April 2015 - NOeG-l - Wirtschaftsuniversität Wien

OeNB - Einladung zum VOSTA-Freitagsseminar - 8. Mai 2015, 11:00 Uhr
by Event-Management 27 Apr '15

27 Apr '15

Sehr geehrte Damen und Herren, anbei übermitteln wir Ihnen die Einladung zu einem VOSTA-Freitagsseminar von Tom Fischer, Universität Würzburg, mit dem Titel "Valuation in the structural model of financial networks". Termin Freitag, 8. Mai 2015, 11:00 Uhr Ort Geldzentrum der OeNB (OeNB II) Veranstaltungssaal, 3. Stock Garnisongasse 15, 1090 Wien Abstract This presentation summarizes some previously published and several to date unpublished results for an asset and derivatives pricing model which accounts for systemic counterparty risk in a structural manner. The model allows for the cross-ownership of equities and liabilities within a network of financial entities. Assets and liabilities within the system, as well as the corresponding ownership structures, are allowed to depend on the prices of system-exogenous assets. Liabilities, which can also be derivatives of system-exogenous or system-endogenous assets, belong to one of potentially many seniority classes, whose order of priority is properly incorporated. The presented work generalizes some of the results by Eisenberg and Noe, Suzuki, Elsinger, and Gouriéroux et al., and can be understood as a far-reaching extension of the Merton model. Of particular concern are the existence and the uniqueness of price solutions, as well as the existence of greatest (i.e. globally Pareto-dominant) solutions when multiple equilibria exist. In the latter case, unambiguous risk-neutral pricing of all liabilities might still be possible. In line with previous results by Elsinger, the value of a system outsider's holdings is always uniquely determined, and - for the group of all system outsiders and bankruptcy costs absent - it never pays to bail out defaulting entities. Um Ihre Rückmeldung ersuchen wir bis spätestens Mittwoch, 6. Mai 2015. Wir freuen uns auf Ihre Teilnahme und stehen für Fragen gerne zur Verfügung. Mit freundlichen Grüßen, Julia Palatin ---------------------------------------------- Oesterreichische Nationalbank Abteilung für Öffentlichkeitsarbeit und Finanzbildung Communications and Financial Literacy Division Phone: +43-1-404 20-6620 Fax: +43-1-404 20-6697 E-Mail: event-management(a)oenb.at<mailto:event-management@oenb.at> P Before printing, think about the environment

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2015 Vienna PPRI Conference on Pharmaceutical Policies: Registration and Call for Abstracts now open
by Sabine Vogler 24 Apr '15

24 Apr '15

3rd International PPRI Conference 12-13 October 2015, Vienna, Austria Pharmaceutical Pricing and Reimbursement Policies: Challenges beyond the Financial Crisis ________________________________ Dear Sir or Madam, We would like to extent a very warm invitation to the 2015 Vienna PPRI Conference on October 12-13, entitled 'Pharmaceutical Pricing and Reimbursement Policies: Challenges Beyond the Financial Crisis'. For the third time the PPRI Conference in Vienna brings together around 300 high-level academics, stakeholders and policy-makers to discuss current challenges and opportunities in the area of pharmaceutical policies. Recent developments, such as newly developed high-cost medicines as in the Hepatitis C case, are associated with issues of affordability and access and raise important questions for pricing and reimbursement strategies. The conference aims to bring together thought leaders from around the globe to discuss 'burning' issues in pricing and reimbursement policies of pharmaceuticals - both from a global as well as European perspective. Current challenges and opportunities will be discussed, in particular also policy coordination and interface management. Further, the impacts and lessons learned from policies implemented in response to the financial crisis will be debated. The WHO Collaborating Centre for Pharmaceutical Pricing and Reimbursement Policies in Vienna invites you to take part in the discussions with renowned experts and high-level representatives in the pharmaceutical field. Registrations for the Conference are now open, and can be found under: http://whocc.goeg.at/Conference2015/Registration Special Early Bird conditions apply to all registrations done prior to June 1st, 2015. Specific sessions of the conference are dedicated to allow researchers and policy-makers to present and discuss recent activities related to pharmaceutical policies. You are warmly invited to submit your abstracts by 15 May 2015. Details on the call for abstracts can be found here: http://whocc.goeg.at/Conference2015/CallForAbstracts A young researcher award will be given to the best abstract submission by a researcher below the age of 35. For further information on the Conference please visit our Website http://whocc.goeg.at/Conference2015 and do not hesitate to contact our team. Please feel free to share with your networks. Kind regards, The PPRI Conference Organizing Team

