paper: Simulating Economic-policy Measures for Promoting Growth and Employment

By simulating some economic-policy measures in the WIFO White Paper "Towards Higher Employment via Economic Growth Based on Innovation and Qualification", we can gauge their effectiveness and make a comparative assessment. Impacts can diverge greatly between the short and long term, which is why two WIFO models are applied: the short-term WIFO-Macromod on the one hand and the Austrian Long-run Macroeconomic Model. The short-term results align closer with the empirical correlation between policy action and the Austrian economy, whereas the long-term outcomes take full account of long-range equilibrium conditions.