OECD economic surveys : Austria 1996-1997 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, issuing body.

Series:

OECD Economic Surveys: Austria

Language:

English

Subjects (All):

Economic history.

Austria--Economic conditions.

Austria.

Physical Description:

1 online resource (212 pages)

Edition:

1st ed.

Place of Publication:

Paris, France : OECD Publishing, [1997]

Language Note:

English

Summary:

Assessment and recommendations I. Recent developments and prospects -Overview -Developments in 1995 and 1996 -Unemployment increases and wage growth slows -Trade balance improves while current account deteriorates -Issues in the present business cycle -The short-term outlook II. Macroeconomic policies -Monetary and exchange rate policies -Fiscal policy III. Public sector reform: the health care issue -Intensified pressures on public spending -Problems with the institutional setting -Physicians, pharmaceuticals and the need for competition -Policy issues IV. Implementing the OECD Jobs Strategy -Introduction -Labour market and employment performance -Policy requirements -Recent policy actions -Assessment and scope for further actions Annexes -I. The Austrian health insurance system -II. Measuring the rate of unemployment -III. Chronology of main economic events Statistical annex and structural indicators.

Contents:

Intro

Table of contents

Assessment and recommendations

I. Recent developments and prospects

Overview

Figure 1. MACROECONOMIC PERFORMANCE

Table 1. Demand and output

Developments in 1995 and 1996

Nature of the slowdown

Figure 2. THE CLIMATE IN THE BUSINESS SECTOR

Recent improvement

Figure 3. INDICATORS OF COMPETITIVENESS

Unemployment increases and wage growth slows

Figure 4. EMPLOYMENT, UNEMPLOYMENT AND THE LABOUR FORCE

Table 2. Wages and prices

Trade balance improves while current account deteriorates

Trade and tourism

Table 3. Current account of the balance of payments

The capital account

Table 4. Capital account of the balance of payments

Issues in the present business cycle

Declining household savings

Figure 5. THE SAVINGS RATIO AND THE BUSINESS CYCLE

Conflicting tendencies in the development of investment

Figure 6. INVESTMENT ACTIVITY

Initial effects of EU accession

Figure 7. DISINFLATION IN THE CONSUMER PRICE INDEX

The short-term outlook

Table 5. Economic projections to 1998

II. Macroeconomic policies

Monetary and exchange rate policies

The downward trend in interest rates and ERM membership

Figure 8. INTEREST RATE DEVELOPMENTS

Box 1. Changes in refinancing facilities and reserve requirements

Implications for monetary aggregates and liquidity

Developments in financial markets

Fiscal policy

The 1995 budget outcome: substantial deterioration

Table 6. The Federal budget

Table 7. Net lending of the general government

Table 8. General government deficit by government level

The fiscal consolidation programme for 1996 and 1997

The new fiscal strategy

The consolidation package for 1996 and 1997

Table 9. The government's consolidation package 1996-1997

Box 2. Expenditure restraint in the 1996-97 consolidation package.

Medium-term fiscal outlook and public debt

Figure 9. THE BUDGET BALANCE AND THE GENERAL GOVERNMENT DEBT

Pension insurance

Box 3. Population ageing and the sustainability of the pension system

Figure B1. PENSION EXPENDITURE SCENARIOS

Improving public sector efficiency

III. Public sector reform: the health care issue

Intensified pressures on public spending

Table 10. Government spending by function

Pressures on health spending

Figure 10. REAL HEALTH SPENDING

Rising relative prices

Figure 11. INTERNATIONAL TRENDS IN RELATIVE HEALTH CARE PRICES

Figure 12. RELATIVE MARKET PRICE LEVELS

Table 11. The growth of nominal health spending

Figure 13. DECOMPOSITION OF THE GROWTH IN HEALTH SPENDING

Table 12. The structure of expenditure on health

Macro-determinants: per capita income and population ageing

Figure 14. HEALTH EXPENDITURE AND GDP PER CAPITA

Figure 15. AVERAGE IN-PATIENT DAYS BY AGE GROUP

Efficiency aspects of the health market

High quality but at high cost

Figure 16. HEALTH EXPENDITURES AND HEALTH OUTCOMES

Figure 17. CHANGES IN HEALTH EXPENDITURES AND IN HEALTH OUTCOMES

Table 13. Health spending by income level

Incentives to over-provision

Table 14. Practising physicians per capita

Table 15. Pharmaceutical costs

Hospital over-supply

Figure 18. PUBLIC HEALTH INVESTMENT

Table 16. Hospital capacity and utilisation

Table 17. Hospital costs

Problems with the institutional setting

The state as a residual source of financing

Hospital financing

Table 18. The distribution of hospital capacity by type and owner

Investment spending

Operating deficits

Table 19. Revenue sources of hospitals

Table 20. Deficit coverage of public hospitals by Land

Effects of the federal fiscal structure

Figure 19. HEALTH EXPENDITURE BY FINAL PAYER.

