Publications of the Economic Analysis and Research Department Oesterreichische Nationalbank 2017 Albacete, N., Lindner, P. (2017). How strong is the monetary policy transmission channel of wealth effects in Austria? A microeconomic analysis based on household-level data. Monetary Policy & the Economy Q2/17, OeNB. Ambler, S., Rumler, F. (2017). The Effectiveness of Unconventional Monetary Policy in the Euro Area: An Event and Econometric Study. OeNB Working Paper 212. Barisitz, S., Breitenfellner, A. (2017). How do Resource-driven Economies Cope with the Oil Price Slump? A Comparative Survey of Ten Major Oil-exporting Countries. Focus on European Economic Integration Q1/17, OeNB, 33–53. Beckmann, E. (2017). How does foreign currency debt relief affect households’ loan demand? Evidence from the OeNB Euro Survey in CESEE. Focus on European Economic Integration Q1/17, OeNB, 8–32. Beer, C., Belabed, C.A., Breitenfellner, A., Ragacs, C., Weber, B. (2017). Österreich und die europäische Integration. https://www.oenb.at/Publikationen/OesterreichischeNationalbank/oesterreich-und-die-europaeische-integration.html und Monetary Policy & the Economy Q1/17, OeNB, 86–125. Beer, C., Waschiczek, W. (2017). What is the financial sector’s contribution to the Austrian economy? Monetary Policy & the Economy Q2/17, OeNB. Belabed, C.A., Theobald, T., van Treeck, T. (2017). Income Distribution and Current Account Imbalances. Cambridge Journal of Economics, forthcoming, refereed. Belabed, C.A. (2017). Income Distribution, the Great Depression, and the Relative Income Hypothesis. European Journal of Economics and Economic Policies, refereed, DOI: http://dx.doi.org/10.4337/ejeep.2017.00023. Belabed, C.A. (2017). Abwärtsrisiken für Wachstum in den Industrieländern gestiegen. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, January, 6–10. Eller, M., Feldkircher, M., Huber, F. (2017). How Would a Fiscal Shock in Germany Affect other European Countries? Evidence from a Bayesian GVAR Model with Sign Restrictions. Focus on European Economic Integration Q1/17, OeNB, 54–77. Fadejeva, L., Feldkircher, M., Reininger, T. (2017). International Spillovers from Euro Area and US Credit and Demand Shocks: A Focus on Emerging Europe. Journal of International Money and Finance, 70, February, 1–25, refereed. Fenz, G., Holler, J. (2017). Variable Rate debt to Insure the Government Budget against Macroeconomic Shocks. Studie im Auftrag des Fiskalrates. Vienna. Fenz, G., Schneider, M. (2017). Economic upturn fueled by investment and consumer spending – Economic outlook for Austria from 2016 to 2019 (December 2016). Monetary Policy & the Economy Q1/17, OeNB, 6–32.

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Fenz, G., Schneider, M. (2017). Transmissionseffekte der deutschen Nachfrage auf das österreichische Wirtschaftswachstum. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, March, 35–38. Fessler, P., List, E., Messner, T. (2017). How financially vulnerable are CESEE households? An Austrian perspective on its neighbors. Focus on European Economic Integration Q2/17, OeNB, 58–79. Fessler, P., Schürz, M. (2017). Zur Mitte in Österreich. In: Sozialbericht des BMASK. 2017. Fritzer, F., Scheiber, T. (2017). Inflation aktuell. Die Inflationsanalyse für Österreich. OeNB, Q4/16. Fritzer, F., Rumler, F., Waschiczek, W. (2017). Inflation aktuell. Die Inflationsanalyse für Österreich. OeNB, Q1/17. Gaggl, P., Valderrama, M.T. (2017). Do Banks Take Unusual Risks When Interest Rates are Expected to Stay Low for a Long Time? Macroeconomic Dynamics, forthcoming, refereed. Grossmann, B. (2017). Paktum Finanzausgleich 2017–2021 im Spiegel aktueller Empfehlungen des Fiskalrates. In: Bauer, H., Biwald, P. und K. Mitterer (eds). Finanzausgleich 2017: Ein Handbuch. Mit Kommentar zum FAG 2017. KDZSchriftenreihe Öffentliches Management und Finanzwirtschaft, Band 19, 378–380. Vienna. Grossmann, B. (2017). Subsektorale Fiskalregeln in Österreich: Problemfelder und Gestaltungsoptionen. In: WKO (eds). Wirtschaftspolitische Blätter 2/2017, Staatsverschuldung und Fiskalpolitik. Vienna. Grossmann, B., Schuster, P. (2017). Langzeitpflege in Österreich: Determinanten der staatlichen Kostenentwicklung. Studie im Auftrag des Fiskalrates. Vienna. Hauth, E., Maidorn, S. (2017). Operative Stärken und Schwächen der EU-weiten Fiskalregeln. In: WKO (eds). Wirtschaftspolitische Blätter 2/2017, Staatsverschuldung und Fiskalpolitik. Vienna. Hildebrandt, A. (2017). CESEE-Wirtschaftsaufschwung getrieben von Investitionen und Wachstums-Comeback in Russland – OeNB-BOFIT-Prognose für ausgewählte CESEELänder. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, May, 12–16. Holler, J., Reiss, L. (2017). Das österreichische Bankenpaket und die Staatsfinanzen. In: WKO (eds). Wirtschaftspolitische Blätter 2/2017, Staatsverschuldung und Fiskalpolitik. Vienna. Huber, F., Feldkircher, M. (2017). Adaptive Shrinkage in Bayesian Vector Autoregressive Models. Journal of Business & Economic Statistics, forthcoming, refereed. Hubmann, G. (2017). Konjunkturaufschwung erhöht die Nachfrage nach Unternehmenskrediten – Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft vom Jänner 2017. Statistiken – Daten & Analysen, Q1/17, OeNB, 19– 27. Hubmann, G. (2017). Kreditnachfrage erneut gestiegen – Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft vom April 2017. Statistiken – Daten & Analysen, Q2/17, OeNB, 54–64. Knell, M. (2017). The Return on Social Security with Increasing Longevity. Macroeconomic Dynamics 21(2), 462–487.

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Knell, M. (2017). Increasing Life Expectancy and NDC Pension Systems. Journal of Pension Economics and Finance, DOI: https://doi.org/10.1017/S1474747216000226 . Köhler-Töglhofer, W., Url, T., Glauninger, U. (2017). Revised competitiveness indicators for Austria reflect a comparatively stable competitiveness development of the Austrian economy over the longer horizon, Monetary Policy & the Economy Q2/17, OeNB. Messner, T. (2017). Weltkonjunktur: Dynamik trotz struktureller Probleme. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, May, 6–11. Messner, T., Ramskogler, P. (2017). Leistungsbilanzsalden und Lohnstückkostenentwicklung in den Euroraumländern – Trends, Ursachen und Auswirkungen auf die Nachhaltigkeit des Euroraums. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, March, 39–44. Ragacs, C. (2017). Überblick. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, January, 5. Ragacs, C. (2017). Überblick. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, May, 5. Ragacs, C., Vondra, K. (2017). Österreich: Konjunktur entwickelt sich sehr dynamisch, Inflation bleibt über 2%. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, May, 17–20. Ragacs, C., Vondra, K. (2017). Wirtschaftswachstum beschleunigt sich 2017 – Arbeitslosigkeit sinkt. Gesamtwirtschaftliche Prognose für Österreich 2017 bis 2019 vom Juni 2017. Monetary Policy & the Economy Q2/17, OeNB. Raggl, A.K. (2017). Rücküberweisungen von Migranten und Migrantinnen nach CESEE sind von hoher volkswirtschaftlicher Bedeutung für die Herkunftsländer. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, March, 45–50. Raggl, A.K. (2017). The relevance of remittance inflows to CESEE countries: evidence from macro- and micro-level data. Focus on European Economic Integration Q2/17, OeNB, 80–102. Rumler, F., Waschiczek, W. (2017). Einlagenzinsen unter der Inflationsrate – keine Besonderheit in historischer Perspektive. Inflation aktuell Q1/17, 9. Rusu, C., Stix, H. (2017). Von Bar- und Kartenzahlern – Aktuelle Ergebnisse zur Zahlungsmittelnutzung in Österreich. Monetary Policy & the Economy Q1/17, OeNB, 54–85. Scheiber, T. (2017). Ungewisse Aussichten für die Weltkonjunktur. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, March, 6–11. Schneider, M. (2017). Überblick. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, March, 5. Schneider, M., Fritzer, F. (2017). Österreich: Wirtschaft startet vielversprechend ins Jahr 2017. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, March, 14–17. Schreiner, J. (2017). EU-Mitgliedstaaten in Zentral-, Ost- und Südosteuropa: Leichte Wachstumsabschwächung im dritten Quartal 2016. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, January, 11–13. Schreiner, J. (2017). EU-Mitgliedstaaten in Zentral-, Ost- und Südosteuropa: Deutlich stärkeres Wachstum zum Jahresende. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, March, 12–13.

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Vondra, K. (2017). Österreich: Deutliche Verbesserung von Vertrauensindikatoren gegen Jahresende 2016. Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, January, 14–18. Wagner, K., Mundt, A. (2017). Regionale Wohnungspreisindizes in Österreich – erste Erkenntnisse auf Basis hedonischer Modelle. Statistiken – Daten & Analysen, Q1/17, OeNB, 28–47.

20161 Albacete, N., Fessler, P., Lindner, P. (2016). The Distribution of Residential Property Price Changes across Homeowners and its Implications for Financial Stability in Austria. Financial Stability Report 31, OeNB, 62–81. Andreasch, M., Lindner, P. (2016). Micro- and Macrodata: A Comparison of the Household Finance and Consumption Survey with Financial Accounts in Austria. Journal of Official Statistics, 32(1), 2016, 1–28, refereed. Arrondel, L., Bartiloro, L., Fessler, P., Lindner, P., Mathä, T. Y. Rampazzi, C., Savignac, F., Schmidt, T., Schürz, M., Vermeulen, P. (2016). How do Households Allocate their Assets? Stylised Facts from the Eurosystem Household Finance and Consumption Survey. International Journal of Central Banking, 12(2), refereed. Attinasi, M., Borgy, V., Bouabdallah, O., Checherita-Westphal, C., Freier, M., Palaiodimso, G., Prammer, D., Tommasiono, P., Zimmer, J. (2016). The Effect of Low Inflation on Public Finances. In: Momigliano, S. (ed.), Beyond the Austerity Dispute: New Priorities for Fiscal Policy. Workshop and Conferences 20, Bank of Italy, Economic Research Department. Attinasi, M., Prammer, D., Stähler, N., Tass, M., van Parys, S. (2016). Budget-Neutral Labour Tax Wedge Reductions: A Simulation-Based Analysis for Selected Euro Area Countries. Deutsche Bundesbank, Discussion Paper No. 26/2016. Bagnall, J., Bounie, D., Huynh, K.P., Kosse, A., Schmidt, T., Schuh, S., Stix, H. (2016). Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data. International Journal of Central Banking, 12(4), refereed. Barisitz, S. (2016.) Belarus in recession, banking sector in difficulties – Russia to the rescue. Focus on European Economic Integration, Q3/16, OeNB, 41–49. Beer, C., Birchler, U.W., Gnan, E. (eds) (2016). Cash on Trial. SUERF Conference Proceedings 2016/1. Beer, C., Birchler, U.W., Gnan, E. (2016). Introduction. In: Birchler, U.W. and Gnan, E. (eds). Cash on Trial. SUERF Conference Proceedings 2016/1, 5–13. Beer, C., Gnan, E., Ritzberger-Grünwald, D. (2016). Saving, Portfolio and Loan Decisions of Households when Interest Rates are Very Low – Survey Evidence for Austrian Households. Monetary Policy & the Economy Q1/16, OeNB, 14–32. Beer, C., Gnan, E., Valderrama, M.T. (2016). A (Not So Brief) History of Inflation in Austria. Monetary Policy & the Economy Q3-4/16, OeNB, 6–32. Beer, C., Gnan, E., Valderrama, M.T. (2016). Die wechselvolle 200-jährige Geschichte der Inflation in Österreich. In: Inflation aktuell. Die Inflationsanalyse für Österreich. Q3/2016, OeNB.

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Studies published in Monetary Policy & the Economy and Focus on European Economic Integration, OeNB, are refereed.

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Belabed, C.A. (2016). Inequality and the New Deal. IMK Working Paper 166, Institut für Makroökonomie und Konjunkturforschung Düsseldorf. Benkovskis, K., Wörz, J. (2016). Nonprice Components of Market Share Gains – Evidence for EU Countries. In: Belka, M., Nowotny, E., Ritzberger-Grünwald, D., Samecki, P. (eds). Boosting European Competitiveness: The Role of the CESEE Countries, Edward Elgar. Berger, J., Davoine, T., Schuster, P., Strohner, L. (2016). Cross-Country Differences in the Contribution of Future Migration to Old-Age Financing. International Tax and Public Finance, 23, 1160–1184, refereed. Cuaresma, J.C., G., Feldkircher, M., Huber, F. (2016). Forecasting with Global Vector Autoregressive Models: A Bayesian Approach. Journal of Applied Econometrics, 31(7), 1371–1391, refereed. Cuaresma, J.C., Doppelhofer, G., Feldkircher, M., Huber, F. (2016). US Monetary Policy in a Globalized World. OeNB Working Paper No. 205. Dovern, J., Feldkircher, M., Huber, F. (2016). Does Joint Modelling of the World Economy Pay Off? Evaluating Multivariate Forecasts from a Bayesian GVAR. Journal of Economic Dynamics and Control, 70, 86–100, refereed. Eller, M., Fidrmuc, J., Fungáčová, Z. (2016). Fiscal Policy and Regional Output Volatility: Evidence from Russia. Regional Studies, Regional Studies 50(11), 1849– 1862, refereed. Eller, M., Huber, F., Schuberth, H. (2016). Weathering Global Shocks and Macrofinancial Vulnerabilities in Emerging Europe: Comparing Turkey and Poland. Focus on European Economic Integration, Q1/16, OeNB, 46–65. Eller, M., Huber, F., Schuberth, H. (2016). Understanding the Drivers of Capital Flows into the CESEE Countries. Focus on European Economic Integration, Q2/16, OeNB, 79–104. Eller, M., Reininger, T. (2016). The Influence of Sovereign Bond Yields on Bank Lending Rates: The Pass-Through in Europe. Focus on European Economic Integration, Q2/16, OeNB, 54–78. Elsinger, H., Schmidt-Dengler, P., Zulehner, C. (2016). Competition in Treasury Auctions. OeNB Working Paper No. 206. Elsinger, H., Köck, R., Kropp, M., Waschiczek, W. (2016). Corporate Financing in Austria in the Run-Up to Capital Markets Union. Financial Stability Report 31, OeNB, 96–119. Elsinger, H., Köck, R., Kropp, M., Waschiczek, W. (2016). Unternehmensfinanzierung in Österreich im Vorfeld der Kapitalmarktunion. In: Wirtschaftspolitische Blätter 2. Feldkircher, M., Huber, F., Moder, I. (2016). Modeling the Evolution of Monetary Policy Rules in CESEE. Focus on European Economic Integration, Q1/16, OeNB, 8–27. Feldkircher, M., Huber, F. (2016). The International Transmission of US Shocks – Evidence from Bayesian Global Vectorautoregressions. European Economic Review, 81, 167–188, refereed. Feldkircher, M., Huber, F. (2016). Unconventional US Monetary Policy: New Tools, Same Channels? OeNB Working Paper No. 208. Fenz, G., Rumler, F. (2016). Austrian Economy Fueled by Growth Stimuli, Yet Fraught with External Risks. Monetary Policy & the Economy Q1/16, OeNB, 6–13. Fessler, P., Lindner, P., Schürz, M. (2016). Eurosystem Household Finance and Consumption Survey des Eurosystems 2014: Erste Ergebnisse für Österreich (zweite Welle). Monetary Policy & the Economy Q2/16, OeNB, 34–95.

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Fessler, P., Rehm, M., Tockner, L. (2016). The Impact of Housing Non-Cash Income on the Unconditional Household Income Distribution. Urban Studies, 53 (13), 2849–2866, July. Fessler, P., Schürz, M. (2016). Wie geht es Haushalten mit Kindern in Österreich? In: Wie geht’s Österreich? Statistik Austria, 197–206. Fritzer, F., Rumler, F. (2016). Inflation aktuell. Die Inflationsanalyse für Österreich, Q1/2016, OeNB. Fritzer, F., Rumler, F. (2016). Inflation aktuell. Die Inflationsanalyse für Österreich, Q2/2016, OeNB. Fritzer, F., Rumler, F. (2016). Inflation aktuell. Die Inflationsanalyse für Österreich, Q3/2016, OeNB. Fritzer, F., Ragacs, C., Vondra, K. (2016). Österreich: Keine konjunkturellen Überraschungen zum Jahreswechsel. Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, January, 14–18. Furlan, B., Gächter, M., Krebs, B., Oberhofer, H. (2016). Democratization and Real Exchange Rates. Scottish Journal of Political Economy, 63(2), 216–242, refereed. Gächter, M., Ramskogler, P., Riedl, A. (2016). The trinity of wage setting in EMU: a policy proposal. Proceedings of OeNB Workshops No. 21, 177–200. Gnan, E., Kronberger, R. (eds) (2016). Schwerpunkt Außenwirtschaft 2015/2016. Transatlantische Handels- und Investitionspartnerschaft zwischen der EU und den USA (RRIP). Facultas, Vienna. Gnan, E., Kronberger, R. (eds) (2016). Editorial: Österreichs schwaches Wachstum wirft Fragen zur internationalen Wettbewerbsfähigkeit auf – schwierige Verhandlungen um TTIP. In: Schwerpunkt Außenwirtschaft 2015/2016. Transatlantische Handels- und Investitionspartnerschaft zwischen der EU und den USA (RRIP). Facultas, Vienna. Gnan, E., Masciandaro, D. (eds) (2016). Central Banking and Monetary Policy: what will be the post-crisis new normal? A joint publication with the BAFFI CAREFIN Centre, Bocconi University. SUERF Conference Proceedings 2016/4. Greimel-Fuhrmann, B., Silgoner, M., Weber, R., Taborsky, M. (2016). Financial Literacy in Austria. In: Aprea, C., Wuttke, E., Breuer, K., Koh, N.K., Davies, P., Greimel-Fuhrmann, B., Lopus, J.S. (eds) (2016). International Handbook of Financial Literacy. Springer Singapore, Chapter 16. 251–262. Grossmann, B., Hauth, E., Maidorn, S. (2016). Komplexität der EU-weiten Fiskalregeln und Gestaltungsoptionen für die subsektorale Anwendung in Österreich. Vienna, June. Havrlant, D., Tóth, P., Wörz, J. (2016). On the optimal number of indicators – nowcasting GDP growth in CESEE. Focus on European Economic Integration, Q4/16, OeNB, 54–72. Holler, J., Schuster, P. (2016). Langfristeffekte der Flüchtlingszuwanderung 2015 bis 2019 nach Österreich. Vienna, October. Huber, F., Feldkircher, M. (2016). Adaptive Shrinkage in Bayesian Vector Autoregressive Models. WU Working Paper Series, 221/2016. Huber, F., Kastner, G., Feldkircher, M. (2016). Should I Stay or Should I Go? Bayesian Inference in the Threshold Time Varying Parameter (TTVP) Model. WU Working Paper, Department of Mathematics and Statistics, 130/2016. Hubmann, G. (2016). Kreditvergabeverhalten der österreichischen Banken unverändert – Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft vom Jänner 2016. Statistiken – Daten & Analysen, Q1/16, OeNB, 32–40.

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Hubmann, G. (2016). Refinanzierung für österreichische Banken zum wiederholten Mal erschwert. Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft vom April 2016. Statistiken – Daten & Analysen, Q2/16, OeNB, 30–43. Hubmann, G. (2016). Günstiges Zentralbankgeld belebt die Kreditvergabe der Banken – Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft vom Juli 2016. Statistiken – Daten & Analysen, Q3/16, OeNB, 40–49. Jobst, C., Kernbauer, H. (2016). Die Bank. Das Geld. Der Staat. Nationalbank und Währungspolitik in Österreich 1816–2016. Campus Verlag. Jobst, C., Kernbauer, H. (2016). The Quest for Stable Money. Central Banking in Austria, 1816—2016. Campus Verlag GmbH, Frankfurt-on-Main. Jobst, C., Rieder, K. (2016). Principles, Circumstances and Constraints: the Nationalbank as Lender of Last Resort from 1816 to 1931. Monetary Policy & the Economy Q3–4/16, OeNB,140–162. Jobst, C., Stix, H. (2016). Florin, Crown, Schilling and Euro: An Overview of 200 Years of Cash in Austria. Monetary Policy & the Economy Q3–4/16, OeNB,94–119. Jobst, C., Ugolini, S. (2016). The Coevolution of Money Markets and Monetary Policy, 1815–2008. In: Bordo, M. et al. (eds). Central Banks at a Crossroads: What Can We Learn from History? Cambridge University Press, refereed. Knell, M. (2016). Grundlagen eines soliden und solidarischen Pensionskontensystems, Wirtschaft und Gesellschaft, 2016(3), 465–496. Lommatzsch, K., Ramskogler, P., Silgoner, M. (2016). Trade in Value Added: Do We Need New Measures of Competitiveness? ECB Working Paper 1936. Maidorn, S. (2016). Is There a Trade a Trade-Off Between Procyclicality and Revisions in EC Trend TFP Estimations? Empirica, DOI: 10.1007, refereed. Metz, V., Richter, K., Weiss, P., Rottensteiner, B., Unterkofler, D., Langthaler, J., Pechmann, P. (2016). Minimum Requirement for Own Funds and Eligible Liabilities (MREL) – Initial Assessment for Austrian Banks and Selected Subsidiaries in the EU. Financial Stability Report 31, OeNB, 82–95. Niemann, S., Pichler, P. (2016). Collateral, Liquidity and Debt Sustainability. The Economic Journal, DOI: 10.1111/ecoj.12384, refereed. Pigrum, C., Reininger, T., Stern, C. (2016). Bail-in: who invests in noncovered debt securities issued by euro area banks? Financial Stability Report 32, OeNB, 101–119 Prammer, D., Reiss, L. (2016). The Stability and Growth Pact since 2011: More Complex – but also Stricter and Less Procyclical? Monetary Policy & the Economy Q1/16, OeNB, 33–53. Prammer, D., Reiss, L., Köhler-Töglhofer, W. (2016). The Financial Relations between the Nationalbank and the Government. Monetary Policy & the Economy Q3–4/16, OeNB, 77–93. Ragacs, C., Vondra, K. (2016). Economic Recovery in 2016 after Four Years of Weak Growth – Economic Outlook for Austria from 2016 to 2018 (June 2016). Monetary Policy & the Economy Q2/16, OeNB, 6–31. Ragacs, C., Vondra, K. (2016). Österreichs Wirtschaftsentwicklung, preisliche Wettbewerbsfähigkeit und Überblick über die Außenwirtschaft. In: Gnan, E., Kronberger, R. (eds) (2016). Schwerpunkt Außenwirtschaft 2015/2016. Transatlantische Handels- und Investitionspartnerschaft zwischen der EU und den USA (RRIP). Facultas, Vienna, 83–104.

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Raggl, A.K. (2016). Globale Unsicherheiten schwächen nach wie vor das Wachstum im Euroraum. In: Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, November, 6–11. jamskogler, P. (2016). Alternative Wirtschaftspolitik und die Rolle der OECD. In: Kappeler, J. Pühringer, S., Hirte, K., Ötsch, W. (eds). Ökonomie! Welche Ökonomie? Metropolis Verlag, Marburg. Ramskogler, P., Schuberth, H. (2015). Is there a German Model? In: Unger, B. (eds). The German Model – Seen by its Neighbours. SE Publishing. Reuter, W.H. (2016). Design of fiscal frameworks and compliance with fiscal rules in CESEE. Focus on European Economic Integration, Q3/16, OeNB, 29–40. Rülke, J.-C., Silgoner, M., Wörz, J. (2016). Herding Behavior of Business Cycle Forecasters. International Journal of Forecasting, 32, 23–33, refereed. Raunig, B. (2016). Background Indicators. OeNB Working Paper No. 204. Raunig, B., Scharler, F., Sindermann, F. (2016). Do Banks Lend Less in Uncertain Times? Economica, DOI: 10.1111/ecca.12211, refereed. Ritzberger-Grünwald, D., Stiglbauer, A., Waschiczek, W. (2016). Banking employment in Austria. Financial Stability Report 32, OeNB, 80–100. Rumler, F., Waschiczek, W. (2016). Have Changes in the Financial Structure Affected Bank Profitability? Evidence for Austria. The European Journal of Finance 22 (10), 803–824, refereed. Scheiber, T. (2016). Währungssubstitution in CESEE: Warum private Haushalte Zahlungen in Euro bevorzugen? Konjunktur aktuell – Dezember 2016, OeNB, 54–59. Scheiber, T., Stern, C. (2016). Currency substitution in CESEE: why do households prefer euro payments? Focus on European Economic Integration, Q4/16, OeNB, 73-98. Scheiber, T., Silgoner, M., Stern, C. (2016). The development of bank profitability in Denmark, Sweden and Switzerland during a period of ultra-low and negative interest rates. Focus on European Economic Integration, Q3/16, OeNB, 8–28. Schneider, M. (2016). Überblick. Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, January, 5. Schöffmann, S., Wörz, J. (2016). Aktuelle Entwicklung der Weltwirtschaft und des Welthandels. In: Gnan, E., Kronberger, R. (eds) (2016). Schwerpunkt Außenwirtschaft 2015/2016. Transatlantische Handels- und Investitionspartnerschaft zwischen der EU und den USA (RRIP). Facultas, Vienna, 33–56. Schreiner, J. (2016). EU-Mitgliedstaaten in Zentral-, Ost- und Südosteuropa: Anhaltend robuste Konjunktur. Konjunktur aktuell – Berichte und Analysen zur wirtschaftlichen Lage. OeNB, January, 11–13. Silgoner, M., Ritzberger-Grünwald, D., Vondra, K. (2016). New indicators of competitiveness – the Austrian perspective, In: Belka, M., Nowotny, E., Samecki, P., Ritzberger-Grünwald,D. (eds) (2016). Boosting European Competitiveness – The Role of CESEE Countries. Edward Elgar, UK, 39–47. Stiglbauer, S. (2016). Dienstleistungsinflation und Arbeitskosten. Inflation aktuell Q1/16, OeNB, 9–13.

2015 Albacete, N., Lindner, P. (2015). Foreign Currency Borrowers in Austria – Evidence from the Household Finance and Consumption Survey. Financial Stability Report 29, OeNB, 93–109.

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Albacete, N., Schürz, M. (2015). Interviewereffekte auf Haushaltsvermögen am Beispiel des Household Finance and Consumption Survey Austria 2010. Statistiken – Daten & Analysen, Q4/15, OeNB, 55–63. Al-Haschimi, A., Skudelny, F., Vaccharino, E., Wörz, J. (2015). The Trade and Demand Nexus: Do Global Value Chains Matter? In: Baldwin, R. and Di Mauro, F. (eds). Europe in the Age of Global Value Chains: Maps and Policy Issues, VoxEU eBook, 132–147, http://voxeu.org/content/age-global-value-chains-maps-and-policy-issues Amann W., Wagner K. (2015). Austrian Housing and Mortgage Markets. EMF Hypostat, European Mortgage Federation (EMF). Andreasch, M., Fessler, P., Schürz, M. (2015). Financing the Austrian Economy – A Bird’s Eye View Based on Financial Accounts from 1995 to 2014 and a Look at the Road Ahead. Monetary Policy & the Economy Q4/15, OeNB, 55–73. Andreasch et al. (2015.) Kreditbericht. Juni. Andreasch, M., Lindner, P. (2015). Micro and Macro Data: A Comparison of the Household Finance and Consumption Survey with Financial Accounts in Austria. Journal of Official Statistics, 32 (1), 1–28, refereed. Barisitz, S. (2015). The Russian Banking Sector – Heightened Risks in a Difficult Environment. Financial Stability Report 30, OeNB, 71–84. Barisitz, S., Fungáčová, Z. (2015). Ukraine: Struggling Banking Sector Amid Substantial Uncertainty. Financial Stability Report 29, OeNB, 72–92. Beck, R., Beirne, J., Paternò, F., Peeters, J., Ramos-Tallada, J., Rebillard, C., Reinhardt, D., Wörz, J. (2015). The Side Effects of National Financial Sector Policies: Framing the Debate on Financial Protectionism. Occasional Paper No. 166, European Central Bank (ECB), September, refereed. Beckmann, E., Stix, H. (2015). Foreign Currency Borrowing and Knowledge About Exchange Rate Risk. Journal of Economic Behavior & Organization 112, 1–16, refereed. Beckmann, E., Hildebrandt, A., Jäger-Gyovai, K. (2015). Current Risks in the CESEE Residential Property Market: Evidence from the OeNB Euro Survey. Focus on European Economic Integration Q3/15, OeNB, 26–38. Beckmann, E., Roitner, A., Stix, H. (2015). A Local or a Foreign Currency Loan? Evidence on the Role of Loan Characteristics, Preferences of Households and the Effect of Foreign Banks. Focus on European Economic Integration, Q1/15, OeNB, 24–48. Beer, C., Gnan, E. (2015). Implications of Ultra-low Interest Rates for Financial Institutions’ Asset Liability Management – A Policy-oriented Overview. Monetary Policy & the Economy Q2/15, OeNB, 52–77. Beer, C., Gnan, E. (2015). Asset-liability Management with Ultra-low Interest Rates. BankArchiv, August. 584-586. Beer, C., Gnan, E. (2015). Asset-liability Management with Ultra-low Interest Rates – Insights from a conference jointly organized by SUERF, the OeNB and the Austrian Society for Bank Research (Editorial). Proceedings of OeNB Workshops No. 20, OeNB. Beer, C., Gnan, E. Ritzberger, D. (2015). Asking About Interest Rates: Survey Evidence on Austrian Households’ Interest Rate Perceptions and Expectations. Monetary Policy & the Economy Q4/15, OeNB, 31–54. Beer, C., Birchler, U.W., Gnan, E.. (2015). Cash without Future? Future without Cash? A Wider View. SUERF Policy Note Issue No 3, December 2015.

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Benkovskis, K., Wörz, J. (2015). A Summary Measure for Price and Non-Price Competitiveness for ASEAN+3. Asian Journal of Economics, 29(2), 165–180, refereed. Benkovskis, K., Wörz, J. (2015). Cost Competitiveness: A Dangerous Obsession. VoxEU article, February 24, 2015. Benkovskis, K., Wörz, J. (2015). The Interpretation of Changes in Global Market Shares: Adding the Global Value Chain Dimension. In: Baldwin, R. and Di Mauro, F. (eds). Europe in the Age of Global Value Chains: Maps and Policy Issues, VoxEU eBook, 148–162, http://voxeu.org/content/age-global-value-chains-maps-and-policy-issues. Benkovskis, K., Wörz, J. (2015). Non-Price Competitiveness of Exports from Emerging Countries. Empirical Economics, DOI 10.1007/s00181-015-1015-y, refereed. Breitenfellner, A., Crespo Cuaresma, J., Mayer, P. (2015). Energy Inflation and House Price Corrections. Energy Economics, 48, 109–116. Breitenfellner, A., Veselý, L. (2015). Toward a Genuine Economic and Monetary Union. Workshop hosted by the OeNB in Vienna on September 10 and 11, 2015. Focus on European Economic Integration Q4/15, OeNB, 100–110. Breitenlechner, M., Gächter, M., Sindermann, F. (2015). The Finance-Growth Nexus in Crisis. Economics Letters, 132, 31–33, refereed. Breuer, T., Jandačka, M., Vollbrecht, H. J., Summer, M. (2015). Endogenous Leverage and Asset Pricing in Double Auctions. Journal of Economic Dynamics and Control, 144–160, refereed. Brown, M., Stix, H. (2015). The Euroization of Bank Deposits in Eastern Europe. Economic Policy, 81, 95–139, refereed. Brown, M., Stix, H. (2015). The Euroization of Bank Deposits in Eastern Europe. OeNB Working Paper No. 197. Brunner, M., Knollmayer, A., Wörz, J. (2015). Aktuelle Entwicklung der Weltwirtschaft und des Welthandels. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2014/2015 – Produktivität im Dienstleistungssektor und Außenwirtschaft. Facultas, Vienna, 21–46. Ciccarelli, M., Ortega, E., Valderrama, M.T. (2015). Commonalities and Cross-Country Spillovers in Macroeconomic-financial Linkages. BE Journal of Macroeconomics, 16, 231–275, refereed. Dovern, J., Feldkircher, M., Huber, F. (2015). Does Joint Modelling of the World Economy Pay Off? Evaluating Multivariate Forecasts from a Bayesian GVAR. OeNB Working Paper No. 200. Fadejeva, L., Feldkircher, M., Reininger, T. (2015). Spillovers from Euro Area and U.S. Credit and Demand Shocks: Comparing Emerging Europe on the Basis of a GVAR Model. OeNB Working Paper No. 198. Feldkircher, M., Huber, F., Schreiner, J., Tirpák, M., Tóth, P., Wörz, J. (2015). Bridging the Information Gap: Small-Scale Nowcasting Models of GDP for Selected CESEE Countries. Focus on European Economic Integration Q2/15, 56–75. Feldkircher, M., Huber, F., Moder, I. (2015). Towards a New Normal How Different Paths of US Monetary Policy Affect the World Economy, Economic Notes, 44 (3), 409–418, refereed. Feldkircher, M., Huber, F., Moder, I. (2015). The World When the Fed Raises Rates. Project Syndicate Article, Sep 10, 2015. Feldkircher, M. (2015). A Global Macro Model for Emerging Europe. Journal of Comparative Economics, 43 (3), 706–726, refereed.

Economic Analysis and Research Department – Publications

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Fenz, G. (2015). Österreichs Wirtschaft wächst 2016 und 2017 so stark wie jene des Euroraums. Gesamtwirtschaftliche Prognose für Österreich 2015 bis 2017 vom Dezember 2015. Monetary Policy & the Economy Q4/15, OeNB. Fenz, G., C. Ragacs, M. Schneider, K. Vondra, Waschiczek, W. (2015). Causes of Declining Investment Activity in Austria. Monetary Policy & the Economy Q3/15, OeNB, 12–34. Fessler, P., Schürz, M. (2015). Private Wealth Across European Countries: The Role of Income, Inheritance and the Welfare State. ECB Working Paper Series, 1847. Fessler, P., Rehm, M., Tockner, L. (2015). The Impact of Housing Non-Cash Income on the Unconditional Household Income Distribution. Urban Studies, ECB Working Paper Series, 1718, refereed. Fessler, P., Jäger-Gyovai, K., Messner, T. (2015). What Can We Learn from Eurosystem Household Finance and Consumption Survey Data? – An Application to Household Debt in Slovakia. Focus on European Economic Integration Q2/15, 76–87. Fritzer, F. (2015). Rohstoffpreise und heimische Faktoren beschleunigen die österreichische HVPI-Inflation bis 2017 auf 2,0%. In: Konjunktur Aktuell, Juni 2015, 48-52. Fritzer, F. (2015). Österreich: Wirtschaft wächst derzeit nur schwach. In: Konjunktur Aktuell, September 2015, 13-17. Fritzer, F. (2015). Österreich: Wachstum bleibt unter Euroraum-Durchschnitt. In: Konjunktur Aktuell, Oktober 2015, 14-19. Fritzer, F. (2015). Österreich: Wachstum im dritten Quartal im Euroraumdurchschnitt. In: Konjunktur Aktuell, Dezember 2015, 14-17. Fritzer, F., Rumler, F. (2015). Inflation aktuell. Die Inflationsanalyse für Österreich, Q1/2015. Fritzer, F., Rumler, F. (2015). Inflation aktuell. Die Inflationsanalyse für Österreich, Q2/2015. Fritzer, F., Rumler, F. (2015). Inflation aktuell. Die Inflationsanalyse für Österreich, Q3/2015. Fritzer, F., Rumler, F. (2015). Determinants of Inflation Perceptions and Expectations: An Empirical Analysis for Austria. Monetary Policy & the Economy Q1/15, OeNB, 11– 26. Fritzer, F., Rumler, F. (2015). Dienstleistungsinflation: Entwicklung im internationalen Vergleich, Ursachen und mögliche Folgen für die Wettbewerbsfahigkeit. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2014/2015 – Produktivität im Dienstleistungssektor und Außenwirtschaft. Facultas, Vienna, 167–179. Gächter, M., Geiger, M., Glötzl, F., Schuberth, H. (2015). Sectoral Deleveraging in Europe and its Economic Implications, Focus on European Economic Integration, Q1/15, 8–23. Gächter, M., Geiger, M., Glötzl, F., Schuberth, H. (2015). Post-crisis Recovery in Slowmotion Mode: The Role of the Non-financial Corporate Sector. In: Nowotny, E., Ritzberger-Grünwald, D., Schuberth, H. (eds). The Challenge of Economic Rebalancing in Europe. Perspectives for CESEE Countries, Edward Elgar, 64–81. Giordano, R., Pereira, M., Depalo, D., Eugène, B., Papapetrou, E., Pérez, J., Reiss, L., Roter, M. (2015). The Public Sector Pay Gap in a Selection of Euro Area Countries in the Pre-crisis Period. Hacienda Pública Española/Review of Public Economics 214(3/2015), 11–34, refereed.

