March 2017 - NOeG-l - Wirtschaftsuniversität Wien

Einladung zur Enquete Österreich 2025: Investitionen
by wp＠wko.at 30 Mar '17

30 Mar '17

Falls dieses E-Mail nicht korrekt dargestellt wird, verwenden Sie bitte diesen Link<http://newsletter.wko.at/sys/w.aspx?sub=cDBG1_4844Il&mid=e186e2ad> Enquete [Banner_WIFO_Sozpart] [http://newsletter.wko.at/Media/_Templates/5100ae72-47d3-42eb-9e95-f0845f0c6…] Sehr geehrte Damen und Herren, die österreichischen Sozialpartner und das Österreichische Institut für Wirtschaftsforschung (WIFO) laden herzlich zur gemeinsamen Enquete zum Thema "Österreich 2025: Investitionen - Motor für Wachstum und Beschäftigung" ein. Österreich 2025: Investitionen Motor für Wachstum und Beschäftigung Mittwoch, 26. April 2017, 9 - 12 Uhr (anschließend Buffet) Wirtschaftskammer Österreich, WKO Sky Lounge Wiedner Hauptstraße 63 1040 Wien Anmeldung zur Veranstaltung bis 19. April 2017 unter: andrea.daenemark(a)wko.at<http://newsletter.wko.at/sys/r.aspx?sub=cDBG1_4844Il&link=3V1M> [http://newsletter.wko.at/Media/_Templates/5100ae72-47d3-42eb-9e95-f0845f0c6…] Einladung und Programm <http://newsletter.wko.at/sys/r.aspx?sub=cDBG1_4844Il&link=3V4L&mid=e186e2ad> [http://newsletter.wko.at/Media/_Templates/5100ae72-47d3-42eb-9e95-f0845f0c6…] 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://newsletter.wko.at/sys/r.aspx?sub=cDBG1_4844Il&link=3UWg> 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://newsletter.wko.at/sys/r.aspx?sl=h&mid=e186e2ad&sub=cDBG1_4844Il> > Offenlegung nach § 25 Mediengesetz<http://newsletter.wko.at/sys/r.aspx?sub=cDBG1_4844Il&link=3V2L>

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WIFO-Extern: "The Effect of Government Research Grants on Firm Innovation: Theory and Evidence from Austria"
by veranstaltungen＠wifo.ac.at 29 Mar '17

29 Mar '17

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=uyLZQ_1dU02u&mid=42d9d38a > Einladung: WIFO-Extern zum Thema "The Effect of Government Research Grants on Firm Innovation: Theory and Evidence from Austria" ------------------------------------------------------------- ------------------------------------------------------------- Sehr geehrte Damen und Herren, das WIFO lädt Sie herzlich zum nächsten Termin der Vortragsreihe WIFO-Extern ein: Mittwoch, 5. April 2017, 13:15 Uhr WIFO, Kleiner Sitzungssaal Rainer Widmann (Kellogg School of Management at Northwestern University) "The Effect of Government Research Grants on Firm Innovation: Theory and Evidence from Austria" Kommentar: Harald Oberhofer (WU/WIFO) Abstract: This paper examines the effect of government research grants on firms' patenting outcomes. Discontinuities in the funding decisions of the Austrian Research Promotion Agency (FFG) allow to study the effect of public funding in a large sample of Austrian firms. My estimates suggest that a government research grant increases the propensity to file a patent application with the European Patent Office within 4 years by around 10 percentage points. Stronger effects appear for established firms of advanced age. I present evidence that established firms undertake ambitious research projects when they receive grants. Finally, I interpret the findings in an "exploration vs. exploitation" model in which the government agency addresses inefficiency in the direction of research. Bei Interesse am Besuch dieses Vortrages schicken Sie bitte (bis einen Tag vor der Veranstaltung) eine formlose Anmeldung an veranstaltungen(a)wifo.ac.at < http://newsletter.wifo.ac.at/sys/r.aspx?sub=uyLZQ_1dU02u&link=9iWr > , um uns die Abschätzung des Raumbedarfs zu erleichtern. Um diesen Vortrag in Ihren Kalender zu importieren, klicken Sie bitte hier < http://newsletter.wifo.ac.at/sys/r.aspx?sub=uyLZQ_1dU02u&link=9iWq&mid=42d9… > . Wir würden uns freuen, Sie zu diesem Vortrag am WIFO begrüßen zu dürfen! Christian Glocker WIFO - Österreichisches Institut für Wirtschaftsforschung Arsenal, Objekt 20 1030 Wien Tel.: +43 (1) 798 26 01-303 Fax: +43 (1) 798 93 86 Web: http://newsletter.wifo.ac.at/sys/r.aspx?sub=uyLZQ_1dU02u&link=9iWp E-Mail: Christian.Glocker(a)wifo.ac.at < http://newsletter.wifo.ac.at/sys/r.aspx?sub=uyLZQ_1dU02u&link=9iWo > --------------------------------------------------------------------------------------------- © 2016 Österreichisches Institut für Wirtschaftsforschung 1030 Wien, Arsenal, Objekt 20 Impressum < http://newsletter.wifo.ac.at/sys/r.aspx?sub=uyLZQ_1dU02u&link=9iWt > | AGB < http://newsletter.wifo.ac.at/sys/r.aspx?sub=uyLZQ_1dU02u&link=9iWw > | Datenschutzerklärung < http://newsletter.wifo.ac.at/sys/r.aspx?sub=uyLZQ_1dU02u&link=9iWv > Tel.: +43 (0) 1 798 26 01-0 Fax: + 43 (0) 1 798 93 86 E-Mail: veranstaltungen(a)wifo.ac.at < http://newsletter.wifo.ac.at/sys/r.aspx?sub=uyLZQ_1dU02u&link=9iWu > ------------------------------------------------------------- Persönliche Daten ändern: < http://newsletter.wifo.ac.at/sys/r.aspx?sub=uyLZQ_1dU02u&sl=1ng&mid=42d9d38a > ------------------------------------------------------------- Weiterleiten: < http://newsletter.wifo.ac.at/sys/r.aspx?sub=uyLZQ_1dU02u&sl=1nh&mid=42d9d38a > ------------------------------------------------------------- Newsletter abbestellen: < http://newsletter.wifo.ac.at/sys/r.aspx?sub=uyLZQ_1dU02u&sl=1nf&mid=42d9d38a > -------------------------------------------------------------