Table 21. Territorial authorities financing of health expenditure

Physicians, pharmaceuticals and the need for competition

Regulations governing general practices

Restricted entry

Incentive effects of the remuneration system

Pharmaceuticals market

Regulation of distribution

Figure 20. THE SHARES OF REGULATED PHARMACEUTICALS

Price regulations

Figure 21. THE COMPONENTS OF A PHARMACEUTICAL PRICE

Innovation

Policy issues

The 1996 Reform Programme

Box 4. The government's health-care reform proposals

Box 5. Recommendations for the further reform of the Austrian health care system

Demand-side cost sharing

Supply-side cost sharing and hospital reform

Deregulation of the health care and pharmaceuticals markets

The role of the federal government

IV. Implementing the OECD Jobs Strategy

Introduction

Labour market and employment performance

Figure 22. LABOUR MARKET INDICATORS

Figure 23. STRUCTURAL ASPECTS OF THE LABOUR MARKET

Figure 24. REASON FOR LEAVING EMPLOYMENT FOR PERSONS AGED 50 TO 64 YEARS

Figure 25. INCIDENCE AND DURATION OF UNEMPLOYMENT BY AGE GROUP

Table 22. Characteristics of the long-term unemployed

Figure 26. EMPLOYMENT BY SECTOR

Figure 27. FOREIGN AND TOTAL EMPLOYMENT

Policy requirements

Box 6. The OECD Jobs Strategy: a synopsis of recommendations for Austria

Enhancing the ability to adjust and adapt

The wage formation system

Figure 28. REAL WAGE, PRODUCTIVITY AND LABOUR SHARES IN THE BUSINESS SECTOR

Table 23. International comparisons of wage dispersion by branch and sector

Table 24. Wage dispersion corrected for age and human capital of individuals

Figure 29. EARNINGS OF HIGH-PAID MALE WORKERS RELATIVE TO LOW-PAID MALE WORKERS

Box 7. The Chamber (Kammer) system

Figure 30. DECLINING WAGE DRIFT IN INDUSTRY.

Increasing the flexibility of employment and working time

Table 25. Summary of job protection legislation in Europe in the late 1980s

Table 26. Indicators of the "strictness" of employment protection legislation in Europe in the late 1980s

Taxes and transfers

Box 8. The tax/benefits system

Table 27. Unemployment and recipients of income support

Table 28. Unemployment benefit replacement rates by duration of unemployment and family circumstances, 1991

Table 29. Replacement rates for single-earner households, 1994

Table 30. Replacement rates for single-earner households, 1994

Figure 31. NET INCOMES FROM INCREASING WORK EFFORT FOR HOUSEHOLDS ON UNEMPLOYMENT INSURANCE

Figure 32. NET INCOMES FROM INCREASING WORK EFFORT FOR HOUSEHOLDS ON SOCIAL ASSISTANCE

Early retirement

Non-wage costs and social security contributions

Table 31. Structure of labour costs in manufacturing

Figure 33. TAX WEDGES ON WAGES

Active labour market policies

Figure 34. LABOUR MARKET MEASURES

Increasing the knowledge base, efficiency and innovative capacity

Table 32. Factor intensities in manufacturing production and trade

Table 33. Indicators of R&amp

D

Technology and innovation

Upgrading skills and competencies

Product market competition

Figure 35. ELECTRICITY, TELEPHONE AND GAS PRICES FOR INDUSTRY

Recent policy actions

Assessment and scope for further actions

Notes

ANNEXES

Annex I. The Austrian health insurance system

Figure A1. THE AUSTRIAN SOCIAL INSURANCE STRUCTURE

Table A.1. Social insurance funds' financing of health expenditure

Table A.2. Rates of contribution

Table A.3. Coverage and financing by private insurance

Annex II. Measuring the rate of unemployment

Figure A2. DIFFERENT APPROACHES TO MEASURING THE RATE OF UNEMPLOYMENT.

Annex III. Chronology of main economic events

STATISTICAL ANNEX AND STRUCTURAL INDICATORS

Table A. Gross domestic product

Table B. General government income and expenditure

Table C. Output, employment and productivity in industry

Table D. Retail sales and prices

Table E. Money and banking

Table F. The Federal budget

Table G. Balance of payments

Table H. Merchandise trade by commodity group and area

Table I. Labour-market indicators

Table J. Public sector

Table K. Production structure and performance indicators

Table K. Production structure and performance indicators (cont.)

BASIC STATISTICS: INTERNATIONAL COMPARISONS

BASIC STATISTICS: INTERNATIONAL COMPARISONS (cont'd)

MAIN SALES OUTLETS OF OECD PUBLICATIONS / PRINCIPAUX POINTS DE VENTE DES PUBLICATIONS DE L'OCDE

BOXES

Box 2. Expenditure restraint in the 1996-97 consolidation package

TABLES

Table 9. The government's consolidation package 1996-1997.

Table 10. Government spending by function.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-14955-4

OCLC:

1226585574