Economic Analysis and Research Department – Publications

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Gnan, E., Kronberger, R. (eds) (2015). Schwerpunkt Außenwirtschaft 2014/2015 – Produktivität im Dienstleistungssektor und Außenwirtschaft. Facultas, Vienna. Hildebrandt, A., Moder, I. (2015). Business Cycle Synchronization between the Western Balkans and the European Union. Focus on European Economic Integration Q3/15, OeNB, 8–25. Huber, F. (2015). Forecasting Exchange Rates Using Multivariate Threshold Models. The B.E. Journal of Macroeconomics, 16 (1), 193–210, refereed. Huber, F., Dovern, J. (2015). Global Prediction of Recessions. Economics Letters, 133, August, 81–84, refereed. Huber, F., Fischer M. (2015). A Markov Switching Factor-augmented VAR Model for Analyzing US Business Cycles and Monetary Policy. Department of Economics Working Paper Series, 201. WU Vienna University of Economics and Business, Vienna. Huber, F., Kaufmann D. (2015). Trend Fundamentals and Exchange Rate Dynamics. KOF Working Paper Series No. 393. Huber, F., Petrovska, M. (2015). Price and Wage Rigidities in the Republic of Macedonia: Survey Evidence from Micro-Level Data. Focus on European Economic Integration Q1/15, OeNB, 49–64. Hubmann, G. (2015). Weiterhin schwache Nachfrage nach Unternehmenskrediten – Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft vom Juli 2015. Statistiken – Daten & Analysen, Q3/15, OeNB, 31–35. Hubmann, G. (2015). Niedriges Zinsniveau stärkt Kreditnachfrage der privaten Haushalte – Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft vom Oktober 2015. Statistiken – Daten & Analysen, Q4/15, OeNB, 64–69. Jobst, C., Scheiber, T. (2015). The Central Bank Balance Sheet in the (Very) Long Run – How to Construct it, How to Read it, What to Learn from It. Monetary Policy & the Economy Q4/15, OeNB. Knell, M. (2015). The Return on Social Security with Increasing Longevity. OeNB Working Paper No. 201. Knell, M., Stix, H. (2015). Trust in Banks during Normal and Crises Times – Evidence from Survey Data. Economica, 82, 995–1020, refereed. Knell, M., Segalla, E., Weber, A. (2015). Expected Retirement Age and Pension Benefits in Austria: Evidence from Survey Data. Monetary Policy & the Economy Q3/15, OeNB, 35–57. Köhler-Töglhofer, W. (2015). Welchen Beitrag kann die öffentliche Verwaltung unter den aktuell schwierigen Bedingungen leisten, um den Standort Österreich zu verbessern? In: WIFO-KDZ, Standort Österreich und öffentliche Verwaltung. Tagungsband. Lindner, P. (2015). Factor Decomposition of the Wealth Distribution in the Euro Area. Empirica Journal of European Economics, DOI 10.1007/s10663-015-9290-6, published online 12 March 2015, refereed. Lindner, P., Schürz, M. (2015). Varianten der Messung von Haushaltsvermögen im HFCS in Österreich. Statistiken – Daten & Analysen, Q2/15, OeNB, 52–70. Morris, R., Rizza, P., Borgy, V., Brandt, K., Pereira, M. C., Jablecka, A., Pérez, J. J., Reiss, L., Rasmussen, M., Triki, K., Wemens, L. (2015). Towards a Semi-Narrative Analysis of Fiscal Policy in EU Member States. In: Momigliano, S. (ed.), Public Finances Today: Lessons Learned and Challenges Ahead. Workshop and Conferences 19, Bank of Italy, Economic Research Department.

Economic Analysis and Research Department – Publications

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Posch, J., Rumler, F. (2015). Semi-Structural Forecasting of UK Inflation Based on the Hybrid New Keynesian Phillips Curve, Journal of Forecasting 34(2), 145–162, refereed. Prammer, D., Reiss, L. (2015). Impact of Inflation on Fiscal Aggregates. Monetary Policy & the Economy Q1/15, OeNB, 27–41. Ragacs, C., Rumler, F., Schneider, M. (2015). Austria: Economic Growth in 2014 at 0.4%. Monetary Policy & the Economy Q1/15, OeNB, 6–10. Ragacs, C., Vondra, K. (2015). Österreichs Wirtschaftsentwicklung, preisliche Wettbewerbsfahigkeit und Überblick über die Ausenwirtschaft. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2014/2015 – Produktivität im Dienstleistungssektor und Außenwirtschaft. Facultas, Vienna, 71–90. Ragacs, C., Vondra, K. (2015). Four-year Economic Downturn to End in 2016 – Economic Outlook for Austria from 2015 to 2017 (June 2015). Monetary Policy & the Economy Q2/15, OeNB, 6–34. Raunig, B. (2015). Firm Credit Risk in Normal Times and During the Crisis: Are Banks Less Risky? Applied Economics 47 (24), 2455–2469, refereed. Raunig, B. (2015). Unsicherheit und die Kreditvergabe durch Banken: Empirische Evidenz. Wirtschaftspolitische Blätter, 4/2015, 711–720. Reiss, L. (2015). Comment to “Disappointing Performance of Pension Privatization in Eastern Europe”. In: Momigliano, S. (ed.), Public Finances today: Lessons Learned and Challenges Ahead. Workshop and Conferences 19, Bank of Italy, Economic Research Department. Riedl, A., Schoiswohl, F. (2015). Is there an Added Worker Effect? – European Labor Supply During the Crisis. Focus on European Economic Integration Q4/15, OeNB, 71– 88 Riedl, A., Silgoner, M., Knollmayer, A. (2015). The Mixed Success of EU-IMF Adjustment Programs in Europe – Why Greece was Different. Focus on European Economic Integration Q4/15, OeNB, 52–70. Ritzberger-Grünwald, D., Schneider, M. (2015). Immobilienpreise aus der Sicht einer Notenbank. In: Twaroch, C. and Wessely, R. (eds): Liegenschaft und Wert – Geodaten als Grundlage einer österreichweiten Liegenschaftsbewertung, 43–52. Ritzberger-Grünwald, D., Schneider, M. (2015). The Threat of Secular Stagnation and How to Avoid It. 43rd Economics Conference 2015– Long-term perspectives for economic growth. 124–127. Rumler, F., Valderrama, M.T., (2015). Uncertainty of Inflations Expectations - Evidence for Austria. Wirtschaftspolitische Blätter, 4, 737–748. Silgoner, M., Steiner, K., Schitter, C., Wörz, J. (2015). Fishing in the Same Pool? Export Strengths and Competitiveness of China and CESEE in the EU-15 Market, China Economic Review, 32, 68–83, refereed. Schneider, M. (2015). An Assessment of Recent Increases of House Prices in Austria through the Lens of Fundamentals. Proceedings of OeNB Workshops No. 19, 57–64. Schneider, M., Wagner, K. (2015). Editorial. In: Are House Prices Endangering Financial Stability? If so, How Can We Counteract This? Proceedings of OeNB Workshops No. 19, 5–7. Schneider, M., Wagner, K. (2015). Housing Markets in Austria, Germany and Switzerland. Monetary Policy & the Economy Q1/15, OeNB, 42–58. Segalla, E. (2015). When Austrian Banks Cross Borders. Financial Stability Report 29, OeNB, 110–121.

Economic Analysis and Research Department – Publications

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Silgoner, M. (2015). 4.6 Dynamic Trade Link Analysis, Box 3 and 4.7 Trade-weighted unit labour cost indicator. In: Karadeloglou, P., Benkovskis, K. (eds). Compendium on the diagnostic toolkit for competitiveness, and the CompNet Task Force. ECB Occasional Paper Series 163, July 2015, ECB, 34–41. Silgoner, M., Greimel-Fuhrmann, B., Weber, R. (2015). Financial literacy gaps oft he Austrian population. Monetary Policy & the Economy Q2/15, OeNB, 35–51. Silgoner, M., Steinacher, S., Wörz, J. (2015). Conference on European Economic Integration 2015: Boosting EU Competitiveness – The Role of the CESEE Countries. Focus on European Economic Intergration Q4/15, OeNB, 90-99. Silgoner, M., Weber, R. (2015). Das Finanzwissen der österreichischen Haushalte. Statistiken – Daten & Analysen, Q3/15, OeNB, 40–48. Waschiczek, W. (2015). Kreditvergabepolitik der österreichischen Banken zu Jahresende stabil – Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft vom Jänner 2015. Statistiken – Daten & Analysen, Q1/15, OeNB, 43–46. Waschiczek, W. (2015). Banken registrieren geringfügige Belebung der Kreditnachfrage der Unternehmen (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft vom April 2015). In: Statistiken – Daten & Analysen Q2/15, 28–32. Wörz, J., Benkovskis, K. (2015). Participation in Global Value Chains and the Contribution of Services to Exporting. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2014/2015 – Produktivität im Dienstleistungssektor und Außenwirtschaft. Facultas, Vienna, 211–220. Zeugner, S., Feldkircher, M. (2015). Bayesian Model Averaging Employing Fixed and Flexible Priors – The BMS Package. Journal of Statistical Software, 68(4), 1–37, refereed.

2014 Albacete, N. (2014). Multiple Imputation in the Austrian Household Survey on Housing Wealth. Austrian Journal of Statistics, 43, 5–28, refereed. Albacete, N., Eidenberger, J., Krenn, G., Lindner, P., Sigmund, M. (2014). Risk Bearing Capacity of Households – Linking Microlevel Data to the Macroprudential Toolkit. Financial Stability Report 27, OeNB, 95–110. Albacete, N., Schürz, M. (2014). Paradaten im HFCS Austria 2010 – Teil 1: Evaluierung von Non-Response-Fehlern. Statistiken – Daten & Analysen, Q1/14, OeNB, 81–97. Albacete, N., Schürz, M. (2014). Paradaten im HFCS Austria 2010 – Teil 2: Evaluierung von Messfehlern. Statistiken – Daten & Analysen, Q3/14, OeNB, 54–64. Andreasch, M., Lindner, P. (2014). Micro and Macro Data: A Comparison of the Household Finance and Consumption Survey with Financial Accounts in Austria. ECB Working Paper Series No. 1673, ECB, May, WP No. 1673. Andreasch. M. et al. (2014). 13. Kreditbericht. OeNB. Arrondel, L., Bartiloro, L., Fessler, P., Lindner, P., Mathä, T., Rampazzi, C., Savignac, F., Schmidt, T., Schürz, M., Vermeulen, P. (2014). How do Households Allocate their Assets? Stylised Facts from the Eurosystem Household Finance and Consumption Survey. ECB Working Paper Series, ECB, WP 1722. Bachmann, E., Hameter, M., Lahnsteiner, M. (2014). Konzerninterne Kreditvergabe österreichischer Banken an zentral-, ost- und südosteuropäische Tochterinstitute. Statistiken – Daten & Analysen, Q1/14, OeNB, 38–52. Bachmann, E. et al. (2014). 12. Kreditbericht. OeNB.

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Bagnall, J., Bounie, D., Huynh, K.P., Kosse, A., Schmidt, T., Schuh, S., Stix, H. (2014). Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data. OeNB Working Paper No. 192. Barisitz, S. (2014). Macrofinancial Developments and Systemic Change in CIS Central Asia from 2009 to 2014. Focus on European Economic Integration Q3/14, OeNB, 48– 73. Beckmann, E., Stix, H. (2014). Foreign Currency Borrowing and Knowledge about Exchange Rate Risk. OeNB Working Paper No. 188. Beer, C., Henseler, S., Huber, C. (2014). Einschätzung Österreichs auf Basis von ausgewählten Indikatoren und Implikationen für die Wirtschaftspolitik. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2013/2014 – Internationale Wettbewerbsfähigkeit Österreichs. Facultas.wuv, Vienna, 253–263. Beer, C., Henseler, S., Huber, C. (2014). Österreichs Wettbewerbsfähigkeit – ein Überblick über die Einschätzung der internationalen Organisationen. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2013/2014 – Internationale Wettbewerbsfähigkeit Österreichs. Facultas.wuv, Vienna, 265–274. Beer, C., Köhler-Töglhofer, W., Stiglbauer, S. (2014). A Common European Unemployment Insurance – A Much Debated Route toward European Fiscal Union. Monetary Policy & the Economy Q4/14, OeNB, 35–52. Beer, C., Weber, B. (2014). Bitcoin – The Promise and Limits of Private Innovation in Monetary and Payment Systems. Monetary Policy & the Economy Q4/14, OeNB, 53– 66. Benkovskis, K., Pastušenko, J., Wörz, J. (2014). Assessing the Full Extent of Trade Integration between the EU and Russia – A Global Value Chain Perspective. Focus on European Economic Integration Q3/14, OeNB, 31–47. Benkovskis, K., Silgoner, M., Steiner K., Wörz, J. (2014). Mapping Competitive Pressure between China and EU Countries. CompNet Policy Brief No. 4, European Central Bank (ECB). Benkovskis, K., Wörz, J. (2014). How Does Taste and Quality Impact on Import Prices? Review of World Economics Issue, 150(4), 665–691, refereed. Benkovskis, K., Wörz, J. (2014). “Made in China” – How Does it Affect Measures of Competitiveness? OeNB Working Paper No. 193. Benkovskis, K., Wörz, J. (2014). What Drives the Market Share Changes? Price versus Non-Price Factors. Working Paper Series No. 1640, ECB. Benkovskis, K., Wörz, J. (2014). Comprehensive Gains from Trade: Non-Price Factors, Vox-EU article, July 15 2014.Bernhofer, D., Fernández-Amador, O., Gächter, M., Sindermann, F. (2014). Finance, Potential Output and the Business Cycle: Empirical Evidence from Selected Advanced and CESEE Economies. Focus on European Economic Integration Q2/14, OeNB, 52–75. Bernhofer, D., Fernández-Amador, O., Gächter, M., Sindermann, F. (2014). Finance, Potential Output and the Business Cycle. In: Nowotny, E., Ritzberger-Grünwald, D., Backé, P. (eds). Financial Cycles and the Real Economy – Lessons for CESEE Countries, 2014, Edward Elgar, 235–265. Bernhofer, D., Cetkovic, P. (2014). Is the Welfare State an Asymmetric Stabilizer? The Role of Structural Change and Absorbtion. IMK Working Paper. Bernhofer, D. (2014). The Microeconomics of Sudden Stop Episodes – An Application to the Euro Area. Momentum Quarterly 3(3), 149–157.

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Brunner, M., Nader, A., Wörz, J. (2014). Aktuelle Entwicklung der Weltwirtschaft und des Welthandels. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2013/2014 – Internationale Wettbewerbsfähigkeit Österreichs, Facultas.wuv, Vienna, 25–49. Cervena, M., Schneider, M. (2014). Short-term Forecasting GDP with a DSGE Model Augmented by Monthly Indicators. International Journal of Forecasting, 30, 498–516. Corti, M., Scheiber, T. (2014). How Did CESEE Households Weather the Crisis? Evidence from the OeNB Euro Survey. Focus on European Economic Integration, Q2/14, OeNB, 76–87. Crespo Cuaresma, J., Feldkircher, M., Huber, F. (2014). Forecasting with Bayesian Global Vector Autoregressive Models: A Comparison of Priors. OeNB Working Paper No. 189. Crespo Cuaresma, J., Doppelhofer, G., Feldkircher, M. (2014). The Determinants of Economic Growth in European Regions. Regional Studies, 48(1), 44–67. Crespo Cuaresma, J., Silgoner, M. (2014). Economic Growth and Inflation in Europe: A Tale of Two Thresholds. Journal of Common Market Studies, 52(4), 843–860, refereed. Eichberger, J., Rheinberger, K., Summer, M. (2014). Credit Risk in General Equilibrium, Economic Theory, online first, doi 10.1007/s00199-014-0822-2. Eidenberger, J., Schmitz, S.W., Steiner, K. (2014). The Priorities of Deleveraging in the Euro Area and Austria and Its Implications for CESEE. Financial Stability Report 27, OeNB, 50–63. Eidenberger, J., Liebeg, D., Schmitz, S.W., Seliger, R., Sigmund, M., Steiner, K., Strobl, P., Ubl, E. (2014). Macroprudential Supervision: A Key Lesson from the Financial Crisis. Financial Stability Report 27, OeNB, 83–94. Elsinger, H., Waschiczek, W. (2014). Toward a European Banking Union: Taking Stock – Summary of the 42nd OeNB Economics Conference in Vienna on May 12 and 13, 2014. Monetary Policy & the Economy Q2/14, 65–72. Feldkircher, M. (2014). The Determinants of Vulnerability to the Global Financial Crisis 2008 to 2009: Credit Growth and Other Sources of Risk. Journal of International Money and Finance, 43(C), 19–49, refereed. Feldkircher, M., Huber, F. (2014). The International Transmission of U.S. Structural Shocks – Evidence from Global Vector Autoregressions. OeNB Working Paper No. 195. Feldkircher, M., Korhonen, I. (2014). The Rise of China and its Implications for the Global Economy – Evidence from a Global Vector Autoregressive Model. Pacific Economic Review, 19(1), 61–89, refereed. Feldkircher, M., Horvath, R., Rusnak, M. (2014). Exchange Market Pressures during the Financial Crisis: A Bayesian Model Averaging Evidence. Journal of International Money and Finance, 40(C), 21–41, refereed. Feldkircher, M., Gruber, T., Moder, I. (2014). Using a Threshold Approach to Flag Vulnerabilities in CESEE Economies. Focus on European Economic Integration Q3/14, OeNB, 8–30. Fessler, P., Lindner, P., Segalla, E. (2014). Net Wealth Across the Euro Area – Why Household Structure Matters and How to Control for It. ECB Working Paper Series, ECB, WP 1663. Fenz, G. (2014). Austrian GDP Growth at 0.8% in 2014. Monetary Policy & the Economy Q3/14, OeNB, 6–12.

Economic Analysis and Research Department – Publications

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Fenz, G., Schneider, M. (2014). Growth Remains Weak in 2015 – Economic Outlook for Austria from 2014 to 2016 (December 2014). Monetary Policy & the Economy Q4/14, OeNB, 6–34. Fessler, P., Mooslechner, P., Schürz, M. (2014). Vererbte Ungleichheit in Österreich. Erziehung und Unterricht 2014/1+2. Fessler, P., Rehm, M., Tockner, L. (2014). The Impact of Housing Non-Cash Income on the Unconditional Household Income Distribution in Austria. ECB Working Paper Series, ECB, WP1718. Fessler, P., Rumler, F., Schwarz, G. (2014). A Micro-Based Non-Inflationary Rate of Capacity Utilisation as a Measure of Inflationary Pressure – Evidence for Austria. Empirica. Journal of European Economics 41 (1), 23–36, refereed. Forstner, K., Wagner, K. (2014). How Gender-Specific Are Payments? A Study Based on Austrian Survey Data from 1996 to 2011. Monetary Policy & the Economy Q3/14, 36–53. Gächter, M., Riedl, A. (2014). One Money, one Cycle? The EMU Experience. Journal of Macroeconomics, 42, 141–155, refereed. Gnan, E., Kronberger, R. (eds) (2014). Schwerpunkt Außenwirtschaft 2013/2014. Internationale Wettbewerbsfähigkeit Österreichs, Facultas.wuv, Vienna. Gnan, E., Kronberger, R. (eds) (2014). Editorial. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2013/2014 – Internationale Wettbewerbsfähigkeit Österreichs, Facultas.wuv, Vienna, 11–17. Gnan, E., Kronberger, R. (2014). Standort Österreich: Bestandsaufnahme und Zukunft aus Praktikersicht. 155–174. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2013/2014 – Internationale Wettbewerbsfähigkeit Österreichs, Facultas.wuv, Vienna, 155–176. Hake, M., Lopez-Vicente, F., Molina, L. (2014). Do the Drivers of Loan Dollarization Differ between CESEE and Latin America? A Meta-Analysis. Focus on European Economic Integration Q1/14, OeNB, 8–35. Hake, M., Ritzberger-Grünwald, D. (2014). South-Eastern Europe – Two Decades of Economic Achievements and Challenges Ahead. In: Hanappi, H. (ed.), South-East Europe in Evolution, Routledge. Haussteiner, I. (2014). Neue Wege der Terminologie- und Wissensvermitllung bei der Oesterreichischen Nationalbank. eDITion, 1/2014, 24–26, refereed. Hauth, E., Grossmann, B. (2014). Die neuen Haftungsobergrenzenbestimmungen von Bund, Ländern und Gemeinden: Ausgestaltung und Effektivität. In: WKO (ed.) Wirtschaftspolitische Blätter, 1/2014 „Föderalismus und Wirtschaft“, 61. Jg., Vienna, 251–273. Huynh, K. P., Schmidt-Dengler, P., Stix, H. (2014). The Role of Card Acceptance in the Transaction Demand for Money. OeNB Working Paper No. 196. Jäger-Gyovai, K. (2014). Capital Market Development in CESEE and the Need for Further Reform. Financial Stability Report 27, OeNB, 74–82. Jobst, C. (2014). What Drives Central Bank Branching? The Government, the Austrian National Bank and Local Lending in the Territory of Present-day Slovakia 1845–1880. In: Centrálne bankovníctvo v stredoeurópskom priestore/Centralbanking in Central Europe, Bratislava. Jobst, C., Scheiber, T. (2014). Austria-Hungary: 1863–1914. In: South-Eastern European Monetary and Economic Statistics from the Nineteenth Century to World War II.

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Athens, Sofia, Bucharest, Vienna: Bank of Greece, Bulgarian National Bank, National Bank of Romania, Oesterreichische Nationalbank, 55–100. Jobst, C., Ugolini, S. (2014). The Coevolution of Money Markets and Monetary Policy, 1815–2008. ECB Working Paper Series 1756, ECB. Kichian, M., Rumler, F. (2014). Forecasting Canadian Inflation: A Semi-Structural NKPC Approach. Economic Modelling, 43, 183–191, refereed. Kment, C., Lindner, I. (2014). Reformed Economic Governance Structure in the European Union and the Way Forward. Monetary Policy & the Economy Q1/14, 12–33. Knell, M. (2014). Efficiency Wages, Staggered Wages, and Union Wage-Setting. Oxford Economic Papers, 66(3), 848–870. Ledyaeva, S., Karhunen, P., Kosonen, R., Wörz, J. (2014). FDI in Russia from CESEE and Central Asia: A Micro-Level Perspective. Focus on European Economic Integration Q4/14, OeNB, 54–70. Lindner, P., Schürz, M., Zhan, J. C. (2014). Methodische Verbesserungen im HFCS Austria. Statistiken – Daten & Analysen, Q4/14, OeNB, 71–83. McKnight, S., Mihailov, A., Patterson, K., Rumler F. (2014). The Predictive Performance of Fundamental Inflation Concepts: An Application to the Euro Area and the United States, Department of Economics Discussion Papers 2014-108, Henley Business School, University of Reading. Prammer, D., Reiss, L. (2014). Fiscal Projections by the Oesterreichische Nationalbank: Methods and Motives. Monetary Policy & the Economy Q2/14, 31–48. Bank of Greece, Bulgarian National Bank, National Bank of Romania, Oesterreichische Nationalbank (2014). South-Eastern European Monetary and Economic Statistics from the Nineteenth Century to World War II. Athens, Sofia, Bucharest, Vienna. Ragacs, C. (2014). Austria: Economic Activity Picks Up at the Turn of the Year. Monetary Policy & the Economy Q1/14, OeNB, 6–11. Ragacs, C., Vondra, K. (2014). Moderate Upswing amid High Uncertainty. Monetary Policy & the Economy Q2/14, OeNB, 6–30. Ragacs, C., Vondra, K. (2014). Österreichs Wirtschaftsentwicklung, preisliche Wettbewerbsfähigkeit und Überblick über die Außenwirtschaft. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2013/2014 – Internationale Wettbewerbsfähigkeit Österreichs, Facultas.wuv, Vienna, 67–85. Ramskogler, P. (2014). Tracing the Origins of the Financial Crisis. OECD Journal, Financial Market Trends. Raunig, B., Scharler, J., Sindermann, F. (2014). Do Banks Lend Less in Uncertain Times? OeNB Working Paper No. 194. Reiff, A., Rumler, F. (2014). Within and Cross-Country Price Dispersion in the Euro Area, ECB Working Paper No. 1742. Reiss, L. (2014). Fiscal Sustainability Using Growth-Maximizing Debt Targets. Applied Economics, 46(6), 648–649. Rumler, F., Waschiczek, W. (2014). Have Changes in the Financial Structure Affected Bank Profitability? Evidence for Austria. European Journal of Finance, http://www.tandfonline.com/doi/pdf/10.1080/1351847X.2014.984815, refereed. Schneider, M. (2014). Ein Fundamentalpreisindikator für Wohnimmobilien für Wien und Gesamtösterreich. Zeitschrift für das gesamte Bank- und Börsenwesen, 62, 366–375.

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Schneider, M., Wagner, K. (2014). Workshop Summary: Are House Prices Endangering Financial Stability? If So, How Can We Counteract This? Financial Stability Report 28, OeNB, 69–74. Schneider, M. (2014). Labor Productivity Developments in Austria in an International Perspective. Monetary Policy & the Economy Q3/14, OeNB, 13–35. Segalla, E. (2014). Shock Transmission through International Banks: Austria. OeNB Working Paper No. 199. Silgoner, M. (2014). 75th Anniversary East Jour Fixe on “Ten Years After the 2004 EU Enlargement: Achievements and Next Steps”. Focus on European Economic Integration, Q2/14. OeNB. 92–96. Slačík, T., Steiner, K., Wörz, J. (2014). Can Trade Partners Help Better FORCEE the Future? Impact of Trade Linkages on Economic Growth Forecasts in Selected CESEE Countries. Focus on European Economic Integration Q1/14, OeNB, 36–56. Von Kalckreuth, U., Schmidt, T., Stix, H. (2014). Using Cash to Monitor Liquidity – Implications for Payments, Currency Demand and Withdrawal Behavior. Journal of Money, Credit and Banking, 46 (8), December, 1753–1785, refereed. Vondra, K. (2014). Austria Holds Intra-EU Export Market Shares almost Constant despite Difficult Economic Environment. Monetary Policy & the Economy Q3/14, OeNB, 54– 74. Vondra, K., Widhalm, D., Wittenberger, T. (2014). Facts on Austria and Its Banks. OeNB, April. Vondra, K., Widhalm, D., Wittenberger, T. (2014). Facts on Austria and Its Banks. OeNB, December. Wagner, K. (2014). Intergenerational Transmission: How Strong is the Effect of Parental Home Ownership? Monetary Policy & the Economy Q2/14, 49–64. Wagner, K. (2014). Einige Kennzahlen zur Beurteilung der heimischen Immobilienmarktentwicklung – eine Bestandsaufnahme, ÖVI News 03/2014. Wagner, K. (2014). Finanzmarktstabilität und Wohnbau. In: Amann, W., Persteiner, H., Struber, C. (eds). Wohnbau in Österreich, 13–22. Waschiczek, W. (2014). Kreditvergabepolitik der Banken und Kreditnachfrage der Unternehmen unverändert – Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Jänner 2014. Statistiken – Daten & Analysen, Q1/14, OeNB, 34– 37. Waschiczek, W. (2014). Unveränderte Richtlinien der Banken für Kredite an KMU und private Haushalte. – Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft vom April 2014. Statistiken – Daten & Analysen, Q2/14, OeNB, 51–54. Waschiczek, W. (2014). Kreditstandards der österreichischen Banken für KMUFinanzierungen und Wohnbaukredite unverändert – Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft vom Juli 2014. Statistiken – Daten & Analysen, Q3/14, OeNB, 50–53. Waschiczek, W. (2014). Kreditstandards der österreichischen Banken für KMUFinanzierungen und Wohnbaukredite unverändert – Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft vom Oktober 2014. Statistiken – Daten & Analysen, Q4/14, OeNB, 58–61. Wittenberger, T., Widhalm, D., Lahnsteiner, M., Barisitz, S. (2014). Macrofinancial Developments in Ukraine, Russia and Turkey from an Austrian Financial Stability Perspective. Financial Stability Report 27, OeNB, 64–73.

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2013 Albacete, N., Lindner, P. (2013). Household Vulnerability in Austria – A Microeconomic Analysis Based on the Household Finance and Consumption Survey. Financial Stability Report 25, OeNB, 57–73. Albacete, N., Schürz, M. (2013). Vergleich der Einkommensmessung für Haushalte in Österreich: HFCS versus EU-SILC. Statistiken – Daten & Analysen, Q2/13, 88–98. Albacete, N., Schürz, M. (2013). Interviewereffekte beim HFCS Austria 2010. Statistiken – Daten & Analysen, Q3/13, 57–68. Andreasch, M., Fessler, P., Lindner, P. (2013). Verknüpfung der Informationen zum Finanzvermögen der Haushalte aus Mikro- und Makrodaten andhand des HFCS und der GFR für Österreich. Statistiken – Daten & Analysen, Sonderheft (special issue), June 2013. Backé, P., Feldkircher, M., Slacík, T. (2013). Economic Spillovers from the Euro Area to the CESEE Region via the Financial Channel: A GVAR Approach. Focus on European Economic Integration Q4/13, OeNB, 50–64. Balling, M., Gnan, E., Holler, J. (2013). Introduction. In: Balling, M., Gnan, E., Holler, J. (2013). The Future of Sovereign Borrowing. SUERF Study 2013/5, Vienna and Brussels, Larcier. Balling, M., Gnan, E. (2013). Introduction. In: Balling, M., Gnan, E. (eds) (2013). 50 Years of Money and Finance: Lessons and Challenges. Vienna and Brussels, Larcier. Balling, M., Gnan, E. (2013). The Development of Financial Markets and Financial Theory – 50 Years of Interaction. In: Balling, M., Gnan, E. (eds) (2013). 50 Years of Money and Finance: Lessons and Challenges. Vienna and Brussels, Larcier. Balling, M., Gnan, E., Jackson, P. (2013). Introduction. In: Balling, M., Gnan, E., Jackson, P. (eds). States, Banks, and the Financing of the Economy: Monetary Policy and Regulatory Perspective, SUERF Study 2013/3, Vienna and Brussels, Larcier. Balling, M., Egger, P., Gnan, E. (2013). Introduction. In: Balling, M., Egger, P., Gnan, E. (eds) (2013). States, Banks and the Financing of the Economy: Fiscal Policy and Sovereign Risk Perspectives. SUERF Study 2013/2, Vienna and Brussels, Larcier. Barisitz, S. (2013). Nonperforming Loans in CESEE – An Even Deeper Definitional Comparison. Focus on European Economic Integration Q3/13, OeNB, 67–84. Barisitz, S. (2013). Credit Boom in Russia despite Global Woes – Driving Forces and Risks. Financial Stability Report 26, OeNB, 82–99. Beckmann, E. (2013). Financial Literacy and Household Savings in Romania. Numeracy 6(2). Beckmann, E., Fidrmuc, J. (2013). Exchange Rate Pass-Through in CIS Countries. Comparative Economic Studies, 25 April, doi:10.1057/ces.2013.8. Beckmann, E., Moder, I. (2013). Households’ Expectations and Macroeconomic Outcomes – Evidence from the Euro Survey. Focus on European Economic Integration Q4/13, OeNB, 65–76. Beckmann, E., Gächter, M., Ritzberger-Grünwald, D. (2013). Das internationale Währungssystem im Umbruch? Wirtschaftspolitische Blätter, 2/2013, 231– 251. Beckmann, E., Dvorsky, S., Scheiber, T. (2013). Trust in the EU in CESEE: Did the Crisis and EU Integration Have an Impact? Evidence from the OeNB Euro Survey. Focus on European Economic Integration, Q2/13, OeNB, 77–90.

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Beckmann, E., Hake, M., Urvova, J. (2013). Determinants of Households’ Savings in Central, Eastern and Southeastern Europe. Focus on European Economic Integration Q3/13, OeNB, 8–29. Beer, C., Gonenc, R., Röhn, O., Wörgötter, A. (2013). OECD Economic Surveys: Austria 2013, OECD Publishing. doi: 10.1787/eco_surveys-aut-2013-en Benkovskis, K., Fadejeva, L., Stehrer, R., Wörz, J. (2013). How Important is Total Factor Productivity for Growth in Central, Eastern and Southeastern European Countries?; Focus on European Economic Integration Q1/13, OeNB, 8-27. Benkovskis, K., Silgoner, M., Steiner, K., Wörz, J. (2013). Crowding-Out or CoExistence? The Competitive Position of EU Members and China in Global Merchandise Trade. ECB Working Paper 1617. Benkovskis, K., Wörz, J. (2013). Non-price Competitiveness of Exports from Emerging Countries. ECB Working Paper 1612. Bernhofer, D., van Treeck, T. (2013). New Evidence of Heterogeneous Interest Rate Pass-through in the Euro Area, Economic Modelling, 35, 418–429. Breitenfellner, A. (2013). Economic Growth and Resource Use. In: Angrick, M., Burger, A. and Lehmann, H. (eds) Factor X. Re-source - Designing the Recycling Society. EcoEfficiency in Industry and Science, 30, Springer Berlin, 45–53. Breitenfellner, A., Dragu A.D., Pontuch, P. (2013). Labour Costs Pass-through, Profits and Rebalancing in Vulnerable Member States. Quarterly Report on the Euro Area 12(3), 19–25. Breuer, T., Summer, M. (2013). Robust Stress Tests: Recent Advances and Open Problems. OeNB Financial Stability Report 25, 74–86. Breuer, T., Vollbrecht, H.-J., Summer, M. (2013). Endogenous Leverage and Asset Pricing in Double Auctions. OeNB Working Paper No. 184. Crespo Cuaresma, J., Feldkircher, M. (2013). Spatial Filtering, Model Uncertainty and the Speed of Income Convergence in Europe. Journal of Applied Econometrics, 28(4), 720–741. Eller, M., Fidrmuc, J., Fungáčová, Z. (2013). Fiscal Policy and Regional Output Volatility: Evidence from Russia. BOFIT Discussion Papers No. 13, Bank of Finland, June. Elsinger, H. (2013). Comment on: A New Test for Chaos and Determinism Based on Symbolic Dynamics. Journal of Economic Behavior & Organization, 91, 131–138. Elsinger, H. (2013). Comment on: A Non-Parametric Spatial Independence Test Using Symbolic Entropy. Regional Science and Urban Economics, 43(5), 838–840. Feldkircher, M. (2013). A Global Macro Model for Emerging Europe. OeNB Working Paper No. 185. Feldkircher, M., Fenz, G., Ferstl, R., Krenn, G., Neudorfer, B., Puhr, C., Reininger, T., Schmitz, S.W., Schneider, M., Siebenbrunner, C., Sigmund, M., Spitzer, R. (2013). ARNIE in Action: The 2013 FSAP Stress Tests for the Austrian Banking System. Financial Stability Report 26, OeNB, 100–118. Fenz, G. (2013). Austrian Economy to Grow by 0.5% in 2013. Monetary Policy & the Economy Q3/13, 6–11. Fenz, G., Schneider, M. (2013). Austrian Economy Recovers from Two-Year Weak Patch. The OeNB’s Economic Outlook for Austria from 2013 to 2015 (December 2013). Monetary Policy & the Economy Q4/13, 6–28.

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Fernández-Amador, O., Gächter, M., Larch, M., Peter, G. (2013). Does Monetary Policy Determine Stock Market Liquidity? New Evidence from the Euro Zone. Journal of Empirical Finance, Elsevier, 21, 54-68, refereed. Fessler, P., Fritzer, F. (2013). The Distribution of Inflation among Austrian Households. Monetary Policy & the Economy Q3/13, 12–28. Fessler, P., Schürz, M. (2013). Cross-Country Comparability of the Eurosystem Household Finance and Consumption Survey. Monetary Policy & the Economy Q2/13, OeNB, 29–50. Fluch, M., Fritzer, F., Rumler, F. (2013). Inflation und Preiswahrnehmung: eine Bestandsaufnahme für Österreich. Statistiken – Daten & Analysen, Q4/13, 67–85. Furlan, B., Gächter, M., Krebs, B., Oberhofer, H. (2013). Democratization and Real Exchange Rates. Forschungszentrum Internationale Wirtschaft (FIW), Working Paper No. 125. Gächter, M., Riedl, A. (2013). One Money, One Cycle? The EMU Experience. OeNB Working Paper No. 186. Gächter, M., Riedl, A., Ritzberger-Grünwald, D. (2013). Business Cycle Convergence or Decoupling? Economic Adjustment in CESEE during the Crisis. BOFIT Discussion Papers No. 3, February. Gächter, M., Lorenz, H. Ramskogler, P., Silgoner, M. (2013). An Export-Based Measure of Cost Competitiveness. Monetary Policy & the Economy Q2/13, OeNB, 75– 92. Gnan, E. (2013). Introduction. In: Gnan, E. (ed.). The Interaction of Political, Fiscal and Financial Stability. Lessons from the Crisis. SUERF Study 2013/1, Vienna and Brussels, Larcier. Gnan, E. (2013). Monetary Policy Crisis Management and Price Stability. In: Oesterreichische Nationalbank (2013). A Changing Role for Central Banks? Proceedings of the OeNB’s 41st Economic Conference 2013, May, Vienna, 150–155. Gnan, E., Holler, J. (2013). The Future of Sovereign Borrowing – Key Findings of a Conference Jointly Organized by SUERF, OeNB and BWG on March 8, 2013, in Vienna. Monetary Policy & the Economy Q1/13, OeNB, 52–60. Gnan, E., Segalla, E. (2013). A Changing Role for Central Banks? Key Findings from the 41st OeNB Economics Conference; Vienna, June 10 and 11, 2013. Monetary Policy & the Economy Q2/13, OeNB, 122–129. Gnan, E., Kronberger, R. (eds) (2013). Schwerpunkt Außenwirtschaft 2012/2013– Exportfinanzierung in der Krise, Facultas, Vienna. Gnan, E., Kronberger, R. (eds) (2013). Editorial: Österreichische Außenwirtschaft trotzt neuerlicher Rezession im Euroraum und erschwerter Exportfinanzierung. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2012/2013 – Exportfinanzierung in der Krise, Facultas, Vienna, 11–20. Greiner, A. Vondra, K. (2013). Fakten zum Euro. Oktober, OeNB. Grossmann B. (2013). Transparenz als Basis effizienter und nachhaltiger Staatsaktivität. In: Bauer, H., Biwald, P., Pitlik, H. (eds). Zur Effizienz der Förderpolitik im Bundesstaat. Effizienz und Koordinierungsaspekte. Öffentliches Management und Finanzwirtschaft, 17. Vienna, Graz: NWV. Gugler, K., Peev, E., Segalla, E. (2013). The Internal Workings of Internal Capital Markets: Cross-Country Evidence. Journal of Corporate Finance, 20, 59–73.