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REMINDER: Invitation: Joint Vienna Macro Seminar (April 4): Pontus Rendahl
by IHS Economics 29 Mar '17

29 Mar '17

[cid:image002.png@01D2A88A.B0C43E90][cid:image003.png@01D2A88A.B0C43E90] JOINT VIENNA MACROECONOMICS SEMINAR INVITATION R E M I N D E R The Joint Vienna Institute and the Institute for Advanced Studies cordially invite you to the following Joint Vienna Macroeconomics Seminar <http://www.ihs.ac.at/vienna/resources/Economics/Papers/20130226_Paper_Zimme…> Tuesday, April 4, 2017 Institute for Advanced Studies Josefstädter Straße 39, 1080 Vienna Seminar Room SE 101, 1st floor 5:00 pm Pontus Rendahl<http://www.econ.cam.ac.uk/people/crsid.html?crsid=rpk22&group=faculty> University of Cambridge Deconstructing the Fiscal Multiplier Abstract: The fiscal multiplier is not a parameter, but the equilibrium outcome of several simultaneously operating mechanisms. In particular, the recent theoretical literature has emphasized the role of expectations as the key channels that determines the efficacy of countercyclical government spending. Using an expectations augmented structural vector autoregression (SVAR), this paper assesses the extent to which expectations of future output and inflation may explain the presence, and size, of a fiscal multiplier. Using several identification procedures and a wide range of decomposition techniques, our results can be summarized as follows: First, a rise in government spending is associated with a persistent rise in both output and expected output, as well as a decline in inflation and expected inflation. Second, the rise in output is largely attributable to the rise in expected output, while the role of expected inflation plays a negligible role. Lastly, using several counterfactual experiments, we find that the rise in expected output is a large causal determinant of the efficacy of fiscal policy, while expected inflation is not. Our results are broadly supportive of the transmission mechanisms identified in the theoretical literature, but emphasizes the role of expected output to a much larger extent than previously acknowledged. Joint work with Saleem Bahaj We are looking forward to seeing you! IHS Institute for Advanced Studies Josefstädter Straße 39, 1080 Vienna, Austria Tel.: +43 1 599 91 - 0 e-Mail: economics(a)ihs.ac.at<mailto:economics@ihs.ac.at> http://www.ihs.ac.at<http://www.ihs.ac.at/> LINKS DIRECTIONS TO IHS on Google maps<https://www.google.at/maps/place/Institut+f%C3%BCr+H%C3%B6here+Studien/@48.…> JOINT VIENNA MACRO SEMINAR<https://www.google.com/calendar/embed?src=6h1m59s6inkmo4ppa30s4itb6k%40grou…> on Google calendar<https://www.google.com/calendar/embed?src=6h1m59s6inkmo4ppa30s4itb6k%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:image008.jpg@01CEA8B6.39ACE730]<http://www.ihs.ac.at/> [JVI_2011]<http://www.jvi.org/> Diese Zusendung erfolgt entsprechend den Bestimmungen des TKG 247107. Sollten Sie keine weiteren Zusendungen wuenschen, 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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OECD Job Vacancy: Deputy Director - Economics Department
by KAZEMZADEH, Kamran 29 Mar '17

