Employment multipiers and the filling of jobs in Austria

On the basis of a macroeconomic disaggregated model of the Austrian economy (Dynamic New Keynesian model – DYNK, developed by WIFO) value-added and employment multipliers are calculated for different final-demand categories. The economic impact on employment distinguishes between independent and dependent employment, the latter also by age group, sex and secured versus new jobs. The newly created jobs start a sequence of job changes. These job chains are calculated on the basis of a Markov model. In addition, the paper deals with the question of how the labour market entrance of young people is affected by the retention of older workers.