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Gugler, K., Mueller, D.C., Peev, E. Segalla, E. (2013). Institutional Determinants of Domestic and Foreign Subsidiaries’ Performance. International Review of Law and Economics, 24, 88–98. Hauth, E., Grossmann, B. (2013). Haftungen der Gebietskörperschaften für Dritte: Inwieweit limitieren die neuen Obergrenzenbestimmungen deren Haftungsrisiko? Vienna, May. Holler, J. (2013). Funding Strategies of Sovereign Debt Management: A Risk Focus. Monetary Policy & the Economy Q2/13, OeNB, 51–74. Hubrich, K., D’Agostino, A., Červená, M., Ciccarelli, M., Guarda, P., Haavio, M. Jeanfils, P., Mendicino, C., Ortega, E., Valderrama, M.T., Valentinyiné Endrész, M. (2013). Financial Shocks and the Macroeconomy: Heterogeneity and Nonlinearities. ECB Occasional Paper Series, 143, February. Huynh-Olesen, D.T., Steiner, K., Hildebrandt, A., Wagner, K. (2013). Residential Property Prices in Central, Eastern and Southeastern European Countries: The Role of Fundamentals and Transition-Specific Factors. Focus on European Economic Integration, Q2/13, OeNB, 52–76. Jakubik, P., Reininger, T. (2013). Determinants of Nonperforming Loans in Central, Eastern and Southeastern Europe. Focus on European Economic Integration Q3/13, OeNB, 48–66. Jakubík, P., Slacík, T. (2013). Measuring Financial (In)stability in Emerging Europe: A New Index-based Approach. Financial Stability Report 25, OeNB,102–117. Knell, M. (2013). Nominal and Real Wage Rigidities. In Theory and in Europe. Journal of Macroeconomics 36, 89–105. Knell, M. (2013). The Austrian System of Individual Pension Accounts – An Unfinished Symphony. Monetary Policy & the Economy Q4/13, OeNB, 47–62. Köhler-Töglhofer, W., Magerl, C. (2013). Revision of Price/Cost Competitiveness Indicators for Austria. Monetary Policy & the Economy Q2/13, OeNB, 93–119. Köhler-Töglhofer, W., Magerl C. (2013). Neuberechnung der Indikatoren der preislichen und kostenmäßigen Wettbewerbsfähigkeit. WIFO Monatsberichte 8/2013, 753–768. Kwapil, C., Scharler, J. (2013). Expected Monetary Policy and the Dynamics of Bank Lending Rates. International Review of Economics and Finance, 27, 542–551, refereed. Lahnsteiner, M. (2013). Private Sector Debt in CESEE EU Member States. Focus on European Economic Integration Q3/13, OeNB, 30–47. Nauschnigg, F. (2013). Wohnbau kurbelt Wirtschaft an, ohne Budget zu belasten. Wiener Zeitung, 15 February. Nauschnigg, F. (2013). Finanzkrisen und die Krise im Euroraum. Europastimme, Zeitung der europäischen Föderalistischen Bewegung 54(2/3). Nauschnigg, F. (2013). CO2 Steuer statt CO2 Handelssystem. Powerlines, Energiepolitische Entwicklungslinien Europas, new academic press, Vienna. Niemann, S., Pichler, P. (2013). Collateral, Liquidity and Debt Sustainability. OeNB Working Paper No. 187. Niemann, S., Pichler, P., Sorger, G. (2013). Central Bank Independence and the Monetary Instrument Problem. International Economic Review, International Economic Review, 54(3), 1031–1055, August. Niemann, S., Pichler, P., Sorger, G. (2013). Public Debt, Discretionary Policy, and Inflation Persistence. Journal of Economic Dynamics and Control 37(6), 1097–1109. Prammer, D. (2013). Taxation trends in the European Union: 2013 edition. Taxation trends, European Commission

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Ragacs, C., Vondra, K. (2013). Robust Recovery Remains Elusive. Economic Outlook for Austria from 2013 to 2015 (June 2013). Monetary Policy & the Economy Q2/13, OeNB, 6–28. Ragacs, C., Vondra, K. (2013). Österreichs Wirtschaftsentwicklung preisliche Wettbewerbsfähigkeit und Überblick über die Außenwirtschaft. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2012/2013, Exportfinanzierung in der Krise. Facultas, Vienna. 65–84. Ramskogler, P. (2013). The National-Transnational Wage Setting Nexus in Europe What have we Learned from the Early Years of Monetary Integration? Journal of Common Market Studies, 50(5), 916–930, refereed. Reiss, L. (2013). Structural Budget Balances: Calculation, Problems and Benefits. Monetary Policy & the Economy Q1/13, OeNB, 12–28. Ritzberger-Grünwald, D. (2013). The Impact of External Shocks on Inflation Dynamics in CESEE. In: BIS Workshop Volume on Globalisation and Inflation Dynamics in Asia and the Pacific. BIS Paper No 70, February, 161–170. Schneider, M. (2013). Are Recent Increases of Residential Property Prices in Vienna and Austria Justified by Fundamentals? Monetary Policy & the Economy Q4/13, OeNB, 29–46. Schuberth, H. (2013). Tax Policies and Financial Stability – Lessons from the Crisis, In: Braude, J., Eckstein, Z., Fischer, S., Flug, K. (2013) (eds). The Great Recession: Lessons for Central Bankers, MIT Press, 123–162. Schürz, M. (2013). Zu den Rechtfertigungsverhältnissen einer Erbschaftssteuer. In: Gaisbauer, O. Neumaier, G. Schweiger, C. Sedmak (eds). Erbschaftssteuer im Kontext. Springer VS, 207–229. Silgoner, M, Steiner, K., Wörz, J., Schitter, C. (2013). Fishing in the Same Pool? Export Strengths and Competitiveness of China and CESEE in the EU-15 Market. ECB Working Paper 1559. Silgoner, M., Steiner, K. Wörz, J., Schitter, C. (2013). Fishing in the Same Pool? Export Strengths and Competitiveness of China and CESEE in the EU-15 Market. ECB Working Paper 1559. Steiner, K. (2013). Residential Property Prices in Central, Eastern and Southeastern European Countries: Stocktaking of Data and a View on New Developments in Data Availability. Focus on European Economic Integration Q3/13, OeNB, 85–97. Stiglbauer, A. (2013). Effective Retirement Age in Austria – A Review of Changes since 2000. Monetary Policy & the Economy Q1/13, OeNB, 29–49. Stix, H. (2013). Why Do People Save in Cash? Distrust, Memories of Banking Crises, Weak Institutions and Dollarization, Journal of Banking and Finance, 37(11), 4087– 4106, refereed. Stix, H. (2013). Does the Broad Public Want to Consolidate Public Debt? The Role of Fairness and of Policy Credibility. Kyklos, 66(1), 102–129, refereed. Stix, H. (2013). Wird ein nachhaltiger Staatsschuldenabbau von der Bevölkerung unterstützt? Einige Ergebnisse zum Wählerverhalten, der Rolle von Fairness und zur Glaubwürdigkeit der Wirtschaftspolitik. Ökonomenstimme. Summer, M. (2013). Financial Contagion and Network Analysis. Annual Review of Financial Economics, 5, 277–297. Von Kalckreuth, U., Schmidt, T., Stix, H. (2013). Choosing and Using Payment Instruments: Evidence from German Microdata. Empirical Economics, doi:10.1007/s00181-013-0708-3, refereed.

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Vondra, K. (2013). Austria Withstands Recession: Return to Positive Growth in Early 2013. Monetary Policy & the Economy Q1/13, OeNB, 6–11. Wagner, K. (2013). Finanzmarktstabilität und Wohnbau, gbv News 04/13, Österreichischer Verband gemeinnütziger Bauvereinigungen. Waschiczek, W. (2013). Anhaltend vorsichtige Kreditpolitik der Banken im Firmenkundengeschäft (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Jänner 2013). Statistiken – Daten & Analysen, Q1/13, 47–50. Waschiczek, W. (2013). Vorsichtige Kreditpolitik der Banken bei verhaltener Kreditnachfrage der Unternehmen (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im April 2013). Statistiken – Daten & Analysen, Q2/13, 99– 102. Waschiczek, W. (2013). Kreditvergabepolitik der Banken und Kreditnachfrage der Unternehmen bleiben verhalten. (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Juli 2013). Statistiken – Daten & Analysen, Q3/13, 49–52. Waschiczek, W. (2013). Stabilisierung der Kreditstandards der Banken und der Kreditnachfrage der Unternehmen. (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Oktober 2013). Statistiken – Daten & Analysen, Q4/13, 32–35. Waschiczek, W. (2013). Auswirkungen von Basel III auf die Außenhandelsfinanzierung. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2012/2013, Exportfinanzierung in der Krise, Facultas, Vienna, 211–219. Wörz, J., Nader, A. (2013). Aktuelle Entwicklung der Weltwirtschaft und des Welthandels. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2012/2013, Exportfinanzierung in der Krise, Facultas, Vienna, 21–48.

2012 Albacete, N. (2012). Multiple Imputation in the Austrian Household Survey on Housing Wealth, OeNB Working Paper 176. Albacete, N., Fessler, P., Schürz, M. (2012). Risk Buffer Profiles of Foreign Currency Mortgage Holders. Financial Stability Report 23, OeNB, 58–71. Albacete, N., Lindner, P., Wagner, K., Zottel, S. (2012). Eurosystem Household Finance and Consumption Survey 2010. Methodological Notes for Austria. Monetary Policy & the Economy Q3/12 – Addendum, OeNB. Andreasch, M., Fessler, P., Schürz, M. (2012). Savings Deposits in Austria – A Safety Net in Times of Crisis. Monetary Policy & the Economy Q2/12, OeNB, 81–95. Andreasch, M., Fessler, P., Mooslechner, P., Schürz, M. (2012). Fakten zur Vermögensverteilung in Österreich. Sozialbericht 2011–2012. Bundesministerium für Arbeit, Soziales und Konsumentenschutz, Vienna. Balling, M., Gnan, E. (2012). States, Banks, and the Financing of the Economy. SUERF Newsletter, December, Vienna. Barisitz, S., Lahnsteiner, M. (2012). Ukrainian Banks Face Heightened Uncertainty and Challenges. Financial Stability Report 23, OeNB, 50–57. Barisitz, S., Gunter, U., Lahnsteiner, M. (2012). Ukrainian Banks Face Heightened Uncertainty and Challenges. Financial Stability Report 23, OeNB, 50–57. Bartkowska, M., Riedl, A. (2012). Regional Convergence Clubs in Europe: Identification and Conditioning Factors. Economic Modelling 29(1), 22–31.

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Backé, P., Gardó, S. (2012). Spillovers of the Greek Crisis to Southeastern Europe: Manageable or a Cause for Concern? Focus on European Economic Integration Q1/12, OeNB, 31–48. Backé, P., Bernhofer, D. (2012). Spillovers of the Greek Crisis to Southeastern Europe: An Update. Mimeo. December. Beckmann, E., Fidrmuc, J. (2012). Oil Price Shock and Structural Changes in CMEA Trade: Pouring Oil on Troubled Waters? European Journal of Comparative Economics, 9(1), 31–49. Beckmann, E., Fidrmuc, J., Stix, H. (2012). Foreign Currency Loans. OeNB Working Paper No. 181. Beckmann, E., Scheiber, T. (2012). Not So Trustworthy Anymore? The Euro as a Safe Haven Asset in Central, Eastern and Southeastern Europe. Focus on European Economic Integration Q2/12, OeNB, 65–71. Beckmann, E., Scheiber, T. (2012). The Impact of Memories of High Inflation on Households’ Trust in Currencies. Focus on European Economic Integration Q4/12, OeNB, 80–93. Beckmann, E., Stix, H. (2012). The Impact of the Crisis on Foreign Currency Borrowing of Households in CESEE-Implications for Economic Policy. East-West Journal of Economics and Business, XV(1-2), 37–47, refereed. Beckmann, E., Fidrmuc, J., Stix, H. (2012). Foreign Currency Loans and Loan Arrears of Households in Central and Eastern Europe. OeNB Working Paper 181. Beer, C., Riedl, A. (2012). Modelling Spatial Externalities in Panel Data: The Spatial Durbin model revisited. Papers in Regional Science, 91(2), 299–318, refereed. Beer, C., Wagner, K. (2012). Housing Cost Burden of Austrian Households: Results of a Recent Survey. Monetary Policy & the Economy Q4/2012, OeNB, 78–89. Beer, C., Waschiczek, W. (2012). Der Bankkredit in der Finanzierung des Unternehmenssektors in Österreich. Wirtschaftspolitische Blätter 1/2012, 29–42. Beer, C., Waschiczek, W. (2012). Analyzing Corporate Loan Growth in Austria Using Bank Lending Survey Data: Conceptual Issues and Some Empirical Evidence. Monetary Policy & the Economy Q2/12, OeNB, 61–80. Benkovskis, K., Wörz, J. (2012). Non-Price Competitiveness Gains of Central, Eastern and Southeastern European Countries in the EU Market, Focus on European Economic Integration Q3/12, OeNB, 27–47. Benkovskis, K., Wörz, J. (2012). Non-Price Competitiveness of Exports from Emerging Countries. BOFIT Discussion Papers 19/2012. Bertola, G., Dabusinskas, A., Hoeberichts, M., Izquierdo, M., Kwapil, C., Montornès, J., Radowski, D. (2012). Price, Wage and Employment Response to Shocks: Evidence from the WDN Survey. Labour Economics, 19(5), 783–791, refereed. Breitenfellner, A. Crespo Cuaresma, J., Mayer, P. (2012). Energy Inflation and House Price Corrections. European Economy - Economic Papers 471, European Commission. Breuer, Th., Jandačka, M., Summer, M. (2012). A Systematic Approach to Multiperiod Stress Testing of Portfolio Credit Risk. Journal of Banking and Finance, 36(2), 332– 341. Brunauer, W., Feilmayr, W., Wagner, K. (2012). A Residential Property Price Index for Austria. Statistiken – Daten & Analysen, Q3/12, OeNB, 90–102. Ciccarelli, M., Ortega, E., Valderrama, M. T. (2012). Heterogeneity and Cross-Country Spillovers in Macroeconomic-Financial Linkages. ECB Working Paper 1498.

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Crespo Cuaresma, J., Feldkircher, M. (2012). Drivers of Output Loss during the 2008– 09 Crisis: A Focus on Emerging Europe. Focus on European Economic Integration Q2/12, OeNB, 46–64. Crespo Cuaresma, J., Doppelhofer, G., Feldkircher, M. (2012). The Determinants of Economic Growth in European Regions. Regional Studies. Denisova, I., Eller, M., Frye, T., Zhuravskaya, E. (2012). Everyone Hates Privatization, but Why? Survey Evidence from 28 Post-Communist Countries. Journal of Comparative Economics, 40, 44–61, refereed. Eichberger, J., Rheinberger, K., Summer, M. (2012). Credit Risk in General Equilibrium. ECB Working Paper No 1445, June. Eller, M., Hake, M. (2012). EBRD Transition Report 2011: The Crisis from the Household Perspective. Focus on European Economic Integration Q1/12, OeNB, 52–53. Eller, M., Urvová, J. (2012). How Sustainable Are Public Debt Levels in Emerging Europe? Evidence for Selected CESEE Countries from a Stochastic Debt Sustainability Analysis. Focus on European Economic Integration Q4/12, OeNB, 48–79. Eller, M., Mooslechner, P., Ritzberger-Grünwald, D. (2012). Editorial. In: Limited Fiscal Space in CESEE: Needs and Options for Post-Crisis Reform. Proceedings of OeNB Workshops No. 17, 5–6. Eller, M., Mooslechner, P., Ritzberger-Grünwald, D. (2012). Limited Fiscal Space in CESEE: The Issue, Underlying Economic Conditions, Related Implications and Policy Options. In: Limited Fiscal Space in CESEE: Needs and Options for Post-Crisis Reform. Proceedings of OeNB Workshops No. 17, 7–24. Elsinger, H., Lehar, A., Summer, M. (2012). Network Models and Systemic Risk. In: J.P. Pouque and J. Langsam (eds). The Handbook of Systemic Risk. Cambridge University Press. Feldkircher, M. (2012). The Determinants of Vulnerability to the Global Financial Crisis 2008 to 2009: Credit Growth and Other Sources of Risk. BOFIT Discussion Papers 26/2012. Feldkircher, M. (2012). Forecast Combination and Bayesian Model Averaging – A Prior Sensitivity Analysis. Journal of Forecasting, 31(4), 361–376. Feldkircher, M., Korhonen, I. (2012). The rise of China and its implications for emerging markets – Evidence from a GVAR model. In: BOFIT Discussion Papers 20/2012, Bank of Finland, Institute for Economies in Transition. Feldkircher, M., Zeugner, S. (2012). The Impact of Data Revisions on the Robustness of Growth Determinants – A Note on "Determinants of Economic Growth. Will Data Tell?" Journal of Applied Econometrics, Replication Section, 27(4), 686–694. Fenz, G., Schneider, M. (2012). Austria Prevails in Bleak Environment Economic Outlook for Austria from 2012 to 2014 (December 2012). Monetary Policy & the Economy Q4/12, OeNB, 6–31. Fenz, G., Moder, I., Silgoner, M. (2012). Sovereign Debt Crisis Delays Economic Recovery. Monetary Policy & the Economy Q3/12, OeNB, 5–22. Fenz, G., Reiss, L., Schneider, M. (2012). A Structural Interpretation of the Impact of the Great Recession on the Austrian Economy Using an Estimated DSGE Model. OeNB Working Paper 177. Fessler, P., Schneebaum, A. (2012). Gender and Educational Attainment across Generations in Austria. Feminist Economics, Routledge, 18(1), 161–188, refereed. Fessler, P., Mooslechner, P., Schürz, M. (2012). Intergenerational Transmission of Educational Attainment in Austria. Empirica, No. 1, 65–86, refereed.

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Fessler, P., Mooslechner, P., Schürz, M. (2012). Eurosystem Household Finance and Consumption Survey 2010. First Results for Austria. Monetary Policy & the Economy Q3/12, OeNB, 24–62. Fessler, P., Mooslechner, P., Schürz, M. (2012). Wiener Reichtumsbericht 2012. Wiener Sozialpolitische Schriften, Band 6, MA24. Fidrmuc, J., Hake, M., Stix, H. (2012). Households’ Foreign Currency Borrowing in Central and Eastern Europe. Journal of Banking and Finance, 37(6), 1880–1897, refereed. Fritzer, F. (2012). Price Level Convergence Before and After the Advent of EMU. Monetary Policy & the Economy Q1/12, OeNB, 105–116. Gächter, M., Schwazer, P., Theurl, E. (2012). Stronger Sex but Earlier Death: A Multilevel Socioeconomic Analysis of Gender Differences in Mortality in Austria. Danube Law and Economics Review, 1 (2012), 1–23, refereed. Gächter, M., Schwazer, P., Theurl, E., Winner, H. (2012). Physician Density in a Twotiered Health Care System. Health Policy, 106(3), 257–268, refereed. Gächter, M. (2012). Eher Export als Investitionen. China gewinnt als Zukunftsmarkt für Österreich weiter an Bedeutung. ChinaContact, 16, 6 (June), 16–18. Gächter, M., Riedl, A., Ritzberger-Grünwald, D. (2012). Business Cycle Synchronization in the Euro Area and the Impact of the Financial Crisis. Monetary Policy & the Economy Q2/12, OeNB, 33–60. Gerlach, S., Gnan, E., Ulbrich, J. (eds) (2012). The ESRB at 1. SUERF Study 2012/4, Vienna and Brussels, Larcier. Gerlach, S., Gnan, E., Ulbrich, J. (eds) (2012). The ESRB at 1. SUERF Newsletter April, Vienna. Gnan, E. (2012). Introductory Remarks. In: Oesterreichische Nationalbank (2012). European Monetary Union: Lessons from the Debt Crisis. Vienna. Gnan, E. (2012). The Interaction of Political, Fiscal and Financial Stability: Lessons from the Crisis. SUERF Newsletter July, Vienna. Gnan, E., Segalla, E. (2012). European Monetary Union: Lessons from the Debt Crisis. Summary of the 40th Economics Conference of the Oesterreichische Nationalbank. Monetary Policy & the Economy Q2/12, OeNB, 98–99. Gnan, E., Kronberger, R. (2012). Editorial: Komplexes Umfeld und strategische Weichenstellungen für Österreichs Außenwirtschaft im Jahr 2012. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2011/2012. Entwicklung und Strategie in der Krise, 181–198. Vienna: Facultas. Greiner, A., Vondra, K. (2012). Facts on Austria and Its Banks. OeNB. Grossmann, B., Hauth, E. (2012). Die neue fiskalpolitische Steuerung in der EU und deren Implikationen für Österreich. Vienna. Hake, M. (2012). Banking Sector Concentration and Firm Indebtedness: Evidence from Central and Eastern Europe. Focus on European Economic Integration Q3/12, OeNB, 48–68. Hameter, M., Lahnsteiner, M., Vogel, U. (2012). Intra-Group Cross-Border Credit and Roll-Over Risks in CESEE – Evidence from Austrian Banks. Financial Stability Report 23, OeNB, 72–87. Hauth, E., Grossmann, B. (2012). Umfang und Risikopotenzial von kommunalen Ausgliederungen in Österreich. In: Das öffentliche Haushaltswesen in Österreich, 53, 4/2012, Vienna, 30–45.

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Hauth, E., Grossmann, B. (2012). Ausgliederungen im Bereich der österreichischen Gemeinden: Umfang, Leistungsspektrum und Risikopotenziale. Ergebnisse per Jahresende 2010. Vienna. Hildebrandt, A., Martin, R., Steiner, K., Wagner, K. (2012). Understanding Residential Property Markets in CESEE EU Countries. Focus on European Economic Integration, Q1/12, OeNB, 8–30. Jobst, C., Nogues Marco, P. (2012). Commercial Finance in Europe, 1700-1815. In: Caprio, G. (ed.), Elsevier Encyclopedia of Financial Globalization, http://dx.doi.org/10.1016/B978-0-12-397873-8.00021-9. Jobst, C., Handig, M. Holzfeind, R. (2012). Understanding TARGET2: The Eurosystem’s Euro Payment System from an Economic and Balance Sheet Perspective. Monetary Policy & the Economy Q1/12, OeNB, 81–91. Jobst, C., Handig, M., Schneeberger, R. (2012). The Cross-Border Movement of Euro Banknotes and Austria’s TARGET 2 Liabilities, Monetary Policy & the Economy Q4/12, OeNB, 32–52 Knell, M., Stiglbauer, A. (2012). Reference Norms, Staggered Wages and Wage Leadership. Theoretical Implications and Empirical Evidence. International Economic Review, 53(2), 569–592, refereed. Knell, M. (2012). Increasing Life Expectancy and Pay-As-You-Go Pension Systems, OeNB Working Paper No. 179. Koehler-Toeglhofer, W. (2012). The Short-Term Impact of Fiscal Policy – A Comment. In: Banca d’Italia, Workshop Proceedings, Public Finance Workshop, March. Lerner, C. (2012). IMF World Economic Outlook. Growth Resuming, Dangers Remain. Focus on European Economic Integration Q2/12, OeNB, 80–81. Lerner, C. (2012). IMF October 2012 World Economic Outlook and Global Financial Stability Report. Focus on European Economic Integration Q4/12, OeNB, 96–97. Martin, R., Wörz, J. (2012). Competition and Inflation in Central, Eastern and Southeastern Europe: A Sectoral Analysis. Comparative Economic Studies, Vol. 54, 531–552, refereed. Mooslechner, P. (2012). Geld- oder Währungspolitik. In: Patrick Horvath, Herbert Skarke, Rupert Weinzierl (eds). Die „Vision Zentraleuropa“ im 21. Jahrhundert. Festschrift zum 90. Geburtstag von Heinz Kienzl, Vienna. Mooslechner, P., Stix, H., Wagner, K. (2012). The Use of Payment Instruments in Austria. A Study Based on Survey Data from 1996 to 2011. Monetary Policy & the Economy Q4/12, OeNB, 53–77. Nauschnigg, F. (2012). Polen: Keynesianisches Wirtschaftswunderland an der Weichsel. Die Presse, 14. Juni 2012, p. 31. Nauschnigg, F. (2012). Österreich ist ein Gewinner der EU- und IWF-Schutzschirme. Wiener Zeitung, 30 August 2012. Nauschnigg, F. (2012) Keine Währungs- sondern Banken- und Staatsschuldenkrise im Euro Raum. Wiener Zeitung, 23 November 2012. Nauschnigg, F. (2012). Ein überzeugter Europäer. In: Patrick Horvath, Herbert Skarke, Rupert Weinzierl (eds). Die „Vision Zentraleuropa“ im 21. Jahrhundert. Festschrift zum 90. Geburtstag von Heinz Kienzl. Vienna. Nowotny, E., Mooslechner, P., Ritzberger-Grünwald, D. (eds) (2012). European Integration in a Global Economy – CESEE and the Impact of China and Russia. Edward Elgar, Cheltenham, UK, Northampton, MA.

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Ragacs, C., Vondra, K. (2012). Austrian Economy Prevails in Bleak International Environment. Economic Outlook for Austria from 2012 to 2014 (June 2012). Monetary Policy & the Economy Q2/12, OeNB, 6–32. Ragacs, C., Vondra, K. (2012). Österreichs Wirtschaftsentwicklung. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2011/2012. Entwicklung und Strategie in der Krise, 61-77. Vienna: Facultas. Ramskogler, P. (2012). Is there a European Wage Leader? – Wage Spillovers in the European Monetary Union. Cambridge Journal of Economics, 36, 3, refereed. Raunig, B. (2012). Financial Markets and Real Ecomomic Activity. Monetary Policy & the Economy Q4/12, OeNB, 92–95. Riedl, A., Rocha-Akis, S. (2012). How Elastic are National Corporate Income Tax Bases in OECD Countries? The Role of Domestic and Foreign Tax Rates. Canadian Journal of Economics, 45(2), 632–671. Ritzberger-Grünwald, D., Scheiber T. (2012). Euro Cash in Central, Eastern and Southeastern Europe. Monetary Policy & the Economy Q1/12, OeNB, 41–55. Rumler, R. (2012). The Pass-Through of Commodity Prices to Consumer Prices of Selected Products. Monetary Policy & the Economy Q1/12, OeNB, 92–104. Rumler, F. Waschiczek, W. (2012). Have Changes in the Financial Structure Affected Bank Profitability? Evidence for Austria. OeNB Working Paper No. 180. Rülke, J.C., Silgoner, M., Wörz, J. (2012). Herding Behavior of Business Cycle Forecasters in Times of Economic Crises. WHU Working Paper Series in Economics WP 12/03. Schitter, C., Silgoner, M., Steiner, K., Wörz, J. (2012). Competition in the EU-15 Market: CESEE, China and Russia. In: Nowotny, E., Mooslechner, P., RitzbergerGrünwald, D. (eds). European Integration in a Global Setting: CESEE and the Impact of China and Russia. Edward Elgar, Cheltenham, UK, Northampton, MA, 91–105. Schneider, M., Schreiner, J., Silgoner, M. (2012). The Economy has Bottomed Out. Monetary Policy & the Economy Q1/12, OeNB, 5–21. Schreiner, J. (2012). Developments in Selected CESEE Countries: Heterogeneous Growth Performance, Improving Fiscal and External Accounts. Focus on European Economic Integration Q2/12, OeNB, 8–37. Slacík, T. (2012). 10th ESCB Emerging Markets Workshop. Focus on European Economic Integration Q4/12, OeNB, 98–103. Stiglbauer, A. (2012). Makroökonomische Ungleichgewichte im Euroraum. In: Gnan, E., Kronberger, R. (eds). Schwerpunkt Außenwirtschaft 2011/2012. Entwicklung und Strategie in der Krise, 181–198. Vienna: Facultas. Stix, H. (2012). Why Do People Save in Cash? Distrust, Memories of Banking Crises, Weak Institutions and Dollarization. OeNB Working Paper No. 178. Summer, M. (2012). Bank Supervision and Resolution: National and International Challenges. Summary of a Joint Workshop of CEPR, the University of Vienna and the OeNB. Financial Stability Report 22, 107–111. Wagner, K. (2012). Wie ist das Immobilienvermögen zwischen Verheirateten aufgeteilt? Statistiken – Daten & Analysen, Q3/12, 71–89. Walch, N., Wörz, J. (2012). The Impact of Country Risk Ratings and of the Status of EU Integration on FDI Inflows in CESEE Countries, Focus on European Economic Integration Q3/12, OENB, 8–26.

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Waschiczek, W. (2012). Finanzierungsbedingungen der Banken und Unternehmen leicht verschlechtert (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Jänner 2012). Statistiken – Daten & Analysen, Q1/12, 33–37. Waschiczek, W. (2012). Kreditrichtlinien der Banken zu Jahresbeginn unverändert (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im April 2012). Statistiken – Daten & Analysen, Q2/12, 38-41. Waschiczek, W. (2012). Leichte Verschärfung der Richtlinien für Kredite an Unternehmen und Haushalte (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Juli 2012). Statistiken – Daten & Analysen, Q3/12, 43-46. Waschiczek, W. (2012). Banken berichten weiterhin über Zurückhaltung bei Unternehmenskrediten (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Oktober 2012). Statistiken – Daten & Analysen, Q4/12, 71–74. Weber, B. (2012). Finanzbildung als Ausweg aus der Krise? In: Jahrbuch für Pädagogik 2012. Frankfurt: Peter Lang, 123–133. Wörz, J., (2012). Outlook for Selected CESEE Countries: Mixed External Environment Compounds Weak Domestic Demand. Focus on European Economic Integration, Q2/12, OeNB, 38–44.

2011 Andreasch, M., Fessler, P., Mooslechner, P., Schürz, M. (2011). Einkommen privater Haushalte auf Mikro- und Makroebene – HFCS versus VGR. Statistiken – Daten & Analysen, Q2/11, 54–68. Backé, P. (2011). Capital Account Liberalization in CESEE EU Member States, Candidate and Potential Candidate Countries. Unveröffentlichtes Papier für das International Relations Committee und (via IRC) für den G-20 Workstream zu Capital Flow Management Measures. Balling, M., Gnan, E. (2011). Regulation and Banking after the Crisis. SUERF Studies. Vienna and Brussels, Larcier, 2011/2. Barisitz, S. (2011). Nonperforming Loans in CESEE – What Do They Comprise? Focus on European Economic Integration, Q4/11, OeNB, 46–68. Beckmann, E., Scheiber, T., Stix, H. (2011). How the Crisis Affected Foreign Currency Borrowing in CESEE: Microeconomic Evidence and Policy Implications. Focus on European Economic Integration, Q1/11, OeNB, 25–43. Beckmann, E., Dvorsky, S., Scheiber, T. (2011). OeNB Euro Survey: Growing Uncertainty, but Overall Euroization Not Affected. Focus on European Economic Integration, Q4/11, OeNB, 88–99. Beer, C. (2011). Literature Review on the Economic Effects of the Euro on Austria. Monetary Policy & the Economy Q3/11, OeNB, 22–34. Benkovskis, K., Wörz, J. (2011). How Does Quality Impact on Import Prices? OeNB Working Paper No. 175. Benkovskis, K., Bessonovs, A., Feldkircher, M., Wörz, J. (2011). The Transmission of Euro Area Monetary Shocks to the Czech Republic, Poland and Hungary: Evidence from a FAVAR Model. Focus on European Economic Integration, Q3/11, 8–36. Bernhofer, D., Brait, R. (2011). Die Verteilungswirkung der Mineralölsteuer in Österreich, Wirtschaft & Gesellschaft 37(1), 69–94. Breitenfellner, A., Kuenzel, R. (2011). Accounting for Inflation Dynamics in the Euro Area. Quarterly Report on the Euro Area IV/2011, 28–33.

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Breitenfellner, A. (2011). Growth – Crisis – Change: How the Financial and Energy Crises Reveal the Need for Sustainable Development. In: Hinterberger, F., Freytag, E., Pirgmaier, E. and Schuster, M. (eds). Growth in Transition. Routledge, New York. Crespo Cuaresma, J., Eller, M., Mehrotra, A. (2011). The Economic Transmission of Fiscal Policy Shocks from Western to Eastern Europe. Focus on European Economic Integration Q2/11, OeNB, 44–68. Crespo Cuaresma, J., Eller, M., Mehrotra, A. (2011). The Economic Transmission of Fiscal Policy Shocks from Western to Eastern Europe. BOFIT Discussion Papers No. 12/2011, Bank of Finland, June 2011. Crespo Cuaresma, J., Fernandez Amador, O., Gächter, M. (2011). Die Währungsunion in der Finanzkrise und die Rolle der Fiskalpolitik. In: W. Hummer (ed.), Die Finanzkrise aus internationaler und österreichischer Sicht. Vom Rettungspaket für Griechenland zum permanenten Rettungsschirm für den Euro-Raum. Innsbruck: Studienverlag, 95–116. Crespo Cuaresma, J., Fidrmuc, J., Hake, M. (2011). Determinants of Foreign Currency Loans in CESEE Countries: A Meta-Analysis Focus on European Economic Integration, Q4/11, OeNB, 69–87. Crespo Cuaresma, J., Reitschuler, G., Silgoner, M. (2011). On the effectiveness and limits of fiscal Stabilizers. Applied Economics 43, 1079–1086. Csajbók, A., Gnan, E. (eds) (2011). The Future of Banking in CESEE after the Financial Crisis, SUERF Studies. Vienna and Brussels, Larcier 2011/1. Dreger, C., Fidrmuc, J. (2011). Drivers of Exchange Rate Dynamics in Selected CIS Countries: Evidence from a FAVAR Analysis. Emerging Markets Finance and Trade, 47(4), 49–58. Eichberger, J., Rheinberger, K., Summer, M. (2011). Credit Risk in General Equilibrium. OeNB Working Paper No. 172. Eller, M., Frömmel, M., Srzentic, N. (2011). What has Driven Private Sector Credit Developments in Central, Eastern, and Southeastern Europe? SUERF Studies 2011/1, Vienna and Brussels, Larcier, 41–59. Essl, S., Stiglbauer, A. (2011). Prevention and Correction of Macroeconomic Imbalances: the Excessive Imbalances Procedure. Monetary Policy & the Economy Q4/11, OeNB, 99–113. Fenz, G., Schneider, M. (2011). Transmission of Business Cycle Shocks between the US and the Euro Area. Applied Economics, 43(21), 2777–2795. Fenz, G., Schneider, M. (2011). Crisis of Confidence to Trigger Marked Slump in Growth in 2012. Economic Outlook for Austria from 2011 to 2013 (December 2011). Monetary Policy & the Economy Q4/11, OeNB, 5–29. Fenz, G,. Schreiner, J., Silgoner, M. (2011). Growth Weakens Worldwide. Monetary Policy & the Economy Q3/11, OeNB, 6–21. Fessler, P., Hinsch, S. (2011). Wie funktioniert Wirtschaft? Eine kritische Einführung. Promedia Verlag, Vienna. Fessler, P., Mooslechner, P., Schürz, M. (2011). Zur Messung des Pensionsvermögens im HFCS. Statistiken – Daten & Analysen, Q1/11, 37–47. Fidrmuc, J., Martin, R. (2011). FDI, Trade and Growth in CESEE Countries. Focus on European Economic Integration, Q1/11, OeNB, 70–89. Fidrmuc, J., Hake, M., Stix, H. (2011). Households’ Foreign Currency Borrowing in Central and Eastern Europe, OeNB Working Paper No. 171.

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Fillat Castejón, C., Wörz, J. (2011). Good or Bad? The Influence of FDI on Output Growth: An Industry-Level Analysis. Journal of International Trade and Economic Development, 20(3), 293–328. Francois, J., Wörz, J. (2011). Shifts in International Trade and Value Added from 1995 to 2007: Insights Into The Drivers of Growth, Focus on European Economic Integration Q3/11, OeNB, 37–56. Fritzer, F. (2011). Administered Prices, Inflation and the Business Cycle – Selected Aspects. Monetary Policy & the Economy Q1/11, OeNB, 41–57. Fritzer, F. (2011). Inflation Differentials between Austria, the Euro Area, Germany and Italy. Monetary Policy & the Economy Q2/11, OeNB, 31–42. Fuentes, A., Ramskogler, P., Silgoner, M.A. (2011). The Swiss Economy’s Resilience to Crisis and Its Lessons for Austria. Monetary Policy & the Economy, Q2/11, OeNB, 67– 86. Gächter, M., Theurl, E. (2011). The Austrian Health Care System. In: Himanshu Sekhar Rout (ed.), Health Care Systems: A Global Survey. New Delhi: New Century Publications, 77–102. Gardó, S. (2011). Preserving Macrofinancial Stability in Serbia: Past Legacies, Present Dilemmas and Future Challenges. Financial Stability Report 21, OeNB, 84–109. Giordano, R., Depalo, D., Coutinho Pereira, M., Eugène, B., Papapetrou, E., Perez, J., Reiss, L., Roter, M. (2011). The Public Sector Pay Gap in a Selection of Euro Area Countries. ECB Working Papers 1406. Gloggnitzer, S., Lindner, I. (2011). Economic Governance Reform and Financial Stabilization in the EU and in the Eurosystem – Treaty-Based and Intergovernmental Decisions. Monetary Policy & the Economy Q4/11, OeNB, 36–58. Gnan, E. (2011). Chapter 1: Introduction – The Future of Banking in CESEE after the Financial Crisis. SUERF Studies. Vienna and Brussels, Larcier, 2011/1. Gnan, E. (2011). Aktuelle wirtschaftliche Ungleichgewichte – eine Zentralbanksicht. Wirtschaftspolitische Blätter, Vienna, Manz, 3/2011, 501–518. Gnan, E. (2011). Monetary Policy after the Crisis. In: SUERF Newsletter, April 2011. Gnan, E., Pichler, P. (2011). The Future of European Integration: Some Economic Aspects. Key Findings of the OeNB’s 39th Annual Economic Conference. Monetary Policy & the Economy Q2/11, OeNB, 88–100. Gnan, E., Kokoszczynski, R., Lyziak, T., McCauley, R. (eds) (2011). Monetary Policy after the Crisis. SUERF Studies, Vienna and Brussels, Larcier, 2011/3. Gnan, E., Langthaler, J., Valderrama, M.T. (2011). Heterogeneity in Euro Area Consumers’ Inflation Expectations: Some Stylized Facts and Implications. Monetary Policy & the Economy Q2/11, OeNB, 43–66. Hajek-Rezaei, M. (2011). Chronology of European Initiatives in Response to the Crisis. Monetary Policy & the Economy Q4/11, OeNB, 125–134. Hauth, E. (2011). Verschuldungsregeln für Länder und Gemeinden: Nationale Fiskalregeln als Teil einer modernen „Governance-Haushaltsstruktur“. In: Biwald, P., Bußjäger, P., Pitlik H. und M. Schratzenstaller (eds). Koordinierung der Finanzpolitik im Bundesstaat. Stabilitätspolitik – Finanzausgleich – Verschuldungsgrenze. Vienna. 187–192. Hauth, E., Grossmann, B. (2011). Budgetentwicklung der Bundesländer in Österreich im Krisenjahr 2009 und Ausblick, Vienna. Holler, J., Reiss, L. (2011). What to Expect from the Latest Reform of the Stability and Growth Pact. Monetary Policy & the Economy Q4/11, OeNB, 85–98.