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Invitation: Vienna Joint Economics Seminar (April 30): Erik Eyster and Etienne Wasmer
by Economics Department 23 Apr '15

23 Apr '15

[cid:image002.png@01CEBF6B.D0B28790] VIENNA JOINT ECONOMICS SEMINAR INVITATION The University of Vienna and the Department of Economics and Finance at the Institute for Advanced Studies cordially invite you to the following Vienna Joint Economics Seminar <http://www.ihs.ac.at/vienna/resources/Economics/Papers/20130226_Paper_Zimme…> Thursday, April 30, 2015 University of Vienna, Oskar-Morgenstern-Platz 1, 1090 Vienna, HS 9, 1st floor 4:00 pm Erik Eyster<http://www.lse.ac.uk/economics/people/facultyPages/ErikEyster.aspx> and Etienne Wasmer<http://econ.sciences-po.fr/etienne-wasmer> LSE Sciences Po, Paris tba (Erik Eyster) Spatial search strategies of job seekers and the role of unemployment insurance (Etienne Wasmer) Job search is an activity involving costs and returns. But, because individuals and jobs are scattered across space, it is also a spatially oriented activity. In particular, job acceptance depends on commute distance. Searching within a range of acceptable commute distances is costly: search costs combine effort and money, the latter part depending on the size of the prospection area. Under liquidity constraints of the job seekers, job search efficiency may be itself constrained. We first provide a simple theoretical setup to discuss those questions: job search is represented by draws in a bivariate distribution of wages and commute distances; individuals choose their range of search and the intensity of search within the range. We then exploit an administrative social security dataset covering all newly unemployed workers in Austria. It contains information on the current residence, the previous workplace and the subsequent workplace for those re-hired. We observe fairly high dispersion in the change of commuting distance and wage and evidence of a reservation frontier. We also see that newly unemployed workers seem to initially target their job search from the same workplace as they used to be employed. As the unemployment spell gets longer, they tend to accept lower wages and progressively enlarge their radius of search, ending up with a job farther away from their previous workplace (but not necessarily farther away from their residence). We finally extend the model to two types of unemployed workers and to partially directed job search to replicate these facts. We calibrate it and explore the effect of unemployment insurance on job search strategies. paper jointly with Elisa Guglielminetti, Rafael Lalive and Philippe Ruh We are looking forward to seeing you! Institute for Advanced Studies Department of Economics and Finance Stumpergasse 56, 1060 Vienna, Austria Tel.: +43 1 599 91 145 e-Mail: economics(a)ihs.ac.at<mailto:economics@ihs.ac.at> http://economics.ihs.ac.at LINKS<https://nyuad.nyu.edu/en/academics/faculty/herv-crs.html> DIRECTIONS TO UNIVERSITY OF VIENNA on Google maps<https://maps.google.at/maps?q=Oskar-Morgenstern-Platz+1,+1090+Wien+%28SR+14…> VIENNA JOINT ECONOMICS SEMINAR<https://www.google.com/calendar/embed?src=pjgnue7cg8r0m0up9v27riruic%40grou…> on Google calendar<https://www.google.com/calendar/embed?src=pjgnue7cg8r0m0up9v27riruic%40grou…> ECONOMICS SEMINARS <https://www.google.com/calendar/embed?src=o7e40khrmr1vn2lo20mhbe539g%40grou…> IN VIENNA<https://www.google.com/calendar/embed?src=o7e40khrmr1vn2lo20mhbe539g%40grou…> on Google calendar<https://www.google.com/calendar/embed?src=o7e40khrmr1vn2lo20mhbe539g%40grou…> [cid:image003.jpg@01CEBF6B.D0B28790]<http://economics.ihs.ac.at/> [cid:image004.jpg@01CEBF6B.D0B28790]<http://econ.univie.ac.at/home/> [http://www.ihs.ac.at/vienna/resources/Economics/Others/FB-f-Logo__blue_512.…] [http://www.ihs.ac.at/vienna/resources/Economics/Others/twitter-bird-white-o…] [http://www.ihs.ac.at/vienna/resources/Economics/Others/feed-icon-28x28.png] <http://econ.univie.ac.at/home/> Diese Zusendung erfolgt entsprechend den Bestimmungen des TKG 247107 Abs. 4. Sollten Sie keine weiteren Zusendungen wünschen, senden Sie uns bitte eine kurze Mitteilung an: economics(a)ihs.ac.at<mailto:economics@ihs.ac.at>. If you do not want to receive our mailings please send an e-mail to: economics(a)ihs.ac.at<mailto:economics@ihs.ac.at>. Also sent to noeg-l(a)wu.ac.at<mailto:noeg-l@wu.ac.at> (https://mailman.wu.ac.at/mailman/listinfo/noeg-l)

