{"id":54657,"date":"2023-12-01T18:25:13","date_gmt":"2023-12-01T17:25:13","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/25-years-of-austrias-eu-membership-quantifying-the-economic-benefits-with-a-dsge-model\/"},"modified":"2024-11-07T06:17:24","modified_gmt":"2024-11-07T05:17:24","slug":"25-years-of-austrias-eu-membership-quantifying-the-economic-benefits-with-a-dsge-model","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/54657\/","title":{"rendered":"25 Years of Austria's EU Membership. Quantifying the Economic Benefits With a DSGE Model"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-54657","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Austria's EU accession 25 years ago, alongside Finland and Sweden, was preceded by an extended period of convergence toward the EU: via the free trade agreement concluded with the EC in 1973, and the participation in the European Economic Area (EEA) in 1994. Although the COVID-19 crisis in 2020 seems to overshadow the overall positive balance of 25 years of EU membership, on average the real GDP growth dividend amounted to 0.8 percentage points per year since 1995. To check the robustness of this result, obtained with an integration macro model, a DSGE model for Austria is used here. Usually other methods are applied to estimate integration effects: trade gravity models, CGE models, macro models. Following in't Veld's (2019) approach with a DSGE model for the EU, we adapt an earlier version of the two-country DSGE model for Austria and the Euro area (Breuss and Rabitsch, 2009) to evaluate the benefits of Austria's EU membership. It turns out that grosso modo the macro results can be confirmed with the DSGE model.","onlinedate":"2020-06-25 12:00:00","lang":"English","publication_series":"","publication_date":"20200601","publication_date_year":"","publication_date_full":false,"publication_num_pages":"23","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":382889,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"603","journal":"WIFO Working Papers","publisher":"","invisible":false,"external":false,"embargo_date":"2020-06-25 12:00:00","types":[44410],"research_groups":[3500],"collaboration":"","persons":[3917],"persons_data":"[{\"personId\":3917,\"personName\":\"Fritz Breuss\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[40955,125684],"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>Breuss, F.<\\\/span> (2020). <span>25 Years of Austria's EU Membership. Quantifying the Economic Benefits With a DSGE Model<\\\/span>. <span><em>WIFO Working Papers<\\\/em><\\\/span>, (603). <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/66129\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/66129<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Breuss F<\\\/span>. <span class=\\\"title\\\"><span>25 Years of Austria's EU Membership. Quantifying the Economic Benefits With a DSGE Model<\\\/span><\\\/span>. <span>WIFO Working Papers<\\\/span>. 2020 Jun;(603).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{0f42dfbb0ab847b8994003b8fc21d084,<\\\/div><div>  title    = \\\"25 Years of Austria's EU Membership. Quantifying the Economic Benefits With a DSGE Model\\\",<\\\/div><div>  abstract = \\\"Austria's EU accession 25 years ago, alongside Finland and Sweden, was preceded by an extended period of convergence toward the EU: via the free trade agreement concluded with the EC in 1973, and the participation in the European Economic Area (EEA) in 1994. Although the COVID-19 crisis in 2020 seems to overshadow the overall positive balance of 25 years of EU membership, on average the real GDP growth dividend amounted to 0.8 percentage points per year since 1995. To check the robustness of this result, obtained with an integration macro model, a DSGE model for Austria is used here. Usually other methods are applied to estimate integration effects: trade gravity models, CGE models, macro models. Following in't Veld's (2019) approach with a DSGE model for the EU, we adapt an earlier version of the two-country DSGE model for Austria and the Euro area (Breuss and Rabitsch, 2009) to evaluate the benefits of Austria's EU membership. It turns out that grosso modo the macro results can be confirmed with the DSGE model.\\\",<\\\/div><div>  keywords = \\\"European Integration; Model simulations; country studies\\\",<\\\/div><div>  author   = \\\"Fritz Breuss\\\",<\\\/div><div>  note     = \\\"25 Years of Austria's EU Membership. Quantifying the Economic Benefits With a DSGE Model\\\",<\\\/div><div>  year     = \\\"2020\\\",<\\\/div><div>  month    = jun,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  journal  = \\\"WIFO Working Papers\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - 25 Years of Austria's EU Membership. Quantifying the Economic Benefits With a DSGE Model<\\\/p><p>AU  - Breuss, Fritz<\\\/p><p>N1  - 25 Years of Austria's EU Membership. Quantifying the Economic Benefits With a DSGE Model<\\\/p><p>PY  - 2020\\\/6<\\\/p><p>Y1  - 2020\\\/6<\\\/p><p>N2  - Austria's EU accession 25 years ago, alongside Finland and Sweden, was preceded by an extended period of convergence toward the EU: via the free trade agreement concluded with the EC in 1973, and the participation in the European Economic Area (EEA) in 1994. Although the COVID-19 crisis in 2020 seems to overshadow the overall positive balance of 25 years of EU membership, on average the real GDP growth dividend amounted to 0.8 percentage points per year since 1995. To check the robustness of this result, obtained with an integration macro model, a DSGE model for Austria is used here. Usually other methods are applied to estimate integration effects: trade gravity models, CGE models, macro models. Following in't Veld's (2019) approach with a DSGE model for the EU, we adapt an earlier version of the two-country DSGE model for Austria and the Euro area (Breuss and Rabitsch, 2009) to evaluate the benefits of Austria's EU membership. It turns out that grosso modo the macro results can be confirmed with the DSGE model.<\\\/p><p>AB  - Austria's EU accession 25 years ago, alongside Finland and Sweden, was preceded by an extended period of convergence toward the EU: via the free trade agreement concluded with the EC in 1973, and the participation in the European Economic Area (EEA) in 1994. Although the COVID-19 crisis in 2020 seems to overshadow the overall positive balance of 25 years of EU membership, on average the real GDP growth dividend amounted to 0.8 percentage points per year since 1995. To check the robustness of this result, obtained with an integration macro model, a DSGE model for Austria is used here. Usually other methods are applied to estimate integration effects: trade gravity models, CGE models, macro models. Following in't Veld's (2019) approach with a DSGE model for the EU, we adapt an earlier version of the two-country DSGE model for Austria and the Euro area (Breuss and Rabitsch, 2009) to evaluate the benefits of Austria's EU membership. It turns out that grosso modo the macro results can be confirmed with the DSGE model.<\\\/p><p>KW  - European Integration; Model simulations; country studies<\\\/p><p>M3  - WIFO series<\\\/p><p>JO  - WIFO Working Papers<\\\/p><p>JF  - WIFO Working Papers<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>25 Years of Austria&#039;s EU Membership. 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