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Janssen, M., Pichler, P., Weidenholzer, S. (2011). Oligopolistic Markets with Sequential Search and Production Cost Uncertainty. The RAND Journal of Economics, Volume 42, Issue 3, 444–470. Köhler-Töglhofer, W. (2011). Editorial. Monetary Policy & the Economy Q4/11, OeNB, 32–35. Köhler-Töglhofer, W., Part, P. (2011). Macro Coordination under the European Semester. Monetary Policy & the Economy Q4/11, OeNB, 59–73. Kollmann, R., Maliar, S., Malin, B., Pichler, P. (2011). Comparison of Solutions to the Multi-Country Real Business Cycle Model. Journal of Economic Dynamics and Control 35(2), 186–202. Lahnsteiner, M. (2011). The Refinancing Structure of Banks in Selected CESEE Countries. Focus on European Economic Integration, Q1/11, OeNB, 44–69. Lerner, C. (2011). IMF Regional Economic Outlook for Europe: Navigating Stormy Waters. Focus on European Economic Integration Q4/11, OeNB, 117–119. Lindner, P. (2011). Decomposition of Wealth and Income using Micro Data from Austria, OeNB Working Paper No. 173. Mihailov, A., Rumler, F., Scharler, J. (2011). Inflation Dynamics in the New EU Member States: How Relevant Are External Factors? Review of International Economics 19(1), February, 65–76. Mihailov, A., Rumler, F., Scharler, J. (2011). The Small Open-Economy New Keynesian Phillips Curve: Empirical Evidence and Implied Inflation Dynamics. Open Economies Review, 19 (1), 317–337. Mooslechner, P. (2011). Kurt Rothschild und die Finanzkrise. Kurswechsel 2/2011, 63–71. Mooslechner, P. (2011). Stabile und sichere Finanzinstrumente. Wohnzeit Nr. 04/2011, 6. Mooslechner, P. (2011). Die ökonomische Rolle von Ratings und ihre Verwendung. In: Jarolim, H. (ed.), Kapitalmarkt unter Druck – und die Rolle der Ratingagenturen, Dialog im Parlament, 3, Vienna. Mooslechner, P. (2011). (Groß)Baustelle Europäische Finanzarchitektur: Eine vorläufige Zwischenbilanz in acht Schritten, ÖGZ 10/2011, 20–21. Mooslechner, P. (2011). Neue Europäische Finanzarchitektur: Eine Gleichung mit noch (zu) vielen Unbekannten?! Wirtschaftspolitik – Standpunkte 03/2011, AK Vienna, 6–8. Mooslechner, P. (2011). Challenges for Monetary and Exchange Rate Policy in CESEE Created by the Crisis: Back to Square One? In Nowotny, E., Mooslechner, P., Ritzberger-Gruenwald, D. (eds) (2011). Post-Crisis Growth and Integration in Europe – Catching-Up Strategies after the Crisis. Edward Elgar, Cheltenham, UK, Northampton, MA, 179–192. Mooslechner, P. (2011). Wie tragfähig ist der konjunkturelle Aufschwung? Sparkassenzeitung, März, 6. Nauschnigg, F. (2011). Strengthening the European Financial Architecture – IV ASTANA ECONOMIC FORUM, May ¾, 2011, http://www.aef.kz. Nauschnigg, F., Schieder, P. (2011). Crisis Financing in the EU. Monetary Policy & the Economy Q4/11, OeNB, 114–124. Nauschnigg, F. (2011). Growth-friendly Fiscal Consolidation. In Stabilising an Unequal Economy? Marburg :Metropolis-Verlag. Nauschnigg, F. (2011). Krisenbewältigung Schweiz und Österreich – Wirtschaftspolitische Aktionen korrigieren Marktversagen. FIW Policy Brief Nr. 13, November.

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Niemann, S., Pichler, P. (2011). Optimal Fiscal and Monetary Policies in the Face of Rare Disasters. European Economic Review 55(1), 75–92. Nowotny, E., Mooslechner, P., Ritzberger-Grünwald, D. (eds) (2011). Post-Crisis Growth and Integration in Europe – Catching-Up Strategies after the Crisis. Edward Elgar, Cheltenham, UK, Northampton, MA. Pichler, P. (2011). Solving the Multi-Country Real Business Cycle Model Using a Monomial Rule Galerkin Method. Journal of Economic Dynamics and Control 35(2), 240–251. Pointner, W., Wolner-Rößlhuber, K. (2011). European Financial Supervision: The Long Road to Reform. Monetary Policy & the Economy Q3/11, OeNB, 62–81. Polgar, E.K., Wörz, J. (2011). Trade with Central and Eastern Europe: Is it really a threat to wages in the West?, Danube Law and Economics Review I, 1–32. Prean, N., Stix, H. (2011). The Effect of Raising Deposit Insurance Coverage in Times of Financial Crisis – Evidence from Croatian Microdata. Economic Systems, 35, 496–511. Ragacs, C., Resch, B., Vondra, K. (2011). Austria’s Manufacturing Competitiveness. Monetary Policy & the Economy Q3/11, OeNB, 35–61. Ragacs, C., Vondra, K. (2011). Austria’s Economy Moves beyond the Crisis: Powerful Economic Growth Provides a Tailwind to Reduce Budget Deficits – Economic Outlook for Austria from 2011 to 2013 (June 2011). Monetary Policy & the Economy Q2/11, OeNB, 6–30. Ramskogler, P. (2011). Credit Money, Collaterall and the Solvency of Banks: A Post Keynesian Analysis of Credit Market Failure. Review of Political Economy. Raunig, B., Scharler, J. (2011). Stock Market Volatility, Consumption and Investment; An Evaluation of the Uncertainty Hypothesis Using Post-War U.S. Data. OeNB Working Paper No. 168. Raunig, B., Scheicher, M. (2011). A Value at Risk Analysis of Credit Default Swaps. Journal of Risk 13(4), 3–29. Reiss, L., Köhler-Töglhofer, W. (2011). Austria’s Tax Structure in International Comparison – A Statistical and Economic Analysis. Monetary Policy & the Economy Q1/11, OeNB, 21–40. Reiss L., Köhler-Töglhofer, W. (2011). Implications of the Crisis for Public Finances: The Case of Austria. In: Daniele Franco (ed.). Fiscal Policy: Lessons from the Crisis. Workshop and Conferences 6, Bank of Italy, Economic Research Department. Riedl, A., Schneider, M. Schreiner, J. (2011). Global Economy Continues to Recover in a Fragile Environment. Monetary Policy & the Economy Q1/11, OeNB, 6-20. Ritzberger-Grünwald, D., Silgoner, M. (2011). Conference on European Economic Integration 2011: European Integration in a Global Economic Setting – CESEE, China and Russia. Focus on European Economic Integration, Q4/11, OeNB, 102–112 Rumler, F., Baumgartner, J., Stiglbauer, A. (2011). Patterns and Determinants of Price Changes: Analysing Individual Consumer Prices in Austria. German Economic Review, 12(3), May, 336–350. Rumler, F., Scharler, J. (2011). Labor Market Institutions and Macroeconomic Volatility in a Panel of OECD Countries. Scottish Journal of Political Economy, 58(3), 396–413. Schreiner, J. (2011). Developments in Selected CESEE Countries: Gradual Recovery amid Rising Inflation and Some Fiscal Consolidation. Focus on European Economic Integration Q2/11, OeNB, 6–41.

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Schreiner, J. (2011). Developments in Selected CESEE Countries: Deteriorating External Demand and Rising Risk Aversion Increasingly Weigh on Growth in CESEE. Focus on European Economic Integration Q4/11, OeNB, 8–43. Schuberth, H. (2011). Financial Crisis and Inequality (2011), in: Niechoj, T., Onaran, Ö., Stockhammer, E., Truger, A., van Treeck, T. (eds). Stabilising an Unequal Economy? Public Debt, Financial Regulation, and Income Distribution, Marburg: Metropolis. Steiner, K. (2011). Households’ Exposure to Foreign Currency Loans in CESEE EU Member States and Croatia. Focus on European Economic Integration Q1/11, 6–24. Stix, H. (2011). Euroization: What Factors Drive its Persistence? Applied Economics, 43(21), 2689-2704. Stix, H. (2011). The Euro as a Safe Haven Asset in Central, Eastern and Southeastern Europe. In: Ewald Nowotny, Peter Mooslechner, Doris Ritzberger-Grünwald (eds). The Euro and Economic Stability – Focus on Central, Eastern and Southeastern Europe, 2010, Edwar Elgar: Cheltenham, UK, Nothampton MA, USA, p. 109–128. Stix, H. (2011). Does the Broad Public Want to Consolidate Public Debt? The Role of Fairness and of Policy Credibility. OeNB Working Paper No. 167. Summer, M. (2011). Bank Supervision and Resolution: National and International Challenges. Summary of a Joint Workshop of CEPR, the University of Vienna and the OeNB. Financial Stability Report 22, OeNB, 107–111. Von Kalckreuth, U., Schmidt, T., Stix, H. (2011). Using Cash to Monitor Liquidity – Implications for Payments, Currency Demand and Withdrawal Behavior. ECB Working Paper No. 1385. Wagner, K. (2011). Haben Mieter oder Eigentümer höhere Wohnkosten und wie stark sind ihre Einkommen dadurch belastet? Arbeiterkammer; Wirtschaft und Gesellschaft, 37. Jahrgang (2011), Heft 1, 139–148. Waschiczek, W. (2011). Weiterhin unveränderte Kreditvergabepolitik der österreichischen Banken (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Jänner 2011). Statistiken – Daten & Analysen, Q1/11, 33–36. Waschiczek, W. (2011). Kreditvergabeverhalten der Banken weiterhin stabil. ÖsterreichErgebnisse der euroraumweiten Umfrage über das Kreditgeschäft im April 2011. Statistiken – Daten & Analysen, Q2/11, 24–27. Waschiczek, W. (2011). Banken erwarten für 2012 aufgrund von „Basel III“ eine leichte Verschärfung der Kreditrichtlinien (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Juli 2011). Statistiken – Daten & Analysen, Q3/11, 39–43. Waschiczek, W. (2011). Erstmals seit zwei Jahren verschlechterter Finanzierungszugang für Banken und leichte Verschärfung der Unternehmenskreditrichtlinien (ÖsterreichErgebnisse der euroraumweiten Umfrage über das Kreditgeschäft im September 2011). Statistiken – Daten & Analysen, Q4/11, 60–63. Weber, B., Schmitz, S.W. (2011). Varieties of Helping Capitalism. Politico-economic Determinants of Bank Rescue Packages in the EU during the Recent Crisis. Socioeconomic Review 9/4, 638–669.

2010 Albacete, N., Fessler, P. (2010). Stress Testing Private Households in Austria. Financial Stability Report 19, OeNB, 72–91.

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Andreasch, M., Mooslechner, P., Schürz, M. (2010). Einige Aspekte der Vermögensverteilung in Österreich, in: Bundesministerium für Arbeit, Soziales und Konsumentenschutz (eds), Sozialbericht 2009 – 2010, Vienna, 233–260. Backé, P., Feldkircher, M., Gnan, E. and M. Lahnsteiner (2010). Contagion and Spillovers – New Insights from the Crisis. In: BankArchiv, July, 58. Jg., 449–451. Backé, P., Gallego, S., Gardó, S., Martin, R., Molina, L., Serena, J.M. (2010). How Did the Global Financial Crisis Affect the CESEE Region and Latin America? A Comparative Analysis. Focus on European Economic Integration Q1/10, OeNB, 49–66. Backé, P., Gnan, E., Hartmann, P. (eds) (2010). Contagion and Spillovers: New Insights from the Crisis. SUERF Studies 2010/5, Vienna & Brussels, Larcier. Barisitz, S., Lahnsteiner, M. (2010). From Stormy Expansion to Riding out the Storm: Banking Development in Kazakhstan. Financial Stability Report 19, OeNB, 62–71. Barisitz, S., Lahnsteiner, M. (2010). Russian Banks on the Route of Fragile Recovery. Financial Stability Report 20, OeNB, 77–85. Barisitz, S., Holzhacker, H., Lytvyn, O., Sabyrova, L. (2010). Crisis Response Policies in Russia, Ukraine, Kazakhstan and Belarus – Stock-Taking and Comparative Assessment. Focus on European Economic Integration Q4/10, OeNB, 48–77. Beer, C., Ongena, S., Peter, M. (2010). Borrowing in Foreign Currency: Austrian Households as Carry Traders. Journal of Banking and Finance 34, 2198–2211. Breitenfellner, A. et al. (2010). Energy Markets and the Euro Area Macroeconomy. Occasional Paper Series 113, European Central Bank. Breuer, T., Jandačka, M., Mencía, J., Summer, M., (2010). A Systematic Approach to Multiperiod Stress Testing of Portfolio Credit Risk. WP. No. 1018, Banco de España. Červená, M., Schneider, M. (2010). Short-Term Forecasting GDP with a DSGE Model Augmented by Monthly Indicators. OeNB Working Paper No. 163. Crespo Cuaresma, J., Geršl, A., Slacík, T. (2010). Could Markets Have Helped Predict the Puzzling Exchange Rate Path in CESEE Countries during the Current Crisis? Focus on European Economic Integration Q1/10, OeNB, 32–48. Crespo Cuaresma, J., Feldkircher, M. (2010). Spatial Filtering, Model Uncertainty and the Speed of Income Convergence in Europe. OeNB Working Paper No. 160. Crespo Cuaresma, J., Orthofer, A. (2010). Modeling and Predicting the EUR/USD Exchange Rate: The Role of Nonlinear Adjustments to Purchasing Power Parity. Monetary Policy & the Economy Q2/10, OeNB. Crespo-Cuaresma, J., Slacík, T. (2010). An “Almost-Too-Late” Early Warning Indicator for Currency Crises. Economics of Transition 18(1), 123–141. Crespo Cuaresma, J., Feldkircher, M., Mayerhofer, P. (2010). Regional Convergence in Europe and the Role of Urban Agglomerations. Focus on European Economic Integration Q3/10, OeNB, 64–78. Denisova, I., Eller, M., Zhuravskaya, E. (2010). What do Russians Think about Transition? Economics of Transition 18(2), 249–280. Dvorsky, S., Scheiber, T., Stix, H. (2010). Real Effects of Crisis Have Reached CESEE Households: Euro Survey Shows Dampened Savings and Changes in Borrowing Behaviour. Focus on European Economic Integration Q2/10, OeNB, 79–90. Dvorsky, S., Scheiber, T., Stix, H. (2010). Euro Survey of Spring 2010: Sovereign Debt Crisis Left Traces in CESEE Households’ Sentiment, Foreign Currency Portfolios Broadly Unchanged. Focus on European Economic Integration Q4/10, OeNB, 78–89.

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Eller, M., Frömmel, M., Srzentic, N. (2010). Private Sector Credit in CESEE: Long-Run Relationships and Short-Run Dynamics. Focus on European Economic Integration Q2/10, OeNB, 50–78. Elsinger, H. (2010). Independence Tests Based on Symbolic Dynamics. OeNB Working Paper No. 165. Elsinger, H., Summer, M. (2010). Bank Recapitalization and Restructuring: An Economic Analysis of Various Options. Monetary Policy & the Economy Q1/10, OeNB, 87–97. Elsinger, H., Summer, M. (2010). The Economics of Bank Insolvency, Restructuring and Recapitalization. Financial Stability Report 20, OeNB, 115–122. Fabiani, S., Galuscak, K., Kwapil, C., Lamo, A., Rööm, T. (2010). Wage Rigidities and Labor Market Adjustment in Europe. Journal of the European Economic Association, 8 (2–3), 497–505, refereed. Feldkircher, M. (2010). Forecast Combination and Bayesian Model Averaging – A Prior Sensitivity Analysis. Working Papers in Management and Economics 2010-14, University of Salzburg. Feldkircher, M., Zeugner, S. (2010). The Impact of Data Revisions on the Robustness of Growth Determinants – A Note on 'Determinants of Economic Growth. Will Data Tell?' Working Papers in Management and Economics 2010-12, University of Salzburg. Feldkircher, M., Martin, R., Wörz, J. (2010). Measuring Competition in CESEE: Stylized Facts and Determinants across Countries and Sectors. Focus on European Economic Integration Q3/10, OeNB, 38–62. Feldkircher, M., Martin, R., Wörz, J. (2010). The Intensity of Competition in Central, Eastern and Southeast Europe: Stylized Facts and Repercussions for Sectoral Price Developments. wiiw Monthly Report 8-9/10, 1–7. Fenz, G. Mayer, P., Schreiner, J. (2010). Global Economy Continues to Recover. Monetary Policy & the Economy Q3/10, OeNB, 6–24. Fenz, G., Schneider, M.( 2010). Recovery of the Austrian Economy Continues. Economic Outlook for Austria from 2010 to 2012 (December 2010). Monetary Policy & the Economy Q4/10, OeNB, 6–31. Fenz, G,. Schneider, M. (2010). Transmission of Business Cycle Shocks between the US and the Euro Area. Applied Economics, 1-17, iFirst. Fessler, P., Mooslechner, P., Schürz, M. (2010). Repräsentativität der ersten Welle des HFCS in Österreich. Statistiken, Q4/10, 48–62. Fessler, P., Mooslechner P., Schürz M. (2010). Zur Konzeption des Vermögens in der Erhebung des Eurosystems zu Finanzen und Konsum der privaten Haushalte, Statistiken, Q3/10, 40–55. Fessler, P., Schürz, M. (2010). Informationen zum kleinen Häuselbauer. In: Wirtschaft und Gesellschaft 02/10. Arbeiterkammer Wien. Fessler, P., Mooslechner, P., Schürz, M. (2010). Real Estate Inheritance in Austria. Monetary Policy & the Economy Q2/10, OeNB, 33–53. Fidrmuc, J., Hainz, C. (2010). Default Rates in the Loan Market for SMEs: Evidence from Slovakia. Economic Systems 34 (2), 133–147. Fidrmuc, J., Korhonen, I. (2010). The Impact of the Global Financial Crisis on Business Cycles in the Emerging Economies in Asia. Journal of Asian Economics 21 (3), 293– 303.

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Fidrmuc, J., Steinacher, S. (2010). OeNB Conference on European Economic Integration 2010 – Catching-Up Strategies after the Crisis. Focus on European Economic Integration, Q4/10, OeNB, 92–102. Fidrmuc, J., Horváth, R., Horváthová, E. (2010). Corporate Interest Rates and the Financial Accelerator in the Czech Republic. Emerging Markets Finance and Trade, vol. 46 (4), 41–54. Flandreau, M., Flores, J., Jobst, C. Khoudour-Castéras, D. (2010). Business Cycles 1870–1914. In: Broadberry, S., O’Rourke, R. (eds). Cambridge Economic History of Europe. Cambridge, Cambridge University Press. Fluch, M., Rumler, F., Wittenberger, T. (2010). Discount Pricing in Austria: Insights into Retail Business Practices and HICP Coverage. Monetary Policy & the Economy Q3/10, OeNB, 59–89. Francois, J., Wörz, J. (2010). Trade, Economic Structure and the Great Recession: The Example of Central, Eastern and Southeastern Europe, Focus on European Economic Integration Q1/10, OeNB, 67–72. Francois, J., Wörz, J. (2010). A Structural Decomposition of International Trade, wiiw Monthly Report 12/10, 1–7. Freitag, B., Schimka, B. (2010). Effects of the Payment Services Act on the Austrian Financial Market. Financial Stability Report 19, OeNB, 92–104. Gaggl, P., Valderrama, M.T. (2010). Does a Low Interest Rate Environment Affect Risk Taking in Austria? Monetary Policy & the Economy Q4/10, OeNB, 32–48. Gallego, S., Gardó, S. et al. (2010). The Impact of the Global Economic and Financial Crisis on CESEE and Latin America. Banco de España Occasional Paper No. 1002. Gallego, S., Gardó, S. et al. (2010). The Global Economic and Financial Crisis – A Comparative Assessment of its Impact on the CESEE Region and Latin America. SUERF Studies 2010/5, 235–268. Gardó, S. (2010). Bank Governance and Financial Stability in CESEE: A Review of the Literature. Focus on European Economic Integration Q1/10, OeNB, 6–31. Gardó, S. (2010). Croatia: Preserving Macrofinancial Stability in the Wake of the Global Crisis. Focus on European Economic Integration Q3/10, OeNB, 6–37. Gardó, S., Martin, R. (2010). The Impact of the Global Economic and Financial Crisis on Central, Eastern and South-Eastern Europe: A Stock-taking Exercise. ECB Occasional Paper No. 114, June. Gardó, S. et al. (2010). Financial Stability Challenges in EU Candidate Countries: Financial Systems in the Aftermath of the Global Financial Crisis. ECB Occasional Paper No. 115, July. Gnan, E. (2010). The Future of Banking in CESEE after the Financial Crisis – Conference Report SUERF and MNB Conference. In: SUERF Newsletter Summer 2010, 4-9. Gnan, E. (2010). Are Price Stability and Financial Stability Complementary or Contradictory Mandates? Four Issues. In: Oesterreichische Nationalbank, Central Banking after the Crisis. Proceedings of the OeNB’s 38th Economic Conference 2010, Vienna. Gnan, E. (2010). Regulation and Banking after the Crisis. Some insights from a conference jointly organised by SUERF and the Central Bank and Financial Services Authority of Ireland, Dublin, 20 September 2010. BankArchiv, November 2010. Gnan, E., Kaufmann, S. (2010). Central Banking after the Crisis: Responsibilities, Strategies, Instruments – Summary of the 38th Economics Conference. Monetary Policy & the Economy Q2/10, OeNB, 78–89.

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Gnan, E., Langthaler, J., Valderrama, M.T. (2010). Shocks, the Crisis and Uncertainty about Future Inflation: Theory and Evidence for the Euro Area. Monetary Policy & the Economy Q1/10, OeNB, 26–52. Grossmann, B. (2010). Neue Rahmenbedingungen für die Nachhaltigkeit öffentlicher Finanzen Österreichs. In: Bauer, H., Pitlik, H., Schratzenstaller, M. (eds). Demografischer Strukturwandel als Herausforderung für die öffentlichen Finanzen. Neuer Wissenschaftlicher Verlag: Vienna. Grossmann, B., Hauth, E. (2010). Infrastrukturinvestitionen: Ökonomische Bedeutung, Investitionsvolumen und Rolle des öffentlichen Sektors in Österreich. Studie im Auftrag des Staatsschuldenausschusses, Vienna. Grossmann, B., Hauth, E. (2010). Infrastrukturinvestitionen in Österreich als wirtschaftspolitisches Steuerungsinstrument der öffentlichen Hand. In: Wirtschaftspolitische Blätter, Heft 4/2010 'Wachstum & Nachhaltigkeit'. Janger, J., Schmidt-Dengler, Ph. (2010). The Relationship between Competition and Inflation. Monetary Policy & the Economy Q1/10, OeNB, 53–65. Janger, J. (2010). Determinants of Price Comparison and Supplier Switching Rates in Selected Sectors, Monetary Policy & the Economy Q1/10, OeNB, 66–86. Jobst, C. (2010). Gouverner une banque centrale décentralisée: l’exemple austro-hongrois, 1847–1914. In: Feiertag, O., Margairaz, M. (eds). Gouverner une banque centrale. Paris: Albin Michel. Kaufmann, S. (2010). Comment to: The role of monetary aggregates in the policy analysis of the Swiss National Bank, by Jürgen Wolters and Gebhard Kirchgässner. 2010, Swiss Journal of Economics and Statistics 146, 255–267. Kaufmann, S. (2010). Dating and Forecasting Turning Points by Bayesian Clustering with Dynamic Structure – A Suggestion with an Application to Austrian Data. Journal of Applied Econometrics 25(2), March, 309–344. Kaufmann, S., Kugler, P. (2010). A Monetary Real-time Conditional Forecast of Euro Area Inflation. Journal of Forecasting 29(4), July, 388–405. Kaufmann, S., Scharler, J. (2010). Bank-Lending Standards, the Cost Channel and Inflation Dynamics. OeNB Working Paper No. 164. Kaufmann, S., Valderrama, M.T. (2010). The Role of Credit Aggregates and Asset Prices in the Transmission Mechanism: A Comparison between the Euro Area and the US. The Manchester School 78 (4). 345–377. Kavan, S., Sedlacek, G., Seliger, R., Ubl, E. (2010). Assessing the Relevance of Austrian Investment Companies and Mutual Funds for Financial Stability. Financial Stability Report 19, OeNB, 105–119. Keppel, C., Wörz, J. (2010). The Impact of the Global Recession in Europe: The Role of International Trade., In: Backé, P., Gnan, E., Hartmann, P. (eds). Contagion and Spillovers: New Insights from the Crisis. SUERF Studies 2010/5, Vienna & Brussels, Larcier. Kichian, M., Rumler, F., Corrigan, P. (2010). Semi-Structural Models for Inflation Forecasting. Bank of Canada Working Paper 2010-34. Knell, M. (2010). How Automatic Adjustment Factors Affect the Internal Rate of Return of PAYG Pension Systems. Journal of Pension Economics and Finance 9(1), January 2010, 1–23. Knell, M. (2010). The Optimal Mix between Funded and Unfunded Pensions Systems When People Care About Relative Consumption. Economica 308 (77), October, 710– 733.

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Knell, M. (2010). Nominal and Real Wage Rigidities. In Theory and in Europe. OeNB Working Paper No. 161. Knell, M., Stix, H. (2010). Das Vertrauen in das Bankensystem während der Finanzkrise. Ökonomenstimme (http://www.oekonomenstimme.org/artikel/2010/05/das-vertrauenin-das-bankensystem-waehrend-der-finanzkrise/). Köhler-Töglhofer, W., Reiss, L. (2010). Inflation als wirksames Mittel zur Reduktion der öffentlichen Schuldenquote? Wirtschaftspolitische Blätter 2/2010, 117–132. Kopp, E., Ragacs, C., Schmitz S.W. (2010). The Economic Impact of Measures Aimed at Strengthening Bank Resilience – Estimates for Austria. Financial Stability Report Financial Stability Report 20, OeNB, 86–114. Kwapil, C. (2010). Firms' Reactions to the Crisis and their Consequences for the Labour Market. Results of a Company Survey conducted in Austria. Working Paper No.1274, European Central Bank. Kwapil, C. (2010). Firms’ Reactions to the Crisis and their Consequences for the Labour Market. Results of a Company Survey Conducted in Austria. OeNB Working Paper No. 166. Kwapil, C., Scharler, J. (2010). Interest Rate Pass-Through, Monetary Policy Rules and Macroeconomic Stability. Journal of International Money and Finance, 29, 236–251, refereed. Kwapil, C., Scharler, J., Baumgartner, J. (2010). How Are Prices Adjusted in Response to Shocks? Survey Evidence from Austrian Firms. Managerial and Decision Economics, 31, 151–160, refereed. Martin, R. (2010). Boom and Bust in the Baltic Countries – Lessons to be Learnt. Intereconomics - Review of European Economic Policy (45) 4, July/August. Mooslechner, P. (2010). Reform der Finanzmärkte. FIW Policy Brief Nr.7, September, 1– 11. Mooslechner, P. (2010). Regulare necesse est: Wo stehen wir heute? Sparkassenzeitung, Dezember. Nauschnigg, F. (2010). Zwei Weltwirtschaftskrisen im Vergleich, Österreichs Außenwirtschaft 2009. Kompetenzzentrum Forschungsschwerpunkt Internationale Wirtschaft (FIW). Nauschnigg, F. (2010). Six Ways to Avoid Boom and Bust. The Banker – Financial Times Business, ‘How To Run A Bank 2010’. Nauschnigg, F. (2010). Growth-friendly Fiscal Consolidation. ETUI Policy Brief, Issue 4/2010 http://www.etui.org/research/Media/Files/EEEPB/2010/4-2010. Nauschnigg, F. (2010). Stärkung der Europäischen Finanzarchitektur, Österreichs Außenwirtschaft 2010. Kompetenzzentrum Forschungsschwerpunkt Internationale Wirtschaft (FIW). Nauschnigg, F. (2010). Better European financial architecture to prevent crises, ETUI 2010, After the crisis: towards a sustainable growth model Nauschnigg, F. (2010). Stronger European Financial Architecture, Euro 50 Group Roundtable – European Economic Governance, March 2010, www.euro50.org Nowotny, E., Mooslechner, P., Ritzberger-Grünwald, D. (eds) (2010). The Euro and Economic Stability: Focus on Central, Eastern and South-Eastern Europe. Edward Elgar, Cheltenham, UK, Northampton, MA. Orthofer, A., Schreiner, J., Vondra, K. (2010). Recovery of the Global Economy in the Second Half of 2009. Monetary Policy & the Economy Q1/10, OeNB, 6–25.

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Pointner, W., Stiglbauer, A. (2010). Changes in the Austrian Structure of Wages, 1996– 2002: Evidence from Linked Employer-employee Data. Empirica (37) 105–125. Pointner, W., Stiglbauer, A. (2010). Changes in the Wage Distribution in Austria: An Analysis Based on the European Structure of Earnings Survey Data. Monetary Policy & the Economy Q3/10, OeNB, 45–58. Polgár, É.K., Wörz, J. (2010). Trade with Central and Eastern Europe: Is it Really a Threat to Wages in the West?, ECB Working Paper No. 1244, September. Polgar, E.K., Wörz, J. (2010). No Risk and Some Fun: Trade and Wages in the Enlarged European Union. Empirica 37(2), 27–164. Ragacs, C., Vondra, K. (2010). Subdued Economic Recovery given Necessary Fiscal Consolidation – Economic Outlook for Austria from 2010 to 2012. Monetary Policy & the Economy Q2/10, OeNB. Raunig, B., Scharler, J. (2010). Stock Market Volatility and the Business Cycle. Monetary Policy & the Economy Q2/10, OeNB. Riedl, A. (2010). Location factors of FDI and the growing services economy: Evidence for transition countries. Economics of Transition 18 (4), 741–761. Ritzberger-Grünwald, D. (2010). Der Euro in einem erweiterten Europa – Wechselkursregime in der Krise? Österreichs Außenwirtschaft 2010, Forschungsschwerpunkt Internationale Wirtschaft FIW, 235–255, December. Ritzberger-Grünwald, D., Wörz, J. (2010). Wechselkurse und österreichischer Außenhandel, FIW-Policy Brief Nr. 5, Forschungsschwerpunklt Internationale Wirtschaft. Rumler, F., Valderrama, M.T. (2010). Comparing the New Keynesian Phillips Curve with Time Series Models to Forecast Inflation. North American Journal of Economics and Finance 21 (2010), 126–144. Rumler, F. Waschiczek, W. (2010). The Impact of Economic Factors on Bank Profits. Monetary Policy & the Economy, Q4/10, 49–67. Schuberth, H. (2010). Lessons from the Crisis in Finland and Sweden in the 1990s. A Comment to Jaakko Kiander and Pentti Vartia. In: Empirica 4/2010. Stiglbauer, A. (2010). The Austrian Labor Market and the Great Recession: Developments and Measures Taken. Monetary Policy & the Economy Q3/10, OeNB, 25–44. Stix, H. (2010). The Euro as a Safe Haven Asset in Central, Eastern and South-Eastern Europe. In: Nowotny, E., Mooslechner, P., Ritzberger-Grünwald, D. (eds) (2010). The Euro and Economic Stability: Focus on Central, Eastern and South-Eastern Europe. Cheltenham, UK, Northampton, MA, Edward Elgar. Stix, H., Summer, M. (2010). Technological Change in the Field of Payment Instruments – Long-Term Implications for Monetary and Competition Policies. Monetary Policy & the Economy Q3/10, OeNB, 92–97. Vetlov, I., Félix, R.M., Frey, L., Hlédik, T., Jakab, Z., Papadopoulou, N., Reiss, L., Schneider, M. (2010). The Implementation of Scenarios using DSGE Models. Bank of Lithuania Working Paper Series 8/2010. Waschiczek, W. (2010). Stabilisierung der Kreditpolitik der österreichischen Banken (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Jänner 2010). In: Statistiken – Daten & Analysen Q1/2010, 39–42. Waschiczek, W. (2010). Zur Abschwächung der Kredite an den privaten Sektor. In: Österreichische Sparkassenzeitung 97 (3), March.

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Waschiczek, W. (2010). Banken erwarten leichte Lockerung der Richtlinien für Unternehmenskredite (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im April 2010). In: Statistiken – Daten & Analysen Q2/2010, 29–32. Waschiczek, W. (2010). Rückläufige Ersparnisbildung der privaten Haushalte. In: Österreichische Sparkassenzeitung 97 (7–8), August. Waschiczek, W. (2010). Erste Lockerung der Richtlinien für Unternehmenskredite seit Beginn der Krise (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Juli 2010). In: Statistiken – Daten & Analysen Q3/2010, 36–39. Waschiczek, W. (2010). Kreditpolitik der Banken hat sich stabilisiert (ÖsterreichErgebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Oktober 2010). In: Statistiken – Daten & Analysen Q4/2010, 44–47.

2009 Albacete, N., Wagner, K. (2009). Housing Finance in Austria – Evidence from the HSHW 2008. Monetary Policy & the Economy Q3/09, Vienna, OeNB, 62–92. Andreasch, M., Fessler, P., Schürz M. (2009). Austrian Households’ Equity Capital – Evidence from Microdata. Monetary Policy & The Economy Q4/09, OeNB, 61–78. Arestis, Ph., Mooslechner, P., Wagner, K. (2009). Housing Market Challenges in Europe and the United States – Any Solutions Available? Palgrave Macmillan. Arestis, Ph., Mooslechner, P., Wagner, K. (2009). Introduction: Housing Market Challenges in Europe. In: Arestis, Ph., Mooslechner, P., Wagner, K. (2009). Housing Market Challenges in Europe and the United States – Any Solutions Available? Palgrave Macmillan, 1–14. Backé, P. (2009). The Monetary Integration of CESEE EU Member States: Achievements and Prospects. Focus on European Economic Integration, Special Issue, OeNB, 73–81. Backé, P., Schardax, F. (2009). European and Non-European Emerging Market Currencies: Forward Premium Puzzle and Fundamentals. Focus on European Economic Integration Q2/09, OeNB, 56–66. Badinger, H. (2009). Fiscal Rules, Discretionary Fiscal Policy and Macroeconomic Stability: An Empirical Assessment for OECD Countries. Applied Economics, 41(7), 829–847. Badinger, H. (2009). Output Volatility and Economic Growth. Economics Letters 106(1), 15–18. Badinger, H. (2009). Globalization, the Output-Inflation Tradeoff, and Inflation. European Economic Review, 53(8), 888–907. Badinger, H. (2009). Globalization, Taylor Rules and Inflation. Applied Economics Letters, 17(3), 263–267. Badinger, H., Breuss, F. (2009). Country Size and the Trade Effects of the Euro. Weltwirtschaftliches Archiv, 145(2), 202–223. Badinger, H., Egger, P. (2009). Horizontal versus Vertical Interdependence in Multinational Activity. Oxford Bulletin of Economics and Statistics 72(6), 744–768. Badinger, H., Maydell, N. (2009). Legal and economic issues in completing the EU Internal Market for services: an interdisciplinary perspective. Journal of Common Market Studies, 47(4), 693–717. Balassone, F., Cunha, J., Langenus, G., Manzke, B., Pavot, J., Prammer, D., Tommasino, P. (2009). Fiscal Sustainability Indicators and Policy Implications for the

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Euro Area. In: Banca d’Italia Workshop Series on Public Finance, Banca d’Italia, ECZ Working Paper. Balling, M., Gnan, E., Lierman, F., Schoder, J.P. (eds) (2009). Productivity in the Financial Sector, SUERF Studies 2009/4, Vienna. Balling, M., Bernet, B., Gnan, E. (eds) (2009). Financing SMEs in Europe. SUERF Studies, 2009/3, Vienna. Barisitz, S. (2009). Banking Transformation 1980–2006 in Central and Eastern Europe – From Communism to Capitalism. South-Eastern Europe Journal of Economics (SEEJE), no. 2/2009, 61–80.. Barisitz, S. (2009). Russian Banking in Recent Years: Gaining Depth in a Fragile Environment. SUERF Studies 2/2009, 43–85. Barisitz, S. (2009). Macrofinancial Developments and Systemic Change in CIS Central Asia. Focus on European Economic Integration Q3/09, OeNB, 38–61. Barisitz, S., Ebner, G., Lahnsteiner, M., Pann, J. (2009). Banking and Financial Stability in Russia and the Euro Area amid International Financial Market Turbulences. Financial Stability Report 17, OeNB, 123–142. Barisitz, S., Eller, M., Keppel, C. (2009). SUERF Workshop and Special OeNB East Jour Fixe Current Trends in the Russian Financial System. Focus on European Economic Integration Q1/09. Barisitz, S., Gardó, S. (2009). Banking Sector Transformation in CESEE. Focus on European Economic Integration, Special Issue, OeNB, 92–100. Barisitz, S., Lahnsteiner, M. (2009). Investor Commitment Tested by Deep Crisis: Banking Development in Ukraine. Financial Stability Report 18, OeNB, 67–75. Beckmann, E., Fidrmuc, J., (2009). Oil Price Shock and Structural Changes in CMEA Trade. Pouring Oil on Troubled Waters? Working Paper No. 12, University of Munich. Böck, N., Hameter, M., Waschiczek, W. (2009). Indikatoren für das Kreditangebot im Unternehmensbereich. Österreichisches Bank-Archiv 57(4), 286–298. Böheim, R., Stiglbauer, A., Winter-Ebmer, R. (2009). On the Persistence of Job Creation in Old and New Firms. Economics Letters 105, 17–19. Boss, M., Fenz, G., Pann, J., Puhr, C., Schneider, M., Ubl, E. (2009). Modeling Credit Risk through the Austrian Business Cycle: An Update of the OeNB Model. Financial Stability Report Nr. 17, 92–108. Brandner, P., Grech, H. (2009). EU Representation at the IMF – A Voting Power Analysis. Monetary Policy & the Economy Q3/09, OeNB, 93–126. Brandner, P., Diebalek, L., Köhler-Töglhofer, W. (2009). Budget Balances Decomposed – Tracking Fiscal Policy in Austria. In: Larch, M. (ed.). Fiscal Policy Making in the European Union. An Assessment of Current Practice and Challenges. Routledge, USA. Breitenfellner, A. (2009). The Euro’s Contribution to Economic Stability in CESEE – Conference on European Economic Integration 2009. Focus on European Economic Integration Q4/09, OeNB, 98–108. Breitenfellner, A. (2009). Wachstum – Krise – Wandel: Überlegungen zur wirtschaftlichen Nachhaltigkeit aus Anlass von Finanz-, Rohstoff- und Klimakrise. In: Hinterberger, F., Hutterer, H., Omann, I., Freytag, E. (eds). Welches Wachstum ist nachhaltig? Ein Argumentarium. Mandelbaum Verlag, Vienna. 95–125. Breitenfellner, A., Crespo Cuaresma, J., Keppel, C. (2009). Determinants of Crude Oil Prices: Supply, Demand, Cartel or Speculation? Monetary Policy & the Economy Q4/09, OeNB, 111–136.