29 Mar '17

Sehr geehrte Damen und Herren, Die unten bezeichnete Position an der OECD ist zu besetzen: https://oecd.taleo.net/careersection/ext/jobdetail.ftl . Die Bewerbungsfrist läuft bis 30.4.2017. Bei dieser Gelegenheit darf ich die obere Hierarchiestruktur der OECD und des ECO-Direktorates im Besonderen in Erinnerung rufen (s.u. Copy and Paste aus dem OECD-internen Telephonbuch, also aus OLIS). (Und bei dieser Gelegenheit vielleicht auch der Hinweis, dass in diversen anderen OECD-Direktoraten ebenfalls viele Volkswirte beschäftigt sind.) Wenn Sie sich bewerben, können Sie sich gerne mit der Ständigen Vertretung Österreichs bei der OECD in Verbindung setzen. Mit besten Grüßen Kamran Kazemzadeh MMag.Dr. Kamran Kazemzadeh Wirtschafts- und Finanzattaché Ständige Vertretung Österreichs bei der OECD 3, rue Albéric Magnard 75116 Paris, Frankreich Tel : +33-1-53.92.23.36 kamran.kazemzadeh(a)bka.gv.at<mailto:kamran.kazemzadeh@bka.gv.at> +++++++++++++++++++++++++++++++++ [cid:image002.png@01D2A87D.52AA3330] +++++++++++++++++++++++++++++++++ Job Description Deputy Director - Economics Department (Job Number: 11333) Description The OECD<http://www.oecd.org/about> is a global economic forum working with 35 member countries and more than 100 emerging and developing economies to make better policies for better lives. Our mission is to promote policies that will improve the economic and social well-being of people around the world. The Organisation provides a unique forum in which governments work together to share experiences on what drives economic, social and environmental change, seeking solutions to common problems. The Economics Department<http://www.oecd.org/eco/> of the OECD (ECO) aims to enhance economic performance in member and selected non-member countries through sound and innovative policy advice. It deals with a wide array of policy areas including macro-economic management, with a very strong emphasis on structural policy issues. Its key products are OECD Country Surveys<http://www.oecd.org/eco/surveys/>, the twice-yearly Economic Outlook,<http://www.oecd.org/eco/economicoutlook.htm> Going for Growth<http://www.oecd.org/eco/growth/goingforgrowth.htm> and research and policy papers on a wide range of topics. The Department is a co-convener of the Global Productivity Forum, the OECD Fiscal Network and support work related to COP 21 and SDGs. It contributes to "horizontal projects" particularly to the New Approaches to Economic Challenges, and the Inclusive Growth Initiative. Its policy advice is derived from a variety of sources, including country surveillance, cross-country benchmarking and evidence derived from empirical research. ECO currently employs about 160 staff members who support work across a broad range of economic policy areas to advance the Strategic Orientations of the Secretary-General ensuring impact of the OECD economic policy work in the international governance architecture, in co-ordination with the OECD Sherpa team. For further details of the Department's work see www.oecd.org/eco<http://www.oecd.org/eco>. The OECD is looking for a dynamic and highly competent Deputy Director of the Economics Department. S/he will report to the Chief Economist of the OECD, support the Chief Economist and Directors in the Department, and work in close cooperation with the Secretary-General and other Directors. As a key member of the senior management team of ECO as well as of the Organisation, s/he will be required to contribute to advancing the strategic orientations of the Secretary-General. S/he will provide leadership and strategic guidance to the Economics Department, focusing on horizontality and opportunities to synthesise the work of the Country Studies<http://www.oecd.org/eco/surveys/economic-surveys-who-does-what.htm> (CS) and the Policy Studies Branches<http://www.oecd.org/eco/policy-studies-who-does-what.htm> (PS). The Deputy Director will also be responsible to foster close co-operation and effective interaction with other substantive Directorates. The ideal candidate will have excellent and proven public policy skills and a full command of the economic theory and the empirical literature relevant to policy analysis and economic reform. S/he will have a broad understanding of economic frameworks and institutions across a range of OECD countries and some non-member economies and a track record in policymaking or in a policy advisory role. Along with the Chief Economist and the Policy Studies and Country Studies Branch Directors, s/he will be responsible of ensuring a high level of quality in the work produced by the Department. Main Responsibilities: Strategic vision and leadership Along with the Chief Economist and Country Studies and Policy Studies Directors, support the advancement of the Secretary General's Strategic objectives by contributing in the following areas: · Strong Intellectual leadership, and engagement with across the house initiatives. · Identify upcoming policy challenges and research directions to provide evidence-based policy recommendations to national policy makers. · Promote agility and flexibility within the Department, with innovative ways to address policy issues. · Exercise oversight and identifying synergies between the analytical and policy content of the country reviews and other reports produced by the Country Studies Branch (CS), and the