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IHS Stellenausschreibungen im Bereich "Arbeitsmarkt" und "Gesundheit und Pflege"
by Applied Ecofin 23 Apr '15

23 Apr '15

Sehr geehrte Damen und Herren! Wir ersuchen um Versendung unserer IHS Stellenausschreibungen im Bereich "Arbeitsmarkt" und "Gesundheit und Pflege" über den NÖG-Verteiler, siehe Attachments. Vielen Dank im Voraus! Mit freundlichen Grüßen Isabella Andrej Mag. Isabella Andrej EcoFin Applied Research [cid:image003.jpg@01D076C1.AA20DAF0] Institut für Höhere Studien - Institute for Advanced Studies Stumpergasse 56, 1060 Vienna, Austria Tel: +43 1 59991 - 157 Fax: +43 1 59991 - 320 E-mail: applied_ecofin(a)ihs.ac.at<mailto:applied_ecofin@ihs.ac.at> Web: http://www.ihs.ac.at<http://www.ihs.ac.at/>

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Wirtschaftspolitische Gespräche am 11. Mai 2015 in der WKÖ
by wp＠wko.at 23 Apr '15

23 Apr '15

[http://news.wko.at/Media/_Templates/5100ae72-47d3-42eb-9e95-f0845f0c6331/sp…] Falls dieses E-Mail nicht korrekt dargestellt wird, verwenden Sie bitte diesen Link<http://news.wko.at/sys/w.aspx?sub=7qOoB_XBDgy&mid=347f8726> WP-Gespräche [WP-Gespräche] [http://news.wko.at/Media/_Templates/5100ae72-47d3-42eb-9e95-f0845f0c6331/sh…] Sehr geehrte Damen und Herren, die Wirtschaftskammer Österreich ladet Sie herzlich zu den Wirtschaftspolitischen Gesprächen am 11. Mai 2015 zum Thema "High growth and low debt - Learning from Lithuania" ein. High growth and low debt - Learning from Lithuania Montag, 11. Mai 2015, 17 - 19 Uhr (following reception) Wirtschaftskammer Österreich, WKÖ Sky Lounge Wiedner Hauptstraße 63 1040 Wien Lithuania is a small country with big neighbours, well known as a model of fast and efficient adaptation to new economic challenges and high fiscal discipline. The lecture will address potential lessons that may be learned from the reform process that took place in Lithuania in the last years. Focus will also be on foreign economic relations in the region, drivers of growth and investment conditions. What can we learn from Lithuania? Welcome Address Christoph Leitl President of the Austrian Federal Economic Chamber Key note Andrius Kubilius Prime Minister of Lithuania (1999 - 2000 and 2008 - 2012) Moderation Christoph Schneider Austrian Federal Economic Chamber - Economic Policy Department ________________________________ Die Veranstaltung wird in englischer Sprache abgehalten. Bitte um Anmeldung bis 6. Mai 2015 unter: petra.gruber(a)wko.at<http://news.wko.at/sys/r.aspx?sub=7qOoB_XBDgy&link=1Z9z> ________________________________ [http://news.wko.at/Media/_Templates/5100ae72-47d3-42eb-9e95-f0845f0c6331/ar…] Einladung <http://news.wko.at/sys/r.aspx?sub=7qOoB_XBDgy&link=1ZEV&mid=347f8726> [http://news.wko.at/Media/_Templates/5100ae72-47d3-42eb-9e95-f0845f0c6331/sp…] Medieninhalber/Herausgeber: Wirtschaftskammer Österreich, Stabsabteilung Wirtschaftspolitik Wiedner Hauptstraße 63, 1045 Wien T +43 (0)5 90 900 4270 E wp(a)wko.at<mailto:wp@wko.at> |W wko.at/wp<http://news.wko.at/sys/r.aspx?sub=7qOoB_XBDgy&link=1Z9B> Vertretungsbefugtes Organ: Präsident Dr. Christoph Leitl Tätigkeitsbereich: Information, Beratung und Unterstützung der Mitglieder als gesetzliche Interessenvertretung. Chefredaktion: Dr. Christoph Schneider Druck: Eigenvervielfältigung, Erscheinungsort Wien > Weiterleiten<http://news.wko.at/sys/r.aspx?sl=h&mid=347f8726&sub=7qOoB_XBDgy> > Offenlegung nach § 25 Mediengesetz<http://news.wko.at/sys/r.aspx?sub=7qOoB_XBDgy&sl=1F>

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Upcoming Elective Courses at IHS: "Corporate Governance and Corporate Control" by Zsuzsanna Fluck and Search and "Matching with Applications" by Melvyn Coles
by Economics Department 22 Apr '15

22 Apr '15

Dear all, The Department of Economics and Finance at the Institute for Advanced Studies (IHS)<https://www.ihs.ac.at/ecofin-research-teaching/> cordially invites you to the following courses: Zsuzsanna Fluck (Michigan State University)<http://broad.msu.edu/facultystaff/fluck/> Corporate Governance and Corporate Control<https://www.ihs.ac.at/fileadmin/public/ecofin_teaching/MSc_Teaching/Academi…> (May 8 - 20, 2015) and Melvyn Coles (Essex)<http://www.essex.ac.uk/economics/staff/profile.aspx?ID=1679> Search and Matching with Applications<https://www.ihs.ac.at/fileadmin/public/ecofin_teaching/MSc_Teaching/Academi…> (May 19 - 29, 2015) If you would like to participate in these courses, please contact us (economics(a)ihs.ac.at<mailto:economics@ihs.ac.at>) before the beginning of the course. Please also get in touch with us for details on the teaching schedules. Best regards, Elisabeth Potzmann Elisabeth Potzmann Department Manager, Department of Economics and Finance [cid:image002.jpg@01D03FA2.C6F59720] Institut für Höhere Studien - Institute for Advanced Studies Stumpergasse 56, 1060 Vienna, Austria Tel: +43 1 59991 - 145 E-mail: economics(a)ihs.ac.at<mailto:economics@ihs.ac.at> Web: http://economics.ihs.ac.at<http://economics.ihs.ac.at/>

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wiiw-FIW-Seminar in International Economics, 12 May 2015
by wiiw WIENER INSTITUT 22 Apr '15