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Breitenfellner, A., Schneider, M., Schreiner, J. (2009). Global Recession Deepens – Financial Crisis Unleashes Global Economic Downturn. Monetary Policy & the Economy Q1/09, OeNB, 10–28. Breuer, T., Jandačka, M., Rheinberger, K., Summer, M. (2009). Does Adding Up of Economic Capital for Market- and Credit Risk Amount to Conservative Risk Assessment? Journal of Banking and Finance, 34(4), 703–712. Breuer, T., Jandačka, M., Rheinberger, K., Summer, M. (2009). How to Find Plausible, Severe and Useful Stress Scenarios. International Journal of Central Banking, 205–233. Chaloupek, G., Mooslechner, P. (2009). Editorial: Dimensionen der Ungleichheit – Einleitende Überlegungen zum Thema. Proceedings of OeNB Workshops No. 16, 5–8. Crespo Cuaresma, J., Doppelhofer, G., Feldkircher, M. (2009). Economic Growth Determinants for European Regions: Is Central and Eastern Europe Different? Focus on European Economic Integration Q3/09, OeNB, 22–37. Crespo Cuaresma, J., Feldkircher, M. Slacík, T. Wörz, J. (2009). Simple but Effective: The OeNB’s Forecast Model for Selected CESEE Countries. Focus on European Economic Integration Q4/09, OeNB, 84–95. Crespo-Cuaresma, J., Slacík, T. (2009). On the Determinants of Currency Crises: The Role of Model Uncertainty. Journal of Macroeconomics 31(4), 621–632. Delle Chiaie, S. (2009). A Survey on Monetary Policy and Potential Output Uncertainty. Monetary Policy & the Economy Q3/09, OeNB, 53–61. Delle Chiaie, S. (2009). The Sensitivity of DSGE Models’ Results to Data Detrending. OeNB Working Paper 157. Denisova, I., Eller, M., Frye, T., Zhuravskaya, E. (2009). Who Wants To Revise Privatization? The Complementarity of Market Skills and Institutions. American Political Science Review 103(2), 284–304. Dhyne, E., Konieczny, J., Rumler, F., Sevestre, P. (2009). Price Rigidity in the Euro Area – An Assessment. European Economy, Economic Papers 380, European Commission. Dreger, C., Fidrmuc, J. (2009). Drivers of Exchange Rate Dynamics in Selected CIS Countries: Evidence from a FAVAR Analysis. Discussion Paper No. 867, German Institute for Economic Research, Berlin. Dvorsky, S. (2009). Central Banks in Transition: Legal and Institutional Challenges on the Way to EU Integration. Focus on European Economic Integration, Special Issue, OeNB, 82–91. Dvorsky, S., Scheiber, T., Stix, H. (2009). The 2008 Fall Wave of the OeNB Euro Survey – A First Glimpse of Households' Reactions to the the Financial Crisis. Focus on European Economic Integration Q2/09, OeNB, 67–77. Dvorsky, S., Scheiber, T., Stix, H. (2009). CESEE Households amid the Financial Crisis: Euro Survey Shows Darkened Economic Sentiment and Changes in Savings Behavior. Focus on European Economic Integration Q4/09, 71–83. Eller, M. (2009). Fiscal Position and Size of Automatic Stabilizers in the CESEE EU Member States – Implications for Discretionary Measures. Focus on European Economic Integration Q2/09, OeNB, 78–85. Elsinger, H. (2009). Financial Networks, Cross Holdings, and Limited Liability. OeNB Working Paper 156. Fenz, G., Pointner, W., Schreiner, J. (2009). Edging Out of Recession. Monetary Policy & the Economy Q3/09, 6–25.

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Fenz, G., Schneider, M. (2009). Synchronisation of Business Cycles of Germany and Austria. Proceedings of OeNB Workshops No. 14, 142–162. Fenz, G., Schneider, M. (2009). A Leading Indicator of Austrian Exports Based on Truck Mileage. Monetary Policy & the Economy Q1/09, OeNB, 44–52. Fenz, G., Schneider, M. (2009). Sluggish Economic Recovery – Conditions in the Labor Market Remain Strained – Economic Outlook for Austria from 2009 to 2011 (December 2009). Monetary Policy & the Economy Q4/09, OeNB, 6–32. Fessler, P., Mooslechner, P., Schürz, M. (2009). Stichprobenziehung bei Erhebungen zu den Finanzen privater Haushalte im Euroraum. Statistiken – Daten & Analysen Q2/09, 51–62. Fessler, P., Mooslechner, P., Schürz, M. (2009). Interviewtechniken bei Erhebungen zu den Finanzen privater Haushalte im Euroraum. Statistiken – Daten & Analysen Q4/09, OeNB, 66–77. Fessler, P., Mooslechner, P., Schürz, M. (2009). Statistische Herausforderungen der Forschung zu Finanzen privater Haushalte im Euroraum. Statistiken – Daten & Analysen Q1/09, OeNB, 57–66. Fessler, P., Mooslechner, P., Schürz, M., Wagner, K. (2009). Housing and Financial Wealth in Austria: What Can Survey Data Tell Us for the Analysis of Financial Stability Issues? In: Arestis, Ph., Mooslechner, P., Wagner, K. (2009). Housing Market Challenges in Europe and the United States – Any Solutions Available? Palgrave Macmillan, 239–263. Fessler, P., Mooslechner P., Schürz M., Wagner K. (2009). Housing Wealth of Austrian Households. Monetary Policy & the Economy Q2/09, OeNB, 104–124. Fidrmuc, J., Bask, M. (2009). Fundamentals and Technical Trading: Behavior of Exchange Rates in the CEECs. Open Economies Review, 20(5), 589–605. Fidrmuc, J. (2009). Gravity Models in Integrated Panels. Empirical Economics, 37(2), 435–446. Fidrmuc, J., (2009). Money Demand and Disinflation in Selected CEECs. Applied Economics 41 (10), 1259–1267. Fidrmuc, J., Fidrmuc, J. (2009). Foreign Languages and Trade Working Paper No. 7228, CEPR London. Fidrmuc, J., Fidrmuc, J. (2009). Foreign Languages and Trade. Working Paper No. 0914, Brunel University London, Department of Economics and Finance. Fidrmuc, J., Hainz, C. (2009). Financial Integration and Banking Regulation: CrossBorder Lending in Germany. Research Paper No. 2009-46, Paolo Baffi Centre, Bocconi University, Milano. Fidrmuc, J., Hainz, C. (2009). Default Rates in the Loan Market for SMEs: Evidence from Slovakia. Working Paper No. 72, ifo Institute for Economic Research Munich. Fidrmuc, J., Hainz, C. (2009). Grenzüberschreitende Kreditvergabe: Das Beispiel von Deutschland und Österreich. ifo Schnelldienst 23, 2008, 25–29. Fidrmuc, J., Hainz, C. (2009). Integrating with Their Feet: Cross-Border Lending at the German-Austrian Border. Discussion Papers 248, SFB/TR 15 Governance and the Efficiency of Economic Systems, 2008, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. Fidrmuc, J., Hainz, C. (2009). Default Rates in the Loan Market for SMEs: Evidence from Slovakia. Economic Systems. Fidrmuc, J., Horváth, R., Horváthová, E. (2009). Corporate Interest Rates and the Financial Accelerator in the Czech Republic.Emerging Markets Finance and Trade.

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Fidrmuc, J., Kaufmann, S., Resch, A. (2009). Structural Breaks in Austrian Foreign Trade with Eastern Europe During the Early 1970s. Empirica 35, 2008, 465–479. Fidrmuc, J., Korhonen, I. (2009). The Impact of the Global Financial Crisis on Business Cycles in the Emerging Economies in Asia. Journal of Asian Economics. Fidrmuc, J., Korhonen, I. (2009). The Impact of the Global Financial Crisis on Business Cycles in Asian Emerging Economies. Working Paper No. 11, BOFIT, Helsinki. Fidrmuc, J., Korhonen, I. (2009). The Impact of the Global Financial Crisis on Business Cycles in Asian Emerging Economies. Working Paper No. 2710, CESifo Munich. Fidrmuc, J., Süß, P.J. (2009). The Outbreak of the Russian Banking Crisis: What a Surprise!’ Working Paper No. 16, University of Munich. Flandreau, M., Jobst, C. (2009). The Empirics of International Currencies: Network Externalities, History and Persistence. Economic Journal 119(537), 643–664. Flandreau, M., Galimard C., Jobst, C., Nogues Marco, P. (2009). The Bell Jar: Commercial Interest Rates between Two Revolutions, 1688–1789. In: Atack, J., Neal, L. (eds). The Origin and Development of Financial Markets and Institutions from the Seventeenth to Twenty-First Century. Cambridge: Cambridge University Press. 161– 208. Flandreau, M., Galimard, C., Jobst, C., Nogues Marco, P. (2009). Monetary Geography before the Industrial Revolution. Cambridge Journal of Regions, Economy and Society 2(2), 149–171. Francois, J., Wörz, J. (2009). Service Sector Linkages: The Role of Service in Manufacturing. In: International Trade & Domestic Growth: Determinants, Linkages and Challenges. Proceedings of OeNB Workshops No. 14, 124–141. Francois, J., Wörz, J. (2009). Non-Linear Panel Estimation of Import Quotas: The Evolution of Quota Premiums Under the ATC. Journal of International Economics, 78(1), 181–191. Francois, J., Wörz, J. (2009). Follow the bouncing ball – trade and the great recession redux, VoxEU-Article, November 27. Francois, J., Wörz, J. (2009). The big drop: Trade and the Great Recession, VoxEUArticle, May 2. Fritzer, F., Glatzer, E. (2009). Group-Specific Inflation Rates for Austrian Households. Monetary Policy & the Economy Q1/09, OeNB, 102–117. Gaggl, P. (2009). The Role of Exchange Rate Movements for Prices in the Euro Area. Monetary Policy & the Economy Q2/09, OeNB, 83–103. Gaggl, P., Janger, J. (2009). Will the Great Recession Lead to a Lasting Impact on Potential Output in Austria? Monetary Policy & the Economy Q3/09, OeNB, 26–52. Gardo, S., Martin, R. (2009). Impact of Financial Crisis on CESEE Member States: Vulnerabilities, Capital Flows and Banking Sector. Slovenian Banking Journal 58 (11). 66–76. Gnan, E. (2009). Energy, Commodity and Food Price Volatility: What Policy Responses? In: CESifo Forum 10(1), Spring, 21–28. Gnan, E., Raunig, B. (2009). Beyond the Crisis: Economic Policy in a New Macroeconomic Environment – Summary of the 37th Economics Conference. Monetary Policy & the Economy Q2/09, OeNB, 126– 141. Gnan, E., Scharler, J., M.A. Silgoner (2009). Inflation Expectations: Role and Measurement for Monetary Policy. Monetary Policy & the Economy Q2/09, OeNB, 41– 67.

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Grossmann, B. (2009). Ansätze zur Verbesserung des kommunalen Schulden- und Risikomanagements in Österreich. In: Wirtschaftspolitische Blätter, Heft 3/2009 'Finanzkrise', 465–478. Grossmann, B., Hauth, E. (2009). Kommunales Risikomanagement und aufsichtsbehördliche Kontrolle in Österreich. Studie im Auftrag des Staatsschuldenausschusses, Vienna. Grossmann, B., Janger, J., Reiss, L. (2009). Fiscal and Structural Policy Challenges Created by the Economic Crisis of 2008–2009. Monetary Policy & the Economy Q4/09, OeNB, 33–60. Hauth, E. (2009). Informationsgehalt der Landesrechnungsabschlüsse: Eine kritische Analyse. In: Das öffentliche Haushaltswesen in Österreich. 3–4/2009. Hauth, E. (2009). Aktuelle Regeln und Anwendungen des Haushaltswesens in den Bundesländern: Eine kritische Analyse. Studie im Auftrag des Staatsschuldenausschusses, Vienna. Janger, J. (2009). Rahmenbedingungen. Ihre Bedeutung für Innovation und Wechselwirkung mit der österreichischen Innovationspolitik. Arbeitspaket 1 der Systemevaluierung des österreichischen Forschungsförderung und -finanzierung. Vienna: WIFO. Janger, J., Reinstaller, A. (2009). Innovation: Anreize, Inputfaktoren und Output im Spiegel der österreichischen Wirtschaftsstruktur. WIFO Monatsberichte 8, Vienna, 603– 318. Jobst, C. (2009). Monetary Policy Implementation during the Crisis in 2007 to 2008. Monetary Policy & the Economy Q1/09, OeNB, 53–77. Jobst C. (2009). Market Leader: the Austro-Hungarian Bank and the Making of Foreign Exchange Intervention, 1896–1913. European Review of Economic History 13(3), 287– 318. Kamps, C., Leiner-Killinger, N., Martin, R. (2009). The Cyclical Impact of EU Cohesion Policy in Fast-Growing EU Countries. Intereconomics 44(1), 23–29. Kaufmann, S. (2009). Dating and Forecasting Turning Points by Bayesian Clustering with Dynamic Structure – A Suggestion with an Application to Austrian data. Journal of Applied Econometrics. Kaufmann, S. Kugler, P. (2009). A Monetary Real-time Conditional Forecast of Euro Area Inflation. Journal of Forecasting, John Wiley & Sons. Kaufmann, S., Scharler J. (2009). Financial Systems and the Cost Channel Transmission of Monetary Policy Shocks. Economic Modelling, 26(1), 40–46. Kaufmann, S., Valderrama, M.T. (2009). The Role of Credit Aggregates and Asset Prices in the Transmission Mechanism: A Comparison between the Euro Area and the US. The Manchester School. Knell, M. (2009). The Work-and-Spend Cycle in a Globalized World. Economics Bulletin, 29(1), 492–499. Knell, M., Stiglbauer, A. (2009). The Impact of Reference Norms on Inflation Persistence When Wages are Staggered. ECB Working Paper 1047 and OeNB Working Paper 153. Knell, M., Stiglbauer, A. (2009). Wage Staggering and Wage Leadership in Austria – Review and Implications. Monetary Policy & the Economy Q4/09, OeNB, 79–97. Knell, M., Stix, H. (2009). Trust in Banks? Evidence from Normal Times and from Times of Crises. OeNB Working Paper 158. Köhler-Töglhofer, W., Reiss, L. (2009). The Effectiveness of Fiscal Stimulus Packages in Times of Crisis. Monetary Policy & the Economy Q1/09, OeNB, 78–99.

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Köhler-Töglhofer, W. (2009). Pension Reform and Labour Markets. Banca d’Italia, Workshop Series. Kronberger, R., Landesmann, M., Mooslechner, P. (2009). Global Integration and the Importance of Trade for Growth. OeNB Workshop Series No.14, 5–16. Kwapil, C. (2009). Actual Implications of the Current Economic Crisis for Austrian Enterprises – Results of a Company Survey. Monetary Policy & the Economy Q4/09, OeNB, 98–110. Kwapil, C. (2009). Responses of Austrian Firms to a Decline in Demand – Results of a Company Survey. Monetary Policy & the Economy Q2/09, OeNB, 68–82. Kwapil, C., Scharler, J. (2009). Expected Monetary Policy and the Dynamics of Bank Lending Rates. OeNB Working Paper 149. Martin, R., Winkler, A. (2009). Real Convergence in Central, Eastern and South-Eastern Europe. Palgrave Macmillan. Martin, R., Zauchinger, C. (2009). Recent Developments in the Baltics and Southeastern European Countries with Low Nominal Exchange Rate Flexibility. Proceedings of OeNB Workshops No. 15, 10–47. Martin, R., Mooslechner, P., Ritzberger-Gruenwald, D. (eds) (2009). Editorial. Recent Developments in the Baltic Countries – What Are the Lessons for Southeastern Europe? Proceedings of OeNB Workshops, No. 15, Vienna, 5–9. Mehrotra, A., Slacík, T. (2009). Evaluating Inflation Determinants with a Money Supply Rule in Four Central and Eastern European EU Member States. Focus on European Economic Integration Q3/09, OeNB, 6–21. Mihailov, A., Rumler, F., Scharler, J. (2009). The Small Open-Economy New Keynesian Phillips Curve: Empirical Evidence and Implied Inflation Dynamics. Open Economies Review, 19 (1), 65–76. Mihailov, A., Rumler, F., Scharler, J. (2009). Inflation Dynamics in the New EU Member States: How Relevant Are External Factors? University of Linz Economics Working Paper No. 0913. Mooslechner, P. (2009). Das österreichische Bankensystem in der globalen Finanz- und Wirtschaftskrise. In: Frasl, E., Haiden, A., Taus, J. (eds). Österreichs Finanzsystem. Vienna. Mooslechner, P. (2009). DIE Krise, DIE Banken und DIE Geldpolitik: Ausgewählte Aspekte einer Zwischenbilanz der Krise im Jahr t+2. Wirtschaftspolitische Blätter, Nr.3, 2009, 213–231. Mooslechner, P. (2009). Ende der Zinspolitik heißt nicht Ende der Geldpolitik – Auch wenn die Zinspolitik ausgereizt ist, bleibt ein respektables Instrumentarium, Sparkassenzeitung, May. Mooslechner, P. (2009). Das Geldvermögen der privaten Haushalte in Österreich. In: Washietl, E., Pfisterer, E. (eds). Gerechtigkeit – um die rechte Führung des Lebens. LIT-Verlag, 57– 74. Mooslechner, P. (2009). Editorial: Individuum, Finanzkrise und Gesellschaft. In: Mooslechner, P., Redak, V., Schürz, M., Springler, E. (eds). Auf der Suche nach dem Selbst – Individuum, Finanzkrise und Gesellschaft, Marbach. Mooslechner, P. (2009). “Masters of the Universe” oder: Wie das Finanzsystem die ganze Welt an den Rand einer neuen Weltwirtschaftskrise gesteuert hat. In: Mooslechner, P., Redak, V., Schürz, M., Springler, E. (eds). Auf der Suche nach dem Selbst – Individuum, Finanzkrise und Gesellschaft, Marbach.

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Mooslechner, P., Gnan, E. (2009). Editorial. Monetary Policy & the Economy Q1/09, OeNB, 5–8. Mooslechner, P., Redak, V., Schürz, M., Springler, E. (eds) (2009). Auf der Suche nach dem Selbst – Individuum, Finanzkrise und Gesellschaft, Marbach. Mooslechner, P., Ritzberger-Grünwald, D. (2009). Taking Stock of Twenty Years of Analysis and Research on CESEE at the OeNB. Focus on European Economic Integration, Special Issue, OeNB, 7–13. Mooslechner, P., Schürz, M. (2009). Verteilung der Geldvermögen. In: Sozialbericht 2007–2008. Bundesministerium für soziale Sicherheit und Generationen, 275–288. Mooslechner, P., Schürz, M., Wagner, K. (2009). The Distribution of Financial Assets in Austria – Some Selected Results of the OeNB Survey of Household Financial Wealth 2004. Irving Fisher Committee on Central Bank Statistics, ifc Bulletin No. 30, 67–76. Mooslechner, P., Wagner, K. (2009). Housing Markets in Europe and in the USA: What Are the Relevant Issues Today? In: Arestis, Ph., Mooslechner, P., Wagner, K. (2009), 15–39. Nauschnigg, F. (2009). Die EU-Erweiterung bringt allen Gewinn. Institut für den Donauraum und Mitteleuropa (IDM), Info Europa Spezial, 3-2009. Nauschnigg, F. (2009). Der Euro als Schutzschirm in der Finanzkrise. Wirtschaftspolitische Blätter, Sonderausgabe EU-Integration, Juni. Nauschnigg, F. (2009). Some Lessons from the Icelandic Crisis for the Rest of Us. Eurointelligence. http://www.eurointelligence.com/article.581+M520fdd2ba1f.0.html Nauschnigg, F. (2009). Bekämpfung der Inflationsursachen, insbesondere der Nahrungsmittelpreisinflation. Wirtschaft und Gesellschaft 35(2). Nauschnigg, F. (2009). Krisenbekämpfung in einer globalisierten Welt – auf dem Weg in eine neue Finanzordnung. Wiener Blätter zur Friedensforschung, Juni/2/2009. Nowotny, E., Mooslechner, P., Ritzberger-Grünwald, D. (eds) (2009). The Integration of European Labour Markets. Cheltenham, UK, Northampton, MA, Edward Elgar. Pointner, W. (2009). The Distributional Effects of Trade on Austrian Wages. Focus on European Economic Integration Q1/09, OeNB, 36–56. Pointner, W., Schmidt-Dengler, P. (2009). The OeNB’s Conference on European Economic Integration 2008 – The Integration of European Labor Markets. Focus on European Economic Integration Q1/09, OeNB, 104–107. Polgar, E.K., Wörz, J. (2009). Trade and Wages: Winning and Losing Sectors in the Enlarged European Union. Focus on European Economic Integration Q1/09, OeNB, 6– 35. Posch, M., Schmitz, S. Weber, B., (2009). EU Bank Packages: Objectives and Potential Conflicts of Objectives. Financial Stability Report 17, OeNB, 63–84. Prammer, D. (2009). Public Sector Outsourcing: Creative Accounting or a Sustainable Improvement? – A Case Study for Austria. Monetary Policy & the Economy Q1/09, OeNB, 118–135. Ragacs, C., Vondra, K. (2009). Austria’s Exports to Eastern Europe: Facts and Forecasts Likely Impact of Slowing Exports on Growth in Austria. Monetary Policy & the Economy Q1/09, OeNB, 29–43. Ragacs, C., Vondra, K. (2009). Austria’s Economic Activities in CESEE. Focus on European Economic Integration, Special Issue, OeNB, 66–72. Ragacs, C., Vondra, K., Wörz, J. (2009). Economic Crisis Unleashes Deep Recession in Austria – Stabilization Expected at Year-End. Economic Outlook for Austria from 2009 to 2011 (June 2009). Monetary Policy & the Economy Q2/09, OeNB, 6–40.

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Ramskogler, P. (2009). Post-Keynesian Economics – How to Move Forward. European Journal of Economics and Economic Policies: Intervention. Raunig, B., Scharler, J. (2009). Money Market Uncertainty and Retail Interest Rate Fluctuations: A Cross-Country Comparison. German Economic Review, 10(2), 176– 192. Raunig, B., Scheicher, M. (2009). Are Banks Different? Evidence from the CDS Market. OeNB Working Paper 152. Reininger, T. (2009). Factors Driving Import Demand in Central and Eastern European EU Member States. Proceedings of OeNB Workshops No. 14, 163–183. Ritzberger-Grünwald, D. (2009). Banking in CEE – Past Success Stories. Current Black Clouds. Future Silver Linings? BIATEC – Banking Journal of the National Bank of Slovakia. Narodna Banka Slovenska, Vol. 17, August. Ritzberger-Grünwald, D., Wörz, J. (2009). Macroconvergence in CESEE. Focus on European Economic Integration, Special Issue, OeNB, 56–65. Rumler, F., Scharler, J. (2009). Labor Market Institutions and Macroeconomic Volatility in a Panel of OECD Countries, ECB Working Paper No. 1005. Scheiber, T., Stix, H. (2009). Euroization in Central, Eastern and Southeastern Europe – New Evidence On Its Extent and Some Evidence On Its Causes. OeNB Working Paper 159. Schmidbauer, I., Schürz, M. (2009). Paris Hilton oder Christl Stürmer – Ergebnisse von Gruppendiskussionen zu Reichtum. In: Mooslechner, P., Redak, V., Springler, E., Schürz, M. (eds). Auf der Suche nach dem Selbst – Finanzmärkte, Individuum und Gesellschaft. Metropolis Verlag. Schneider, M., Ragacs, C. (2009). Why Did We Fail to Predict GDP During the Last Cycle? A Breakdown of Forecast Errors for Austria. OeNB Working Paper 151. Schneider, M., Fenz, G. (2009): Business Cycle Fluctuations in the US and the Euro Area: Comovement and Shock Transmission. In: INFER conference proceedings. Schürz, M. (2009). Verdienen Reiche was sie verdienen? In: Kurswechsel 1, 31–40. Schürz, M. (2009). Reichtum – Spuren im Nebel. WISO, 32(2) 53–69. Schürz, M., Schlager, C. (2009). Dimensionen sozialer Ungleichheit. Proceedings of OeNB Workshops No. 16, 9–27. Schürz, M., Schwaiger, M.S., Übeleis, J. (2009). A Review of the Impact of the Crisis on Austria’s Financial Sector. Financial Stability Report 17, OeNB, 54–62. Slacík, T. (2009). Exchange Rate Regime-Related Risks in Transition Countries. Südwestdeutscher Verlag für Hochschulschriften, January. Springler, E., Wagner, K. (2009). Determinants of Homeownership Rates: Housing Finance and the Role of the State. In: Arestis, Ph., Mooslechner, P., Wagner, K. (2009), Housing Market Challenges in Europe and the United States – Any Solutions Available? Palgrave Macmillan, 60–84. Stehrer, R., Wörz, J. (2009). Industrial Diversity, Trade Patterns and Productivity Convergence. Review of Development Economics, 13(2), 356–372. Stehrer, R., Wörz, J. (2009). Attract FDI! – A Universal Golden Rule? The European Journal of Development Research 21(1), 95–111. Stix, H. (2009). Perceived Inflation and the Euro: Evidence from an Austrian Survey. European Journal of Political Economy 25(2009), 547–561. Stix, H. (2009). Euroization: What Factors Drive its Persistence? Household Data Evidence for Croatia, Slovenia and Slovakia. Applied Economics 43(21), 2689–2704.

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Wagner, K., Zottel, S. (2009). Die OeNB-Immobilienvermögenserhebung 2008 der privaten Haushalte – Beschreibung, verwendete Methoden und Bewertungsansätze. Statistiken – Daten & Analysen Q4/09, 45–65. Waschiczek, W. (2009). Finanzmarktkrise erschwert Kreditzugang von Unternehmen. (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Oktober 2008) In: Statistiken – Daten & Analysen Q1/09, 41–44. Waschiczek, W. (2009). Vermögenseinkommen der privaten Haushalte. Statistiken – Daten & Analysen Q1/09, 45–56. Waschiczek, W. (2009). Weiterhin expandierende Unternehmenskredite. Österreichische Sparkassenzeitung 96 (4), April. Waschiczek, W. (2009). Kreditvergabe an Unternehmen etwas weniger restriktiv. (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im April 2009). Statistiken – Daten & Analysen Q2/09, 63–67. Waschiczek, W. (2009). Die Bedeutung von Anleihen als Instrument der Unternehmensfinanzierung in Österreich. Österreichische Sparkassenzeitung 96 (7-8), August. Waschiczek, W. (2009). Banken bleiben bei der Kreditvergabe an Unternehmen zurückhaltend. (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Juli 2009). Statistiken – Daten & Analysen Q3/09, 53–56. Waschiczek, W. (2009). Zur Entwicklung der Haushaltskredite in Österreich. Österreichische Sparkassenzeitung 96 (11), November. Waschiczek, W. (2009). Keine weitere Verschärfung der Kreditpolitik der österreichischen Banken. (Österreich-Ergebnisse der euroraumweiten Umfrage über das Kreditgeschäft im Oktober 2009). Statistiken – Daten & Analysen Q4/09, 31–34. Weber, B. (2009). Krise der Finanzmärkte, Krise der Risikoindividualisierung. Prokla 39/154, 141–159. Weber, B. (2009). Krisenbearbeitung durch Finanzmarktregulierung? Vier Anmerkungen zur aktuellen Reformdebatte. WISO 3/32, 53–65. Weber, B. (2009). Wege zum Finanzbildungsbürgertum. Theorien der Popularisierung des Finanzwesens im Vergleich. In: Mooslechner, P., Redak, V., Schürz, M., Springler, E. (eds). Auf der Suche nach dem Selbst. Finanzmärkte, Individuum und Gesellschaft. Marburg, 109–127. Wörz, J., C. Fillat Castejón, C., Francois, J. (2009). Cross-Border Trade and FDI in Services. CEPR Discussion Paper No. 7074, Centre for Economic Policy Research, London. Zumer, T., Égert, B., Backé, P. (2009). Credit Developments in Central, Eastern and South-Eastern European countries: From Boom to Bust or Back to Balance? Slovenian Banking Journal, 94–101.

2008 Arratibel, O., Furceri, D., Martin, R. (2008). Real Convergence in Central and Eastern European EU Member States: Which Role for Exchange Rate Volatility? ECB Working Paper 929. Backé, P., Nauschnigg, F. (2008). Global Market Disruptions – Will Global Imbalances Unwind? Monetary Policy & the Economy Q3/08, OeNB, 113–119. Backé, P., Wójcik, C. (2008). Credit Booms, Monetary Integration and the New Neoclassical Synthesis. Journal of Banking & Finance.

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Balling, M., Gnan, E., Lubochinsky, C. (eds) (2008). Monetary Policy, Regulation and Volatile Markets. SUERF Studies, 4/2008. Balling, M., Gnan, E., Lubochinsky, C. (eds) (2008). Asset Management in Volatile Markets. SUERF Studies, 5/2008. Bátorová, I. Fidrmuc, J. Korhonen, I. (2008). New Global Players and Disharmonies in the World Orchestra: Cohesion Analysis of Business Cycles of China. In: Rusek, A, Lacina, L., Fidrmuc, J. (Eds) The Economic Performance of the European Union: Issues, Trends and Perspectives, Palgrave Macmillan, New York, 241–253. Bátorová, I., Fidrmuc, J., Korhonen, I. (2008). China in the World Economy: Dynamic Correlation Analysis of Business CyclesWorking Paper No. 7, Institute for Economies in Transition (BOFIT), Bank of Finland, Helsinki. Bátorová, I., Fidrmuc, J., (2008). China in the World Economy: Dynamic Correlation Analysis of Business Cycles. United Nations University, World Institute for Development Economic Research (UNU WIDER), Research Paper No. 2, Helsinki. Backé, P., Gárdo, S., et al. (2008). Financial Stability Challenges in Candidate Countries – Managing the Transition to Deeper and More Market-Oriented Financial Systems. ECB Occasional Paper No. 95, September. Barisitz, S. (2008). Paths of Monetary Transition and Modernization: Exchange Rate Regimes and Monetary Policy in Southeastern Europe Including Turkey from the 1990s to 2006. Workshops No. 13, OeNB, 349–387. Barisitz, S., Gardó, S. (2008). Financial Sector Development in Serbia: Closing Ranks with Peers. Focus on European Economic Integration 2/08, OeNB, 94–119. Bellak, C., Leibrecht, M., Riedl, A., (2008). Labour Costs and FDI-Flows into Central and Eastern European Countries: A Survey of the Literature and Empirical Evidence. Structural Change and Economic Dynamics 19 (1), 17–37. Böheim, R., Stiglbauer, A., Winter-Ebmer, R. (2008). On the Persistence of Job Creation in Old and New Firms. Department of Economics Johannes Kepler University of Linz, Working Paper No. 0804, 1–26. Boss, M., Fenz, G., Krenn, G., Pann, J., Puhr, C., Scheiber, T., Schmitz, S.W., Schneider, M., Ubl, E. (2008). Stress Tests for the Austrian FSAP Update 2007: Methodology, Scenarios and Results. Financial Stability Report 15, OeNB, 68–92. Breitenfellner, A., Crespo Cuaresma, J. (2008). Crude Oil Prices and the USD/EUR Exchange Rate. Monetary Policy & the Economy Q4/08, OeNB, 102–121. Breitenfellner, A., Crespo Cuaresma, J. (2008). Crude Oil Prices and the Euro-Dollar Exchange Rate: A Forecasting Exercise. Working Papers from the Faculty of Economics and Statistics, University of Innsbruck. Breitenfellner, A., Crespo Cuaresma, J., Mooslechner, P., Ritzberger-Grünwald, D. (2008). The Impact of EU Enlargement in 2004 and 2007 on FDI and Migration Flows – Gravity Analysis of Factor Mobility. Monetary Policy & the Economy Q2/08, OeNB, 101–120. Breitenfellner, A., Hildebrandt, A. (2008). High Employment with Low Productivity? The Service Sector as a Determinant of Economic Development. In: Rashmi, J. (ed.) Issues and Experiences in Service Sector Growth (reprint of OeNB 2006), 66–99. Breuer, T., Jandačka, M., Rheinberger, K., Summer, M. (2008). Is Current Capital Regulation Based on Conservative Risk Assessment? Financial Stability Report 15, OeNB, 112–118. Breuer, T., Jandačka, M., Rheinberger, K., Summer, M. (2008). Regulatory Capital for Market and Credit Risk Interaction: Is Current Regulation always Conservative?

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Deutsche Bundesbank Discussion Paper, Series 2, Banking and Financial Studies, No. 14. Breuer, T., Jandačka, M., Rheinberger, K., Summer, M. (2008). Compounding Effects between Market and Credit Risk: The Case of Variable Rate Loans. In: Resti, A. (ed.) The Second Pillar in Basel II and the Challenge of Economic Capital, Risk Books, London. Breuer, T., Jandačka, M., Rheinberger, K., Summer, M. (2008). Hedge the Stress. Using Stress Tests to Design Hedges for Foreign Currency Loans. In: Roesch, D., Scheule, H. (eds). Stress-Testing for Financial Institutions – Applications, Regulations and Techniques. Risk Books, London. Cipollone, P., De Mulder, J., Gómez-Salvador, R., Lacuesta, A., Leiner-Killinger, N., Masuch, K., McCarthy, Y., Novo, A., Nikolitsas, D., Ravanel, M., Schaumann, H., Stahl, H., Stiglbauer, A., Stovicek, K., Strauch, R., Turunen, J., WardWarmedinger, M. (2008). Labour Supply and Employment in the Euro Area Countries – Developments and Challenges, Occasional Paper Series No. 87, European Central Bank, June. Crespo Cuaresma, J., Ritzberger-Grünwald, D., Silgoner, M. (2008). Growth, Convergence and EU Membership. Applied Economics 40(5), 643–656. Crespo Cuaresma, J., Fidrmuc, J., Silgoner, M. (2008). Fundamentals, the Exchange Rate and Prospects for the Current and Future EU Enlargements: Evidence from Bulgaria, Croatia, Romania and Turkey. Empirica 35, 195–211. Crespo Cuaresma, J., Gnan, E. (2008). Four Monetary Policy Strategies in Comparison: How to Deal with Financial Instability? Monetary Policy & the Economy Q3/08, OeNB, 65–102. Crespo Cuaresma, J., Slacík, T. (2008). Determinants of Currency Crises: A Conflict of Generations? Focus on European Economic Integration 1/08, OeNB, 126–141. Dvorsky, S. (2008). Central Bank Independence in Southeastern Europe with a View to EU Integration. International Journal of Monetary Economics and Finance, 1(3), 302– 328. Dvorsky, S., Scheiber, T., Stix, H. (2008). Euroization in Central, Eastern and Southeastern Europe – First Results from the New OeNB Euro Survey. Focus on European Economic Integration 1/08, OeNB, 48–60. Dvorsky, S., Scheiber, T., Stix, H. (2008). The OeNB Euro Survey in Central, Eastern and Southeastern Europe – The Spring Wave 2008. Focus on European Economic Integration 2/08. OeNB, 83–93. Egert, B., Martin, R. (2008). Real Estate, Construction and Growth in Central and Eastern Europe: Impact on Competitiveness? Focus on European Economic Integration 2/08, OeNB, 52–72. Égert, B., Morales-Zumaquero, A. (2008). Exchange Rate Regimes, Foreign Exchange Volatility and Export Performance in Central and Eastern Europe: Just Another Blur Project? Review of Development Economics 12(3), pp. 577–593. Eller, M. Haiss, P., Steiner, K. (2008). Foreign Banks in Central Europe: Do They Contribute to Economic Development. In: Chadraba, P., Springer, R (eds). Business Strategies for Economies in Transition. Book of Readings on CEE Countries, Cambridge Scholars Publishing, Ltd., 342–363. Felderer, B., Grossmann, B., Hauth, E. (2008). Verwaltungsreformen in Österreich: Stand und Perspektiven. In: Platzer, R., Pilz, D., Hink, R. (eds). So managen wir Österreich. Der neue Finanzausgleich und seine Folgen. Vienna.

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Fenz, G., Fessler, P. (2008). Wealth Effects on Consumption in Austria. Monetary Policy & the Economy, Q4/08, OeNB, 68–84. Fenz, G., Haar-Stöhr, I., Silgoner, M.A. (2008). Global Economic Downturn Persists – Crisis in Financial and Real Estate Markets Dampens Growth. Monetary Policy & the Economy Q2/08, OeNB, 6–20. Fenz, G., Schneider, M. (2008). Financial Crisis and Spike in Commodity Prices Dampen Growth and Fuel Inflation Economic Outlook for Austria from 2008 to 2010 (June 2008). Monetary Policy & the Economy Q2/08, OeNB, 6–33. Fenz, G., Schneider, M. (2008). Transmission of Business Cycle Shocks between the US and the Euro Area. Working Paper 145, OeNB. Fessler, P., Mooslechner, P. (2008). Arme Schuldner – Reiche Schuldner? Haushaltsverschuldung und Geldvermögen privater Haushalte auf Basis von Mikrodaten. Intervention, European Journal of Economics and Economic Policies, 5(1), 31–45. Fessler, P., Mooslechner P., Schürz M. (2008). How Inheritances Relate to Wealth Distribution? Theoretical Reasoning and Empirical Evidence on the Basis of LWS Data. Luxembourg Wealth Study, Working Paper Series, Working Paper No. 6, June. Fessler, P., Schürz, M. (2008). Stock Holdings in Austria. Monetary Policy & the Economy Q2/08, OeNB, 83–100. Fidrmuc, J., Artis, M., Scharler, J. (2008). The Transmission of Business Cycles: Implications for EMU Enlargement. Economics of Transition 16(3), 559–582. Fidrmuc, J., Bussière, M., Schnatz, B. (2008). EU Enlargement and Trade Integration: Lessons from a Gravity Model. Review of Development Economics 12(3), 501–515. Fidrmuc, J., Hainz, C. (2008). Integrating with Their Feet: Cross-Border Lending at the German-Austrian Border. Working Paper No. 2279, CESifo Munich. Fidrmuc, J., Horváth, R., Horváthová, E. (2008). Corporate Interest Rates and the Financial Accelerator in the Czech Discussion Papers in Economics No. 7191, University of Munich, Department of Economics. Fidrmuc, J., Kaufmann, S., Resch, A. (2008). Structural Breaks in Austrian Foreign Trade with Eastern Europe During the Early 1970s. Empirica 35(5), 465–479. Francois, J., Wörz, J. (2008). Producer Services, Manufacturing and Trade. Journal of Industry, Competition and Trade 8, 199–229. Fritzer, F., Gnan, E., Köhler-Töglhofer, W., Rumler, F., Stiglbauer, A. (2008). Current Inflation Developments in Austria. Monetary Policy & the Economy Q1/08, OeNB, 20– 47. Fritzer, F., Reiss, F. (2008). An Analysis of Credit to the Household Sector in Austria. Financial Stability Report 16, OeNB, 122–134. Frühwirth-Schnatter, S., Kaufmann, S. (2008). Model-Based Clustering of Multiple Time Series. Journal of Business & Economic Statistics, 26(1), 78–89. Gardó, S. (2008). Croatia: Coping with Rapid Financial Deepening. Focus on European Economic Integration 1/08, OeNB, 61–81. Gardó, S., Hildebrandt, A., Walko, Z. (2008). Walking the Tightrope: A First Glance on the Impact of the Recent Global Financial Market. Turbulence on Central, Eastern and Southeastern Europe. Financial Stability Report 15, OeNB, 119–140. Gloggnitzer, S. (2008). The Treaty of Lisbon, Amendments to the EU Treaties and their consequences for EMU. Monetary Policy & the Economy Q1/08, OeNB, 70–87. Gnan, E., Gudmundsson, M. (eds) (2008). Commodities, Energy and Finance. SUERF Studies 2008/2, Vienna.

