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  • EU-Staaten  (78)
  • Vienna: Austrian Institute of Economic Research (WIFO)  (78)
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  • 1
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: We study differences in contributory and non-contributory welfare benefit receipt between immigrants and natives for 16 EU countries. In contrast to previous studies we analyse differences in benefit levels allowing for potentially different takeup rates between immigrants and natives and use Oaxaca-Blinder decompositions to discuss residual welfare dependence. Results point to substantial heterogeneity in welfare dependence between countries when not controlling for observed characteristics of immigrants and natives. This is primarily due to different selection into benefits between immigrants and natives and differences in their characteristics (mainly income, personal, and household characteristics). Once this is controlled for, immigrants participate at most equally often in both types of benefits as natives and usually also receive lower or comparable benefit levels.
    Keywords: ddc:330 ; EU countries ; immigration ; Oaxaca-Blinder decompositions ; welfare benefits ; Öffentliche Sozialleistungen ; Grundbedürfnisse ; Soziale Lage ; Migranten ; Dekompositionsverfahren ; EU-Staaten
    Language: English
    Type: doc-type:workingPaper
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  • 2
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The paper summarises at first the main arguments in favour and against a FTT and provides empirical evidence about the movements of the most important asset prices. It is shown that their long swings result from the accumulation of extremely short-term price runs over time. Therefore a (very) small FTT - between 0.1 and 0.01 percent - would mitigate price volatility not only over the short run but also over the long run. The subsequent section discusses the most important implementation issues if only a group of 11 EU member countries introduces this tax (without the UK). If London subsidiaries of banks established in one of the FTT countries are treated as part of their parent company, overall FTT revenues of the 11 FTT countries are estimated at € 65.8 billion, if London subsidiaries are treated as British financial institutions, tax revenues would amount to only € 28.3 billion.
    Keywords: ddc:330 ; Tobinsteuer ; Steuerreform ; Steuerwirkung ; EU-Staaten
    Language: English
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  • 3
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The struggle over the FTT has developed in three phases. In the first phase (2009 to 2011) the supporters of the tax went on the offensive, supported by the "shock effects" of the financial crisis. This phase ended with the (preliminary) "victory" in the form of the FTT proposal of the European Commission in September 2011. The second phase was shaped by the search for ways how to implement the FTT within the EU. It ended with the publication of a modified FTT proposal by the Commission in February 2013 as basis for the implementation in 11 member countries. The last phase has been marked by a strong counter-offensive of the financial lobby which succeeded in playing off FTT supporting countries against each other, in particular Germany and France. This phase ended with a defeat of the FTT supporters. Not even in a group of EU countries will a general FTT be implemented in the foreseeable future. The struggle over the FTT was mainly carried out in two "battlefields", the intellectual disputes between economists at universities, research institutes and international organisations, and the political controversies between NGOs, political parties, governments and pressure groups, in particular the finance industry.
    Keywords: ddc:330 ; Tobinsteuer ; Finanzmarktregulierung ; Politische Entscheidung ; EU-Staaten
    Language: English
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  • 4
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: Soon after the establishment of the Eurozone it became obvious that the structural differences between member countries would not abate, as expected, but rather gradually widen. Although part of the problem can be attributed to the enlargement process, it also relates to asymmetric effects of the common currency and to diverging economic policies. This paper discusses the literature which associates the economic characteristics of EMU with arguments of the optimum currency area (OCA) theory and asks for missing capstones that would meliorate EMU to eventually resemble an OCA. As potential candidates for such building blocks, some sort of fiscal union and lender of last resort may qualify, drawing on the experiences of other currency unions and federal states. The financial and debt crisis has revealed that the endogenous forces within a currency union may be too slow to absorb the shocks originating from the crisis. For a currency union to survive in such a situation it is all the more important that the OCA criteria are met and/or that complementary institutions are in place. However, as actual developments in the Eurozone reveal, the political process of approaching an OCA is piecemeal rather than comprehensive and prompt.
    Keywords: ddc:330 ; Eurozone ; Optimaler Währungsraum ; EU-Staaten
    Language: English
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  • 5
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The ongoing Euro crisis and the worse economic development in Europe than in the USA are grounded, not the least in the delayed implementation of reforms of the banking sector. Whereas the leaks in economic governance of EMU have been fixed the banking sector is still not stabilised, even five years after Lehman Brothers. From the grand solution of a "European Banking Union" (EBU) only the first pillar, the European Bank Supervision with the single supervisory mechanism (SSM) will come into effect in 2014. The other necessary steps - the single resolution mechanism (SRM) and the single deposit guarantee mechanism (SDM) - will follow later. Until the "Europeanisation" will take place the bank recovery and resolution will be managed nationally based on EU law. A first evaluation indicates that the potential benefits of solving bank problems via the resolution mechanism of a new EBU would be distributed unequally between the member countries of the EU/Euro area. Germany would be the biggest loser, Spain and the Netherlands the biggest winners. Of the non-euro countries, the UK and Sweden have the most to gain, but Poland would lose. The country-specific gains of EBU depend on the number and size of banks which are located in a country. It is, however, not yet clear whether the goal of macroeconomic stabilising of bank resolutions would be better achieved when executed via the SRM or with the ESM, both for the countries affected and for the Euro area as a whole.
    Keywords: ddc:330 ; Economic and Monetary Union ; Eurozone ; European integration ; Banking Union ; Bankgeschäft ; Bankenregulierung ; Europäische Integration ; EU-Staaten
    Language: English
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  • 6
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The EU Emission Trading Scheme (EU ETS) that covers emitters from industry and energy supply representing 40 percent of the EU's greenhouse gas emissions is the biggest implementation of a cap-and-trade scheme worldwide. In this paper, we analyse sectoral allocation caps focusing on three emission intensive sectors ("power and heat", "cement and lime", "pulp and paper"), assess the development of emissions and discuss the main drivers for emissions in these sectors since the start of the EU ETS. Our analysis of allocation patterns shows that "power and heat" is the only sector permanently facing a stringent cap. The disaggregated analysis of the development of CO2 emissions also reveals pronounced sectoral disparities, which points at differences in the availability of emission abatement options. The data for cement and lime production show changes in CO2 intensity pointing at an increased import of clinker. For paper and pulp production and for power and heat generation improvements in emission intensities and to a lesser extent energy intensities can be observed, reflecting the role of fuel shifts in short-term emission reductions.
    Keywords: ddc:330 ; EU Emission Trading Scheme ; allocation caps ; decomposition analysis ; Emissionshandel ; Allokation ; EU-Staaten
    Language: English
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  • 7
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The global financial and economic crisis in 2008-09 followed by a "Euro crisis" - not a crisis of the Euro but a sovereign debt (and/or banking) crisis in some Euro countries - forced to reforms of the asymmetric policy design of the Economic and Monetary Union (EMU). Starting with ad-hoc rescue operations for Greece, Ireland and Portugal a whole bunch of reform steps were necessary to make the Euro area "crisis-proof" for the future. Whether the measures taken are already enough to make the EMU better functioning in future crises is an open question. Nevertheless, the crisis proved to act like Schumpeter's "process of creative destruction": the old (not crisis-proof) institutional set-up has been gradually changed towards a more centralised fiscal policy at EU/Euro area level within a new EMU economic governance. Besides the improvement of the policy instruments of the "Economic Union" of EMU, also the ECB with its monetary policy entered more and more into the role of a lender of last resort of the banking sector. More far-reaching plans (that of Barroso and of Van Rompuy) are already on the table which should transform the European Union from a "Fiscal and Transfer Union" over a "Banking Union" into a genuine EMU with the final goal of a "Political Union", not to mention the "United States of Europe" (USE).
