Supported by: Anniversary Fund of the Oesterreichische Nationalbank
Study by: Austrian Institute of Economic Research
This research project aims to investigate the impact of structural changes in the labour market on the effectiveness of monetary
policy. While a large number of studies focus on the relationship between labour market rigidities and labour market outcomes,
work on the relationship between structural features of the labour market and inflation is rather scarce. From a theoretical
perspective, we will use a dynamic stochastic general equilibrium (DSGE) model. The predictions of the theoretical model are
empirically tested using an interactive vector autoregressive panel model (IPVAR), in which the role of structural labour
market conditions on the effectiveness of monetary policy on the aggregate economy is quantified. The project focuses on OECD
countries and, in particular, on euro area countries and ECB monetary policy. The results allow to assess the usefulness of
continuous monetary stimulus and are therefore of particular relevance for economic policy.
Commissioned by: ifo Institute – Leibniz Institute for Economic Research at the University of Munich
Study by: Austrian Institute of Economic Research
Die Gemeinschaftsdiagnose analysiert und prognostiziert zweimal jährlich die wirtschaftliche Lage in Deutschland und der Welt.
Sie wird von den führenden Wirtschaftsforschungsinstituten in Deutschland erstellt, liefert eine Orientierung für die Wirtschaftspolitik
der deutschen Bundesregierung und wird durch die Zusammenarbeit der beteiligten Institute und die Verwendung verschiedener
theoretischer und empirischer Ansätze methodisch bestmöglich fundiert. Die Mitarbeit an der Gemeinschaftsdiagnose erfolgt
im Rahmen einer Kooperation des WIFO mit dem ifo Institut München im Bereich der Konjunkturforschung und -prognose. Innerhalb
des Konsortiums übernimmt das WIFO die Analyse und Prognose der internationalen Konjunktur.
Study by: Austrian Institute of Economic Research – Linpico SARL
Within the framework contract, expertise shall be provided to the European Commission in the field of external assistance,
with a specific focus on the implementation of foreign aid. The fields covered include public policies, macroeconomic stability,
public finance management, domestic revenue mobilisation, and statistics and indicators. The consortium is coordinated by
Linpico Sarl and includes 11 partners from 7 EU countries.