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Gnan, E., Mooslechner, P. (2008). The Impact of the Financial Crisis on the Real Economy in Austria – Analytical Challenges from Exceptional Factors. Monetary Policy & the Economy Q4/08, OeNB, 5–7. Gnan, E., Summer, M. (2008). Toward the First Decade of Economic and Monetary Union – Summary of the 36th Economics Conference. Monetary Policy & the Economy Q2/08, 122–133. Grossmann, B. (2008). The Importance of Lease Financing for Austrian Municipalities. Monetary Policy & the Economy Q1/08, OeNB, 48–69. Grossmann, B., Hauth, E., Wimmer, G. (2008). Struktur und Tragfähigkeit der Staatsverschuldung sowie Schuldenstrukturpolitik Österreichs. Studie im Auftrag des Staatsschuldenausschusses, Vienna. Hildebrandt, A., Silgoner, M.A. (2008). The Competitiveness Challenge: EU Member States in International Trade. Janger, J. (2008). Supply-Side Triggers for Inflation in Austria. Monetary Policy & the Economy Q2/08, OeNB, 34–69. Janger, J., Pechar, H. (2008). Organisatorische Rahmenbedingungen für die Entstehung und Nachhaltigkeit wissenschaftlicher Qualität an Österreichs Universitäten. WIFOMonographien. Jobst, C., Kwapil, C. (2008). The Interest Rate Pass-Through in Austria – Effects of the Financial Crisis. Monetary Policy & the Economy, Q4/08, OeNB, 54–67. Kaufmann, S. (2008). Dating and Forecasting Turning Points by Bayesian Clustering with Dynamic Structure: A Suggestion with an Application to Austrian Data. Working Paper 144, OeNB. Kaufmann, S., Kugler, P. (2008). Does Money Matter for Inflation in the Euro Area? Contemporary Economic Policy 26(4), p. 590–606. Kaufmann, S. Valderrama, M.T. (2008). Bank Lending in Germany and the UK: Are there Differences between a Bank-Based and a Market-Based Country? International Journal of Finance and Economics, 13(3), 266–279. Köhler-Töglhofer, W., Liebscher, K. (2008). Steuerreform im Dienste der Wachstumsund Beschäftigungsförderung. In: Gesellschaft & Politik, Zeitschrift für soziales und wirtschaftliches Engagement 3/08. Köhler-Töglhofer, W., Liebscher, K. (2008). Langfristiges Wachstum und Fiskalpolitik. In: Urnik, S., Fritz-Schmied, G., Kanduth-Kristen, S. (eds). Festschrift. Lacina, L., Fidrmuc, J. Rusek, A., (2008). The Economic Performance of the European Union: Issues, Trends and Perspectives. Palgrave Macmillan, New York. Liebscher, K., Christl, J., Mooslechner, P., Ritzberger-Grünwald, D. (eds) (2008). Currency and Competitiveness in Europe. Cheltenham, UK, Northampton, MA, Edward Elgar. Mihailov, A., Rumler, F., Scharler, J. (2008). The Small Open-Economy New Keynesian Phillips Curve: Empirical Evidence and Implied Inflation Dynamics. University of Linz Economics Working Paper No. 0817 and University of Reading Discussion Paper No. 063. Mooslechner, P. (2008). The Choice of Exchange Rate Regimes – Where Do We Stand? Workshops No. 13, OeNB, 10–29. Mooslechner, P. (2008). Competitiveness in Southeastern Europe and Prospects During the Catching-up Process: A Regional Overview, in: National Bank of the Republic of Macedonia (ed.), Competitiveness of the South Eastern European Countries and Challenges on the Road to EU, Skopje, 28–42).

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Mooslechner, P. (2008). Finanzkrise, quo vadis? Versuch einer – sicherlich noch verfrühten – Zwischenbilanz der aktuellen wirtschaftlichen Ereignisse, Conturen 4/2008, 12–21. Mooslechner, P. (2008). Fundamentally lost? On the role of fundamentals in exchange rate economics in history and theory. In: Liebscher, K., Christl, J., Mooslechner, P., Ritzberger-Gruenwald, D. (eds) (2008), 65–81). Nauschnigg, F. (2008). Europäische Integration und Österreich. Europäische Rundschau, Nummer 2/2008. Pesendorfer, K. (2008). Tax and Economic Growth in Austria. Monetary Policy & the Economy Q3/08, OeNB, 21–40. Pesendorfer, M., Schmidt-Dengler, P. (2008). Asymptotic Least Squares Estimators for Dynamic Games. Review of Economic Studies 75, 901–928. Pointner, W., Schneider, M., Schreiner, J. (2008). Inflationary Pressures Worldwide despite Downturn in Growth Dampened Growth also Expected in the Euro Area. Monetary Policy & the Economy Q1/08, OeNB, 6–19. Ragacs, C. (2008). On the Empirics of Minimum Wages and Employment: Evidence for the Austrian Industry. Applied Economics Letters 15, 61–64. Ragacs, C., Vondra, K. (2008). Decline in National Product Albeit by a Smaller Margin than in the Euro Area. Sharp Drop in Inflation – Economic Outlook for Austria 2008 – 2010 (Dec. 2008). Monetary Policy & the Economy, Q4/08, OeNB, 10–37. Raunig B. (2008). Detecting ARCH Effects in Non-Gaussian Time Series. Journal of Financial Econometrics, Journal of Financial Econometrics 6(2), 271–289. Raunig, B. (2008). The Predictability of Exchange Rate Volatility. Economics Letters, Economics Letters 98(2), 220–228. Raunig, B., Scheicher, M. (2008). A Value at Risk Analysis of Credit Default Swaps. ECB Working Paper Series No. 968, November. Raunig, B., Scheicher, M. (2008). A Value at Risk Analysis of Credit Default Swaps. Bundesbank Working Paper, Discussion Paper Series 2: Banking and Financial Studies No. 12/2008. Reininger, T. (2008). Factors Driving Import Demand in Selected Central, Eastern and Southeastern European Countries. In: Focus on European Economic Integration 1/08, OeNB, 100–125. Rheinberger K., Summer, M. (2008). Credit Portfolio Risk and Asset Price Cycles. Computational Management Science 5(4), 337–354. Rumler, F., Valderrama, M.T. (2008). Do Aggregate Demand Factors Influence Current Inflation Developments? Monetary Policy & the Economy Q2/08, OeNB, 70–82. Rumler, F., Valderrama, M.T. (2008). Comparing the New Keynesian Phillips Curve with Time Series Models to Forecast Inflation. Working Paper 148, OeNB. Scheiber, T. (2008). Monetary Time Series of Southeastern Europe from the 1870s to 1914: Austro-Hungarian Empire. Workshops No. 13, OeNB, 412–418. Schreiner, J. (2008). Labor Markets in Central, Eastern and Southeastern European EU Member States: General Trends and Migration Effects. In: Focus on European Economic Integration 1/08, OeNB, 82–99. Schürz, M. (2008). Saving in Austria – Too Little and Too Late? Monetary Policy & the Economy Q4/08, OeNB, 135–142. Stix, H. (2008). Euroization: What Factors Drive its Persistence? OeNB Working Paper 140.

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Summer, M. (2008). Modeling Instability of Banking Systems and the Problem of Macro Stress Testing. ECB Conference Proceedings "Simulating Financial Instability". Summer, M. (2008). Quantitative Modelling of Systemic Risk in a Globalized Banking System: Methodological Challenges"Federal Reserve Bank of Chicago conference proceedings, Federal Reserve Bank of Chicago conference proceedings, Globalization and Systemic Risk. Summer, M. (2008). The Financial Crisis in 2007 and 2008 Viewed from the Perspective of Economic Research. Monetary Policy & the Economy, Q4/08, OeNB, 85–100. Wagner, K. (2008). Housing Market Challenges in Europe and the United States - Any Solutions Available? Monetary Policy & the Economy Q4/08, OeNB, 124–134. Walko, Z. (2008). The Refinancing Structure of Banks in Selected CESEE Countries. Financial Stability Report 16, OeNB, 76–95. Walko, Z. (2008). Housing Loan Developments in the Central and Eastern European EU Member States. Focus on European Economic Integration 2/08, OeNB, 73–82. Waschiczek, W. (2008). Are There Signs of a Credit Crunch in Austria? Monetary Policy & the Economy Q4/08, OeNB, 38–53. Wörz, J. (2008). Wettbewerbsfähigkeit im Dienstleistungssektor im europäischen Vergleich. In: Wirtschaftspolitische Blätter, Heft 3/2008 'Internationalisierung', 519– 532. Wörz, J. (2008). Structural Aspects of Competitiveness. In: Liebscher, K., Christl, J., Mooslechner, P. and D. Ritzberger-Grünwald (eds). Currency and Competitiveness in Europe. Cheltenham, UK, Northampton, MA, Edward Elgar, 227–243. Wörz, J. (2008). Austria’s Competitiveness in Trade in Services. In: FIW Study Series, No. 03, Forschungsschwerpunkt Internationale Wirtschaft. Wörz, J., Brandicourt, V., Schwellnus, C. (2008). Austria’s Potential for Trade in Services. In: FIW Study Series, No. 02, Forschungsschwerpunkt Internationale Wirtschaft. Wörz, J., Francois, F., Pindyuk, O. (2008). Trade Effects of Services Trade Liberalization in the EU. In: FIW Study Series, No. 04, Forschungsschwerpunkt Internationale Wirtschaft.

2007 Backé, P., Ritzberger-Grünwald, D., Stix, H. (2007). The Euro on the Road to Central and Eastern Europe: Evidence on Cash, Deposits and Loans. Monetary Policy & the Economy Q1/07, OeNB, 114–127. Backé, P., Égert, B., Walko, Z. (2007). Credit Growth in Central and Eastern Europe Revisited. Focus on European Economic Integration 2/07, OeNB, 69–77. Balling, M., Gnan, E., Lierman, F. (2007). Introduction: Ageing – A Challenge for Economic Policy Makers, Financial Regulators and Financial Markets. In: Balling, M., Gnan, E., Lierman, F. (eds) (2007), Money, Finance and Demography: The Consequences of Ageing. Papers presented at the 26th SUERF Colloquium in Lisbon. SUERF, Vienna. Barisitz, S. (2007). Banking in Belarus – On a Trajectory of its Own? Financial Stability Report No. 14, OeNB, 85–103. Barisitz, S. (2007). Exchange Rate Arrangements and Monetary Policy in Southeastern Europe: An Update (2004–2007). Focus on European Economic Integration 2/07, OeNB, 78–99.

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Barisitz, S. (2007). Banking Transition in Central and Eastern Europe 1980–2006 – From Communism to Capitalism. Routledge (Taylor & Francis), London, New York. Barisitz, S. (2007). Le Système Bancaire Russe depuis 1990 – Une Modernisation Contradictoire et Mouvementée. Le Courrier des Pays de l’Est, no. 1064. Septembreoctobre 2007, Paris: La Documentation Française, 42–55. Barisitz, S. (2007). Monetary Policy Transition and Modernization in Southeastern Europe and Turkey from the 1990s to 2006. Osteuropa Wirtschaft No. 3. Barisitz, S. Ollus, S. (2007). The Russian Non-Fuel Sector: Signs of Dutch Disease? Evidence from EU25 Import Competition. Focus on European Economic Integration 1/07, OeNB, 150–166. Bartošová, D., Bartová, L., Fidrmuc, J. (2007). Implications of EU Enlargement for the New Member States’ Agri-Food Trade. Working Paper 07/10, TRADEAG. Bartošová, D., Bartová, L. Fidrmuc, J. (2007). Slovak Trade with Agro-Food Commodities after the EU Accession (in Slovak), Ekonomický časopis / Slovak Journal of Economics, 55 (4), 327–344. Beer, C., Schürz, M. (2007). Characteristics of Household Debt in Austria – Does Household Debt Pose a Threat to Financial Stability? Monetary Policy & the Economy Q2/07, OeNB, 58–79. Beer, C., Mooslechner, P., Schürz, M., Wagner, K. (2007). Survey Data on Austrian Households’ Financial Wealth: Main Findings and Challenges. Irving Fisher Committee on Central-Bank Statistics (ed.), ifc Bulletin 26, July. Beer, C., Waschiczek, W. (2007). Indicators for Analyzing the Risk Exposure of Enterprises and Households. Financial Stability Report No. 14, OeNB. Brandner, P., Diebalek, L., Köhler-Töglhofer, W. (2007). Budget Balances Decomposed: Tracking Fiscal Policy in Austria. In: European Economy, Economic Papers, 297. Brandner, P., Diebalek, L., Köhler-Töglhofer, W. (2007). Decomposing Budget Balances for Austria. In: Banca d’Italia, Fiscal Indicators, Research Department Public Finance Workshop Proceedings. Breitenfellner, A. (2007). Currency and Competitiveness – The OeNB’s Conference on European Economic Integration 2007. Focus on European Economic Integration 2/07, OeNB, 125–137. Breitenfellner, A. (2007). Global Unionism: A Potential Player. In: Servais, J.-M., Bollé, P., Lansky, M., Smith, C.L. (eds). Working for Better Times. Rethinking Work for the 21st Century. ILO Geneva, 695–721. Breitenfellner, A., Elsinger, J., Vondra, K. (2007). Robust Economic Activity in the Euro Area – Inflation Remains Moderate. Monetary Policy & the Economy Q3/07, OeNB, 10–24. Breuer, T., Jandačka, M., Rheinberger, K., Summer, M. (2007). Regulatory Capital for Market and Credit Risk Interaction: Is Current Regulation Always Conservative? Deutsche Bundesbank, Discussion Paper. Crespo Cuaresma, J., Egert, B., Silgoner, M.A. (2007). Price Level Convergence in Europe: Did the Introduction of the Euro Matter? Monetary Policy & the Economy Q1/07, OeNB, 100–113. Crespo Cuaresma, J., Fillat Castejón, C., Silgoner, M.A., Wörz, J. (2007). Blessing or Curse? An Industry-Level Analysis of FDI Effects on Productivity and Wages in CEECs. In: Liebscher, K., Christl, J., Mooslechner, P., Ritzberger-Grünwald, D. (eds)

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(2007). Foreign Direct Investment in Europe: A Changing Landscape. Edward Elgar, Cheltenham, UK, Northampton, MA, p. 87–100. Crespo Cuaresma, J., Gnan, E. (2007). The Natural Rate of Interest: Which Concept? Which Estimation Method? Which Policy Conclusions? Journal of Post Keynesian Economics, 29(4), pp. 667–688. Duchatczek, W., Köhler-Töglhofer, W. (2007). Die österreichische Fiskalpolitik seit Beginn 2000 – eine kritische Würdigung. In: Jahrbuch der Politik. Österreichisches Jahrbuch für Politik 2006. Dvorsky, S. (2007). Central Bank Independence in Southeastern Europe with a View to EU Requirements. Focus on European Economic Integration 1, OeNB, 101–114. Égert, B. (2007). Central Bank Interventions, Communication and Interest Rate Policy in Emerging European Economies. Journal of Comparative Economics 35(2), 387–413. Égert, B. (2007). Real Convergence, Price Level Convergence and Inflation Differentials in Europe. OeNB Working Paper 138. Égert, B., Backé, P., Zumer, T. (2007). Private-Sector Credit in Central and Eastern Europe: New (Over)Shooting Stars? Comparative Economic Studies 49, 201–231. Égert, B., Crespo-Cuaresma, J., Reininger, T. (2007). Interest Rate Pass-Through in Central and Eastern Europe: Reborn from Ashes Merely to Pass Away. Journal of Policy Modeling 29, 209–225. Égert, B., Mihaljek, D. (2007). Determinants of House Price Dynamics in Central and Eastern Europe. Comparative Economic Studies 49, 367–388. Égert, B., Kocenda, E. (2007). Interdependence of Central and Eastern European Stock Markets: Evidence from Intra-Days Data. Economic Systems 31(2), 184–203. Égert, B., Leonard, C.S. (2007). Dutch Disease Scare in Kazakhstan: Is It Real? Open Economies Review. Elsinger, H., Zulehner, C. (2007). Bidding Behavior in Austrian Treasury Bond Auctions. Monetary Policy & the Economy Q2/07, OeNB, 109–125. Ettl, I., Nauschnigg, F., Schober-Rhomberg, A. (2007). Europe – Quo Vadis? 50 Years Treaty of Rome. Monetary Policy & the Economy Q2/07, OeNB, 142–147. Fabiani, S., Loupias, C., Druant, M., Hernando, I., Kwapil, C., Landau, B., Martins, F., Mathä, T., Sabbatini, R., Stahl, H., Stokman, A. (2007). Summary of Results for the Euro Area.. In: Fabiani, S., Loupias, C., Martins, F., Sabbatini, R. (eds). Pricing Decisions in the Euro Area: How Firms Set Prices and Why. Oxford University Press, 32–51. Fenz, G., Ragacs, C., Schneider, M. (2007). Economic Growth in Austria at 3¼% in 2007. Economic Outlook for Austria from 2007 to 2009 (June 2007). Monetary Policy & the Economy Q2/07, OeNB, 6–26. Fenz, G., Schneider, M. (2007). Transmission of Business Cycle Shocks between Unequal Neighbours: Germany and Austria. OeNB Working Paper 137. Fenz, G., Schreiner, J., Silgoner, M.A. (2007). Euro Area Growth Broad-Based in Early 2006 – Lower Rate of Inflation. Monetary Policy & the Economy Q1/07, OeNB, 12–27. Fessler, P., Schürz, M., Wagner, K., Weber, B. (2007). Financial Capability of Austrian Households. Monetary Policy & the Economy Q3/07, OeNB, 50–67. Fidrmuc, J., (2007). Der lange Weg zum Euro. ifo Schnelldienst 14. Fidrmuc, J., Foster, N., Scharler, J. (2007). Labour Market Rigidities, Financial Integration and International Risk Sharing in the OECD. Working Paper No. 2028, CESifo, Munich.

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Fidrmuc, J., Hainz, C., Malesich, A. (2007). Default Rates in the Loan Market for SMEs: Evidence from Slovakia. Discussion Paper No. 1, Department of Economics, University of Munich. Fidrmuc, J., Hainz, C., Malesich, A. (2007). Default Rates in the Loan Market for SMEs: Evidence from Slovakia. Working Paper No. 854, William Davidson Institute, University of Michigan. Fidrmuc, J., Horváth, R., (2007). Volatility of Exchange Rates in Selected New EU Members: Evidence from Daily Data. Working Paper No. 2107, CESifo. Fluch, M. (2007). Selected Central Banks’ Economic and Financial Literacy Programs. Monetary Policy & the Economy Q3/07, OeNB, 85–104. Fluch, M., Gnan, E., Schlögl, S. (2007). Euro Cash in Austria Five Years after Its Introduction – What the Public Thinks. Monetary Policy & the Economy Q1/07, OeNB, 30–54. Fluch, M., Stix, H. (2007). Development of Euro Prices – Subjective Perception and Empirical Facts. Monetary Policy & the Economy Q1/07, OeNB, 55–84. Glatzer, E., Rumler, F. (2007). Price Setting in Austria before and after the Euro Cash Changeover: Has Anything Changed in the Last Five Years? Monetary Policy & the Economy Q1/07, OeNB, 85–99. Gnan, E., Silgoner, M.A., Weber, B. (2007). Economic and Financial Education: Concepts, Goals and Measurement. Monetary Policy & the Economy Q3/07, OeNB, 28–49. Grossmann, B., Hauth, E. (2007). Die Budgetpolitik der Bundesländer im Lichte der Maastrichtvorgaben. Ein Ländervergleich. Wirtschaftspolitische Blätter 1/2007, Vienna. Grossmann, B., Hauth, E. (2007). Verwaltungs- und Pensionsreformen im öffentlichen Dienst sowie Finanzierung des Krankenanstaltenwesens. Staatsschuldenausschuss, Manz-Verlag, Vienna. Haussteiner, I., Soukup-Unterweger, I. (2007). Die Europäische Norm für Übersetzungsdienstleistungen EN 15038 im Brennpunkt. UNIVERSITAS 3/07, Österreichischer Übersetzer- und Dolmetscherverband, Teil I UNIVERSITAS 3/07 (p. 6–10) und Teil II UNIVERSITAS 4/07 (p. 18–22). Hildebrandt, A., Silgoner, M.A. (2007). The Competitiveness Challenge: EU Member States in International Trade. Monetary Policy & the Economy Q4/07, OeNB, 67–88. Janger, J. (2007). Zwischenbilanz der Internationalisierungsoffensive "Go International", WIFO-Monographien, December. Janger, J. (2007). Österreichs Außenwirtschaft im Spiegel internationaler Ländervergleiche. In: Kompetenzzentrum Forschungsschwerpunkt Internationale Wirtschaft (ed.). Österreichs Außenwirtschaft 2007, Chapter 5.4 Appendix, 112–121. Janger, J., Bhattacharya, R., Gonenc, R. (2007). OECD Economic Survey of Austria, OECD, Paris. Janger, J., Leibfritz, W. (2007). Boosting Austria’s Innovation Performance, OECD Economics Department Working Paper Series 580. Janger, J., Raunig, B. (2007). Human Capital and Economic Growth - Summary of the 35th Economics Conference of the Oesterreichische Nationalbank. Monetary Policy & the Economy Q3/07, 106–114. Janger, J., Wörz, J. (2007). Auswirkungen der internationalen Handelsentwicklung auf Österreich. In: Kompetenzzentrum Forschungsschwerpunkt Internationale Wirtschaft (ed.), Österreichs Außenwirtschaft 2007, Kap. 4, Vienna, 83–96.

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Kaufmann, S. (2007). Capturing the Link between M3 Growth and Inflation in the Euro Area – An Econometric Model to Produce Conditional Inflation Forecasts. Monetary Policy & the Economy Q2/07, OeNB, 93–108. Kaufmann, S. Valderrama, M.T. (2007). The Role of Credit Aggregates and Asset Prices in the Transmission Mechanism: A Comparison between the Euro Area and the US. ECB Working Paper Series 816. Köhler-Töglhofer, W., Zagler, M. (2007). The Composition of the Government Budget and the Dynamics of Public Debt. Finanzarchiv 2. Kwapil, C., Scharler, J., Baumgartner, J. (2007). Price-Setting Behavior of Austrian Firms. Empirica (34), 491–505. Kwapil, C., Scharler, J., Baumgartner, J. (2007). Price Reactions to Demand and Cost Shocks – Survey Evidence from Austrian Firms,. In: Fabiani, S., Loupias, C., Martins, F., Sabbatini, R. (eds). Pricing Decisions in the Euro Area: How Firms Set Prices and Why. Oxford University Press, 55–68. Liebscher, K., Christl, J., Mooslechner, P., Ritzberger-Grünwald, D. (eds) (2007). Foreign Direct Investment in Europe: A Changing Landscape. Edward Elgar, Cheltenham, UK, Northampton, MA. Mooslechner, P. (2007). Das Geldvermögen der Haushalte – Ein etwas genauerer Blick auf die Detailstrukturen der Veranlagung privater Haushalte in Österreich. Sparkassenzeitung, January. Mooslechner, P. (2007). Neurath on Money: Some Reflections in the Historical Context of the Birth of Modern Monetary Economics. Mooslechner, P. (2007). Why FDI? Re-Inventing Economic Geography in Times of Globalization. In: Liebscher, K., Christl, J., Mooslechner, P., Ritzberger-Grünwald, D. (eds). Foreign Direct Investment in Europe: A Changing Landscape. Edward Elgar, Cheltenham, UK, Northampton, MA, 127–143. Mooslechner, P. (2007). Steuern auf Grund und Boden: Ein präventiver politökonomischer Nachruf? In: Bauer, H., Schratzenstaller, M. (eds). Stärkung der subnationalen Steuerautonomie und intragovernmentale Transfers. Neuer Wissenschaftlicher Verlag, Vienna – Graz, pp.139–14. Mooslechner, P., Schmitz, St., Schuberth, H. (2007). From Bretton Woods to the Euro: The Evolution of Austrian Monetary Policy from 1969 to 1999. Workshops No. 11, OeNB, 21–44. Moser, G., Rumler, F., Scharler, J. (2007). Forecasting Austrian Inflation. Economic Modelling 24(3), 470–480. Neck, R., Richter, Ch., Mooslechner, P. (2007). Quantitative Economic Policy – Theory and Applications: Introduction and Overview. In: Neck, R., Richter, C., Mooslechner, P. (eds). Prammer, D. (2007). Comments on ‘What Affects Fiscal Consolidations? – Some Evidence from OECD Countries’ (by E. Wurzel et al., 2007) and M. Kumar et al. (2007) ‘A Retrospective of Successful Fiscal Adjustment Episodes’. In: Fiscal Indicators Banca d’Italia Workshop Series on Public Finance, Banca d’Italia. Prammer, D. et al. (2007). Public Finances in EMU 2007 (main contributor). http://ec.europa.eu/economy_finance/publications/european_economy/2007/pfr/ee307_ en.pdf Prettner, K., Stiglbauer, A. (2007). Effects of the Full Opening of the Austrian Labor Market to EU-8 Citizens. Monetary Policy & the Economy Q4/07, OeNB, 50–66.

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Ragacs, C., Schneider, M. (2007). Output Growth in Austria and Germany: What Explains the Growth Differentials since the Early 1990s? Monetary Policy & the Economy Q2/07, OeNB, 27–57. Ragacs, C., Schneider, M. (2007). Comparing the Predictive Accuracy of Macroeconomic Forecasts for Austria from 1998 to 2006. Monetary Policy & the Economy Q4/07, OeNB, 29–49. Ragacs, C., Vondra, K. (2007). Growth Prospects for Austria Are Weakening Economic Outlook for Austria from 2007 to 2009 (December 2007). Monetary Policy & the Economy Q4/07, OeNB, 6–28. Raunig, B. (2007). Are Economic Tracking Portfolios Useful for Forecasting Output and Inflation in Austria? Applied Financial Economics 17, 1043–1049. Reiss, L. (2007). International Trade & Domestic Growth: Determinants, Linkages and Challenges. Monetary Policy & the Economy Q4/07, OeNB, 90–95. Ritzberger-Grünwald, D., Stix, H. (2007). Are Euro Cash Holdings in CEECs Driven by Experience or Anticipation? Results from an OeNB Survey. Focus on European Economic Integration 1, OeNB, 77–100. Rumler, F. (2007). Estimates of the Open Economy New Keynesian Phillips Curve for Euro Area Countries. Open Economies Review 18, 427–451. Silgoner, M. (2007). The Economic Sentiment Indicator: Leading Indicator Properties in Old and New EU Member States. Journal of Business Cycle Measurement and Analysis 3(2), 199–216. Silgoner, M. (2007). The Changing Landscape of FDI in Europe – The OeNB’s Conference on European Economic Integration 2006. Focus on European Economic Integration, 1/07, OeNB, 181–188. Stix, H. (2007). The Impact of Central Bank Intervention During Periods of Speculative Pressure – Evidence from the EMS. German Economic Review 8(3), 399–427. Summer, M. (2007). Quantitative Modelling of Systemic Risk in a Globalized Banking System: Methodological Challenges. In: Eavanoff, D., Kaufman, G. (eds). Federal Reserve Bank of Chicago conference proceedings "Globalization and Systemic Risk", World Scientific Publishers.

2006 Álvarez, L., Dhyne, E., Hoeberichts, M., Kwapil, C., Le Bihan, H., Lünnemann, P., Martins, F., Sabbatini, R., Stahl, H., Vermeulen, P., Vilmunen, J. (2006). Sticky Prices in the Euro Area: A Summary of New Micro-Evidence. Journal of the European Economic Association 4(2-3), April-May, 575–584. Andreasch, M., Beer, C., Mooslechner, P., Schürz, M., Wagner, K. (2006). Zur Aussagefähigkeit der Makrodaten der GFR und der Mikrodaten der OeNBGeldvermögensbefragung: Ein methodischer Vergleich. Statistiken Q3/06, OeNB, 53– 62. Arpa, M., Crespo Cuaresma, J., Gnan, E., Silgoner, M.A. (2006). Oil Price Shock, Energy Prices and Inflation – A Comparison of Austria and the EU. Monetary Policy & the Economy Q1/06, OeNB, 53–77. Backé, P., Walko, Z. (2006). Bank Intermediation in Southeastern Europe: Depth and Structure. Focus on European Economic Integration 2/06, OeNB, 48–68.

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Backé, P., Reininger, T., Walko, Z. (2006). Main Features of Recent Banking Sector Developments in Selected Southeastern European Countries. Financial Stability Report No. 11, OeNB, 66–82. Barisitz, S. (2006). Booming, but Risky: The Ukrainian Banking Sector – Hot Spot for Foreign Strategic Investors. Financial Stability Report No. 12, OeNB, 64–78. Barisitz, S., Pemmer, A. (2006). Ukraine: Macroeconomic Developments and Structural Change with a Special Focus on the Energy Sector. Focus on European Economic Integration 1/06, OeNB, 158-176. Bask, M., Fidrmuc, J., (2006). Fundamentals and Technical Trading: Behaviour of Exchange Rates in the CEECs. Research Discussion Papers No. 10, Bank of Finland. Baumgartner, J., Glatzer, E., Rumler, F., Stiglbauer, A. (2006). The Dynamics of Individual Consumer Price Data for Austria. Workshops No. 8, OeNB, 28–58. Beer, C., Mooslechner, P., Schürz, M., Wagner, K. (2006). Mikrodaten zum Geldvermögen der österreichischen Haushalte – eine wichtige Informationsgrundlage für die Geld- und Wirtschaftspolitik. Arbeiterkammer (ed.). Wachsende Ungleichheit. Vienna, 121–150. Beer, C., Mooslechner, P., Schürz, M., Wagner, K. (2006). Financial Wealth Holdings of Austrian Households: Data Sources and Institutional Features. Paper presented at the Luxembourg Wealth Study Conference, 14–15 December 2006. Beer, C., Mooslechner, P., Schürz, M., Wagner, K. (2006). Austrian Households’ Financial Wealth: An Analysis Based on Microeconomic Data. Monetary Policy & the Economy Q2/06, OeNB, 94–110. Beer, C., Janger, J., Stiglbauer, A. (2006). Strategies for Growth and Employment in Austria. Monetary Policy & the Economy Q2/06, OeNB, 145–152. Boss, M., Krenn, G., Puhr, C., Summer, M. (2006). Systemic Risk Monitor: A Model for Systemic Risk Analysis and Stress Testing of Banking Systems. Financial Stability Report No. 11, OeNB, 83–95. Brandner, P., Diebalek, L., Koehler-Toeglhofer, W. (2006). Decomposing Budget Balances for Austria. Fiscal Indicators, Banca d’Italia, Research Department Public Finance Workshop, held in Perugia, April 2006. Brandner, P., Diebalek, L., Koehler-Toeglhofer, W. (2006). Budget Balances Decomposed: Tracking Fiscal Policy in Austria. Paper presented at the Workshop of the European Commission on “Fiscal indicators” in Brussels on 22 September 2006. Brandner, P., Frisch, H., Grossmann, B., Hauth, E. (2006). The Swiss Debt Brake: An Implementation Proposal for Austria. Wirtschaftspolitische Blätter 1/2006, Vienna. Brandner, P., Grech, H., Stix, H. (2006). The Effectiveness of Central Bank Intervention in the EMS: The Post-1993 Experience. Journal of International Money and Finance 25 (4), June, 551–674. Breitenfellner, A., Fenz, G., Reininger, T. (2006). Economic Outlook Improves in Euro Area – Inflation Pressure Persists Due to High Energy Prices. Monetary Policy & the Economy Q1/06, OeNB, 6–23. Breitenfellner, A., Hildebrandt, A. (2006). High Employment with Low Productivity? The Service Sector as a Determinant of Economic Employment. Monetary Policy & the Economy Q1/06, OeNB, 110–135. Bussière, M., Fidrmuc, J., Schnatz, B. (2006). Trade integration of the new EU member states and selected South-East European countries: lessons from a gravity model. In: Liebscher, K., Christl, J., Mooslechner, P., Ritzberger-Grünwald, D. (eds) European

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Economic Integration and South-East Europe: Challenges and Prospects. Edward Elgar, Cheltenham, UK and Northampton, MA, USA. Crespo Cuaresma, J., Gnan, E. (2006). “Stubborn” Inflation in Austria? Introduction and a Very Long-Term View. Workshops No. 8, OeNB, 11–27. Dhyne, E., Álvarez, L.J., Le Bihan, H., Veronese, G., Dias, D., Hoffmann, J., Jonker, N., Lünnemann, P., Rumler, F., Vilmunen, J. (2006). Price Setting in the Euro Area: Some Stylized Facts from Individual Consumer Price Data, Journal of Economic Perspectives 20(2), 171–192. Diebalek, L., Köhler-Töglhofer, W., Prammer, D. (2006). Reform of the Stability and Growth Pact. Monetary Policy & the Economy Q1/06, OeNB, 78–109. Dvorsky, S. (2006). Comparing Central Bank Legislation in Southeastern Europe: Selected Cases. Workshops No. 7, OeNB, 69–94. Dvorsky, S., Lindner, I. (2006). Institutional Changes in the European Integration Process – the OeNB's Experience. Workshops No. 7, OeNB, 53–68. Égert, B., Leonard, C.S. (2006). The Dutch Disease in Kazakhstan: An Empirical Investigation. Focus on European Economic Integration 2/06, OeNB, 85–108. Egert, Balázs (2006). Central Bank Interventions, Communication and Interest Rate Policy in Emerging European Economies. OeNB Working Paper 134. Elsinger, H., Lehar, A., Summer, M. (2006). Risk Assessment for Banking Systems. Management Science, 52(9), 1301–1314, September. Elsinger, H., Lehar, A., Summer, M. (2006). Using Market Information for Banking System Risk Assessment. International Journal of Central Banking, March, 137–165. Elsinger, H., Lehar, A. Summer, M. (2006). Systemically Important Banks: An Analysis for the European Banking System. International Economics and Economic Policy 3(1), April, 73–89. Fabiani, S., Druant, M., Hernando, I., Kwapil, C., Landau, B., Loupias, C., Martins, F., Mathä, T., Sabbatini, R., Stahl, H., Stokman, A. (2006). What Firms' Surveys Tell About Price Setting Behavior in the Euro Area. International Journal of Central Banking, September, 3–47. Fenz, G., Schneider, M. (2006). Is Germany’s Influence on Austria Waning? Synchronization and Transmission of Cyclical Shocks. Monetary Policy & the Economy Q2/06, OeNB, 24–45. Fenz, G., Schneider, M. (2006). Austria’s Economy Will Continue to Grow Dynamically in 2007. Economic Outlook for Austria from 2006 to 2008 (December 2006), Monetary Policy & the Economy Q4/06, 6–25. Fenz, G., Spitzer, M. (2006). An Unobserved Components Model to Forecast Austrian GDP. OeNB Working Paper 119. Ferrando, A., Fritzer, F., Hartmann, P., Heider, F. (2006). The Performance of the European Financial System. Eijffinger, Kees, Smets (ed.), Konferenzband zu 'Structural Reforms and Economic Growth in Europe', 53–59. Fessler, P. (2006). Home Country Effects of Offshoring – A Critical Survey on Empirical Literature. Discussion Papers SFB International Tax Coordination, Nr. 23, December 14, 2006 SFB International Tax Coordination, University of Economics and Business Administration, Vienna. Fidrmuc, J. (2006). Osterweiterung der Eurozone aus der Sicht der Theorie der optimalen Währungsräume: Was nun? ifo Schnelldienst 22, 9-11.