    Keywords: ddc:330 ; Economic and Monetary Union ; Eurozone ; European Integration ; EU ; Eurozone ; Reform ; Europäische Integration ; Wirtschaftliche Anpassung ; EU-Staaten
    Language: English
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  • 8
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: Right from the start of the European currency union, trade imbalances could be observed in the current accounts and trade balances of the euro countries. The business cycle upswing reaching into 2008 and the strong inflow of cheap money led to a strong economic expansion especially in the periphery of the euro area. Traditionally abundant wage increases in these countries persisted. In the more export oriented economies in the core of the euro area, however, hardly any wage increases could be observed due to the lacklustre internal demand. As a consequence, those countries gained further in competitiveness in comparison to the periphery. This led to an increase in foreign trade imbalances. With the sharp drop of economic activity in 2008 and the swift dry-up of cheap financial means this process was interrupted. Since, labour unit costs of Spain, Portugal and Greece evolved much more muted than the average of the euro area. As a result, imports of those countries stagnated while exports increased at the same time which led to a nearly balanced external trade in 2012.
    Keywords: ddc:330 ; External imbalances ; Euro area ; Current account ; Handelsbilanz ; Außenwirtschaftliches Gleichgewicht ; Vergleich ; Eurozone ; EU-Staaten
    Language: English
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  • 9
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The deepening of the debt crisis in the euro area is due to three systemic causes which national governments are not able to overcome on their own. First, being members of a monetary union euro states cannot reverse the rise in public debt (caused by the financial crisis 2008) through devaluations. At the same time, they have no access to funds from a national central bank. Second, under "finance-capitalistic" framework conditions, speculators systematically exploit and strengthen the fiscal troubles in the weakest countries by driving up CDS premiums and interest rates to unsustainable levels. This (potentially) transforms a liquidity crisis into a solvency crisis. Third, these speculative activities widen the interest rate differentials within the euro area drastically thereby endangering the economic and political cohesion of the EMU and even of the EU. A systemic solution which restores the primacy of politics over speculation needs to stabilise interest rates for all euro countries. It is proposed to transform the European Financial Stability Facility (EFSF) into the European Monetary Fund (EMF). It would provide euro governments with financial means by selling Eurobonds. These bonds are guaranteed by all euro countries to an unlimited extent. The EMF would stabilise Eurobond interest rates at a level slightly below the level of medium-term economic growth (in nominal terms). The Eurobonds are held by investors with the EMF, they are not tradable but can be liquidated at any time. The EMF helps to restore sound public finances in euro countries in close cooperation with the ECB, the European Commission and national governments. To this end, the EMF provides funds for the euro states according to clear criteria ("conditionality") which are not exclusively restrictive.
    Keywords: ddc:330 ; Internationaler Kredit ; Öffentliche Schulden ; Staatsbankrott ; Haushaltskonsolidierung ; Internationaler Kredit ; Eurozone ; EU-Staaten
    Language: English
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  • 10
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The aim of this paper is the econometric analysis of embodied and induced technological change that reduces energy input and CO2 emissions in production. For this purpose, a model of unit costs and factor demand for 35 industries in 23 EU countries has been set up, based on the World Input-Output Database (WIOD). The deterministic trend usually applied for describing the factor bias for energy is replaced by a mixed term of energy efficiency of physical production capacity and a trend in three energy intensive industries. This new variable for energy saving technological change is linked to the vintage structure of installed capital. By this link technological change becomes induced, if capital and energy are substitutes. If energy and capital are complements, this technological change can only be enforced by measures that accelerate the path of renovating the capital stock. Within the three energy intensive industries we identify one, where induced technological change is energy saving, but energy and capital are complements (pulp and paper), one where energy and capital are very weak substitutes, but technological change is energy using (non-metallic minerals) and one, where energy and capital are substitutes and technological change is energy saving (basic metals). Only in this latter case, price induced technological change can contribute significantly to fossil energy and emission reduction.
    Keywords: ddc:330 ; embodied and induced technological change ; vintage models ; emission mitigation policies ; Energiekonsum ; Umweltbelastung ; Industrieforschung ; Energieeinsparung ; EU-Staaten
    Language: English
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  • 11
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The European Union is a successful integration experiment, with an increasing number of member countries and an unexpected depth of integration. According to many indicators, it is the largest economic region in the world, leading in many "beyond GDP" indicators representing well being including non material goals. The EU has, however, lost economic dynamic in the last decades and has failed to catch up with the USA in technology and per-capita GDP. Europe has internal disequilibria, its population is ageing and it did not follow its own innovation strategy. Three questions arise in this context: 1. whether Europe should try to go back to the core (deepening integration for a smaller homogenous group), 2. whether it should go for a low road strategy of competitiveness (lowering wages and taxes, forfeiting high quality specialisation and sophisticated standards), and 3. whether it should actively try to develop its own "European Model" and offer this model to its neighbors. A European research project was tendered by the European Commission in order to analyse options for Europe in the globalised world. This 7th Framework Programme project, with the acronym "WWWforEurope", will provide evidence-based research in support of the Europe 2020 Strategy in its four-year in-depth research to be carried out by WIFO and 32 international partners. One important aspect of this strategy is a new "Systemic Industrial and Innovation Policy" (SIIP) which is pulled by the vision of a new growth path of social development and higher emphasis on sustainability. SIIP is further pushed by internal and external competition, openness as well as new technologies and capabilities. This working paper provides some first tentative answers to the three raised questions above. It furthermore sketches the broader research question, challenges and research areas to be answered in the WWWforEurope programme.
    Keywords: ddc:330 ; European socioeconomic model ; EU 2020 Strategy ; industrial policy ; innovation strategy ; Industriepolitik ; Technologiepolitik ; Wirtschaftswachstum ; EU-Staaten
    Language: English
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  • 12
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: This paper studies differences in the perception of innovation barriers between innovative and non-innovative firms for 18 EU countries. The countries are grouped by their distance to the technological frontier using Community Innovation Surveys for the years 2002-2004 and 2004-2006. The results show that non-innovators interested in innovation are much more likely to perceive barriers than non-innovators that are not interested in innovation activities. With regard to differences between country groups there is a clear indication that innovation barriers related to the availability of skilled labour, innovation partners and knowledge are more important for firms located in countries close to the frontier, while the opposite is true regarding the availability of external finance. Although the share of innovators decreases with the distance to the technological frontier, the share of barrier-related innovators increases. The results demonstrate the usefulness of the innovation barrier approach to understand the determinants of innovative activity at the firm level and to priority-setting within innovation policies.
    Keywords: ddc:330 ; Innovation barriers ; Europe ; innovation policy ; Industrieforschung ; Institutionelle Infrastruktur ; Technische Effizienz ; Technologiepolitik ; EU-Staaten
    Language: English
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  • 13
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: We offer an empirical, econometric analysis of the impact of migration on the EU 27's NUTS-2 regions in the period 2000-2007. While our results indicate that migration had no statistical impact on regional unemployment in the EU it had a significant impact on both per-capita GDP and productivity. The coefficients suggest that a 1 percent increase in immigration to immigration regions increased per-capita GDP by about 0.02 percent and productivity by about 0.03 percent. For emigration regions a 1 percent increase in the emigration rate leads to a reduction of 0.03 percent in per-capita GDP and 0.02 percent in productivity. Since immigration regions are also often regions with above-average GDP and productivity while emigration regions in Europe practically all have below-average GDP, migration seems to induce divergence rather than convergence.
    Keywords: ddc:330 ; Migration ; Convergence ; Unemployment ; Internationale Migration ; Wirkungsanalyse ; Räumliche Verteilung ; EU-Staaten
    Language: English
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  • 14
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: Cross-border commuters from EU 15 countries have lower over- but higher under-education rates than non-commuters, for cross-border commuters from the new 12 EU member countries the opposite applies. Within-country commuters have lower over- but higher under-education rates than non-commuters in both regions.
