{"id":48999,"date":"2023-11-20T15:44:31","date_gmt":"2023-11-20T14:44:31","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/geopolitical-tensions-energy-crisis-and-inflation-shape-economic-activity\/"},"modified":"2024-04-21T11:55:33","modified_gmt":"2024-04-21T09:55:33","slug":"geopolitical-tensions-energy-crisis-and-inflation-shape-economic-activity","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/48999\/","title":{"rendered":"Geopolitical Tensions, Energy Crisis and Inflation Shape Economic Activity"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-48999","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"The Austrian Economy in 2022","text":"Geopolitical changes and the energy crisis shaped the development of the global economy in 2022. Regionally, economic activity was heterogeneous, with rising uncertainty and supply shortages resulting in high price increases in many countries. Austria's economy continued to expand strongly in the first half of the year, but high inflation dampened consumer and investment demand as the year progressed. Consumer price inflation rose to a peak of 11 percent in the autumn of 2022, leading to, among other things, real wage losses for employees. The Austrian federal government implemented extensive temporary and permanent relief measures to cushion the social and economic impact of inflation and the energy crisis on companies and private households.","onlinedate":"2023-06-02 12:00:00","lang":"English","publication_series":"","publication_date":"20230501","publication_date_year":"","publication_date_full":false,"publication_num_pages":"20","keywords":"[\"Business Cycle Report\"]","jelcodes":"[\"E32\",\"E66\"]","related_publications":"[\"30ebf97e-8de8-4dd5-bd08-9da86ca61e52\"]","pdf":257139,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"7","journal":"WIFO Reports on Austria","publisher":"","invisible":false,"external":false,"embargo_date":"2023-06-02 00:00:00","types":[44424],"research_groups":[3500,3510],"collaboration":"","persons":[3530,3537,3872,4917,3543,3698,3830],"persons_data":"[{\"personId\":3530,\"personName\":\"Josef Baumgartner\",\"organisationNames\":[]},{\"personId\":3537,\"personName\":\"J\u00fcrgen Bierbaumer\",\"organisationNames\":[]},{\"personId\":3872,\"personName\":\"Sandra Bilek-Steindl\",\"organisationNames\":[]},{\"personId\":4917,\"personName\":\"Benjamin Bittschi\",\"organisationNames\":[]},{\"personId\":3543,\"personName\":\"Christian Glocker\",\"organisationNames\":[]},{\"personId\":3698,\"personName\":\"Christine Mayrhuber\",\"organisationNames\":[]},{\"personId\":3830,\"personName\":\"Margit Schratzenstaller\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Baumgartner, J.<\\\/span><span>, Bierbaumer, J.<\\\/span><span>, Bilek-Steindl, S.<\\\/span><span>, Bittschi, B.<\\\/span><span>, Glocker, C.<\\\/span><span>, Mayrhuber, C.<\\\/span><span>, &amp; Schratzenstaller, M.<\\\/span> (2023). <span>Geopolitical Tensions, Energy Crisis and Inflation Shape Economic Activity: The Austrian Economy in 2022<\\\/span>. <span><em>WIFO Reports on Austria<\\\/em><\\\/span>, (7).<\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Baumgartner J<\\\/span><span>, Bierbaumer J<\\\/span><span>, Bilek-Steindl S<\\\/span><span>, Bittschi B<\\\/span><span>, Glocker C<\\\/span><span>, Mayrhuber C<\\\/span> et al. <span class=\\\"title\\\"><span>Geopolitical Tensions, Energy Crisis and Inflation Shape Economic Activity: <span class=\\\"subtitle\\\">The Austrian Economy in 2022<\\\/span><\\\/span><\\\/span>. <span>WIFO Reports on Austria<\\\/span>. 2023 May;(7).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{84c7accb2a364d9f9a7e85e4910e0116,<\\\/div><div>  title    = \\\"Geopolitical Tensions, Energy Crisis and Inflation Shape Economic Activity: The Austrian Economy in 2022\\\",<\\\/div><div>  abstract = \\\"Geopolitical changes and the energy crisis shaped the development of the global economy in 2022. Regionally, economic activity was heterogeneous, with rising uncertainty and supply shortages resulting in high price increases in many countries. Austria's economy continued to expand strongly in the first half of the year, but high inflation dampened consumer and investment demand as the year progressed. Consumer price inflation rose to a peak of 11 percent in the autumn of 2022, leading to, among other things, real wage losses for employees. 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