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Temporary Slowdown in Economic Growth. Economic Outlook for 2001 and 2002


  • Ewald Walterskirchen



The slackening of the business cycle in the USA and the consequences of the rise in oil prices are set to dampen economic growth in the months to come. Following the strong cyclical upturn in 2000 (+3.3 percent), demand and output in Austria are expected to expand by a more moderate 2.6 percent in 2001, before re-gaining momentum in 2002. The somewhat slower pace of activity will still allow unemployment to decline further. Inflation is also likely to abate markedly, if the most recent moves to a downward trend in both oil prices and the dollar exchange rate are confirmed.

Suggested Citation

  • Ewald Walterskirchen, 2001. "Temporary Slowdown in Economic Growth. Economic Outlook for 2001 and 2002," WIFO Monatsberichte (monthly reports), WIFO, vol. 74(1), pages 13-14, January.
  • Handle: RePEc:wfo:monber:y:2001:i:1:p:13-14

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    References listed on IDEAS

    1. Loewenstein, Mark A & Spletzer, James R, 1998. "Dividing the Costs and Returns to General Training," Journal of Labor Economics, University of Chicago Press, vol. 16(1), pages 142-171, January.
    2. Lawrence F. Katz, 1986. "Efficiency Wage Theories: A Partial Evaluation," NBER Chapters,in: NBER Macroeconomics Annual 1986, Volume 1, pages 235-290 National Bureau of Economic Research, Inc.
    3. Burgess, Simon & Knetter, Michael & Michelacci, Claudio, 2000. "Employment and Output Adjustment in the OECD: A Disaggregate Analysis of the Role of Job Security Provisions," Economica, London School of Economics and Political Science, vol. 67(267), pages 419-435, August.
    4. Gary S. Becker, 1975. "Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education, Second Edition," NBER Books, National Bureau of Economic Research, Inc, number beck75-1, January.
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