cross-country research and policy reports produced by the Policy Studies Branch (PS). · Shape the global economic assessments and narratives presented in the Economic Outlook, and contribute to the New Approaches to Economic Challenges, and the Inclusive Growth Initiatives. · Lead and overseeing a number of both CS and PS missions, involving meetings with Ministers and other high level policy makers and audiences. · Support member and partner countries in the follow up of the policy recommendations, and work together with Office of the Secretary General (OSG) to advance policy brochures for member and partner countries. · Engage in the overall management of the Department, including budget and human resources policies. Representation and liaison · Represent the OECD and the Economics Department at high-level meetings around the world and interact with senior policy makers, private-sector players, and representatives of academia and civil society. · Represent the Economics Department in OECD-wide bodies, and ensure effective co-ordination and synergies with other directorates and with OSG. · Engage both at a research and policy-making level ensuring effective communication with stakeholders to maximise the value, visibility and impact of ECO's work. · Build collaborative working relationships with other international organisations and fora. · Represent the Directors of Country Studies and Policy Studies Branches to the various committees as needed. · Support the Secretary General in his missions and participation in different fora. Management · Contribute to the management of the Economics Department's programme of work and its resources to ensure the achievement of results and impact. · Ensure excellent level of co-operation and complementarity with other substantive areas in the Organisation. · Participate in leading and motivating a multicultural team to deliver high quality results which will have impact in terms of the relevance and effectiveness of policy recommendations. · As part of the management team, promote excellence and diversity in the Economics Department as a whole through effective recruitment, performance management and professional development of staff. · Engage in the overall management of the Department, including budget and human resources policies. · Ensure strong internal co-ordination on economic policy issues and research, within the Economics Department and with other parts of the OECD. Ideal Candidate Profile Academic Background · An advanced university degree in economics or another relevant field. Professional Background · Extensive experience in formulating and implementing policy recommendations to support economic performance, gained through working in a national administration , research institute or international organisation. · Good knowledge of the economic performance and institutional settings across a range of OECD member countries and emerging economies · Readiness to consider and advance innovative analytical tools, to advance a better understanding of the global economy and of members and partner countries. · Well-established contacts with key actors and stakeholders in the economic community Key competencies · Strong analytical skills combined with an ability to identify emerging issues with implications for economic performance and develop frameworks within which such issues can be assessed and policy recommendations be developed. · Ability to provide strategic direction and vision to the work of the Economics Department. · Excellent political sense, proven skills in creating consensus and the ability to interact effectively with multiple high-level stakeholders. · Ability and diplomatic skills to influence senior audiences on complex economic issues. · Strong leadership skills and proven ability to motivate and manage a high-performance, multidisciplinary and multicultural team. Languages · Excellent oral and written communication skills in one of the two official languages of the OECD (English and French) and willingness to develop proficiency in the other. · Excellent skills in public speaking, presenting and dealing with the media in order to communicate the work of the Economics Department to a wide range of audiences. · Excellent drafting and editorial skills. Core Competencies · Please refer to the level 5 indicators of the OECD Core Competencies<http://www.oecd.org/careers/competency_framework_en.pdf>. Contract Duration · Three-year fixed term appointment, with the possibility of renewal. What the OECD offers<http://www.oecd.org/careers/whatweoffer.htm> · Monthly base salary starting from 11 281.68 EUR, plus allowances based on eligibility, exempt of French income tax. The OECD is an equal opportunity employer and welcomes the applications of all qualified candidates who are nationals of OECD member countries<http://www.oecd.org/about/membersandpartners/list-oecd-member-countries.htm>, irrespective of their racial or ethnic origin, opinions or beliefs, gender, sexual orientation, health or disabilities. The OECD promotes an optimal use of resources in order to improve its efficiency and effectiveness. Staff members are encouraged to actively contribute to this goal ++++++++++++++++++++++++++++++ [cid:image006.jpg@01D2A87D.52AA3330] [cid:image008.jpg@01D2A87D.52AA3330] [cid:image012.jpg@01D2A87D.52AA3330] [cid:image013.jpg@01D2A87D.52AA3330]

