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"Financing the Future Welfare State" - WWWforEurope Lecture

Dennis Meadows, professor emeritus of systems management at the University of New Hampshire, co-author of the pioneering 1972 Club of Rome report "The Limits to Growth", will hold a WWWforEurope lecture on "Financing the Future Welfare State" on September 9th, 2014.

WWWforEurope Newsletter August 2014

The WWWforEurope Newsletter 3/2014 has been published!

Call for Papers: 2nd WWWforEurope Best Paper Award

The submission deadline is November 16th, 2014. See the call for papers for details.

Call for Papers for the Research Centre Conference 2014 in Brno

The deadline for submitting abstracts is September 15th, 2014. See the call for papers for details.

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Project Coordinator:

WIFO - Austrian Institute of Economic Research
Arsenal, Objekt 20
1030 Vienna, Austria

Telephone: +43 1 798 26 01-332
Fax: +43 1 798 93 86

Email:
wwwforeurope-office(at)wifo.ac.at
Web: http://www.wifo.ac.at/

European Commission, DG Research and Innovation
Domenico Rossetti – Domenico.Rossetti-di-Valdalbero(at)ec.europa.eu


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This project has received funding from the European Union’s Seventh Framework Programme for research, technological development and demonstration under grant agreement no. 290647.




The project receives additional funding under the TOP.EU program of the Austrian Federal Ministry of Science, Research and Economy.

Welcome to the WWWforEurope Project!

Even before the financial crisis it has become evident that Europe needs a new, future-oriented strategy to regain an economically, socially and environmentally viable position. The mission of the project is to derive a strategy for a more dynamic, inclusive and sustainable Europe. Our tentative results indicate that this is possible if Europe goes for a "high-road strategy" based on quality, skills and innovation. Based on this strategy Europe should try to become a role model for the globalised world.

Read our midterm project information for an overview of WWWforEurope's topical contributions to current discourses, important analyses and insights.


Figure of the Month



Imbalances will persist as long as there is no or too little wage growth in countries with growing current account surpluses.

European countries are clustered according to their wealth and their current account development in the years 2000 to 2007. In Groups 1 to 3 (blue, red, green) countries’ GDP per capita was larger than 80 percent of the European average, in Group 4 (purple) it was lower. Group 1 countries had growing current account surpluses, Group 2 still had surpluses, but declining ones, and Group 3 and 4 had current account deficits. It is evident from the figure that wage growth in Group 1 was below productivity growth while in all other groups, with increasing differences, labour compensation growth was well above productivity growth.

Graph from Stefan Ederer and Peter Reschenhofer, Macroeconomic Imbalances in the EU, WWWforEurope Working Paper No. 42, September 2013, Source: AMECO and own calculations. The grey lines indicate group averages.