22 Apr '15

Dear Colleague, We cordially invite you to the wiiw-FIW-Seminar in International Economics on Tuesday, May 12th, 4 pm wiiw, Rahlgasse 3, 1060 Vienna, lecture hall (ground floor) Europe´s Export Superstars - it´s the Organization! Dalia Marin (with Jan Schymik and Jan Tscheke) LMU Munich Abstract What explains Germany´s superb export performance? Is Germany´s export behaviour very distinct compared to other European countries? In this paper, we explore the organizational responses to competition of 14,000 exporting firms in 7 European countries. We examine the export business model of the median exporter in each country as well as of the top 1 % of exporters in each country accounting for 20 % to 55 % of total exports. What do these firms do to become superstars? We find, first, that the export market share of the median exporter in each of the countries to the world are more than tripled (in some cases the export market share increases 10 fold) for firms which combine decentralized management with offshoring production to low wage countries. Exporters which abstain from any organizational adjustment do very badly. Decentralized management provides incentives for workers for product improvements allowing exporters to compete on quality. Offshoring production to low wage countries reduces costs allowing exporters to compete on prices. Second, we find that Germany is the leading quality exporter in Europe followed by Austria and Spain. Among the top 10 % percent of exporters there is no single firm with low quality in Germany and Austria which suggest that decentralized management has provided incentives for quality in these countries. Third, Germany´s exports are the least vulnerable to price increases, while exports in France and Italy respond strongly to price changes and thus reducing costs via offshoring benefit these countries most. Keywords: Exports, firm organization, offshoring, productivity, product quality. JEL Classification: F14, D23, L22. After the seminar there will be the opportunity for the speaker and the audience for further discussions, accompanied by drinks and snacks. This seminar series is an activity in the framework of FIW ('Forschungsschwerpunkt Internationale Wirtschaft'), which is a project designed to build a center of excellence in research on International Economics, funded by the Austrian Ministry of Science, Research and Economy (BMWFW). The seminar programme is regularly updated. Please visit our website for the current version of the programme at: http://wiiw.ac.at/fiw-wiiw-seminars-in-international-economics-es-6.html http://www.fiw.ac.at/index.php?id=748 (Papers and presentation slides, as far as available, are posted on our homepage http://wiiw.ac.at/events.html after the respective seminars.) Best regards Julia Grübler Organizer -- Michaela Bönisch Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw) The Vienna Institute for International Economic Studies Rahlgasse 3, A-1060 Wien T: +43 1 533 66 10 - 40 F: +43 1 533 66 10 - 50 boenisch(a)wiiw.ac.at http://www.wiiw.ac.at/ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ If you do not want to receive further mailings please send an e-mail to boenisch(a)wiiw.ac.at Falls Sie keine weiteren Zusendungen des wiiw wünschen senden Sie bitte ein E-Mail an boenisch(a)wiiw.ac.at

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Einladung zur Vortragsreihe WIFO-Extern am 04.05.2015, 13:15
by Fabian Unterlass 21 Apr '15