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Post-Doc: Wohnungspolitik/Ökonomie
by Michael Getzner 29 Mar '17

29 Mar '17

Sehr geehrte Kolleg/inn/en, wir suchen einen Post-Doc (40 Std., 6 Jahre befristet, Raumplanung, Wirtschaftswissenschaften mit Raumbezug) in den Bereichen Wohnungspolitik/-ökonomie, Immobilienökonomie, Finanzwissenschaft. Details in der beiliegenden Ausschreibung, ich danke für die Information von möglichen Interessent/inn/en. Besten Dank und freundliche Grüße Michael Getzner -- *Univ.-Prof. Dr. Michael Getzner* *Achtung: ab 1.9.2016 neue Büroadresse: Augasse 2-6, 1090 Wien (Ausweichquartier in der "alten WU")* *New temporary street address from 1 Sept 2016 at Augasse 2-6, 1090 Vienna* Fachbereich Finanzwissenschaft und Infrastrukturpolitik / Center of Public Finance and Infrastructure Policy Department für Raumplanung / Department of Spatial Planning Technische Universität Wien / Vienna University of Technology Karlsplatz 13, 1040 Vienna / Wien, Austria Ph. +43 (0)1 58801 280320, Fax +43 (0)1 58801 9280320 Mobile +43 (0) 676 4129222 michael.getzner(a)tuwien.ac.at, www.ifip.tuwien.ac.at

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WU Economic Research Seminar 05.04.17, Holger Görg (IFW, Universität Kiel)
by Tondl, Gabriele 28 Mar '17

28 Mar '17

Dear colleagues, The Department of Economics cordially invites you to the Economic Research Seminar (Department Seminar) on Wednesday, April 5, with Holger Görg (IFW, Universität Kiel) on "Which Boats are lifted by a Foreign Tide? Direct and Indirect Wage Effects of Foreign Ownership" Place and time: Wednesday, April 5, 4.30 - 6.00 p.m., Campus WU, Welthandelsplatz 1, 1020 Vienna, building D4, 2nd floor, Department meeting room 2.008 With best regards, Gabriele Tondl a.o. Univ.Prof.Dr. Gabriele Tondl Institute for International Economics Department of Economics WU Vienna University of Economics and Business Welthandelsplatz 1 A-1020 Vienna, Austria

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Invitation to Workshop on Models and Methods for Analysing Regional and National Economic Policies
by Neck, Reinhard 28 Mar '17

28 Mar '17

Dear Colleagues, Please find attached the program of the Workshop on Models and Methods for Analysing Regional and National Economic Policies, which is organized on Friday, March 31, 2017 at 1:30 pm in room I.0.42 within the doctoral program "Modelling, Simulation and Optimization in Business and Economics" (MSOBE) of Alpen-Adria-Universität Klagenfurt. Anybody interested is cordially invited to attend. Participation is free of charge, but please inform us at vwl2(a)aau.at<mailto:vwl2@aau.at> if you wish to attend. Best regards, Reinhard Neck Prof. Dr. Reinhard Neck Department of Economics Alpen-Adria-University Klagenfurt Universitätsstrasse 65-67 A-9020 Klagenfurt Austria/Europe

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Invitation to Workshop on Models and Methods for Analysing Regional and National Economic Policies
by Neck, Reinhard 28 Mar '17

28 Mar '17

Dear Colleagues, Please find attached the program of the Workshop on Models and Methods for Analysing Regional and National Economic Policies, which is organized on Friday, March 31, 2017 at 1:30 pm in room I.0.42 within the doctoral program "Modelling, Simulation and Optimization in Business and Economics" (MSOBE) of Alpen-Adria-Universität Klagenfurt. Anybody interested is cordially invited to attend. Participation is free of charge, but please inform us at vwl2(a)aau.at<mailto:vwl2@aau.at> if you wish to attend. Best regards, Reinhard Neck Prof. Dr. Reinhard Neck Department of Economics Alpen-Adria-University Klagenfurt Universitätsstrasse 65-67 A-9020 Klagenfurt Austria/Europe