    Keywords: ddc:330 ; Job-education mismatch ; Commuting ; Arbeitskräfte ; Qualifikation ; Vergleich ; Unterbeschäftigung ; Arbeitsmigranten ; Pendelverkehr ; EU-Staaten
    Language: English
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  • 15
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: I describe the extent and structure of cross-border commuting in the EU 27 to show that this is important only in a small number of border regions with strong linguistic, historic or institutional ties. Cross-border commuters are mostly medium skilled, male manufacturing workers, who have higher over- but lower under-education rates than non-commuters, internal commuters and established migrants. These findings can mostly be attributed to cross-border commuters from the 12 new EU member countries. Cross-border commuters from the EU 15 have higher under- and lower over-education rates than non-commuters.
    Keywords: ddc:330 ; Commuting ; Selection ; Education-job Mismatch ; Arbeitskräfte ; Qualifikation ; Vergleich ; Arbeitsmigranten ; Pendelverkehr ; EU-Staaten
    Language: English
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  • 16
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: In this paper we analyse the role of ethnic networks in the location decision of migrants to the EU 15 at the regional level. Using a random parameters logit specification we find a substantially positive effect of ethnic networks on the location decision of migrants. The effect is, however, decreasing in network size. Furthermore, we find evidence of spatial spillovers in the effect of ethnic networks: ethnic networks in neighbouring regions significantly help to explain migrants' choice of target regions. The positive effects of ethnic networks thus also extend beyond regional and national borders. Analysing the trade-off between potential income and network size, we find that migrants would require a sizeable compensation for living in a region with a smaller ethnic network, especially when considering regions where only few previous migrants from the same country of origin are located.
    Keywords: ddc:330 ; network migration ; ethnic networks ; random parameters ; Kulturelle Identität ; Migranten ; Wohnstandortwahl ; Ethnische Gruppe ; EU-Staaten
    Language: English
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  • 17
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The EU Emission Trading Scheme (EU ETS) that covers emitters from industry and the energy sector representing 40 percent of the EU's total greenhouse gas emissions is the biggest implementation worldwide of a cap-and-trade scheme. The EU ETS has been the core instrument of European climate policy since its start in 2005. Based on a database comprising more than 10,000 installations in 26 EU countries, this paper provides a thorough analysis of the performance of the EU ETS in the period 2005 to 2010. In the first part, we analyse allocation patterns - i.e., the stringency of allocation caps and distribution issues - on EU country and sector level comparing the results of the EU ETS pilot phase and the first three years of the Kyoto phase. In the second part of the paper, we assess trading flows of European Allowance Units (EUAs) between EU countries comparing the results for the first and second trading period. Furthermore, we analyse the use of credits from flexible mechanisms - Certified Emission Reductions (CERs) from CDM projects and Emission Reduction Units (ERUs) from JI projects - that installations may surrender since the beginning of the second trading period on country level.
    Keywords: ddc:330 ; Emissionshandel ; EU-Staaten
    Language: English
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  • 18
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The relationship between government size and growth has received an enormous attention in the economics literature, and the recent financial crisis has forced this topic back on the agenda. A highly controversial debate in this respect is whether large governments are harmful for growth. Endogenous growth theory provides us with the view that tax structure and the composition of public expenditure may be important for growth, perhaps even more than total tax or expenditure levels. Government size and structure are, however, also reflected in the level and structure of market regulations, which may substitute or complement fiscal intervention. The study provides an overview of the growth-friendliness of fiscal and regulatory structures in a cross-section of EU 15 and EU 12 countries and highly developed OECD countries. Peripheral European (transition) countries are also included, whenever respective data are available. Our analysis is based on several measures capturing the expenditure and the tax side of the budgets, as well as regulatory policies. It is shown that the size and the structure of fiscal and regulatory regimes and, hence, the expected long-run growth impact of government activities, still differ markedly across countries.
    Keywords: ddc:330 ; Öffentlicher Sektor ; Wirtschaftswachstum ; Systemvergleich ; EU-Staaten ; OECD-Staaten
    Language: English
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  • 19
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The European Emission Trading Scheme (EU ETS) is a key instrument in European climate policy and covers emitters from the energy and manufacturing sector. The ETS pilot phase (2005-2007) was characterised by an oversupply of emission allowances mainly due to the "generous" allocation of allowances by member countries. For the second trading phase (2008-2012) the European Commission aimed at increasing the stringency of the overall emission cap and took a more active role in approving member countries' National Allocation Plans. Due to the decline in economic activity and emissions in the course of the economic crisis, the cap, however, was only stringent in 2008 whereas 2009 and 2010 both showed a long position for EU total. Differences in national and sectoral caps are found for all years. In this paper, we analyse differences in allocation patterns, i.e., in the stringency of the cap and in the spread between installations, until 2010. We focus on general sectoral allocation patterns and perform an in-depth analysis for three emission intensive sectors: "power and heat", "cement and lime" and "pulp and paper". Furthermore, we discuss the impact of the economic crisis on the emissions of these sectors in detail.
    Keywords: ddc:330 ; Emissionshandel ; Treibhausgas-Emissionen ; Umweltbelastung ; Industrieproduktion ; EU-Staaten
    Language: English
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  • 20
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: Migrants are among the groups most vulnerable to economic fluctuations. As predicted by the "welfare magnet" hypothesis, migrants can therefore be expected to - ceteris paribus - prefer countries with more generous welfare provisions to insure themselves against labour market risks. This paper analyses the role of the welfare magnet hypothesis for migrants to the EU 15 at the regional level. The empirical analysis based on a random parameters logit model shows that the regional location decisions of migrants are mostly governed by income opportunities, labour market conditions, ethnic networks and a common language. There is no strong evidence for the welfare magnet hypothesis in the EU, but the empirical model shows that the income tax system has a large and consistent effect on locational choice.
    Keywords: ddc:330 ; welfare magnet hypothesis ; migration ; random parameters logit model ; Migranten ; Soziale Sicherheit ; Internationale Migration ; Sozialstaat ; Systemvergleich ; EU-Staaten
    Language: English
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  • 21
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: I analyse the skill and age structure of commuters in 14 EU countries. Theory implies that commuters can be either more or less able than stayers, but are always less able than migrants and that they are also always older than migrants but younger than stayers. Empirically all types of commuters are younger and have higher education than non-commuters. Internal commuters are better educated and younger than cross-border commuters, education decreases while age increases with distance commuted and recent migrants are younger but also more highly educated than commuters.
    Keywords: ddc:330 ; Commuting ; Selectivity ; Migration ; Arbeitsmigranten ; Qualifikation ; Altersstruktur ; Migranten ; EU-Staaten
    Language: English
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  • 22
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: This paper analyses openness to trade, migration and foreign direct investment (FDI) using panel data. The focus is on the relationship between 15 EU countries (EU 15) as destination countries, and 71 trading partner countries which send migrants and receive FDI outflows, where only those predictions are introduced in the extended gravity model which are based on demographic trends of the partner countries and their geographical locations. The results confirm that a unified model successfully explains differences in openness to trade, migration and FDI between the EU 15 and the 12 new EU member countries, candidate countries, and developing countries.
    Keywords: ddc:330 ; International trade ; migration ; foreign direct investment ; gravity model ; Handelsliberalisierung ; Internationale Migration ; Auslandsinvestition ; Internationaler Wettbewerb ; EU-Staaten
    Language: English
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  • 23
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: After the crisis years of 2008 and 2009 EU countries followed different employment paths. Employment and wage levels, for instance, are quite unevenly distributed across Europe. Some of the EU countries expect labour shortages due to demographic change in the future. If this is the case, wages will rise when the shortages occur. From literature on migration it is well known that regions with relatively higher income levels and a lower risk of unemployment are typical destination countries for immigration. Thus, European regions might be expected to become rather mixed in cultural terms in the future. Despite the filling of the labour market and the redistribution of the resource of labour, the ultimate question raised in the discussion is whether there are additional gains or losses due to immigration. This work therefore focuses on the impact of migrants on regional GDP per capita for European regions. Does the proportion of foreigners in the labour force increase or lower regional income? Does the composition of non-natives with respect to their countries of origin matter? Both questions are addressed in this study while controlling for endogeneity. We provide evidence that immigration raises regional income and a tendency towards (roughly classified) dominant foreign-born groups reduces the costs of interaction and integration. Thus, in general immigration has a positive effect on regional performance and the costs of immigration in destination regions are balanced out. Depending on the labour market status of migrants, the regions of origin of migrants within the EU face a rise or decline in income as a result of the outflow.