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Fidrmuc, J. Hořovský, V. (2006). Economic Outlook of the World Economy according to the International Monetary Fund (in Czech) Ekonomický časopis / Slovak Journal of Economics, 54 (1), 103-104. Fidrmuc, J., Horváth, R. (2006). Exchange Rate Dynamics in Selected New EU Member States. In: Stavárek, D., Polouček, S. (Eds) The Financial Sector in the Enlarging European Union, Cambridge Scholars Press, 191-206. Fidrmuc, J. (2006). The Endogeneity of the Optimum Currency Area Criteria and Intraindustry Trade: Implications for EMU Enlargement’. In De Grauwe, P., and Mélitz, J. (eds), Monetary Unions after EMU, Cambridge, MA: MIT Press, 2006. Fidrmuc, J., Horváth, R., (2006). Credibility of Exchange Rate Policies in Selected EU New Members: Evidence from High Frequency. IES Working Paper: 28, Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague. Fidrmuc, J., Korhonen, I. (2006). Meta-analysis of the business cycle correlation between the euro area and the CEECs. Working Paper No. 1693, CESifo, Munich. Fidrmuc, J., (2006). Money Demand and Disinflation in Selected CEECs during the Accession to the EU. Discussion Paper No. 31, Department of Economics, University of Munich. Fidrmuc, J., Horváth, R. (2006). Volatility of Exchange Rates in Selected New EU Members: Evidence from Daily Data. Economic Systems 32 (1), 103–118. Fidrmuc, J., Korhonen. I. (2006). Meta-Analysis of the Business Cycle Correlation between the Euro Area and the CEECs’. Journal of Comparative Economics, 34(3), 518–537. Fidrmuc, J., Senaj, M. (2006). Exchange Rate Regimes in Slovakia and New EU Member States. (in Slovak) Finance a úvěr / Czech Journal of Economics and Finance 56 (1-2), 40–57. Fluch, M., Fuchs, M., Schubert, A. (2006). Die Oesterreichische Nationalbank erweitert und modernisiert Statistikangebot. Sigma 1/06: Bulletin der Europäischen Statistik, Europäische Kommission, Eurostat. Fritzer, F. (2006). The Financial System and the Institutional Environment as Determinants of Economic Performance: Austria in Comparison. Monetary Policy & the Economy Q1/06, OeNB, 136–158. Frühwirth-Schnatter, S., Kaufmann, S. (2006). How do Changes in Monetary Policy Affect Bank Lending? An Analysis of Austrian Bank Data. Journal of Applied Econometrics 21, 275–305. Glatzer, E., Gnan, E., Valderrama, M.T. (2006). Globalization, Import Prices and Producer Prices in Austria. Monetary Policy & the Economy Q3/06, OeNB, 24–43. Gnan, E. (2006). Price Setting and Inflation Persistence: Some Policy Conclusions from a Central Bank’s Perspective. Workshops No. 8, OeNB. Gnan, E., Valderrama, M.T. (2006). Globalization, Inflation and Monetary Policy. Monetary Policy & the Economy Q4/06, 37–54. Gratz, H., Grech, H. (2006). Reforming the International Monetary Fund – Some Reflections. Monetary Policy & the Economy Q4/06, OeNB, 98–118. Grossmann, B., Hauth, E. (2006). Die Budgetpolitik der Bundesländer im Lichte der Maastrichtvorgaben 2001 bis 2004. Ländersample: Burgenland, Kärnten, Steiermark. Studie im Auftrag des Staatsschuldenausschusses. Vienna. Hochreiter, E. (2006). When to Adopt the Euro – Anything In for Denmark from the Experiences of Two Current Euro Area Members? In: Michael Christensen and Anders Grosen (eds). Festschrift for Morten Balling, DJØF Publishing Copenhagen, 227–240.

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Janger, J. (2006). The Lisbon National Reform Programs: New Ideas for Austria’s Economic Policy. Monetary Policy & the Economy Q2/06, OeNB, 46–68. Janger, J. (2006), as a member Task Force of the Monetary Policy Committee of the European System of Central Banks: Competition, Productivity and Prices in the Euro Area Services Sector. Occasional Paper Series, No. 44, ECB. Janger, J., Knell, M., Pointner, W. (2006). Globalization: Opportunities and Challenges for the World, Europe and Austria. Summary of the 34th Economics Conference. Monetary Policy & the Economy Q2/06, OeNB, 136–144. Janger, J., Scharler, J., Stiglbauer, A. (2006). The Potential Growth Prospects of the Austrian Economy – Methods and Determinants. Monetary Policy & the Economy Q1/06, OeNB, 24–52. Jericha, E., Schürz, M. (2006). A Deliberative Independent Central Bank. OeNB Working Paper 133. Kaufmann, S., Scharler, J. (2006). Financial Systems and the Cost Channel Transmission of Monetary Policy Shocks. OeNB Working Paper 116. Kaufmann, S., Scheicher, M. (2006). A Switching ARCH Model for the German DAX Index, Studies in Nonlinear Dynamics & Econometrics, 10(4), Article 3. Kaufmann, S., Kugler, P. (2006). Expected Money Growth, Markov Trends and the Instability of Money Demand in the Euro Area. OeNB Working Paper 131. Knell, M., Köhler-Töglhofer, W., Prammer, D. (2006). The Austrian Pension System – How Recent Reforms Have Changed Fiscal Sustainability and Pension Benefits. Monetary Policy & the Economy Q2/06, OeNB, 69–93. Knell, M., Stix, H. (2006). Three Decades of Money Demand Studies. Differences and Similarities. Applied Economics 38(7), April, 805–818. Köhler-Töglhofer, W., Magerl, C., Mooslechner, P. (2006). Revised and New Competitiveness Indicators for Austria Reflect Improvement Trend since EMU Accession. Monetary Policy & the Economy Q4/06, OeNB, 70–97. Konieczny, J. D., Rumler, F. (2006). Regular Adjustment: Theory and Evidence. Workshops No. 8, OeNB, 64–94. Kwapil, C., Baumgartner, J., Scharler, J. (2006). The Price-Setting Behavior of Austrian Firms: Some Survey Evidence. Workshops No. 8, OeNB, 95–137. Kwapil, C., Rumler, F. (2006). Price Setting and Inflation Persistence in Austria. Monetary Policy & the Economy, Q1/06, OeNB, 160–164. Kwapil, C., Scharler, J. (2006). Interest Rate Pass-Through, Monetary Policy Rules and Macroeconomic Stability. OeNB Working Paper 118. Kwapil, C., Scharler, J. (2006). Limited Pass-Through from Policy to Retail Interest Rates: Empirical Evidence and Macroeconomic Implications. Monetary Policy & the Economy Q4/06, OeNB, 26–36. Leitner, K.-H., Prikoszovits, J., Schaffhauser-Linzatti, M., Stowasser, R., Wagner, K. (2006). The Impact of Size and Specialisation on Universities’ Department Performance: A DEA Analysis Applied to Austrian Universities. Higher Education 53, 517–538. Liebscher, K., Christl, J., Mooslechner, P., Ritzberger-Grünwald, D. (eds) (2006). Financial Development, Integration and Stability. Edward Elgar, Cheltenham, UK, Northampton, MA. Mooslechner, P. (2006). Surprise, Surprise: Exchange Rates Do Matter Within a Monetary Union. Unicredit Group, Economics Monitor, No.2, October, p.24–27.

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Mooslechner, P. (2006). From Kydland/Prescott to the SGP: Will Expenditure Rules Do the Job? Wirtschaftspolitische Blätter 1, p. 43–47. Mooslechner, P. (2006). Finance and Growth:The Legacy of Schumpeter to be Rediscovered? In: Liebscher, K., Christl, J., Mooslechner, P., Ritzberger-Grünwald, D. (eds) (2006). Financial Development, Integration and Stability. Edward Elgar, Cheltenham, UK, Nothampton, MA. Mooslechner, P., Schuberth, H., Weber, B. (eds) (2006). The Political Economy of Financial Market Regulation – The Dynamics of Inclusion and Exclusion. Edward Elgar, Cheltenham, UK, Nothampton, MA. Mooslechner, P., Schuberth, H., Weber, B. (eds) (2006). Financial Market Regulation and the Dynamics of Inclusion and Exclusion. In: Mooslechner, P., Schuberth, H., Weber, B. (eds). The Political Economy of Financial Market Regulation – The Dynamics of Inclusion and Exclusion. Mooslechner, P., Stix, H., Wagner, K. (2006). How Are Payments Made in Austria? Results of a Survey on the Structure of Austrian Households’ Use of Payment Means in the Context of Monetary Policy Analysis. Monetary Policy & the Economy Q2/06, OeNB, 111–134. Pointner, W. (2006). Employment Protection Regulations and Their Impact on Employment. Monetary Policy & the Economy Q3/06, OeNB, 44–57. Pointner, W., Schneider, M., Schreiner, J. (2006). Euro Area Economy Gains Strength Inflation Remains High Owing to Energy Component. Monetary Policy & the Economy Q3/06, OeNB, 6–23. Ragacs, C., Scharler, J. (2006). Domestic Demand and Strong Exports Stimulate the Economy, Economic Outlook for Austria from 2006 to 2008 (June 2006). Monetary Policy & the Economy Q2/06, OeNB, 6–23. Raunig, B. (2006). The Longer-Horizon Predictability of German Stock Market Volatility. International Journal of Forecasting, 22(2), 363–372.. Reininger, T., Walko, Z. (2006). The Integration of the Czech, Hungarian and Polish Bond Markets with the Euro Area Bond Market – A Déjà-Vu of the Club-Med Convergence Plays? In: Liebscher, K., Christl, J., Mooslechner, P., RitzbergerGrünwald, D. (eds). Financial Development, Integration and Stability. Edward Elgar, Cheltenham, UK, Northampton, MA. Reininger, T., Walko, Z. (2006). The Financial Situation and Financing of Nonfinancial Corporations in the Ten New EU Member States – A First Empirical Orientation, Focus on European Economic Integration, OeNB,° 134–151. Ritzberger, D. (2006). Happy, Sad and Open Endings: A Comparison of Credit Growth in CEECs with Past Experiences and Ongoing Developments in Austria, Finland and Spain. In: Liebscher, K., Christl, J., Mooslechner, P., Ritzberger-Grünwald, D. (eds). Financial Development, Integration and Stability. Edward Elgar, Cheltenham, UK, Nrothampton, MA. Rumler, F. (2006). Estimates of the Open Economy New Keynesian Phillips Curve for Euro Area Countries. Workshops No. 8, OeNB, 189–216. Rumler, F. (2006). The New Keynesian Philipps Curve for Austria – An Extension for the Open Economy. Monetary Policy & the Economy Q4/06, OeNB, 55–69. Scharler, J. (2006). Do Bank-Based Financial Systems Reduce Macroeconomic Volatility by Smoothing Interest Rates? OeNB Working Paper 117. Schneider, M., Leibrecht, M. (2006). AQM-06: The Macroeconomic Model of the OeNB. OeNB Working Paper 132.

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Schober-Rhomberg, A. (2006). The Development of the Division of Labour between the ECB and the NCBs. Workshops No. 7, OeNB, 185–196. Stiglbauer, A. (2006). Wie "dynamisch" ist der österreichische Arbeitsmarkt? Wirtschaftspolitische Blätter 2/2006. Vienna. Stiglbauer, A. (2006). Raising Older Workers’ Employment Rates in Austria. Workshops No. 10, OeNB, 161–186. Stiglbauer, A. (2006). The (New) OECD Jobs Study: Introduction and Assessment. Monetary Policy & the Economy Q3/06, OeNB, 58–74. Stix, H. (2006). Zahlungsverhalten und Bargeldverwendung in Österreich. In: Lammer, T. (ed.), Handbuch eMoney, ePayment & mPayment. Springer Verlag. Stix, H. (2006). Perceived Inflation and the Euro: Why High? Why Persistent? Workshops No. 8, OeNB, 221–249. Stix, H. (2006). The Impact of Central Bank Intervention During Periods of Speculative Pressure – Evidence from the EMS. German Economic Review. Stix, H., Wagner, K. (2006). How Do Austrians Pay for Online Purchases? Monetary Policy & the Economy Q3/06, OeNB, 75–90. Walko, Z. (2006). Financial Development, Integration and Stability in Central, Eastern and South-Eastern Europe – The OeNB’s Conference on European Economic Integration 2005. Focus on European Economic Integration 1/06, OeNB, 178–188.

2005 Altissimo, F., Georgiou, E., Sastre, T., Valderrama, M. T., Sterne, G., Stocker, M., Weth, M., Whelan, K., Willman, A. (2005). Wealth and Asset Price Effects on Economic Activity. ECB Occasional Paper Series No. 29. Arpa, M., Reininger, T., Walko, Z. (2005). Can Banking Intermediation in the Central and Eastern European Countries Ever Catch Up with the Euro Area? Focus on European Economic Integration 2/05, OeNB, 110–133. Backé, P., Zumer, T. (2005). Developments in Credit to the Private Sector in Central and Eastern European EU Member States: Emerging from Financial Repression – A Comparative Overview. Focus on European Economic Integration 2/05, OeNB, 83–109. Barisitz, S. (2005). Banking in Central and Eastern Europe since the Turn of the Millenium – An Overview of Structural Modernization in Ten Countries. Focus on European Economic Integration 2/05, OeNB, 58–82. Baumgartner, J., E. Glatzer, Rumler, F., Stiglbauer, A. (2005). How Frequently Do Consumer Prices Change in Austria? Evidence from Micro CPI Data. ECB Working Paper Series No. 523. Böheim, R., Stiglbauer, A., Winter-Ebmer, R. (2005). When and How to Create a Job: The Survival of New Jobs in Austrian Firms. IZA Discussion Paper No. 1602, Bonn. Brandner, P., Frisch, H., Grossmann, B., Hauth, E. (2005). Eine Schuldenbremse für Österreich. BMF Working Paper 1/2005, Vienna. Bussière, M., Fidrmuc, J., Schnatz, B. (2005). Trade Integration of Central and Eastern European Countries: Lessons from a Gravity Model. Working Paper No. 545, European Central Bank, Frankfurt. Crespo-Cuaresma, J., Fidrmuc, J., Silgoner, M.A. (2005). On the Road: The Path of Bulgaria, Croatia and Romania to the EU and the Euro. Europe-Asia Studies 57/6, 843– 858.

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Crespo Cuaresma, J., Foster, N., Scharler, J. (2005). On the Determinants of Absorptive Capacity, Evidence from the OECD. Revise and Resubmit at European Economic Review. Crespo Cuaresma, J., Gnan, E., Ritzberger-Grünwald, D. (2005). The Natural Rate of Interest — Concepts and Appraisal for the Euro Area. Monetary Policy & the Economy Q4/05, 29–47. Crespo Cuaresma, J., Gnan, E., Ritzberger-Grünwald, D. (2005). The Term Structure as a Predictor of Real Activity and Inflation in the Euro Area: A Reassessment. Review of World Economics, Weltwirtschaftliches Archiv, Springer-Verlag, Vol. 141, 318–342. Crespo Cuaresma, J., Gnan, E., Ritzberger-Grünwald, D. (2005). The Term Structure as a Predictor of Real Activity and Inflation in the Euro Area: A Reassessment. BIS Papers No. 22. 177–192. Dhyne, E., Álvarez, L.J., Le Bihan, H., Veronese, G., Dias, D., Hoffmann, J., Jonker, N., Lünnemann, P., Rumler, F., Vilmunen, J. (2005). Price Setting in the Euro Area: Some Stylized Facts from Individual Consumer Price Data. Journal of Economic Perspectives 20(2), 171–192. Diebalek, L., Köhler-Töglhofer, W., Prammer, D. (2005). The Austrian Stability Pact 2001–2004 – Design, Objectives and Effectiveness. Wirtschaftspolitische Blätter, 2/2005, 291–305. Dirschmid, W., Waschiczek, W. (2005). Institutional Determinants of Equity Financing in Austria. Financial Stability Report No. 9, OeNB, 77–92. Dvorsky, S., Lindner, I. (2005). 10 Years of EU Membership: The OeNB in a Changing Environment. Monetary Policy & the Economy Q2/05, OeNB, 42–52. Égert, B. (2005). Balassa-Samuelson Meets South Eastern Europe, the CIS and Turkey: A Close Encounter of the Third Kid? European Journal of Comparative Economics 2(2). Égert, B. (2005). The Balassa-Samuelson Hypothesis in Estonia: Oil Shale, Tradable Goods, Regulated Prices and Other Culprits. The World Economy 26(2), 259–286. Égert, B. (2005). Equilibrium Exchange Rates in South Eastern Europe: Healthy or (Dutch) Diseased? Economic Systems 29(2), 205–241. Égert, B., Babetskii, I. (2005). Equilibrium Exchange Rate in the Czech Republic: How Good is the Czech BEER? Finance A Uver (Czech Journal of Economics and Finance), 55(5–6), 232–252. Égert, B., Dufrenot, G. (2005). Real Exchange Rates in Central and Eastern Europe: What Role for the Underlying Fundamentals? Emerging Markets Finance and Trade, 41(2), March/April, 41–59. Égert, B., Halpern, L. (2005). Equilibrium Exchange Rates in Central and Eastern Europe: A Meta-Regression Analysis. Journal of Banking and Finance. Égert, B., Halpern, L., MacDonald, R. (2005). Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues. Journal of Economic Surveys. Égert, B., Kierzenkowski, R., Reininger, T. (2005). Asymmetric Fluctuation Bands in ERM and ERM-II: Lessons to and Challenges for New EU Member States of Central and Eastern Europe. Eastern European Economics, 43(1), 81–114. Égert, B., Kutan, A.M. (2005). Introduction: Exchange Rate Economics in Transition Countries. Economic Systems, 29(2), 123–129. Égert, B., Lahrèche-Révil, A., Lommatzsch, K. (2005). The Stock-Flow Approach to the Real Exchange Rate in Transition Economies. In: S. Motamen-Samadian (ed.), Economic Transition in Central and Eastern European Countries (2), 205–239.

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Égert, B., Lommatzsch, K. (2005). Equilibrium Exchange Rates in the Transition: The Tradable Price-Based Real Appreciation and Estimation Uncertainty. In: Welfens and Wziatek-Kubiak (eds). Structural Change and Exchange Rate Dynamics in the Context of EU Eastern Enlargement, Springer Verlag. Égert, B., Morales-Zumaqero, A. (2005). Exchange Rate Regimes, Foreign Exchange Volatility and Export Performance in Central and Eastern Europe Just Another Blur Project? Focus on European Economic Integration 1, OeNB. Eichberger, J., Summer, M. (2005). Bank Capital, Liquidity and Systemic Risk. Journal of the European Economic Association, April-May 2005 3(2–3), 547–555. Elsinger, J., Fenz, G., Haar-Stöhr, I., Hildebrandt, A., Reininger, T., Reitschuler, G. (2005). Slowdown in Global Economic Momentum – Asia and the USA to Remain Growth Drivers of World Economy in 2005. Monetary Policy & the Economy Q1/05, OeNB, 6–22. Elsinger, H., Summer, M. (2005). Arbitrage and Optimal Portfolio Choice with Financial Constraints. Investment Management and Financial Innovations 3. Ettl, I., Schober-Rhomberg, A. (2005). The Implementation of the Basel Core Principles in Selected Countries from the Perspective of the International Monetary Fund. Focus on European Economic Integration 2/05, OeNB, 157–173. Fabiani, S., Druant, M., Hernando, I., Kwapil, C., Landau, B., Loupias, C., Martins, F., Mathä, T., Sabbatini, R., Stahl, H., Stokman, A. (2005). The Pricing Behaviour of Firms in the Euro Area: New Survey Evidence. ECB Working Paper No. 535. Fenz G., Gnan, E., Köhler-Töglhofer, Schneider M. (eds) (2005). Macroeconomic Models and Forecasts for Austria. OeNB Workshops, No. 5. Fenz, G., Scharler, J. (2005). Temporary Slowdown of Economic Activity in Austria Expected to Be Overcome Fast, but Downside Risks Increased. Economic Outlook for Austria from 2005 to 2007 (June 2005). Monetary Policy & the Economy Q2/05, OeNB, 8–26. Fenz, G., Schneider, M., (2005). High Price Competitiveness of Austrian Exporters and Recovery of Private Consumption Support. Economic Activity-Economic Outlook for Austria from 2005 to 2007 (December 2005). Monetary Policy & the Economy Q2/05, OeNB, 6–28. Fenz, G., Schneider, M., Spitzer, M. (2005). The Economic Indicator of the OeNB: Methods and Forecasting Performance. OeNB Workshops, No. 5, 126–144. Fenz, G., Spitzer, M. (2005) AQM – The Austrian Quarterly Model of the Oesterreichische Nationalbank. OeNB Workshops No. 5, 11–60. Ferrando, A., Fritzer, F., Hartmann, P., Heider, F., Lauro, B., Lo Duca, M. (2005). Indicators of Financial Modernisation. ECB Occasional Paper. Fidrmuc, J., (2005). Trade Structure during Accession to the EU. Post-Communist Economies 17(2), 225–234. Fidrmuc, J. (2005). Austria’s EU Accession and Trade. Monetary Policy & the Economy Q2/05, OeNB, 170–177. Fluch, M., Fuchs, M. (2005). Beurteilung des neuen Statistik-Angebots der OeNB durch die Öffentlichkeit. Statistiken – Daten & Analysen Q3/05, OeNB. Fluch, M., Rumler, F. (2005). Price Developments in Austria after EU Accession and in Monetary Union. Monetary Policy & the Economy Q2/05, OeNB, 69–89. Fluch, M., Rumler, F. (2005). Unterschiede des VPI und HVPI – Sind zwei parallele Verbraucherpreis-Inflationsindizes zweckmäßig? Statistiken – Daten & Analysen, Q4/05, OeNB, 67–77.

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Fluch, M., Stix, H. (2005). Perceived Inflation in Austria –Extent, Explanations, Effects. Monetary Policy & the Economy 3/05, OeNB, 22–47. Fuentes, A., Silgoner, M.A., Wörgötter, A., Wurzel, E. (2005). OECD Economic Surveys: Austria, 2005 (8), OECD, Paris. Glück, H., Schleicher, St. (2005). Monetary Policy in Real-Time Situations: The Relevance of Simple Instrument Rules. Proceedings of the 65th Anniversary Conference of the Institute of Economics, Zagreb, 251–277. Gnan, E., Kwapil, C., Valderrama, M.T. (2005). EU and EMU Entry: A Monetary Policy Regime Change for Austria? Monetary Policy & the Economy Q2/05, OeNB, 53–68. Grossmann, B., Hauth, E. (2005). Entwicklung der öffentlichen Beschäftigung in Österreich 1997 bis 2003. Studie im Auftrag des Bundesministeriums für Finanzen. Vienna. Grossmann, B., Hauth, E., Pop, S. (2005). Fiscal Spending Rules in Europe. Monetary Policy & the Economy Q4/05, OeNB, 82-98. Grossmann, B., Prammer, D. (2005). A Disaggregated Approach to Analyzing Public Finances in Austria. Monetary Policy & the Economy Q4/05, OeNB, 61–75. Gruber, T., Ritzberger-Grünwald, D. (2005). Euro Changeover in the New EU Member States – A Preview. Focus on European Economic Integration 1, OeNB, 52–75. Haushofer, H., Moser, G., Schardax, F., Unger, R. (2005). Fundamental and Nonfundamental Factors in the Euro/US Dollar Market in 2002 and 2003. Monetary Policy & the Economy 1/05, OeNB, 58–76. Haussteiner, I. (2005). Wenn Sprache töten kann – Vom Über-Setzen und UntreuWerden. Die Übersetzung von Pablo de Santis. In: Kurz, I., Kaindl, K. (eds). Wortklauber, Sinnverdreher, Brückenbauer? ÜbersetzerInnen und DolmetscherInnen als literarische Geschöpfe. LIT-Verlag, Münster. Hildebrandt, A., Schneider, M., Silgoner, M.A. (2005). Economic Momentum Slows in the Euro Area – Energy Price Developments Have a Negative Impact. Monetary Policy & the Economy 3/05, OeNB, 6–21. Hochreiter, E., Tavlas, G. (2005). Two Roads to the Euro: The Monetary Experiences of Austria and Greece. In: Schadler, Susan (ed.). Euro adoption in Central and Eastern Europe: opportunities and challenges. International Monetary Fund, Washington D.C., 187–201. Hofer, A. (2005). The International Monetary Fund’s Balance Sheet Approach to Financial Crisis Prevention and Resolution. Monetary Policy & the Economy 1/05, OeNB, 77–94. Janger, J. (2005). The Research and Development System in Austria – Input and Output Indicators. Monetary Policy & the Economy 1/05, OeNB, 43–57. Janger, J. (2005). Sectoral Regulation in Austria before and after EU Accession – The Network Industries as a Case in Point. Monetary Policy & the Economy Q2/05, OeNB, 178–195. Janger, J., Kwapil, C., Pointner, W. (2005). Determinants of Consumption Growth in Austria – Results of a Representative Survey. Monetary Policy & the Economy Q3/05, OeNB, 48–65. Katterl, A., Köhler-Töglhofer, W. (2005). The Impact of EU Accession on Austria’s Budget Policy. Monetary Policy & the Economy Q2/05, OeNB, 101–116. Kaufmann, S. (2005). Dating Turning Points for Austria: A Suggestion. OeNB Workshops, No. 5, 148–167.

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Knell, M. (2005). Demographic Fluctuations, Sustainability Factors and Intergenerational Fairness – An Assessment of Austria’s New Pension System. Monetary Policy & the Economy 1/05, OeNB, 23–42. Knell, M. (2005). On the Design of Sustainable and Fair PAYG Pension Systems When Cohort Sizes Change. OeNB Working Paper, No. 95. Knell, M., Stix, H. (2005). How Robust are Money Demand Estimations? A MetaAnalytic Summary of Findings about Income Elasticities. Kredit und Kapital, 38(4), 515–540. Knell, M., Stix, H. (2005). The Income Elasticity of Money Demand. A Meta-Analysis of Empirical Results. Journal of Economic Surveys. 19(3), July, 513–533. Köhler-Töglhofer, W., Schratzenstaller, M., Wagener, A. (2005). Company Taxation in an Enlarged European Union. Monetary Policy & the Economy Q1/05, OeNB, 96–102. Köhler-Töglhofer, W., Zagler, M. (2005). The Dynamics of Public Debt and Compositional Effects of Fiscal Policy. In: National Tax Journal 58 (Proc.), 302–309. Köhler-Töglhofer, W., Zagler, M. (2005). The Impact of Different Fiscal Policy Regimes on Public Debt Dynamics. In: Banca d’Italia (ed.), Public Debt. Research Department Public Finance Workshop Proceedings, 651–678. Kwapil, C., Rumler F. (2005). Price Setting in Austria — Results from the Eurosystem Inflation Persistence Network. Monetary Policy & the Economy Q1/05, 48–60. Kwapil, C., Baumgartner, J., Scharler, J. (2005). The Price Setting Behaviour of Austrian Firms: Some Survey Evidence. ECB Working Paper, No. 464. Kugler, P., Kaufmann, S. (2005). Does Money Matter for Inflation in the Euro Area? OeNB Working Paper 103. Leibrecht, M., Bellak, C., Römisch, R. (2005). FDI and Taxation: Some Methodological Aspects and New Evidence for Central and Eastern European Countries. OeNB Workshops, No. 6, 23–52. Leitner, K.-H., Schaffhauser-Linzatti, M., Stowasser, R., Wagner, K. (2005). Data Envelopment Analysis as Method for Evaluating Intellectual Capital. Management, Consulting Practice on Intellectual Capital, Journal of Intellectual Capital 6 (4), pp. 528–543. Liebscher, K., Christl, J., Mooslechner, P., Ritzberger-Grünwald, D. (eds) (2005). European Economic Integration and South-East Europe: Challenges and Prospects. Edward Elgar, Cheltenham, UK and Northampton, MA, USA. Lindner, I., Stubits, M. (2005). A Constitutional Treaty for an Enlarged Union: Are there Fundamental Changes for EMU? OeNB Workshops, No. 4, 20–47. Mooslechner, P. (2005). 10 Years of Austrian EU Membership:Elements of an Overall Economic Assessmaent. Monetary Policy & the Economy Q2/05, OeNB, 30–45. Mooslechner, P. (2005). Vom „ruinösen Wettbewerb“ zur wettbewerbsfähigen Position auf einem um Osteuropa erweiterten Heimmarkt. Banken und Bankenpolitik in Österreich seit den 1970er Jahren. In: Rathkolb, O., Venus, Th., Zimmerl, U., Bank Austria Creditanstalt. 150 Jahre österreichische Bankengeschichte im Zentrum Europas, Vienna. Mooslechner, P., Ritzberger-Grünwald, D. (2005). "Step by Step": Das neue Europa auf dem Weg zu einer gemeinsamen Währung. Wirtschaftspolitische Blätter, 3/2005. Mooslechner, P., Ritzberger-Grünwald, D. (2005). Monetary Policy in a EuroDominated Environment – Challenges for Central Banks in South-East Europe. In: Liebscher, K., Christl, J., Mooslechner, P., Ritzberger-Grünwald, D. (eds). European

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Economic Integration and South-East Europe: Challenges and Prospects. Edward Elgar, Cheltenham, UK and Northampton, MA, USA. Moser, G., Pointner, W., Scharler, J. (2005). Financial Globalisation, Capital Account Liberalization and International Consumption Risk Sharing. Focus on European Economic Integration 1, OeNB. Moser, G., Rumler, F., Scharler, J. (2005). Forecasting Austrian Inflation. OeNB Workshops, No. 5, 275–319. Nauschnigg, F. (2005). Österreichs langfristige Wachstums- und Wohlstandsentwicklung im EU Vergleich. Finanznachrichten 20/2005. Nauschnigg, F. (2005). The Austrian Experience with Financial Transformation through EU/EMU Membership – Possible Lessons for CEE Countries. In Economic Policy Institute Sofia (ed.), Financial Sectors Development in Central and Eastern European Countries and EU Integration. Nauschnigg, F. (2005). Österreich bei weitem besser als die Schweiz – Eine wirtschaftliche Kosten/Nutzen Rechnung seit dem EU-Beitritt. Kommunal, No. 2/2005. Pointner, W. (2005). In & Out – A Country Comparison Reflecting on the Enlargement Round of 1995. Monetary Policy & the Economy Q2/05, OeNB, 90–100. Prammer, D. (2005). Comments on Session II at the 7th Banca d’Italia Workshop on Public Finance (Public Expenditure). Public Expenditure, Public Finance Workshop Series, Banca d’Italia. De Raaij, G., Raunig, B. (2005). Evaluating Density Forecasts of Stock Market Returns. European Journal of Finance 11(2), 151–166. Raunig, B. (2005). How Well Do Models Of Stock Market Volatility Forecast At Longer Horizons? Forecasting Financial Markets: Theory and Applications. Lodz University Press, 71–83. Reininger, T., Walko, Z. (2005). The Croatian Banking System. Financial Stability Report No. 9, OeNB, 110–126. Rumler, F. (2005). Estimates of the Open Economy New Keynesian Phillips Curve for Euro Area Countries. ECB Working Paper Series, No. 496. Scharler, J. (2005). Understanding the Stock Market's Response to Monetary Policy Shocks. OeNB Working Paper 93. Silgoner, M.A. (2005). An Overview of European Economic Indicators: Great Variety of Data on the Euro Area, Need for More Extensive Coverage of the New EU Member States. Monetary Policy & the Economy 3/05, OeNB, 66–89. Stiglbauer, A. (2005). Has Accession to the EU and Monetary Union Changed Austria’s Labor Market? State of Play and Need for Action. Monetary Policy & the Economy Q2/05, OeNB, 152–169. Stix, H. (2013). Why Do People Save in Cash? Distrust, Memories of Banking Crises, Weak Institutions and Dollarization. Journal of Banking and Finance, 37(11), 4087– 4106. Stix, H. (2013). Does the Broad Public Want to Consolidate Public Debt? – The Role of Fairness and of Policy Credibility, Kyklos, 66(1), 102-129. Stix, H. (2013). Wird ein nachhaltiger Staatsschuldenabbau von der Bevölkerung unterstützt? – Einige Ergebnisse zum Wählerverhalten, der Rolle von Fairness und zur Glaubwürdigkeit der Wirtschaftspolitik, Ökonomenstimme. Von Kalckreuth, U., Schmidt, T., Stix, H. (2013). Choosing and Using Payment Instruments: Evidence from German Microdata. Empirical Economics, doi:10.1007/s00181-013-0708-3.

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Waschiczek, W. (2005). The Impact of EU Accession on Austria’s Financial Structure. Monetary Policy & the Economy Q2/05, OeNB, 117–129.

2004 Barisitz, S. (2004). Distorted Incentives Fading? The Evolution of the Russian Banking Sector since Perestroika. Focus on European Economic Integration 1/04, OeNB, 122– 151. Barisitz, S. (2004). Exchange Rate Arrangements and Monetary Policy in Southeastern Europe and Turkey: Some Stylized Facts. Focus on European Economic Integration 2/04, OeNB, 95–118. Barisitz, S. (2004). South Eastern European Challenges and Prospects – The OeNB’s Conference on European Economic Integration 2004. Focus on European Economic Integration 2/04, OeNB, 184–194. Boss, M., Summer, M., Thurner, S. (2004). Contagion Flow through Banking Networks. In: Marian Bubak, Geert Dick van Albada, Peter M. A. Sloot, et al. (eds). Lecture Notes in Computer Science, Vol. 3038, Computational Science – ICCS 2004: 4th International Conference, Kraków, Poland, June 6–9, Proceedings, Part III, Springer-Verlag Heidelberg. Boss, M., Elsinger, H., Summer, M., Thurner, S. (2004). An Empirical Analysis of the Network Structure of the Austrian Interbank Market. Financial Stability Report, No. 7, OeNB. Boss, M., Elsinger, H., Summer, M., Thurner, S. (2004). Network Topology of the Interbank Market. Quantitative Finance. Brandner, P., Frisch, H., Grossmann, B., Hauth, E. (2004). Eine Schuldenbremse für Österreich. Projektbericht on behalf of Bundesministerium für Finanzen, Vienna. Christl, J., Just, C. (2004). Regional Monetary Arrangements – Are Currency Unions the Way Forward? OeNB Workshops No. 3, Vienna, 90–111. Crespo-Cuaresma, J., Égert, B., MacDonald, R. (2004). Nonlinear Exchange Rate Dynamics in Target Zones: A Bumpy Road Toward a Honeymoon. Focus on European Economic Integration 1/04, OeNB, 46–69. Crespo-Cuaresma, J., Égert, B., Reininger, T. (2004). Interest Rate Pass-Through in EU Acceding Countries: The Case of the Czech Republic, Hungary and Poland. In: Masciandaro (ed.). Financial Intermediation in the New Europe: Banks, Markets and Regulation in EU Accession Countries, Edward Elgar, 345–369. Crespo-Cuaresma, J., Fidrmuc, J., Silgoner, M. A. (2004). Exchange Rate Developments and Fundamentals in Four EU Accession and Candidate Countries: Bulgaria, Croatia, Romania, Turkey. Focus on European Economic Integration 2/04, OeNB, 119–137. Crespo-Cuaresmo, J., Gnan, E., Ritzberger-Grünwald, D. (2004). Searching for The Natural Rate of Interest: A Euro-area Perspective. Empirica 31, 185–204. Crespo-Cuaresmo, J., Gnan, E., Ritzberger-Grünwald, D. (2004). Searching for The Natural Rate of Interest: A Euro-area Perspective. OeNB Working Paper 84. Crespo-Cuaresmo, J., Gnan, E., Ritzberger-Grünwald, D. (2004). Using pre-EMU Money Market Rates to Assess Monetary Policy in the Euro Area. Economic Modelling, 21, 1003–1014. Crespo-Cuaresma, J., Reitschuler, G. (2004). Ricardian Equivalence Revisited: Evidence from OECD-countries. Economics Bulletin 5 (16), 1–10.

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Crespo-Cuaresma, J., Silgoner, M. (2004). On the Role of European Integration for Income Convergence. In: Ch. Dreger and G. Hansen (eds). Advances in Macroeconometric Modelling. Papers and Proceedings of the 3rd IWH Workshop in Macroeconometrics, Nomos Verlagsgesellschaft, Baden-Baden. Crespo-Cuaresma, J., Foster, N., Scharler, J. (2004). On the Determinants of Absorptive Capacity: Evidence from OECD Countries. OeNB Workshops No. 2, Vienna, 58–81. Dirschmid, W., Glatzer, E. (2004). Determinants of the Household Saving Rate in Austria. Monetary Policy & the Economy Q4/04, OeNB. Dvorsky, S. (2004). Central Bank Independence in Southeastern Europe with a View to Future EU Accession. Focus on European Economic Integration 2/04, OeNB, 50–75. Égert, B. (2004). Equilibrium Exchange Rates in Southeastern Europe, Russia, Ukraine and Turkey: Healthy or (Dutch) Diseased? Focus on European Economic Integration 2/04, OeNB, 138–182. Égert, B., Ritzberger-Grünwald, D., Silgoner, M. (2004). Inflation Differentials in Europe: Past Experience and Future Prospects. Monetary Policy & the Economy Q1/04, OeNB, 47–72. Eichberger, J., Summer, M. (2004). Bank Capital, Liquidity and Systemic Risk. OeNB Working Paper 87. Elsinger, H., Lehar, A., Summer, M., Wells, S. (2004). Using Market Information for Banking System Risk Assessment, Vosta Studie 06/04, OeNB. Falk, A., Knell, M. (2004). Choosing the Joneses: Endogenous Goals and Reference Standards. Scandinavian Journal of Economics 106 (3), September, 417–435. Fenz, G., Gruber, T., Pointner, W. (2004). Subdued Economic Activity in the Euro Area and Austria Despite International Recovery. Monetary Policy & the Economy Q1/04, OeNB, 6–22. Fenz, G., Scharler, J., Schneider, M. (2004). Global Recovery and Stable Domestic Economic Conditions Support Moderate Upswing – Economic Outlook for Austria from 2004 to 2006 (Spring 2004). Monetary Policy & the Economy, Q2/04, OeNB, 6– 26. Fenz, G., Schneider, M. (2004). Growth Stimulus from Tax Reform in 2005 to Overshadow Weaker Global Economic Momentum Economic Outlook for Austria from 2004 to 2006 (Fall 2004). Monetary Policy & the Economy, Q4/04, OeNB, 6–24. Fenz, G., Schneider, M. (2004). Macroeconomic Models and Forecasts for Austria. Monetary Policy & the Economy Q4/04, OeNB, Vienna, 73–76. Fidrmuc, J. (2004). The Endogeneity of the Optimum Currency Area Criteria, IntraIndustry Trade, and EMU Enlargement. Contemporary Economic 22 (1), 1–12. Fidrmuc, J. (2004). The Core and Periphery of World Economy. Journal of International Trade & Economic Development, Vol. 13, No. 1, 89–106. Fidrmuc, J., Gruber, T. (2004). EU-Erweiterung und Wirkungen auf Österreich. Die Volkswirtschaft No. 3/2004, Bern. Fidrmuc, J., Korhonen, I. (2004). A Meta-Analysis of Business Cycle Correlations between the Euro Area, CEECs and SEECs – What Do We Know? Focus on European Economic Integration 2/04, OeNB, 76–94. Fidrmuc, J., Korhonen, I. (2004). The Euro Goes East: Implications of the 2000–2002 Economic Slowdown for Synchronization of Business Cycles between the Euro Area and CEECs. Comparative Economic Studies, Vol. 46, No. 1, 45–62.