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Erinnerung: Vortrag von Frau Mag. Gizem Yildirim am 3.04.2017 an der TU Wien
by Schneider Brigitte 28 Mar '17

28 Mar '17

Sehr geehrte Damen und Herren, Frau Mag. Gizem Yildirim hält im Rahmen der öffentlichen Vortragsreihe "Economic Theory and Policy" am Montag, 3.04.2017 um 16.00 Uhr einen Vortrag mit dem Titel "The Dynamics of Europe´s Political Economy: a game theoretic analysis" Wir freuen uns, Ihnen anbei die Einladung zur Erinnerung nochmals übermitteln zu dürfen. Mit freundlichen Grüßen Brigitte Schneider Brigitte Schneider Forschungsgruppe Ökonomie Institut für Stochastik und Wirtschaftsmathematik (E 105-3) Technische Universität Wien Wiedner Hauptstraße 8 - 10 A-1040 Wien Tel.: +43-1-58801-10531 Fax: +43-1-58801-105399 E-Mail: brigitte.schneider(a)econ.tuwien.ac.at<mailto:brigitte.schneider@econ.tuwien.ac.at> DVR: 0005886 UID: ATU 37675002

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Invitation: Joint Vienna Macro Seminar (April 4): Pontus Rendahl
by IHS Economics 28 Mar '17

28 Mar '17

[cid:image005.png@01D2A7A7.AF974870][cid:image006.png@01D2A7A7.AF974870] JOINT VIENNA MACROECONOMICS SEMINAR INVITATION The Joint Vienna Institute and the Institute for Advanced Studies cordially invite you to the following Joint Vienna Macroeconomics Seminar <http://www.ihs.ac.at/vienna/resources/Economics/Papers/20130226_Paper_Zimme…> Tuesday, April 4, 2017 Institute for Advanced Studies Josefstädter Straße 39, 1080 Vienna Seminar Room SE 101, 1st floor 5:00 pm Pontus Rendahl<http://www.econ.cam.ac.uk/people/crsid.html?crsid=rpk22&group=faculty> University of Cambridge Deconstructing the Fiscal Multiplier Abstract: The fiscal multiplier is not a parameter, but the equilibrium outcome of several simultaneously operating mechanisms. In particular, the recent theoretical literature has emphasized the role of expectations as the key channels that determines the efficacy of countercyclical government spending. Using an expectations augmented structural vector autoregression (SVAR), this paper assesses the extent to which expectations of future output and inflation may explain the presence, and size, of a fiscal multiplier. Using several identification procedures and a wide range of decomposition techniques, our results can be summarized as follows: First, a rise in government spending is associated with a persistent rise in both output and expected output, as well as a decline in inflation and expected inflation. Second, the rise in output is largely attributable to the rise in expected output, while the role of expected inflation plays a negligible role. Lastly, using several counterfactual experiments, we find that the rise in expected output is a large causal determinant of the efficacy of fiscal policy, while expected inflation is not. Our results are broadly supportive of the transmission mechanisms identified in the theoretical literature, but emphasizes the role of expected output to a much larger extent than previously acknowledged. Joint work with Saleem Bahaj We are looking forward to seeing you! IHS Institute for Advanced Studies Josefstädter Straße 39, 1080 Vienna, Austria Tel.: +43 1 599 91 - 0 e-Mail: economics(a)ihs.ac.at<mailto:economics@ihs.ac.at> http://www.ihs.ac.at<http://www.ihs.ac.at/> LINKS DIRECTIONS TO IHS on Google maps<https://www.google.at/maps/place/Institut+f%C3%BCr+H%C3%B6here+Studien/@48.…> JOINT VIENNA MACRO SEMINAR<https://www.google.com/calendar/embed?src=6h1m59s6inkmo4ppa30s4itb6k%40grou…> on Google calendar<https://www.google.com/calendar/embed?src=6h1m59s6inkmo4ppa30s4itb6k%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:image008.jpg@01CEA8B6.39ACE730]<http://www.ihs.ac.at/> [JVI_2011]<http://www.jvi.org/> Diese Zusendung erfolgt entsprechend den Bestimmungen des TKG 247107. Sollten Sie keine weiteren Zusendungen wuenschen, 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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