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Austria : : Staff Report for the 2014 Article IV Consultation



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Titolo: Austria : : Staff Report for the 2014 Article IV Consultation Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2014
Descrizione fisica: 1 online resource (74 p.)
Disciplina: 330.9436
Soggetto topico: Banks and Banking
Investments: Bonds
Public Finance
Taxation
Demography
Macroeconomics
Finance: General
Banks
Depository Institutions
Micro Finance Institutions
Mortgages
National Government Expenditures and Related Policies: General
Economics of the Elderly
Economics of the Handicapped
Non-labor Market Discrimination
Financial Institutions and Services: Government Policy and Regulation
Personal Income and Other Nonbusiness Taxes and Subsidies
Debt
Debt Management
Sovereign Debt
National Government Expenditures and Health
Banking
Public finance & taxation
Population & demography
Economic & financial crises & disasters
Welfare & benefit systems
Finance
Expenditure
Aging
Bank resolution
Social security contributions
Public debt
Population and demographics
Financial crises
Health care spending
Banks and banking
Expenditures, Public
Population aging
Crisis management
Social security
Debts, Public
Financial services industry
Soggetto geografico: Austria Economic conditions
Austria Economic policy
Austria
Note generali: Description based upon print version of record.
Nota di contenuto: Cover; CONTENTS; INTRODUCTION; RECENT ECONOMIC DEVELOPMENTS, OUTLOOK, AND RISKS; POLICY DISCUSSIONS; A. Completing Bank Restructuring and Strengthening Macro-Financial Stability; BOXES; 1. Pre-Crisis Imbalances and Post-Crisis Growth; 2. Austria's Banking Sector as Inter-Mediator of Western European Savings; B. Rationalizing Public Expenditure to Accelerate Debt Reduction and Reduce Labor Taxes; 3. The Scope for Fiscal Expenditure Rationalization in Austria; C. Raising Potential Growth Through Higher Labor Productivity; STAFF APPRAISAL; FIGURES; 1. The Big Picture
2. Recent Economic Developments 3. Financial Market Indicators; 4. External Linkages; 5. External Sector; 6. Banking Sector; 7. Housing Prices; 8. Long-Term Government Expenditure Growth; 9. Volatility of Government Spending; 10. Tax Burden on Labor; 11. Labor Market Conditions; 12. Fiscal Developments and Outlook; 13. Composition of Government Spending, 2012; 14. Comparison of Pension Parameters; 15. Real GDP per Capita Comparisons; 16. Productivity; 17. Cyclical Indicators; 18. Capital Productivity; 19. Structural Indicators; TABLES; 1. Selected Economic Indicators, 2010-15
2. Medium-Term Macroeconomic Framework, 2010-193. Balance of Payments, 2010-19; 4. General Government Operations, 2010-19; 5. General Government Balance Sheet, 2007-12; 6. Financial Soundness Indicators, 2009-13; 7. Authorities' Response to Past IMF Policy Recommendations; ANNEX; Public Debt Sustainability Analysis (DSA)
Sommario/riassunto: KEY ISSUES Context: Austria did not experience a severe boom-bust cycle and came through the crisis relatively well. The main impact was on the banking sector and public debt. With cyclical slack low and the recovery taking hold, this is the time to resolve crisis legacies and address long-standing structural issues. Outlook and risks: The recovery is taking hold, driven by a pick-up in exports. The most acute risks are mainly geopolitical and could in particular lead to financial spillovers. Financial sector policies: Bank restructuring should now be rapidly completed and bad asset disposal accelerated. Large internationally active banks should stand ready for further capital increases, and the EU banking union framework needs to be swiftly transposed at the national level. Public expenditure reforms: More decisive expenditure reforms in key areas such as pensions, health care, subsidies, and fiscal federalism would generate savings that could be used for both an accelerated debt reduction and lower labor taxation. Boosting potential output growth: Enhancing IT adaptation, improving the performance of the education system, facilitating access to financing for innovative start- ups, and reducing administrative barriers for new businesses would raise potential growth and labor productivity.
Titolo autorizzato: Austria  Visualizza cluster
ISBN: 1-4983-7072-1
1-4983-1180-6
1-4983-9559-7
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910787947203321
Lo trovi qui: Univ. Federico II
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Serie: IMF Staff Country Reports; Country Report ; ; No. 2014/278