    Keywords: ddc:330 ; Regional Income ; Cultural Diversity ; Effects of Immigration ; Migranten ; Kulturelle Identität ; Sozialer Wandel ; Bevölkerungsstruktur ; Nationaleinkommen ; Räumliche Verteilung ; EU-Staaten
    Language: English
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  • 24
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The environmental effectiveness of an emission trading system depends on the one hand on the stringency of the cap and on the other hand on the scheme's ability to provide stable regulatory conditions and incentives for investment in emission saving technologies. However, in case of highly volatile CO2 prices no clear investment signal is provided and hence firms' decision making and planning is rendered difficult. Analyses of price developments in the European Emission Trading Scheme (EU ETS) indicate that in Phase 1 (2005-2007) fluctuations were mainly caused by incomplete information at the beginning, adjustments after the emergence of verified emission data and regulatory mechanisms. At the beginning of Phase 2 (2008-2012) in contrast a decline in carbon prices was observed as firms sold surplus allowances resulting from lower emissions due to economic recession. For Phase 3 of the EU ETS (2013-2020) hence the introduction of price stabilisation measures has been suggested by several member countries during the discussions on the EU energy and climate package. Various instruments can be integrated in a cap-and-trade scheme in order to reduce price volatility such as provisions for banking and borrowing, the approval of offsets for compliance purposes and hybrid systems, i.e., combinations of price and quantity mechanisms. Given the long-term nature of climate policy, the related uncertainties regarding technological change and political frameworks, and given a rising speculation in carbon markets, such price stabilisation approaches should be considered for the future design of emission trading schemes.
    Keywords: ddc:330 ; Emissionshandel ; Grenzüberschreitende Umweltbelastung ; Treibhausgas-Emissionen ; Internationale Umweltpolitik ; EU-Staaten
    Language: English
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: After the climate conferences in Copenhagen and Cancun, it is likely that the EU remains more ambitious regarding greenhouse gas reduction targets than other countries. The possible problem of carbon leakage and instruments to tackle it therefore remains an important issue in the European climate policy debate. The reduction of competitive distortions and carbon leakage induced by different CO2 prices in the EU and important trading partners is one of several reasons for the EU to aim for the establishment of a trading link between the European Emission Trading Scheme (EU ETS) and other domestic or regional emissions trading systems in developed and developing countries. Main reasons for linking include higher cost efficiency to meet a given reduction target as well as improved market liquidity resulting in more robust and stable price signals.
    Keywords: ddc:330 ; Linking ; Leakage ; Carbon market ; Emissions Trading ; Emissionshandel ; Grenzüberschreitende Umweltbelastung ; Treibhausgas-Emissionen ; Internationale Umweltpolitik ; EU-Staaten
    Language: English
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  • 26
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: Socio-economic transformations associated with the shift to post-industrial societies have not only created new opportunities and prosperity, but have also given rise to the emergence of new social risks occurring at different stages of life. This paper examines the situation of children, who can arguably be considered a particularly vulnerable social group. It provides an overview of the changes generating child-related risk structures and, given this background, compares child well-being outcomes across a number of dimensions in the countries of the EU 15. The analysis reveals considerable heterogeneity both across and within welfare state regimes, suggesting overall a sort of "North-South-divide" with Nordic Europe coming out on top and Southern Europe on the bottom. In Austria, children seem to be better-protected from poverty risk than the average child in the EU 15. However, the level of material well-being is lower compared to the Nordic countries and does not translate into equally good performance in all the selected non-material domains.
    Keywords: ddc:330 ; Kinder ; Soziale Lage ; Risiko ; Sozialstaat ; Systemvergleich ; EU-Staaten
    Language: English
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  • 27
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: This paper compares the forecasting performance of three different econometric models for the Eurozone and the USA: a vector auto regression (VAR), a Bayesian vector auto regression (BVAR), and a structural vector error correction model (SVEC). The forecast evaluation is based on 19 vintages of real time data for output, inflation rates, interest rates, the exchange rate and the money stock from the fourth quarter of 2004 until the first quarter of 2010. The oil price is used as the only exogenous variable in the model. Imposing a stringent set of long-run assumptions on the econometric model results in less accurate forecasts. The difference is significant for several variables and forecast horizons. Reducing the comparison to data from the pre-financial crisis period reduces the size of forecast errors but does not change the overall picture.
    Keywords: ddc:330 ; Eurozone ; USA ; econometric models ; forecasting performance ; Wirtschaftsindikator ; Prognoseverfahren ; Vergleich ; VAR-Modell ; USA ; Eurozone ; EU-Staaten
    Language: English
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  • 28
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: This paper presents an integrated set of innovation taxonomies for firms and sectors. It discards the practice of representing industries by some average behaviour, instead characterising them by the distribution of diverse innovation modes at the firm level. The theoretical focus is on (i) Schumpeter's distinction between "creative" and "adaptive response", and (ii) differences regarding technological opportunities, appropriability conditions and the cumulativeness of knowledge. Applying statistical cluster analysis, the empirical identification is based on the micro-data of the Community Innovation Survey (CIS) for 22 European countries. The final cluster validation highlights the simultaneous diversity and contingency of firm behaviour with distinct technological regimes exhibiting systematic differences in the distribution of heterogeneous firms.
    Keywords: ddc:330 ; Technological regimes ; innovation modes ; sectoral taxonomy ; industry classification ; cluster analysis ; Innovation ; Branche ; Industriestruktur ; Clusteranalyse ; EU-Staaten
    Language: English
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  • 29
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The EU Emission Trading Scheme (EU ETS) is a key instrument in European climate policy. Evidence from the first trading period (2005-2007) and the first year of the Kyoto period 2008 dampened, however, ex-ante enthusiasm: because of substantial over-allocation of emissions allowances in the first trading period the overall emissions cap was not stringent which caused a sharp drop in carbon prices. In 2008 a more stringent cap but still high price volatility was observed. Based on experience from the first years of the EU ETS the design of the EU ETS will be changed for the post-Kyoto period (2013-2020) including an EU-wide cap and the use of auctioning as the main allocation principle. So far, no measures to control price volatility are envisaged. This issue however gains in importance in the political and economic debate as prices are an important signal for investment decisions. More or less stable price signals are essential for the environmental effectiveness of an emissions trading scheme. As evidence shows, this is not necessarily guaranteed by the market process. Based on an analysis of the first trading years the paper provides an argumentation for the implementation of price stabilisation measures in the post-Kyoto period.
    Keywords: ddc:330 ; climate policy ; emissions trading ; EU Emission Trading Scheme ; Emissionshandel ; Volatilität ; EU-Staaten
    Language: English
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  • 30
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: Based on the empirical firm growth literature and on heterogeneous (microeconomic) adjustment models, this paper empirically investigates the impact of European industry fluctuations and domestic business cycles on the growth performance of European firms. Since the implementation of the Single Market program the EU 27 member countries share a common market. Accordingly, the European industry business cycle is expected to become a more influential predictor of European firms' behaviour at the expense of domestic fluctuations. Empirically, the results of a two-part model for a sample of European manufacturing firms reject this hypothesis. Additionally, subsidiaries of multinational enterprises constitute the most stable firm cohort throughout the observed business cycle.
