How Austria Got Through the Crisis and What to be Done Now

In the last two years, economic policy in Austria has been dominated by the COVID-19 crisis. Concerning its pandemic re-sponse, compared to its international peers, Austria ranks only average, both in terms of excess mortality and economic loss-es. While the pandemic situation is still acute, econom...

Ausführliche Beschreibung

Bibliographische Detailangaben
Link(s) zu Dokument(en):WIFO Publikation
Veröffentlicht in:WIFO Reports on Austria
1. Verfasser: Gabriel Felbermayr
Format: article
Sprache:Englisch
Veröffentlicht: 2022
Schlagworte:
Beschreibung
Zusammenfassung:In the last two years, economic policy in Austria has been dominated by the COVID-19 crisis. Concerning its pandemic re-sponse, compared to its international peers, Austria ranks only average, both in terms of excess mortality and economic loss-es. While the pandemic situation is still acute, economic policy must nonetheless refocus on structural issues that are decisive for long-term prosperity. This article highlights some aspects of the COVID-19 crisis and offers some thoughts on the transfor-mation of the energy system and the reform of labour market institutions. The proactive design of both policy areas will be crucial for the country's successful economic future.