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  • 1
    Electronic Resource
    Electronic Resource
    From Generosity to Sustainability: The Austrian Pension System and Options for its Reform (1999)
    Springer
    Empirica 26 (1999), S. 21-38 
    Details
    ISSN: 1573-6911
    Keywords: Social security system ; pension reform ; Austria
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Austria has one of the world's highest pension expenditures relative to GDP, largely because of the generosity of its pension system. This paper examines the institutional setup of the Austrian pension system and projects its medium- and long-term development based on current policies. The projection results show a swift worsening of the finances of the pension system. With the already high level of contribution rates, pension expenditures, and budget transfers, the results underscore the need for reform. Much of the necessary reform can, however, be achieved by maintaining the structure of the system and adjusting some of its key parameters, as begun in the recent pension accord. The paper outlines options for further reform steps.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1006912227336
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    Paper (German National Licenses)
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    The Microeconomic Dimensions of the Eurozone Crisis and Why European Politics Cannot Solve Them (2015)
    American Economic Association
    Details
    Publication Date: 2015-08-01
    Description: The academic and policy debate about the crisis in Europe's single currency area is usually dominated by macroeconomic and public sector considerations. The microeconomic dimensions of the crisis and the private-sector issues typically get much less attention. However, it is the private sector hiring choices of domestic and foreign firms that will ultimately be decisive. This paper argues there are two main problems holding back private sector employment creation in the stressed eurozone countries. First, there is a persistent competitiveness problem in some of the eurozone countries due to high labor costs relative to underlying productivity. Second, widespread structural barriers make job creation in these countries far more arduous than in many other advanced economies, and even more arduous than in some key emerging economies and formerly planned economies. Structural barriers to private sector development are particularly widespread in the areas of labor market functioning, goods market functioning, and government regulation. Evidence from the World Economic Forum's Global Competitiveness Index and the World Bank's Doing Business dataset confirms the immense size and persistence of these barriers, despite improvements in some countries in recent years. The paper also presents a novel explanation for the difficulty of structural reforms in the eurozone, tracing the challenge to the current trend to “Europeanize” and “politicize” economic reform discussions in national policy fields where “Europe” is not a legitimate actor and the European political level is not effective.
    Print ISSN: 0895-3309
    Electronic ISSN: 1944-7965
    Topics: Economics
    Published by American Economic Association
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