21 Apr '15

Um die graphische Version (HTML) dieses E-Mails zu sehen, klicken Sie auf den folgenden Link, oder kopieren Sie ihn in Ihren Browser: < http://newsletter.wifo.ac.at/sys/w.aspx?sub=e459T_1FBGZt&mid=5b4061d3 > Einladung: WIFO-Extern zum Thema "Inequality and inequity in the use of long-term care in Europe: decomposition analysis and the effect of wealth" ------------------------------------------------------------- ------------------------------------------------------------- Sehr geehrte Damen und Herren, das WIFO lädt Sie herzlich zum nächsten Termin der Vortragsreihe WIFO-Extern ein: Montag, 04. Mai 2015, 13:15 Uhr WIFO, Kleiner Sitzungssaal Stefania llinca (European Centre for Social Welfare Policy and Research) "Inequality and inequity in the use of long-term care in Europe: decomposition analysis and the effect of wealth" Abstract: There are significant differences across social protection systems in Europe as to the scope, breadth and depth of coverage of the risk to need long-term care in old-age. Together with other factors, such as education, household structure or societal values regarding care for frail older people, these differences can have a significant impact on the use of long-term care. Using SHARE data, this Research Note compares differences between European countries in the use of long-term care across income groups, for older people living at home. It analyses not only inequalities in the use of long-term care, but also differences in use that persist after differences in need have been taken into consideration, i.e. horizontal inequity. For this purpose, concentration indices, concentration curves and horizontal inequity indices are estimated for home care services and informal care. The countries analysed here are Austria, Germany, Sweden, the Netherlands, Spain, Italy, France, Denmark, Greece, Belgium and Czech Republic. The findings suggest that differences in use of home care services across income groups mostly reflect differences in need between those same groups. For informal care, the differences in use persist even after accounting for needs, and less affluent individuals are much more likely to use informal care. This Research Note discusses some possible causes for these differences and policy implications. Bei Interesse am Besuch dieses Vortrages schicken Sie bitte (bis einen Tag vor der Veranstaltung) eine formlose Anmeldung an fabian.unterlass(a)wifo.ac.at < http://newsletter.wifo.ac.at/sys/r.aspx?sub=e459T_1FBGZt&link=4fFh > , um uns die Abschätzung des Raumbedarfs zu erleichtern. Wir würden uns freuen, Sie zu diesem Vortrag am WIFO begrüßen zu dürfen! --------------------------------------------------------------------------------------------- Fabian Unterlass WIFO - Österreichisches Institut für Wirtschaftsforschung Arsenal, Objekt 20 1030 Wien Tel.: +43 (1) 798 26 01-477 Fax: +43 (1) 798 93 86 Web: http://www.wifo.ac.at E-Mail: fabian.unterlass(a)wifo.ac.at --------------------------------------------------------------------------------------------- © 2014 Österreichisches Institut für Wirtschaftsforschung 1030 Wien, Arsenal, Objekt 20 Impressum < http://newsletter.wifo.ac.at/sys/r.aspx?sub=e459T_1FBGZt&link=4fFi > | AGB < http://newsletter.wifo.ac.at/sys/r.aspx?sub=e459T_1FBGZt&link=4fFk > | Datenschutzerklärung < http://newsletter.wifo.ac.at/sys/r.aspx?sub=e459T_1FBGZt&link=4fFj > Tel.: +43 (0) 1 798 26 01-0 Fax: + 43 (0) 1 798 93 86 E-Mail: publikationen(a)wifo.ac.at ------------------------------------------------------------- Persönliche Daten ändern: < http://newsletter.wifo.ac.at/sys/r.aspx?sub=e459T_1FBGZt&sl=1ng&mid=5b4061d3 > ------------------------------------------------------------- Weiterleiten: < http://newsletter.wifo.ac.at/sys/r.aspx?sub=e459T_1FBGZt&sl=1nh&mid=5b4061d3 > ------------------------------------------------------------- Newsletter abbestellen: < http://newsletter.wifo.ac.at/sys/r.aspx?sub=e459T_1FBGZt&sl=1nf&mid=5b4061d3 > -------------------------------------------------------------

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Save the Date - "PPP, Project Bonds & Co - Neue Wege der Infrastrukturfinanzierung" am 2. Juni 2015
by wp＠wko.at 20 Apr '15

