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Nobel laureate Kenneth J. Arrow visits WIFO

On October 22nd, 2013, Nobel laureate Kenneth J. Arrow will hold a lecture in Vienna by invitation of the Austrian Institute of Economic Research (WIFO). The economist Kenneth J. Arrow has always delved more broadly and deeply into fundamental problems of society than most of his colleagues. Along with questions of efficiency, social and ecological issues continue to be special concerns for him. In his Viennese lecture on the topic of "Knowledge, Belief and the Economic System", Arrows will highlight the consequences of economic insecurity on economic policy.

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Competitiveness is Not (Only) a Matter of Wage Levels

The concept of competitiveness is often interpreted narrowly in the sense of low wage costs, while social and environmental expenditures tend to be regarded as a burden. Yet, if appropriately designed and implemented, ambitious social and ecological standards may actually raise an economy's productive and innovative capacity. The WWWforEurope research paper "Competitiveness under New Perspectives" by Karl Aiginger, Susanne Bärenthaler-Sieber and Johanna Vogel therefore defines competitiveness as the capability of an economy to generate income, employment, social cohesion and environmental excellence.

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International jury presents WWWforEurope Best Paper Award to Frank W. Geels

Press release in English and German.

The WWWforEurope Best Paper Award for research papers on the theoretical and empirical foundations for dynamic, socially inclusive and ecologically sustainable growth in Europe has been awarded to Frank W. Geels, University of Manchester. Frank W. Geels has received the prize for his research on the effects of the financial crisis on the sustainability of growth in Europe, titled "The Impact of the Financial-economic Crisis on Sustainability Transitions: Financial Investment, Governance and Public Discourse".

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European economic policy needs a triple change of strategy

A recommendation for changes to the EU's strategy on economic policy - press release in German

One week before the EU summit on June 27th and 28th in Paris, directors of leading economic research institutes in the USA, EU, Asia, and Australia discussed the consequences of the crisis and the slow recovery for economic policy. Karl Aiginger, director of the Austrian Institute for Economic Research (WIFO) and coordinator of the WWWforEurope project, calls for a triple strategy change of European policy, political strategies in high income countries and in Southern Europe.


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What consolidation policies in Europe need and lack: strategy, industrial rebuild, innovation, union-support

A European policy brief on development options for peripheral countries - press release in English and German

The consolidation strategies implemented in Greece, Spain and Portugal seem to have failed. Four years after the financial crisis, these countries run budget deficits that average six per cent of GDP. Public debt has risen from 75 to 118 per cent. Growth rates have turned negative and unemployment rates – in particular among the young - are soaring. This calls for an urgent strategy shift.

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Crisis resolution anchored in a long term vision: restoring stability and reshaping growth in Europe

A European policy brief on governance reforms to solve the crisis and beyond - press release in English and German

A temporary, but extensive debt redemption fund; the possibility for the European Stability Mechanism to recapitalise banks; higher and binding priority for growth and employment in the use of EUfunds and national budgets; a regime of automatic transfers such as a Eurozone-wide unemployment insurance; a European “Social Pact” to compensate for the restrictive bias of current governance: These are some of the policy recommendations developed in a policy brief co-written by the London-based think tank Policy Network and the Austrian Institute of Economic Research (WIFO).

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Welfare, Wealth and Work – Towards a New Growth Path for Europe

A European research consortium is working on the analytical foundations for a socio-ecological transition - press release in English

Europe needs a new strategy beyond fiscal austerity, high unemployment and strained biophysical limits. A European consortium is laying the analytical foundations for such a strategy with a research project entitled WWWforEurope – Welfare, Wealth and Work for Europe.

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