Activities > WWWforEurope Activities 2015 > 43rd OeNB Conference

Karl Aiginger and Andreas Ittner © Oesterreichische Nationalbank

Karl Aiginger, Sonja Steßl, and Ewald Nowotny © Oesterreichische Nationalbank

43rd OeNB Economics Conference


43rd Oesterreichische Nationalbank Economics Conference

Vienna, Austria, 15-16 June 2015

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Karl Aiginger (WIFO) - Perspectives based on WWWforEurope

Alexia Fürnkranz-Prskawetz (Vienna University of Technology) - Demographic Change and Economic Growth


At a high-level meeting at Oesterreichische Nationalbank – their 43rd Economics Conference – Karl Aiginger and André Sapir of the Bruegel think tank discussed strategies to restart growth in Europe, specifically since the economic output in the Eurozone in 2015 was smaller than in 2007. André Sapir stressed that Europe has not been able to close the productivity difference to the leading US since the mid-nineties.

Karl Aiginger emphasised that innovations necessary to the restart of growth should be different, focusing more on ecological and social goals and less on labour productivity. Europe should go for a high road to competitiveness, building on capabilities like education, innovation and growth-promoting institutions.

Subsidies for fossil energy should be curbed and it is all-important to build an infrastructure not relying on fossil energy if we want to reach the goal of decarbonisation in the second half of the century (as stated in the energy roadmap of the EU 2050 or in the zero emission target of the OECD).