    Keywords: ddc:330 ; Firm growth ; industry dynamics ; domestic business cycle ; European integration ; multinational enterprises ; two-part model ; Konjunktur ; Europäische Integration ; Branchenentwicklung ; Multinationales Unternehmen ; EU-Staaten
    Language: English
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  • 31
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: Stringent fiscal rules and budgetary procedures might generate incentives for political decision-makers to cut predominantly productive public investment during periods of fiscal consolidation. While the influence of the European Stability and Growth Pact on public investment received a lot of attention in the empirical literature, only a few studies consider the impact of different budgetary decision-making rules and procedures at the national level on government investment spending. We test empirically for the effect of political factors and the institutional framework of budgeting on public investment in EU 15 over the period 1990-2005. Our results show that stringent quantitative constraints limit government investment, but a centralisation of budgeting procedures by providing more agenda setting powers to the finance minister (delegation approach) or by the use of medium-term fiscal contracts are not related to public investment spending cuts.
    Keywords: ddc:330 ; fiscal consolidation fiscal policy ; Finanzpolitik ; Regelbindung versus Diskretion ; Öffentliche Investition ; EU-Staaten
    Language: English
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  • 32
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: This paper analyses the effect of individual risk aversion and time preference on cross-border commuting and migration intentions. Both the theoretical and empirical results show that the probability of being willing to migrate decreases with risk aversion, the rate of time preference, and the maximum number of periods an individual can work abroad. The probability of being willing to commute also decreases with risk aversion, but at a smaller rate compared to the willingness to migrate, while it is (largely) unaffected by intertemporal consumption preferences. The analysis helps to shed more light on the role of time preference and risk aversion as determinants of mobility decisions, which is especially important for integrating regions where both migration and commuting are possible, as in the enlarged European Union.
    Keywords: ddc:330 ; Internationale Migration ; Motivation ; Risikoaversion ; Intertemporale Entscheidung ; Diskontierung ; EU-Staaten
    Language: English
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  • 33
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: There is evidence that a budget consolidation strategy can work with only a small and short lived negative impact on growth. However, this time consolidation is taking place in the aftermath of a deep crisis which had lead to increased levels of uncertainty. In addition the financial sector, as well as its regulation is under reconstruction. Firms and consumers are deleveraging, and many countries are trying to consolidate at the same time. We develop ten guidelines for consolidation during such a difficult economic period. We compare them to other guidelines published and, to the extent possible, cross-check whether the upcoming consolidation programs being implemented or revealed in various countries comply with our guidelines. We propose to follow a "high road" on cutting deficits, which includes an active growth enhancing component during the consolidation period. The "active component" should be financed by deeper cuts in subsidies, by eliminating obsolete government expenditure as well as by increasing the efficiency of the public sector. Taxes should not be raised permanently - a temporary contribution to consolidation will be needed, but tax structures in general should be made more growth and employment friendly.
    Keywords: ddc:330 ; budget consolidation ; financial crisis ; tax and expenditure structure ; Haushaltskonsolidierung ; Wachstumspolitik ; Nachhaltige Entwicklung ; Wirkungsanalyse ; EU-Staaten
    Language: English
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  • 34
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: We analyse determinants of duration of stay of cross-border commuters and migrants. Theory suggests that relative deprivation affects only the intended length of stay of migrants, but not of cross-border commuters. This is corroborated by econometric evidence. Also, return migrants and commuters are positively selected on education. Networks are insignificant determinants of duration of stay while distance and education are more important for commuters' duration of stay. These results are robust over different estimation methods and apply both when measuring deprivation relative to friends and family and relative to the population residing in a region.
    Keywords: ddc:330 ; Auswanderung ; Dauer ; Humankapital ; Soziale Beziehungen ; Motivation ; Rückwanderung ; EU-Staaten
    Language: English
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  • 35
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The adoption of the Euro by Slovakia from January 2009 and the current world economic crises revived a debate on the timing of the adoption of the Euro in the Czech Republic and other CEECs. The purpose of the paper is to contribute to a discussion on the process of joining the Eurozone by the Czech Republic and other candidate countries. The paper provides an analysis of some business cycle similarity and convergence measures using different indicators and detrending techniques. Measures of business cycle similarity are ordinarily used to evaluate preparedness of candidate countries to join the Eurozone. The results indicate continuing convergence of the business cycle similarity between the candidate and Eurozone member countries. The paper also sheds some light on the possible influence of selected detrending techniques on the resulting correlations. It gives a recommendation to interpret the results of business cycle correlation measuring in the close context with used methodology. A short note on a regional approach to analyse the GDP cycles is also included in the text.
    Keywords: ddc:330 ; business cycle ; convergence ; correlation ; eurozone ; optimum currency area ; Konjunkturzusammenhang ; Wirtschaftliche Konvergenz ; Eurozone ; Optimaler Währungsraum ; EU-Mitgliedschaft ; EU-Staaten
    Language: English
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  • 36
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The European Union has developed a complex strategy and policy coordination process to promote gender equality in all community policies through "gender mainstreaming". While every member country has to promote the policy objective of gender equality, the instruments implemented to that end may differ. Different institutional structures and gender roles in the society may result in different outcomes of the same policy measure. Therefore every country has to choose those instruments best fitted to achieve gender equality. This paper outlines the various positions of the individual member countries relative to gender relations, with a special emphasis on Austria. Overall, it is the state and public sector institutions which tend to take a lead in implementing affirmative action programmes, in the main positive discrimination of women (quota regulations, targets) and enforcement of antidiscrimination legislation. Affirmative action programmes in private industry are not a universal feature in all EU countries. While gender equality is pursued as a moral issue in its own right, it is also an instrument to combat the negative impact of ageing of the European populations on welfare budgets and economic growth.
    Keywords: ddc:330 ; Gender Mainstreaming ; equal opportunity ; gender gap ; models of social organisation ; outsourcing of household production ; gender segregation ; Gleichstellungspolitik ; EU-Recht ; Weibliche Arbeitskräfte ; Lohnstruktur ; Arbeitsmarktdiskriminierung ; Familie-Beruf ; Soziale Ungleichheit ; Ehe ; Österreich ; EU-Staaten
    Language: English
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  • 37
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: We characterise regional labour market problems in the EU 27 using disaggregate data on regional employment, unemployment and participation rates, by gender and 10-year age groups at the NUTS-2 level. We ask whether accession changed disparities in regional labour market conditions and to what degree the structure of employment, unemployment and participation rates in the 12 new member countries differs from the EU 15. We find that aggregate labour market disparities are comparable between the two country groups but that there are important structural differences. Performing a basic components analysis we find that five principal components (four of which are associated with the structure of employment and participations rates) explain around 90 percent of the variance in the data. Cluster analysis suggests that new member country regions are most similar in structural labour market characteristics to many German and French NUTS-2 regions. Regression analysis suggests that the correlates of aggregate regional employment and unemployment rates between the two groups do not differ dramatically but that there may be some differences with respect to employment rates of individual demographic groups.
    Keywords: ddc:330 ; Regional labour market disparities ; Regionaler Arbeitsmarkt ; Räumliche Verteilung ; EU-Staaten
    Language: English
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  • 38
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: Based on a sample of 1,084 European regions (EU 15) over the period of 1995-2004, we estimate the determinants of regional growth of GDP per capita, allowing for both spatial lag and spatial error dependence. We find that robust LM tests cannot reject the null hypothesis of no spatial dependence when country dummy variables are included in the growth equation. OLS and robust regression methods show that population density and industry share are significantly and positively related to economic growth. Regions that received EU structural funds have a significantly higher growth of GDP per capita, but the effect is only marginally significant. Blinder-Oaxaca decompositions reveal that the growth differential between Objective 1 regions and the remaining regions is solely due to the difference in the characteristics and not to differences in the coefficients. Finally, we find that the added value gained in Objective 1 regions is much lower than the resources that have been allocated to them.
