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Business Cycle Recovery Delayed. Economic Outlook for 2002 and 2003


  • Ewald Walterskirchen



The slide on stock markets has shaken confidence of consumers and business world-wide. The business cycle recovery is thereby being delayed. The Austrian economy is projected to grow by barely 1 percent this year, and by over 2 percent in 2003. The slow pace of activity is causing a sharp rise in unemployment and an overrun in budget deficits. The recovery expected for next year is based on the assumption of a consolidation on stock markets and an unwinding of the negative investment cycle.

Suggested Citation

  • Ewald Walterskirchen, 2002. "Business Cycle Recovery Delayed. Economic Outlook for 2002 and 2003," Austrian Economic Quarterly, WIFO, vol. 7(4), pages 156-166, October.
  • Handle: RePEc:wfo:wquart:y:2002:i:4:p:156-166

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    References listed on IDEAS

    1. Venables, Anthony J, 1996. "Equilibrium Locations of Vertically Linked Industries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(2), pages 341-359, May.
    2. Chonira Aturupane & Simeon Djankov & Bernard Hoekman, 1999. "Horizontal and vertical intra-industry trade between Eastern Europe and the European union," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 135(1), pages 62-81, March.
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