Source: OECD Economic Surveys, Volume 2009, Number 10, June 2009 , pp. i-131(132)

Publisher: OECD - Organisation for Economic Co-operation and Development

Abstract:

This 2009 edition of OECD's periodic survey of Austria's economy includes chapters on the financial crisis, product and labour market reforms, and fiscal policy challenges. The special feature examines re-inventing the education system.

Executive Summary

Assessment and Recommendations

Chapter 1. Facing the Financial Crisis

-A bleak outlook

-Difficult policy challenges

--Easing the monetary stance

--Safeguarding financial stability

--Fiscal stabilisation

Chapter 2. Lifting Potential Growth through Further Product and Labour Market Reforms

-Productivity growth has picked up, but the business environment could be more supportive

-Labour utilisation is high but some weaknesses persist among vulnerable groups

-Policy recommendations

-Annex 2.A1. Government follow-ups to past OECD recommendations

-Annex 2.A2. Financial and administrative incentives for labour market participation

Chapter 3. Medium-Term Fiscal Policy Challenges

-Institutional context and recent reforms

-Fiscal consolidation challenges

-Risks to long-term sustainability

-Strengthening fiscal structures and institutions

-Policy recommendations

Chapter 4. Re-inventing the Education System

-A successful education system facing crucial challenges

-Important education policy initiatives were launched in recent years

-Full implementation of reforms requires further systemic changes

-Policy recommendations

-Annex 4.A1. Austria's education system

Document Type: Review article

Publication date: 2009-06-01

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