    Keywords: ddc:330 ; regional growth ; EU structural funds ; Objective 1 funding ; spatial dependence ; urbanisation ; EU-Strukturfonds ; Regionalentwicklung ; Räumliche Verteilung ; Schätzung ; EU-Staaten
    Language: English
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  • 39
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: Direct payments are the most important expenditure of the Common Agricultural Policy. They are mostly in the form of decoupled direct payments which are intended to be allocatively neutral. Increasing volumes of such transfers imply that distributive aspects of CAP expenditures become more important. This paper looks at this issue by calculating various measures of concentration based on statistics on recipients of direct payments covering the period of 2000 to 2006. The findings are evaluated in the context of the objectives of the CAP and the review of the financial framework, due to be discussed in late 2008.
    Keywords: ddc:330 ; common agricultural policy ; distribution of transfers ; single farm payments ; direct payments ; EU-Agrarpolitik ; Agrarsubvention ; Verteilungswirkung ; EU-Staaten
    Language: English
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  • 40
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: This working paper examines whether the EU countries are in a race-to-the-bottom competition with regard to their corporate taxes. An empirical model is used to determine whether such a race is actually on, i.e., whether states reduce their taxation of capital income in response to increasing capital mobility. The model includes not just capital mobility but also other factors that are assumed to impact on the intensity of tax competition, such as the size of a country and its economic importance compared to its competitors. Although the results did not correspond to the theoretical model, it is still not possible to reject the race-to-the-bottom hypothesis so that the existence of competition cannot be excluded when it comes to corporate taxes.
    Keywords: ddc:330 ; Steuerwettbewerb ; optimale Besteuerung ; effektive Unternehmenssteuerbelastung ; Unternehmensbesteuerung ; Steuerwettbewerb ; Optimale Besteuerung ; Steuerbelastung ; EU-Staaten
    Language: English
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  • 41
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: This paper analyses the effects of previous enlargements of the European Union on the regional structure of production. Focusing on regional development five years before and seven years after integration, we find relatively small and heterogeneous effects. For the addition of Greece a robust tendency of decentralisation is found. For Southern enlargement effects on border regions are significant for wages and employment and for Northern enlargement no significant effects are found. Finally, for nearby old member states results are contradictory and are not robust to correcting for potential bias arising from serial autocorrelation of the error term.
    Keywords: ddc:330 ; EU-Accession ; Regional Effects of Integration ; EU-Mitgliedschaft ; Wirtschaftliche Anpassung ; Wirtschaftswachstum ; Räumliche Arbeitsteilung ; Griechenland ; Spanien ; Portugal ; Österreich ; Schweden ; Finnland ; EU-Staaten
    Language: English
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  • 42
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: EU enlargement has increased the diversity of the European Union in a substantial way, in particular with respect to its capacities in the fields of science, technology and innovation (STI). The shares of both gross and business sector expenditures on R&D in GDP are increasingly diverging following EU enlargement, pointing at quite different levels of technological opportunities and absorptive capacity. Against this background, this paper tries to disentangle the rationales for STI policies at an EU level. Starting from the different policy rationales we assign different STI policy fields to levels of governance. Our discussion suggests that the European Union plays two quite distinct roles in EU STI policy. The first role is closely related to the assignment of policy competences and establishes the fields where the EU should act as policy maker and programme owner. But this alone is likely to be insufficient when it comes to managing and coordination of complex horizontal policy fields such as STI policy. Here the second role of the European Commission comes into its own. This second role is not related to policy making but to the "right" to fuel discussions to find coordinated solutions. This role is essentially political and relates to the job to stimulate activities in areas where the Commission has no mandate (due to missing clear rationales) to act alone.
    Keywords: ddc:330 ; EU enlargement ; science ; technology and innovation (STI) ; policy rationales ; subsidiarity ; policy competences ; coordination ; horizontal policy fields ; Technologiepolitik ; Technologiepolitik ; Politische Entscheidung ; Governance-Ansatz ; EU-Staaten
    Language: English
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  • 43
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The increasing employment of women in Europe is not only a result of economic restructuring, but also a consequence of changing family structures, changing expectations, changing wage determination mechanisms and increasing urbanisation. Many of the services which have been outsourced from the household sector to the market sector tend to remain almost exclusively a female employment domain. Thus, the areas of production that constitute the domain of female work in traditional societies remain the same in the developed industrial societies; only the degree of marketisation differs. The extent to which domestic work is outsourced depends upon the welfare model. Thus, it is a different set of taxes, transfer payments and public services in the various models which impacts on the relative efficiency and direct and indirect costs of goods and services which can be produced in the household or the market sector. Different institutional settings impact on the opportunity cost of domestic work and/or the shadow price of the domestic good or service, resulting in a divergence of the employment rate of women between the various models in the EU.
    Keywords: ddc:330 ; Employment rates ; models of social organisation ; marketisation of household production ; time use surveys ; gender segregation ; Weibliche Arbeitskräfte ; Arbeitsmarktsegmentation ; Hausarbeit ; Zeitverwendung ; Sozialstaat ; EU-Staaten
    Language: English
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  • 44
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: Low growth and persistently high unemployment in Europe raised the question whether it was the specific features of the European Social Model, which lead to these disappointing results. This paper defines the characteristics of the model, and the differences between submodels applied in different European countries. Then it carves out the specific characteristics of the Nordic European Model, and its changes in economic policy and strategy which made these countries successful over the past ten to fifteen years - after the same countries had experienced recurrent crises in the decades before. Specifically, we look at the role of institutions and their changing priorities for making the Scandinavian countries better able to cope with change as compared to Germany, Italy and France.
    Keywords: ddc:330 ; Welfare models ; corporatism ; economic performance ; models of capitalism ; Korporatismus ; Kapitalismus ; Institutionelle Infrastruktur ; Sozialstaat ; EU-Staaten
    Language: English
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  • 45
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The European Employment Strategy (EES) has been put in place in order to ensure the survival of the European Social Model in view of institutional change resulting from the introduction of the European Monetary System. It has become the platform of a method of open coordination of social and employment policy. It represents a new method of governance through soft law, as the traditional governance scheme of binding directives failed to find acceptance among member countries in core areas of national policy development and implementation.
    Keywords: ddc:330 ; European Social Model ; Open Method of Coordination ; Soft Law ; National Reform Programme ; Supply side management ; EU-Wirtschaftspolitik ; Sozialstaat ; Internationale Wirtschaftspolitik ; Governance-Ansatz ; EU-Staaten
    Language: English
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  • 46
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: Organic farming practices have environmental benefits compared to conventional ones. Their adoption is the result of a complex interaction of intrinsic attitudes of farmers, their profit expectations and farm policy incentives. We use an agricultural sector model and develop an extended version of the Positive Mathematical Programming (PMP) method to differentiate organic farming from other management practices. Austria is chosen for the case study because 8 percent of its farmland are managed organically, and detailed data on alternative management practices are available. The results suggest that the agricultural policy reforms have made organic farming more attractive to farmers.
    Keywords: ddc:330 ; Organic farming ; Common Agricultural Policy ; Program for Rural Development ; Agricultural Sector Modelling ; Ökologischer Landbau ; EU-Agrarpolitik ; Ländliche Entwicklung ; Wirkungsanalyse ; EU-Staaten
    Language: English
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  • 47
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: Advanced industrial countries have been exhibiting a steady decline of the labour income shares in the last two decades. The study explains this phenomenon by resorting to the old Stolper-Samuelson theorem. The conclusions concerning the impact of free trade on the income distribution are unambiguous in a Heckscher-Ohlin world with two countries, two goods and two factors of production (capital and labour). In contrast, the consequences of FDI from the capital abundant country (EU) to the labour abundant CEECs are ambiguous. Both scenarios are investigated theoretically and then simulated with a hypothetical two-country CGE model, including the EU and the CEECs. A panel regression for both regions separately helps to decide empirically which influences on the development of the labour income shares are at work. Globalisation, measured by revealed comparative advantage (increase in global net trade) has contributed to a decline in the labour income shares in the EU. Additionally, those countries which are engaged more in trade with the CEECs can expect a sharper decline in the wage share. Global net FDI outflow also exerts a negative influence on the labour income share in the EU. In the CEECs the increase in global net trade had a positive influence on the labour income share, trade with the EU, however, dampened the labour income share. FDI inflow increased the labour income share in the CEECs.