20 Apr '15

[http://news.wko.at/Media/_Templates/5100ae72-47d3-42eb-9e95-f0845f0c6331/sp…] Falls dieses E-Mail nicht korrekt dargestellt wird, verwenden Sie bitte diesen Link<http://news.wko.at/sys/w.aspx?sub=7oam8_2lWiTd&mid=808908e7> Save the Date [Banner Kommunaler Dialog_3] [http://news.wko.at/Media/_Templates/5100ae72-47d3-42eb-9e95-f0845f0c6331/sh…] Sehr geehrte Damen und Herren, Kommunalkredit und Wirtschaftskammer Österreich freuen sich, Sie zum KOMMUNALEN DIALOG "PPP, Project Bonds & Co - Neue Wege der Infrastrukturfinanzierung" am 2. Juni 2015 um 15:30 Uhr in der Kommunalkredit Austria, 1092 Wien, Türkenstraße 9, einzuladen. Public-Private-Partnerships (PPP) stehen im Fokus der aktuellen, zum Teil auch kontrovers geführten, Diskussion um die Finanzierung von Infrastruktur. Welche Bedürfnisse haben öffentliche und private Partner heute und in Zukunft? Wie können effiziente PPP-Lösungen aussehen und welche Best-Practice-Beispiele gibt es? Welche Anforderungen stellt der Juncker-Plan? Die Impulsreferate und hochkarätigen Diskussionsrunden geben allen, die mit der Finanzierung von Infrastruktur befasst sind, Orientierung und interessante Einblicke. Bitte merken Sie sich den Termin vor! Die Einladung mit dem genauen Programmablauf und der Anmeldemöglichkeit folgt in Kürze. Wir freuen uns auf Ihr Kommen. [http://news.wko.at/Media/_Templates/5100ae72-47d3-42eb-9e95-f0845f0c6331/sp…] Medieninhalber/Herausgeber: Wirtschaftskammer Österreich, Stabsabteilung Wirtschaftspolitik Wiedner Hauptstraße 63, 1045 Wien T +43 (0)5 90 900 4270 E wp(a)wko.at<mailto:wp@wko.at> |W wko.at/wp<http://news.wko.at/sys/r.aspx?sub=7oam8_2lWiTd&link=1YK7> Vertretungsbefugtes Organ: Präsident Dr. Christoph Leitl Tätigkeitsbereich: Information, Beratung und Unterstützung der Mitglieder als gesetzliche Interessenvertretung. Chefredaktion: Dr. Christoph Schneider Druck: Eigenvervielfältigung, Erscheinungsort Wien > Weiterleiten<http://news.wko.at/sys/r.aspx?sl=h&mid=808908e7&sub=7oam8_2lWiTd> > Offenlegung nach § 25 Mediengesetz<http://news.wko.at/sys/r.aspx?sub=7oam8_2lWiTd&sl=1F>

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Reminder: wiiw seminar "Policy Perspectives for European Integration", 20 April 2015
by wiiw WIENER INSTITUT 20 Apr '15

20 Apr '15

Dear Colleague, We cordially invite you to the next wiiw seminar 'Policy Perspectives for European Integration' on Monday, 20 April 2015, 5 pm wiiw, Vienna 6, Rahlgasse 3, lecture hall (entrance from the ground floor) The European fiscal framework: can it ensure debt sustainability and adequate fiscal stabilisation? Zsolt Darvas senior fellow, Bruegel Abstract The two main objectives of a fiscal framework are to discourage the deficit bias of the government in order to ensure long-term sustainability of public debt and to leave scope for countercyclical fiscal policy. By estimating fiscal reaction functions for a large number of advanced and emerging economies, Zsolt Darvas (together with his research colleagues Gregory Claeys and Silvia Merler) conclude that while automatic stabilisers were allowed to work in euro-area countries, the slightly counter-cyclical pre-crisis discretionary fiscal policy has disappeared during the crisis. Some euro-area countries implemented pro-cyclical fiscal tightening. By reviewing the characteristics of alternative fiscal frameworks and their effectiveness from theoretical and empirical perspectives, Zsolt Darvas et. al. assess the relevance of the current European fiscal framework to achieve the two main objectives. They make recommendations on how the European framework (including its specific provisions for the euro area) should evolve in the coming years. (Papers and Powerpoint presentations, as far as available, are posted on our homepage http://wiiw.ac.at/events.html after the respective seminars.) Best regards Univ.Prof.Dr. Michael Landesmann Dr. Sándor Richter Scientific Director wiiw Organizer -- Michaela Bönisch Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw) The Vienna Institute for International Economic Studies Rahlgasse 3, A-1060 Wien T: +43 1 533 66 10 - 40 F: +43 1 533 66 10 - 50 boenisch(a)wiiw.ac.at http://www.wiiw.ac.at/ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ If you do not want to receive further mailings please send an e-mail to boenisch(a)wiiw.ac.at Falls Sie keine weiteren Zusendungen des wiiw wünschen senden Sie bitte ein E-Mail an boenisch(a)wiiw.ac.at

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