The Effects of Brexit on Austria's Economy

This study provides an update on the trade and welfare effects of brexit for the Austrian economy calculated by WIFO in 2017 ("Estimating the Trade and Welfare Effects of Brexit. A Panel Data Structural Gravity Model"). The estimation is done with a structural gravity model on a disaggregated industry level. The results for different extreme scenarios (hard brexit and soft brexit) are compared with the current state of negotiations in November 2020.