    Keywords: ddc:330 ; Globalisation ; EU Enlargement ; Income distribution ; Globalisierung ; EU-Mitgliedschaft ; Einkommensverteilung ; Komparativer Vorteil ; Faktorpreisausgleich ; Faktorproportionentheorem ; Allgemeines Gleichgewicht ; Panel ; Schätzung ; EU-Staaten ; Osteuropa
    Language: English
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  • 48
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: The stagnation of the economy in the Euro area since 2000 is closely connected to the dominance of purely long-run supply-side oriented policies in the Euro area. While exports and profits soared, domestic demand has been weak. The neglect of cyclical and demand factors appears to be the major deficiency of the EU policy guidelines, the Lisbon strategy and the Brussels/Paris (European Commission–OECD) consensus on growth policy. Monetary policy in the Euro area is only slightly expansionary, fiscal policy is at the best on a neutral stance and social reforms are deterring consumers. Cyclical and demand considerations are not only denied in the short term, but also in the medium term. In fact, growth differentials in the period 1995 and 2005 can largely be explained by rising house prices as well as by the adoption of anti-cyclical policies in Anglo-Saxon and Scandinavian countries rather than by "structural reforms". In the long run, there prevails an interaction between supply and demand factors as well. Higher expenditure on R&D and education (input factors) are important to improve potential economic growth, this will however only materialise if effective demand is sufficiently high.
    Keywords: ddc:330 ; Demand Business Cycle ; Euro Area ; Economic Policy ; European Union ; Eurozone ; EU-Politik ; Wirtschaftspolitik ; Angebotsorientierte Wirtschaftspolitik ; Finanzpolitik ; Strukturpolitik ; Geldpolitik ; EU-Staaten
    Language: English
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  • 49
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-03-05
    Description: This study uses time-series techniques and econometric approaches in order to quantify the effects that organising an EU presidency has on the tourism exports of a country. The approach to explain tourism revenues by a time-series intervention model filters out special effects (data discontinuations, exchange rates, events, media reports, etc.) by outlier detection methods, maps influences from trends, the business cycle and seasonal effects in an ARIMA model and depicts the effect of an EU presidency by way of an intervention variable. Using econometric indicator approaches, a country's tourism exports are controlled for seasonal and special influences, habitual effects and demand trends by way of suitable indicators, and a dummy variable is used to test whether the EU presidency made a statistically significant contribution to the revenues from tourism.
    Keywords: ddc:330 ; EU presidency ; econometric indicator approach ; intervention models ; outlier detection ; EU-Politik ; Wirkungsanalyse ; Tourismuswirtschaft ; Schätzung ; EU-Staaten
    Language: English
    Type: doc-type:workingPaper
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  • 50
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-07-06
    Description: The obvious difference in the economic performance of countries has led to the question why some countries are so much wealthier than others, and whether the size, the structure, and the organisation of the public sector contribute to cross-country income and growth gaps. Public sector activities may have an effect on overall productivity and growth via two channels: directly by the level and changes of productivity within the public sector, and indirectly by triggering off productivity changes in private production. This paper is concerned with the former aspect. It provides an overview of the size and the structure of the public sector in Europe and compares it with the US and Japan. This is related to the more recent empirical literature on public sector performance. After reviewing some of the measurement issues related to public services, the evidence on the size of government and its performance is analysed. The results on industrial countries are not fully conclusive, but seem to attribute more efficiency to smaller rather than to larger governments. Public sector reforms to consolidate the size of government are therefore likely to enhance the sector's own productivity and thereby positively contribute to overall economic performance.
    Keywords: ddc:330 ; Öffentlicher Sektor ; Öffentliche Ausgaben ; Produktivität ; Vergleich ; EU-Staaten ; USA ; Japan
    Language: English
    Type: doc-type:workingPaper
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  • 51
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-07-06
    Description: This paper analyses the main characteristics of the European Socio-Economic Model. We discuss how the model varies across countries within Europe, examine how the model has changed over time and compare the European model with the corresponding US model. While the differences with regard of growth dynamics are very small in the long run (1960 to 1990), growth rates diverge in the past 15 years. Performance differences as well as the reforms which have taken place, allow us to delineate elements of a "Reformed European Model", which on the one hand upholds important characteristics of the European Society, but on the other hand can still be competitive in the globalised economy.
    Keywords: ddc:330 ; Wirtschaftswachstum ; Wirtschaftspolitik ; Vergleich ; EU-Staaten ; USA
    Language: English
    Type: doc-type:workingPaper
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  • 52
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-07-06
    Description: This paper uses a data set covering 9 EU15 member states and 7 candidate countries and new member states to compare inter-regional migration patterns in the 1990s. We find that migration is lower in candidate countries and new member states than in EU15 member states. Also in contrast to the EU15 member states migration has fallen in candidate countries and new member states. This casts doubt on the viability of migration as an adjustment mechanism. Estimating place to place models of migration we find that migration is less reactive to regional disparities in candidate countries and new member states than in EU15 member states. If reaction to labor market disparities were similar to EU15 states net migration should increase by a factor of 2 to over 10.
    Keywords: P25 ; J61 ; ddc:330 ; Regional Labor Market Adjustment ; Transition ; EU Accession ; Internationale Migration ; Vergleich ; EU-Mitgliedschaft ; EU-Staaten ; Mobilität ; Migrationsforschung
    Language: English
    Type: doc-type:workingPaper
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  • 53
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-07-06
    Description: This paper investigates the impact of international outsourcing on total employment using two-digit manufacturing data for seven EU countries for the period of 1995-2000. As is common in other empirical work, international outsourcing is measured as imports in intermediate imports. Estimates using OLS first differences show that imported materials from the same industry originating from low-wage countries have a significant and negative impact on total employment. The estimates suggest that rising intermediate imports from low-wage countries may account for an approximate reduction of 0.25 percentage points in employment per year. Sample split regressions show that the impact of imported materials from low-wage countries is statistically significant in industries with low skill intensity but not in skill intensive industries such as machinery, electrical, optical and transport equipment.
    Keywords: F10 ; J31 ; ddc:330 ; Trade in intermediate imports ; labour demand ; cross-country analysis ; Outsourcing ; Niedriglohn ; Beschäftigungseffekt ; Schätzung ; EU-Staaten
    Language: English
    Type: doc-type:workingPaper
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  • 54
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-07-06
    Description: There is no simple answer to the question of the potential impact of migration on EU society. EU migration policy is expected to meet the requirements of economic and social policy, in particular of the Lisbon Agenda, as well as national cultural, political, strategic and security imperatives. The problem is complicated by different national traditions in social organisation, which are deeply rooted in history and which resulted in different migration models within the EU. As with employment, educational and social policy issues, the need to reach a common understanding about possible routes to eventual convergence, will call for coordination of the migration policies of the Member States (MS). Moreover, an issue in its own right is immigration as a tool to counter the negative impact of population ageing on economic growth and the pressure on public funds. While we know that immigration alone cannot solve the problem of population ageing, it can be an important policy instrument, complementary to other measures to raise the activity rate of older persons, and of prime age women. Its impact will depend on the level, composition and duration of inflows as well as the necessary measures which are to form an integral part of migration policy. Another aspect of migration concerns the internationalisation of production and its contribution to the diversification of the productive structure of the EU and its member states. Thus migrants impact on the supply side - the production potential of the economy - as well as on the demand side - the level and composition of consumption. Further, migration may also contribute to the growth of the informal economy, an aspect of concern in MS with high shares of the informal sector in GDP ...
