We use an updated version of the Austrian Long-run Macroeconomic Model (A-LMM) for a long-term projection of the Austrian
economy until 2075. Our baseline scenario is the input for microsimulation models of the Austrian pension insurance system.
A-LMM 2.0 is a neoclassical growth model using demographic indicators to determine TFP-growth, the savings and the inflation
rate. The model allows for labour saving technological progress and replicates stylised facts about growing market economies
with an ageing population. The current model update incorporates the recent population forecast, information from labour market
and national accounts data. Compared to the previous report we expect higher labour market participation rates, lower output
growth, and a temporary upswing in inflation.
Forschungsbereich:Makroökonomie und europäische Wirtschaftspolitik