    Keywords: ddc:330 ; Einwanderung ; Migrationspolitik ; EU-Mitgliedschaft ; EU-Staaten
    Language: English
    Type: doc-type:workingPaper
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  • 55
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-07-06
    Description: Since its inception in 1995, more than 312 disputes have been raised under the WTO Dispute Settlement System. Despite the obvious success of this system, several shortcomings call for a revision under the auspices of the Doha Development Round. With a computable general equilibrium model we analyze the four most prominent trade disputes between the EU and the USA, which we call "mini trade wars": the Hormones, the Bananas, the Foreign Sales Corporations and the Steel cases. The economic analysis revealed several flaws and peculiarities: As a rule, retaliatory tariffs are detrimental to welfare of the retaliating country and amount to "shooting oneself in the foot". Trade wars can only be won by large countries. The WTO arbitrator's estimation of the trade loss in case of non-compliance never translates into equivalent damage to economic welfare. A mechanism to control the collection of retaliatory tariff revenues is missing as is a system to compensate the firms suffering the damage. The major conclusion therefore is that tariffs are very bad instruments for countermeasures. The sanctions mechanism of the Dispute Settlement System should be improved, maybe based on a mechanism of direct transfers.
    Keywords: F13 ; D58 ; ddc:330 ; WTO Dispute Settlement ; Trade Policy ; CGE Model Simulation ; WTO-Recht ; Internationale Schiedsgerichtsbarkeit ; Handelskonflikt ; Wirkungsanalyse ; Allgemeines Gleichgewicht ; Wohlfahrtsanalyse ; Theorie ; USA ; EU-Staaten
    Language: English
    Type: doc-type:workingPaper
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  • 56
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-07-06
    Keywords: P25 ; J61 ; ddc:330 ; Regional Labour Market Adjustment ; Transition ; EU - Accession ; Vergleich ; Arbeitslosigkeit ; EU-Staaten ; Mobilität ; Migrationsforschung
    Language: English
    Type: doc-type:workingPaper
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  • 57
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-07-06
    Description: This paper sets up a model of private consumption for selected EU countries with special emphasis on the consumption categories heating and transport. Sustainable consumption patterns require a "decoupling" of energy or materials use from satisfaction of consumers' needs and demands. Starting point for the analysis is the observation that the ultimate goal of consumption is utility maximization and that utility is determined by the consumption of goods as well as the level of "services", produced with inputs of other consumption goods. These other goods are energy flows and capital services. Exogenous key variables that can be modified in order to calculate different scenarios are: (i) prices of energy and non-energy goods (ii) the exogenous capital stock (infrastructure) or user costs of capital.
    Keywords: D11 ; D13 ; Q53 ; ddc:330 ; Privater Konsum ; Energiekonsum ; Kapitalkosten ; Haushaltsproduktion ; Schätzung ; EU-Staaten
    Language: English
    Type: doc-type:workingPaper
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  • 58
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-07-06
    Description: We estimate a linear approximation of the market potential function derived in geography and trade models. Using a spatial econometric estimation approach, border effects can be identified by a differential impact of neighboring regions' purchasing power, depending on whether two regions are located in (i) the same country (ii) within the EU15 or (iii) outside the EU15. Our results suggest that there are substantial market potential effects on nominal wage rates. We also find significant border effects between EU15 and non-EU15 countries. Our estimation results suggests that the enlargement of the EU on May 2004 may lead to pronounced wage effects in the new member states, but to relatively small ones for the existing members.
    Keywords: F10 ; R12 ; F12 ; C21 ; ddc:330 ; Market Potential ; Border Effects ; Spatial Econometrics ; Grenze ; Kaufkraft ; Raumstruktur ; Schätzung ; EU-Staaten ; Marktgröße
    Language: English
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  • 59
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-07-06
    Description: Subsidies linked to production have been classified to be environmentally harmful by OECD. A core element of the EU 2003 Common Agricultural Policy (CAP) reform is to decouple income support from production. This paper estimates the environmental consequences of this policy reform. An agricultural sector model using a modified version of the positive mathematical programming method depicts the complex natural, structural, and political relationships of Austrian farming. Changes in management measures can be analyzed with respect to their environmental effects by using appropriate indicators. Simulation results show that the 2003 CAP reform will not only reduce average cost of production, but may also improve environmental conditions regarding soil, water, and greenhouse gases. Thus, this reform is likely to bring about outcomes which the previous CAP-reform (Agenda 2000) promised, but did not deliver.
    Keywords: Q12 ; Q18 ; Q24 ; Q28 ; ddc:330 ; Common Agricultural Policy reform ; Environmental indicators ; Agricultural sector model ; De-coupled subsidies ; EU-Agrarpolitik ; Agrarsubvention ; Reform ; Umweltpolitik ; Wirkungsanalyse ; EU-Staaten
    Language: English
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  • 60
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-07-06
    Description: The economic performance of European countries was in general disappointing in the nineties. However, country difference increased, as it was that in some European countries economic growth and productivity accelerated or could match US rates. This paper uses a broad set of performance indicators - plus some deliberate choices - to carve out a group of successful countries and to compare their economic strategy to that of the low performing large European economies. The analysis shows that these successful countries used a policy mixture of cost cutting, improving institutions, and investing in future growth. We consider the first two strategy elements as preconditions, the investment in growth drivers as the sufficient condition for longrun growth. The difference between top and low performers is the largest for investments into determinants of future growth such as research, education and the diffusion of new technologies. The top countries surpassed the large European countries in research outlays in 1988 and are steadily increasing their lead since that time. The top performers are welfare states with a comprehensive social net, which they maintained in principle, while improving the incentive structure and the inner workings of their institutions. The results are not in line with the usual twin hypotheses that high welfare costs and insufficient labour market flexibility are responsible for European underperformance.
    Keywords: E60 ; O11 ; O40 ; ddc:330 ; Wirtschaftswachstum ; Wirtschaftspolitik ; Internationaler Wettbewerb ; EU-Staaten
    Language: English
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  • 61
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    Vienna: Austrian Institute of Economic Research (WIFO)
    Publication Date: 2016-07-06
    Description: As the EU economies and societies become increasingly integrated, and as labour market behaviour patterns converge across borders, the EU strives to develop a substantially common social identity. To this end, it seeks to promote the development of a sustainable institutional framework which facilitates flexibility and structural change in the economy and the labour market, while at the same time providing a meaningful social safety net ("flexicurity"). However, it would be unrealistic to try to establish a common EU social protection model under the prevailing great differences in social organisation of the various EU countries. The more immediate object for the EU should be to identify the mechanism by which social protection is ensured, what developments jeopardise the continued universal coverage of all members of society, what factors are responsible for the socio-economic exclusion of groups of people, why these differ by model of social organisation, and last but not least, what the gaps are in the statistical data which prevent a proper evaluation of economic wellbeing under the different welfare models. The thrust of this paper is that the wellbeing of every society depends upon the interaction of the market, the household/family and the state. The exclusion of the household sector from the regular statistical framework - and orthodox economic theory - ignores the fact that the various models of social organisation give different relative weights to - and impose different roles on - the three pillars of social organisation. A different set of taxes, transfer payments and public services in the various welfare models in the EU results in a divergence of incentives to the private sector and/or the household to provide social services, in particular care work. This results in a different degree of integration of the working age population into the labour force, the quality of work and the price and quality of social protection. Models which allow targeting for individual needs are best able to cope with the current trends of increasing fragmentation and diversity of social functions.
    Keywords: ddc:330 ; Soziale Sicherheit ; Länderbericht