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Fluch, M., Wenko, I. (2004). Redesign des Statistikangebots der OeNB. Statistiken – Daten & Analysen Q4/04, OeNB, 72–82. Fritzer, F. (2004). Financial Market Structure and Economic Growth: A Cross-Country Perspective. Monetary Policy & the Economy, Q2/04, OeNB, 72–87. Fuentes, A., M.A. Silgoner, A. Wörgötter and E. Wurzel (2005). OECD Economic Surveys: Austria – Volume 2005 (8), OECD, Paris. Glück, H., Schleicher, St. (2004). Forecast Quality and Simple Instrument Rules – A Real-Time Data Approach. Deutsche Bundesbank Discussion Paper Series 1: Studies of the Economic Research Centre, No. 30/2004. Gnan, E., Janger, J., Scharler, J. (2004). Determinants of Long-Term Growth in Austria – A Call for a National Growth Strategy. Monetary Policy & the Economy Q1/04, OeNB, 23–46. Gnan, E., Janger, J. Scharler, J. (2004). Editorial. OeNB Workshops No. 2, 5–7. Grossmann, B., Hauth, E. (2004). Entwicklung der öffentlichen Beschäftigung in Österreich. Projektbericht im Auftrag des Staatsschuldenausschusses, Vienna. Gruber, T. (2004). Employment and Labour Market Flexibility in the New EU Member States. Focus on European Economic Integration 1/04, OeNB, 96–121. Haussteiner, I. (2004). Übersetzungstechnologie, Projektmanagement und Lokalisierung. UNIVERSITAS, No. 4/2004. Haussteiner, I. (2004). Wissensmanagement für ÜbersetzerInnen. UNIVERSITAS, No. 4/2004. Haussteiner, I. (2004). Collaborative Translation for Europe's Central Banks. MultiLingual Computing, No. 61, Vol. 15, 1st edition, 22–26. Haussteiner, I. (2004). Translators: Adding Value as Knowledge Workers. The ATA Chronicle, Vol. XXXIII, No. 3, March, 28–34. Haussteiner, I. (2004). Übersetzer als "Knowledge Workers". In: Mayer, F., K.-D. Schmitz, J. Zeumer (eds). Terminologie und Wissensmanagement. Cologne: Deutscher Terminologie Tag e.V., March, 155–167. Hildebrandt, A., Schneider, M., Silgoner, M.A. (2004). Economic Recovery in the Euro Area and in Austria in a Dynamic Global Economic Environment. Monetary Policy & the Economy, Q3/04, OeNB, 6–21. Hildebrandt, A., Wörz, J. (2004). Determinants of Geographical Concentration Patterns in Central and Eastern European Countries, Focus on European Economic Integration Q1/04, OeNB, 70–95. Hildebrandt, A., Wörz, J. (2004). Patterns of Industrial Specialization and Concentration in CEECs: Theoretical Explanations and their Empirical Relevance. In: WziatekKubiak, A., Welfens, P.J.J. (eds). Structural Change and Exchange Rate Dynamics in the Context of EU Eastern Enlargement, Springer. Hildebrandt, A., Wörz, J. (2004). Explaining Industrial Location Patterns in CEECs. Wirtschaftspolitische Blätter 1. Hochreiter, E., Siklos, P. (2004). From Floating to Monetary Union: The Economic Distance between Exchange Rate Regimes. SUERF Studies 2004/5, December. Hochreiter, E., LLewellyn, D. (2004). European Monetary and Financial Integration: Evolution and Prospects. SUERF Studies 2004/2. Hochreiter, E., Sitz, A. (2004). Monetary Policy and EMU Enlargement: The Adoption of the Euro – Introduction and Overview. Atlantic Economic Journal, 32(4), December, 263–267.

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Hochreiter, E., Tavlas, G. (2004). Two Roads to the Euro: The Monetary Experiences of Austria and Greece. Conference Proceedings "Adopting the Euro – Challenges and Opportunities for New Member States of the European Union", International Monetary Fund, Washington D.C. Hochreiter, E., Tavlas, G. (2004). On the Road Again: An Essay on the Optimal Path to EMU for the New Member States. Journal of Economic Policy Modeling, Vol. 26/7, October, 793–816. Janger, J. (2004). Der Beitrag des World Economic Forum zur wirtschaftspolitischen Wachstumsdiskussion. Wirtschaftspolitische Blätter 1. Janger, J., Wagner, K. (2004). Sectoral Specialization in Austria and in the EU-15. Monetary Policy & the Economy, Q2/04, OeNB, 40–58. Just, C. (2004). The International Financial Architecture: Official Proposals on Crisis Resolution and the Role of the Private Sector, Monetary Policy & the Economy, Q1/04, OeNB, 73–89. Just, C., Nauschnigg, F. (2004). 60 Years of Bretton Woods – A Summary of the Bretton Woods Conference. Monetary Policy & the Economy, Q3/04, OeNB, 90–96. Kaufmann, S., Valderrama, M. T. (2004). Modeling Credit Aggregates. OeNB Working Paper 90. Kaufmann, S., Valderrama, M. T. (2004). The Role of Bank Lending in Market-Based and Bank-Based Financial Systems. Monetary Policy & the Economy, Q2/04, OeNB, 88–97. Köhler-Töglhofer, W. (2004). Rahmenbedingungen für die nationale Fiskalpolitik in Europa – Bestimmungsgründe und Determinanten. In: Gubitzer, L., Trukeschitz, B. (ed.). Frauen und Budget. Peter Lang – Europäischer Verlag der Wissenschaften. Knell, M. (2004). Institutional Interactions in Open Economies-Implications for EMU. In: Robert Solow (ed.), Structural Reform and Economic Policy, Basingstoke, Hampshire [et al.]: Palgrave Macmillan in association with International Economic Association, 2004, 41–65. Knell, M. (2004). The Role of Revaluation and Adjustment Factors in Pay-As-You-Go Pension Systems. Monetary Policy & the Economy, Q2/04, OeNB, 55–71. Leitner, K.-H., Schaffhauser-Linzatti, M., Stowasser, R., Wagner, K. (2004). Revealing the True Story behind Statistical Information: A Data Envelopment Approach (DEA) to Analyse Austrian's University's (Research) Performance. In: Ali Emprouznejad and Viktor Podinovski (eds). Data Envelopment Analysis and Performance Management, 4th International Symposium of DEA, Aston Business School, Aston University, UK, 332–338. Liebscher, K., Christl, J., Mooslechner, P., Ritzberger-Grünwald, D. (eds) (2004). The Economic Potential of a Larger Europe. Edward Elgar, Cheltenham, UK and Northampton, MA, USA. Lindner, I., Schmidt, P. (2004). The Draft Treaty Establishing a Constitution for Europe – Institutional Aspects of Monetary Union. Monetary Policy & the Economy, Q3/04, OeNB, 53–62. Lindner, I., Stubits, M. (2004). A Constitutional Treaty for an Enlarged Union: Are there Fundamental Changes for EMU? OeNB Workshops No. 4, 20–47. Mooslechner, P. (2004). The Transformation of the European Financial System – A Brief Introduction to Issues and Literature. OeNB Workshops No. 1, 7–22. Mooslechner, P. (2004). The Challenge of Economic Growth: What are the Issues? OeNB Workshops No. 2, 8–16.

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Mooslechner, P., Backé, P. (2004). From Transition to Monetary Integration: Central and Eastern Europe on its Way to the Euro. Comparative Economic Studies, March, Vol. 46, No. 1, 177–190. Mooslechner, P., Schuberth, H., Schürz, M. (eds) (2004). Economic Policy under Uncertainty: The Role of Truth and Accountability in Policy Advice. Edward Elgar, Cheltenham, UK and Northampton, MA, USA. Mooslechner, P., Schürz, M., Weber, B. (2004). Transparency as a Mechanism of Governance in Financial Systems. In: Puntscher-Riekmann et al. (eds) The State of Europe. Transformations of Statehood from a European Perspective. Frankfurter Beiträge zu Wirtschafts- und Sozialwissenschaften, Campus Verlag October. Mooslechner, P., Schürz, M., Weber, B. (2004). Transparenz als Steuerungsmechanismus in Finanzsystemen. Wirtschaft und Gesellschaft 30 (3). Moser, G., Pointer, W., Reitschuler, G. (2004). Economic Growth in Denmark, Sweden and the United Kingdom since the Start of Monetary Union. Monetary Policy & the Economy, Q4/04, OeNB, 53–66. Moser, G., Pointer, W., Scharler, J. (2004). International Risk Sharing in Europe: Has Anything Changed? In: Liebscher, K., Christl, J., Mooslechner, P., RitzbergerGrünwald, D. (eds). The Economic Potential of a Larger Europe. Edward Elgar, Cheltenham, UK and Northampton, MA, USA. Moser, G., Rumler, F., Scharler, J. (2004). Forecasting Austrian Inflation. OeNB Working Paper No. 91, Vienna. Nauschnigg, F. (2004). Eine wirtschaftliche Kosten-Nutzen-Rechnung des EU-Beitritts für Österreich. Zukunft, 06/2004. Nauschnigg, F. (2004). Fast alle haben gewonnen – Eine wirtschaftliche Kosten-NutzenRechnung des EU-Beitritts für Österreich. Arbeit & Wirtschaft, November. Prammer, D. (2004). Expansionary Fiscal Consolidations? An Appraisal of the Literature on Non-Keynesian Effects of Fiscal Policy and a Case Study for Austria. Monetary Policy & the Economy, Q3/04, OeNB, 34–52. De Raaij, G., Raunig, B. (2004). Evaluating VaR Models With Likelihood Ratio Tests: A Note. Finance Letters, 2(2), 16–19. Redak, V., Schuberth, H., Weber, B. (2004). The Political Economy of International Financial Governance. Monetary Policy & the Economy, Q4/04, OeNB, 68–72. Scharler, J. (2004). International Risk Sharing and Investor Protection: Some Evidence from the EU-15, Economics Bulletin, Vol. 6, No. 23, pp. 1–13. Schmidt, P. (2004). A Constitutional Treaty for an Enlarged Europe: Institutional and Economic Implications for Economic and Monetary Union. Monetary Policy & the Economy, Q4/04, OeNB, 77–80. Schneider, M. (2004). The Impact of Oil Price Changes on Growth and Inflation. Monetary Policy & the Economy, Q2/04, OeNB, 27–36. Schneider, M., Spitzer, M. (2004). Forecasting Austrian GDP Using the Generalized Dynamic Factor Model. OeNB Working Paper 89. Schuberth, H. (2004). Ziele der Geldpolitik – Die Rolle von Konjunkturstabilisierung. Wirtschaft und Gesellschaft 2/2004, Vienna. Schuberth, H. (2004). Knightian Uncertainty, Accountability and Economic Policy Rules. In: Mooslechner, P., Schuberth, H. und M. Schürz (eds). Economic Policy under Uncertainty: The Role of Truth and Accountability in Policy Advice. Edward Elgar, Cheltenham, UK and Northampton, MA, USA.

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Schuberth, H. (2004). The Political Economy of International Financial Governance. Monetary Policy & the Economy Q4/04, OeNB. Schuberth, H., Schürz, M. (2004). Rewards for the Rich, Rhetoric for the Poor? Financial Governance Mechanisms in the U.S. In: The Transformation of the European Financial System. Where do We Go? Where Should We Go? OeNB Workshops No.1, Vienna, July, 116–141. Schuberth, H., Schürz, M. (2004). Paradoxes of Financial Governance in U.S. Capitalism. In: I.D. Salavrakos (ed.). Aspects of Globalisation, Regionalisation and Business. London Metropolitan University, U.K., 141–157. Schürz, M. (2004). Grenzen der Leistungsgerechtigkeit. In: Neumaier, O., C. Sedmak and M. Zichy (eds). Philosophische Perspektiven. Ontos Frankfurt am Main/Lancaster, 187– 192. Schürz, M. (2004). Philosophical Concepts of Truth in Economic Policy Advice. In: Economic Policy under Uncertainty: The Role of Truth and Accountability in Policy Advice. Edward Elgar, Cheltenham, UK and Northampton, MA, USA. Schürz, M. (2004). Leistungsgerechtigkeit an der Börse oder neoliberale Politik der Ungleichheit. Informationen der Gesellschaft für Politische Aufklärung, No. 74, March. Schürz, M. (2004). Moralisierende Habgier? Managergehälter im US-Kapitalismus. WISO, 27. Jg., No. 1, 13–30. Schürz, M., Weber, B. (2004). Governance of Financial Systems: Transparency – A Trust-Signalling Device. In: Manas University (ed.). Recent Economic Developments and Problems in the Transition Economies. Kyrgyz-Turkisj Manas University Publication 61, 458–468. Silgoner, M.A. (2004). Developments on individual OECD countries – Slovak Republic, OECD Economic Outlook 2004/2, No. 76, December 2004, 103–104. Stiglbauer, A. (2004). Longer Working Hours? More Flexible Work Schedules? Do Austrian Economic Policymakers Need to Act? Monetary Policy & the Economy Q4/04, OeNB, 81–86. Stix, H. (2004). Foreign Currency Demand Since 2002 – Evidence from Five Central and Eastern European Countries, CESifo Forum, No. 4/2004, 19–24. Stix, H. (2004). How Do Debit Cards Affect Cash Demand? Survey Data Evidence. Empirica, Vol. 31 (2–3), 93–115. Stix, H. (2004). The Impact of ATM Transactions and Cashless Payments on Cash Demand in Austria. Monetary Policy & the Economy, Q1/04, OeNB, 90–105. Summer, M., Wuerz, M. (2004). Financial Regulation in the New Europe. In: Maciandero, D. (eds). Financial Intermediation in the New Europe. Edward Elgar. Walko, Z. (2004). The Bulgarian Financial Sector. Financial Stability Report No. 8, OeNB, 92–106. Walko, Z., Reininger, T. (2004). Credit and Deposit Interest Rate Margins in Four New EU Member States. Financial Stability Report No. 8, OeNB, 60–76. Waschiczek, W. (2004). The Role of Corporate Bonds for Finance in Austria. Monetary Policy & the Economy, Q4/04, OeNB, 39–52.

2003 Backé, P., Fidrmuc, J., Reininger, R., Schardax, F. (2003). Price Dynamics in Central and Eastern European EU Accession Countries. Emerging Markets Finance and Trade, 39 (3), 42–78.

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Barisitz, S. (2003). On the Catching-Up Route – The Development of Banking in Serbia and Montenegro since 2000. Focus on Transition, No. 1, OeNB. Barisitz, S., Dvorsky, S., Fidrmuc, J. Reitschuler, G., Schardax, F., Silgoner, M. A. (2003). East–West Conference, Conference Report. Acta oeconomica, 53 (4). Boss, M., Elsinger, H., Summer, M., Thurner, S. (2003). The Network Topology of the Interbank Market. Santa Fe Institute, Working Paper 03–10–054. Braumann, B. (2003). A Financial Decelerator in Europe? Evidence from Austria. Focus on Austria, No. 1, OeNB. Crespo-Cuaresma, J., Dimitz, M. A., Ritzberger-Grünwald, D. (2003). The Impact of European Integration on Growth: What Can We Learn for EU Accession? In: TumpelGugerell, G., Mooslechner, P. (eds). Economic Convergence and Divergence in Europe – Growth and Regional Development in an Enlarged European Union, Edward Elgar, Cheltenham, UK and Northampton, MA, USA. Crespo-Cuaresmo, J., Gnan, E., Ritzberger-Grünwald, D. (2003). Searching for The Natural Rate of Interest: A Euro-area Perspective. BIS Papers No. 19, 60–80. Crespo-Cuaresma, J., Fidrmuc, J., MacDonald, R. (2003). The Monetary Approach to Exchange Rates: Panel Data Evidence for Selected CEECs, Focus on Transition No. 2, OeNB. Crespo-Cuaresma, J., Fidrmuc, J., MacDonald, R. (2003). The Monetary Approach to Exchange Rates in the CEECs. Working Paper No. 14, Institute for Economies in Transition (BOFIT), Bank of Finland, Helsinki. Crespo-Cuaresma, J., Fidrmuc, J., MacDonald, R. (2003). The Monetary Approach to Exchange Rates in the CEECs. Working Paper No. 0313, University of Vienna, Department of Economics, Vienna. Crespo-Cuaresma, J., Gnan, E., Ritzberger-Grünwald, D. (2003). Searching for the Natural Rate of Interest: A Euro-Area Perspective. BIS Paper 19. Monetary Policy in A Changing Environment. Crespo-Cuaresma, J., Reitschuler, G., Silgoner, M. A. (2003). Assessing the Smoothing Impact of Automatic Stabilizers: Evidence from Europe. In: Tumpel-Gugerell, G., Mooslechner, P. (eds). Structural Challenges for Europe. Edward Elgar, Cheltenham, UK and Northampton, MA, USA, 341–352. Crespo-Cuaresma, J., Silgoner, M. A. (2003). The Fiscal Smile: The Effectiveness and Limits of Fiscal Stabilizers. IMF Working Paper WP/03/182. Czerny, M., Wagner, K. (2003). Structural Factors in the Austrian Housing and Real Estate Market. Focus on Austria, No. 3, OeNB, 95–111. Dvorsky, S., Lindner, I. (2003). Anpassung der Stimmrechtsmodalitäten im EZB-Rat. Berichte und Studien 2/2003, OeNB. Eckert, D. (2003). Investment-Based Pension Reform as a Solution of the Old-Age Crisis? Risk Issues in the Pension Reform Debate. Focus on Austria, No. 2, OeNB. Eckert, D., Prammer, D. (2003). Tax Incentives in Investment-Based Pension Reform and Fiscal Sustainability. Focus on Austria, No. 2, OeNB, 178–181. Égert, B. (2003). Nominal and Real Convergence in Estonia: The Balassa-Samuelson (Dis)connection: Oil shale, Tradable Goods, Regulated Prices and Other Culprits. Bank of Estonia Working Paper, No. 4, 2003. Égert, B. (2003). Equilibrium real exchange rates in CEE acceding countries: Can we have DEER with BEER without FEER ? A Critical Survey of the Literature. Focus on Transition, No. 2, OeNB.

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Égert, B., Gruber, T., Reininger, T. (2003). Challenges for EU Acceding Countries' Exchange Rate Strategies after EU Accession and Asymmetric Application of the Exchange Rate Criterion. Focus on Transition, No. 2, OeNB. Égert, B., Kierzenkowski, R. (2003). Asymmetric Fluctuation Bands in ERM and ERMII: Lessons from the Past and Challenges for EU Enlargement. William Davidson Institute Working Paper No. 597. Égert, B., Lahrèche-Révil, A. (2003). Estimating the Fundamental Equilibrium Exchange Rate of Central and Eastern European Countries: The EMU Enlargement Perspective, CEPII Working Paper No. 05, June. Égert, B., Lahrèche-Révil, A. (2003). Estimating Equilibrium Exchange Rates of Central and Eastern European Countries: The Challenge of Euro Adoption, Review of World Economics (Weltwirtschaftliches Archiv), No. 4, CEPII and University of Amiens, 139 (4), 683–708. Égert, B., Lommatzsch, K., Drine, I., Rault, C. (2003). The Balassa-Samuelson Effect in Central and Eastern Europe: Myth or Reality? Journal of Comparative Economics, Vol. 31, No. 3, 552–572. Égert, B., Lommatzsch, K. (2003). Equilibrium Real Exchange Rates in Acceding Countries: How Large Is Our Confidence (Interval)? Focus on Transition, No. 2, OeNB. Eichberger, J., Summer, M. (2003). The Costs and Benefits of Capital Adequacy Regulation in a Banking System. VOSTA Studie, No. 6–03. Fenz, G., Schneider, M., Spitzer, M. (2003). Economic Outlook for Austria from 2003– 2005 (Spring 2003), Focus on Austria, No. 2, OeNB, 20–41. Fidrmuc, J. (2003). Is Accession to EMU More Justifiable ex post than ex ante? In: De Souza, L.V., van Aarle, B. (eds). The Euro area and the New EU Member States, Palgrave, Hampshire, 23–38. Fidrmuc, J. (2003). Twin Deficits – Implications of Current Account and Fiscal Imbalances for the Accession Countries. In: Tumpel-Gugerell, G., Mooslechner, P. (eds). Structural Challenges for Europe. Edward Elgar, Cheltenham, UK and Northampton, MA, USA. Fidrmuc, J. (2003). The Feldstein-Horioka Puzzle and Twin Deficits in Selected Countries. Economics of Planning 36 (2), 135–152. Fidrmuc, J. (2003). The Endogeneity of the Optimum Currency Area Criteria, Intraindustry Trade, and EMU Enlargement. In: Heiduk, G., Horvath, J. (eds). On Some Currency Regime Considerations for the Visegrad Countries, Duisburger Volkswirtschaftliche Schriften, Band 39, Duncker & Humbold, Berlin, 69–94. Fidrmuc, Jan, Fidrmuc, Jarko (2003). Disintegration and Trade. Review of International Economics 11 (5), 811–829. Fidrmuc, J., Korhonen, I. (2003). Similarity of Supply and Demand Shocks between the Euro Area and the CEECs. Economic Systems 27 (3), 313–334. Fidrmuc, J., Korhonen I. (2003). Optimal Currency Area between the EU and Accession Countries: The Status Quo. In: Tumpel-Gugerell, G., Mooslechner, P. (eds). Economic Convergence and Divergence in Europe, Growth and Regional Development in an Enlarged European Union. Edward Elgar, Cheltenham, UK and Northampton, MA, USA, 209–230. Fidrmuc, J., Korhonen, I. (2003). The Euro Goes East: Implications of the 2000–2002 Economic Slowdown for Synchronisation of Business Cycles between the Euro Area and CEECs, Working Paper No. 6, Institute for Economies in Transition (BOFIT), Bank of Finland, Helsinki, 2003.

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Fidrmuc, J., Wörgötter, A., Wörz, J. (2003). Does Foreign Policy Determine Foreign Trade? Cointegration Analysis of Exports from Selected Countries to the Middle East. Applied Economics 35 (5), 565–571. Frisch, H., Hauth, E. (2003). Wachstumsstrategien für Österreich im finanzpolitischen Rahmen der EU. In: Wirtschaftskammer Österreich (ed.). Wirtschaftspolitische Blätter, 2, Vienna. Frühwirth-Schnatter, S., Kaufmann, S. (2003). Investigating Asymmetries in the Bank Lending Channel. An Analysis Using Austrian Banks' Balance Sheet Data. OeNB Working Paper No. 85, Vienna. Glatzer, E., Scheicher, M. (2003). Modelling the Implied Probability of Stock Market Movements. ECB Working Paper No. 212. Haussteiner, I. (2003). Terminology, Translation and Knowledge Organization – Structured Knowledge from the Translator's Workplace. In: Studies in English Language and Literature, No. 11. Hochreiter, E. (2003). The Impact of European Monetary Union Enlargement on Central Banks. Introductory Essay, Atlantic Economic Journal, Vol. 31, No. 4, December. Hochreiter, E., Korinek, A., Siklos, P. (2003). The Potential Consequences of Alternative Exchange Rate Regimes: A Study of Three Candidate Regions. International Journal of Economics and Finance, Vol. 8, No. 4, October, 327–350. Kaufmann, S. (2003). The Cross-Sectional and the Time Dimension of the Bank Lending Channel: The Austrian Case. In: I. Angeloni, A. Kashyap and B. Mojon (eds). Monetary Policy Transmission in the Euro Area. Cambridge University Press, December, 347– 358. Kaufmann, S. (2003). The Business Cycle of European Countries. Bayesian Clustering of Country-Individual IP Growth Series. OeNB Working Paper No. 83, Vienna. Kaufmann, S., Dulleck, U. (2003). On the Effectiveness of DSM Information Programs on Household Electricity Demand. Energy Policy. Knell, M., Stix, H. (2003). How Robust are Money Demand Estimations? A MetaAnalytic Approach. OeNB Working Paper No. 81, Vienna. Köhler-Töglhofer, W. (2003). The Impact of Fiscal Policy on Long-Run Growth – A Few Considerations. In: Wirtschaftspolitische Blätter, 2/2003. Köhler-Töglhofer, W. (2003). Tax Reforms – A Comment. In: Banca d’Italia. Tax Policy, Research Department Public Finance Workshop proceedings. Köhler-Töglhofer, W., Backé, P., Schardax, F. (2003). Fiscal Developments in Central and Eastern European EU Accession Countries – An Overview One-and-a Half Years before the May 2004 Enlargement of the European Union. Focus on Transition, No. 1, OeNB. Kwapil, C. (2003). Discussion of 'Pension Finance Reform, Tax Incentives for Life Annuities and the Problem of Adverse Selection'. Focus on Austria, No. 2, OeNB, 121– 123. Mooslechner, P. (2003). The Thin Red Line: Public Private Partnerships und die schwierige Abgrenzung zwischen Staat und privatem Sektor in Zeiten von Maastricht. Mooslechner, P. (2003). Finance for Growth, Finance and Growth, Finance or Growth…? Three Perspectives on the Interaction of Financial Markets and the Real Economy. Focus on Austria, No. 1, OeNB, 76–94. Mooslechner, P., Schürz, M., Weber, B. (2003). Transparency as Mechanism of Governance in Financial Systems, Paper presented at the Workshop 'Transformations of Statehood from a European Perspective', Austrian Academy of Science, Vienna.

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Mooslechner, P., Tumpel-Gugerell, G. (2003). Introduction: Structural Reform and Competitiveness – The Position and Future of an Integrated Europe. In: TumpelGugerell, G., Mooslechner, P. (eds). Structural Challenges for Europe. Edward Elgar, Cheltenham, UK and Northampton, MA, USA. Nauschnigg, F. (2003). The Euro and the Use of Foreign currencies in Central and Eastern Europe. INFER Studies Vol. 8, The Euro in Eastern Europe: Options for the Monetary and Currency Regime. Nauschnigg, F. (2003). Kapitalverkehrsliberalisierung. In: Globalisierung und Kapitalverkehr, Wirtschaftspolitische Blätter 4/2003. Nauschnigg, F. (2003). Internationale Finanzarchitektur im Zeitalter der Globalisierung, In: Häupl, Michael (ed.). Wirtschaft für die Menschen, Alternativen zum Neoliberalismus im Zeitalter der Globalisierung. Nauschnigg, F. (2003). Kapitalverkehrsliberalisierung – Die österreichischen Erfahrungen. Wirtschaft und Gesellschaft, 29(1). Pesendorfer, M., Schmidt-Dengler, P. (2003). Identification and Estimation of Dynamic Games, NBER Working Paper No. 9726. Raunig, B. (2003). Testing for Longer Horizon Predictability of Return Volatility with an Application to the German DAX. OeNB Working Paper 86, Vienna. Reininger, T., Schardax, F., Summer, M. (2003). Financial System Transition in Central Europe: The First Decade. In: Tumpel-Gugerell, G., Mooslechner, P. (eds). Economic Convergence and Divergence in Europe: Growth and Regional Development in an Enlarged European Union. Edward Elgar, Cheltenham, UK and Northampton, MA, USA. Schardax, F. (2003). Exchange Rates and Long-Term Interest Rates in Central Europe – How do Monetary and Fiscal Policy Affect them? In: Tumpel-Gugerell, G., Mooslechner, P. (eds). Structural Challenges for Europe. Edward Elgar, Cheltenham, UK and Northampton, MA, USA. Scharler, J., Schneider, M., Spitzer, M. (2003). Economic Outlook for Austria from 2003 to 2005 (Fall 2003), Focus on Austria, No. 2, OeNB, 11–30. Scheicher, M. (2003). What Drives Investor Risk Aversion? Daily Evidence from the German Equity Market. BIS Quarterly Review, Part 7, June. Schmidt-Dengler, P. (2003). A Structural Model of Aggregate US Job Flows: Another Look, Journal of Applied Econometrics, 18, 113–118. Schneider, M., Steinberger, T. (2002). Economic Outlook for Austria from 2003–2005 (Spring 2003). Focus on Austria, No. 4, OeNB, 6–27. Schuberth, H. (2003). Discussion of 'Varieties of Capitalism and Pension Reform: Will the "Riester Rente" Transform the German Coordinated Market Economy?' Focus on Austria, No. 2, OeNB, 109–110. Schuberth, H. (2003). Zur Notwendigkeit makroökonomischer Stabilisierungspolitik im Euroraum, In: Angelo, S. and M. Mesch, Wirtschaftspolitische Koordination in der Europäischen Währungsunion, Wirtschaftswissenschaftliche Tagungen der Arbeiterkammer Wien, Vol. 7. Schürz, M. (2003). Neue Zielkonflikte der Geldpolitik? WSI-Mitteilungen No. 12. Schürz, M. (2003). Ziele der Geldpolitik im Wandel der Zeit. In: Becker, J. et al. (eds). Geld Macht Krise. HSK/IE 22, Promedia Verlag Vienna. Schürz, M., Mooslechner, P. (2003). Institutional Conflicts and Complementarities between Wage Bargaining Institutions and an Independent Central Bank. In: Franzese, R., Mooslechner, P., Schürz, M. Institutional Conflicts and Complementarities.

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Monetary Policy and Wage Bargaining Institutions in EMU. Kluwer Academic Publishers, Boston, 255–269. Schürz, M., Tumpel-Gugerell, G. (2003). Veränderungen von Finanzsystemen: Von Banken zu Finanzmärkten? In: Weinzierl, R. (ed.). American Way of Life versus europäischer Weg. Löcker-Verlag. Schürz, M., Tumpel-Gugerell, G. (2003). Wieviel Moral braucht der Markt? Wirtschaftspolitische Blätter No. 1. Stiglbauer, A., Stahl, F., Winter-Ebmer, R., Zweimüller, J. (2003). Job Creation and Job Destruction in a Regulated Labor Market: The Case of Austria. Empirica 30 (2), 127–148. Stix, H. (2003). How Do Debit Cards Affect Cash Demand? Survey Data Evidence. OeNB Working Paper No. 82, Vienna. Summer, M. (2003). Banking Regulation and Systemic Risk. Open Economies Review, 14, 43–70. Tumpel-Gugerell, G., Mooslechner, P. (eds) (2003). Economic Convergence and Divergence in Europe. Cheltenham, UK and Northampton, MA, USA: Edward Elgar. Tumpel-Gugerell, G., Mooslechner, P. (eds) (2003). Structural Challenges for Europe. Cheltenham, UK and Northampton, MA, USA: Edward Elgar. Valderrama, M. T. (2003). The Role of Trade Credit and Bank Lending Relationships in the Transmission Mechanism in Austria. In: Angeloni, I., Kashyap, A., Mojon, B. (eds). Monetary Policy Transmission in the Euro Area, Cambridge University Press. Valderrama, M. T. (2003). Banking Structure and Investment in Austria: Some Empirical Evidence. Focus on Austria, No. 1, OeNB, 150–170. Waschiczek, W. (2003). The Bank Lending Survey for the Euro Area – Background, Objectives and Results for Austria. Focus on Austria, No. 3, OeNB, 122–139.

2002 Backé, P. (2002). Fiscal Effects of EU Membership for Central European and Baltic EU Accession Countries. Focus on Transition, No. 2, OeNB, 151–164. Backé, P., Moser, G., Pointner, W. (2002). Exchange Rate Strategies of the EU Accession Countries on the Road to EMU: Impact on the Euro Area. Focus on Austria, No. 2, OeNB, 134–151. Backé, P., Wójcik, C. (2002). Towards the Euro: Some Thoughts about the Speed of Monetary Integration of Central and Eastern European EU Accession Countries. Bank i Kredyt 8, Narodowy Bank Polski. Barisitz, S. (2002). Les systèmes bancaires en Bulgarie et Roumanie – défis et perspectives de développement. Le Courrier des Pays de l'Est, No. 1021. Barisitz, S. (2002). The Emergence of Market-Oriented Banking Systems in Estonia, Latvia and Lithuania (1988–1997). Focus on Transition, No. 2, OeNB, 84–106. Brandner, P., Grech, H. (2002). Why did Central Banks Intervene in The EMS? The Post 1003 Experience. OeNB Working Papers 77. Braumann, B. (2002). High Inflation and Real Wages. IMF Staff Papers 01/50. Braumann, B. (2002). Financial Liberalization in Austria: Why so Smooth? Financial Stability. Breinlinger, L., Glogova, E. (2002). Determinants of Initial Public Offerings: A European Time-Series Cross-Section Analysis. Financial Stability Report, No. 3, OeNB, 87–106.

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Crespo-Cuaresma, J., Dimitz, M. A., Ritzberger-Grünwald, D. (2002). Growth Effects of European Integration: Implications for EU Enlargement. Focus on Transition, No. 1, OeNB, 87–100. Crespo-Cuaresma, J., Dimitz, M. A., Ritzberger-Grünwald, D. (2002). Growth, Convergence and EU Membership. OeNB Working Paper No. 62, Vienna. Dell’mour, R. (2002). Austria’s Direct Investment and EU Enlargement. Focus on Transition, No. 1, OeNB, 71–86. Ditlbacher, U., Fidrmuc, J., Walter, P. (2002). Private Capital Flows to Emerging Markets in the 1990s and Their Impact on Financial Markets. Financial Stability Report, No. 4, OeNB, 115–131. Eckert, D., Lane, B. (2002). Anonymity, Ordinal Preference Proximity and Imposed Social Choices. Social Choice and Welfare 19, 681–684. Elsinger, H., Lehar, A., Summer, M. (2002). A New Approach to Assessing the Risk of Interbank Loans. Financial Stability Report, No. 3, OeNB, 75–86. Elsinger, H., Lehar, A., Summer, M. (2002). Risk Assessment for Banking Systems. OeNB Working Paper No. 79, Vienna. Felderer, B., Grossmann, B., Koman, R. (2002). The Size of the Public Sector. Wirtschaftspolitische Blätter, No. 3, Wirtschaftskammer Österreich. Fenz, G., Spitzer, M. (2002). Economic Outlook for Austria from 2002 to 2004 (Spring 2002). Focus on Austria, No. 2, OeNB, 17–38. Fidrmuc, J. (2002). Twin Deficits: Implications of Current Account and Fiscal Imbalances for the Accession Countries. Focus on Transition, No. 2, OeNB, 72–83. Fidrmuc, J., Dillon, P., Wykoff, F. C., Xie, M. (2002). Will the Slovaks Stay the Course? In: Dillon, Patricia, Wykoff, Frank C. (eds). Creating Capitalism, Transitions and Growth in Post-Soviet Europe. Edward Elgar, Cheltenham, UK and Northampton, MA, USA, 220–237. Fidrmuc, J., Moser, G., Pointner, W., Ritzberger-Grünwald, D., Schmidt, P., Fidrmuc, J., Wörgötter, A., Wörz J. (2002). Does Foreign Policy Determine Foreign Trade? Cointegration Analysis of Exports from Selected Countries to the Middle East. Applied Economics 2003 (35), 565–571. Fidrmuc, J., Schardax, F. (2002). The ‘Pre-Ins’ Ante Portas? Euro Area Enlargement, Optimum Currency Area and Nominal Convergence. In: Caesar, R., Scharrer, H.-E. (eds). European Economic and Monetary Union: An Initial Assessment, Nomos Verlaggesellschaft, Baden-Baden, 317–340. Fritzer, F., Moser, G., Scharler, J. (2002). Forecasting Austrian HICP and its Components using VAR and ARIMA Models. OeNB Working Paper No. 73, Vienna. Glatzer, E., Scheicher, M. (2002). EURIBOR Interest Rate Instruments as Indicators of Financial Market Expectations. Focus on Austria, No. 2, OeNB, 154–177. Haussteiner, I. (2002). Euro Proficiency for Translators – Translation and Terminological Issues with a Special Focus on Austria and English into German. American Translators Association (ATA) Chronicle, January. Haussteiner, I., Lane, C. (2002). Language Technologies Experts – SpezialistInnen für Übersetzungs- und Kommunikationstechnologien. In: Kurz, I., Moisl, A. (eds). Berufsbilder für Übersetzer und Dolmetscher. WUV-Universitätsverlag, Vienna. Haussteiner, I. (2002). Fachinformation und Terminologie zur Wirtschafts- und Währungsunion und zum Euro. In: Forty-Third Annual Conference. American Translators Association Proceedings, ATA, Virginia.

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Hochreiter, E., Schmidt-Hebbel, K., Winckler, G. (2002). Monetary Union: European Lessons, Latin American Prospects. North American Journal of Economics and Finance, Vol. 13, No. 2. Hochreiter, E., Siklos, P. L. (2002). Choosing an Exchange Rate Regime: Selected Issues and Their Relevance for the Southern Cone Region. In: North American Journal of Economics and Finance, Vol. 13, No. 2. Hochreiter, E., Wagner, H. (2002). The Road to the Euro – Exchange Rate Arrangements in European Transition Economies. In: Tavlas, G., Ulan, M. (eds). Annals of the American Academy of Social and Political Science, Vol. 579, Exchange Rate Regimes and Capital Flows, 168–182. Hochreiter, E., Rovelli, R. (2002). The Generation and Distribution of Central Bank Seigniorage in the Czech Republic, Hungary and Poland. Banca Nazionale del Lavoro, Quarterly Review December 2002 Issue. Kalirai, H., Scheicher, M. (2002). Macroeconomic Stress Testing: Preliminary Evidence for Austria. Financial Stability Report, No. 3, OeNB, 58–74. Kaufmann, S. (2002). Is there an Asymmetric Effect of Monetary Policy over Time? A Bayesian Analysis Using Austrian Data. Empirical Economics 27 (2), 277–297, and in: Hamilton, J. D., Baldev, Raj (eds). Advances in Markov-Switching Models, Springer. Kaufmann, S. (2002). Asymmetries in bank lending behaviour. Austria during the 1990s. OeNB Working Paper 56 and ECB Working Paper 97. Kaufmann, S., Frühwirth-Schnatter, S. (2002). Bayesian Analysis of Switching ARCH Models. Journal of Time Series Analysis, 23 (4), 425–458. Kaufmann, S., Scharler, J., Winckler, G. (2002). The Austrian Current Account: Driven by Twin Deficits or by Intertemporal Expenditure Allocation? Empirical Economics 27 (3), 529–542. Knell, M. (2002). Wage Setting and Strategic Interaction With and Without a Monetary Union. Focus on Austria, No. 3, OeNB, 83–94. Knell, M. (2002). Wage Formation in Open Economies and the Role for Monetary and Wage-Setting Institutions, OeNB Working Paper No. 63, Vienna. Knell, M. (2002). The Effects of EMU on Euro Area Unemployment. Atlantic Economic Journal 30 (3), 244–262. Köhler-Töglhofer, W. (2002). Fiscal Policy and Growth – A Comment. In: Banca d’Italia, The Impact of Fiscal Growth, Research Department Public Finance Workshop Proceedings. 633–639. Lehar, A., Scheicher, M., Schittenkopf, C. (2002). GARCH vs. Stochastic Volatility: Option Pricing and Risk Management. Journal of Banking & Finance 26, 323–345. Lindner, I., Olechowski-Hrdlicka, K. (2002). Institutional Implications of EU Enlargement in the Area of Economic and Monetary Policies. Focus on Austria, No. 2, OeNB, 84–98. MacDonald, R., Wójcik, C. (2002). Catching Up: The Role of Demand, Supply and Regulated Price Effects on the Real Exchange Rates of Four Accession Countries. Focus on Transition, No. 2, OeNB, 38–57. Mooslechner, P., Stix, H., Wagner, K. (2002). The Payment Habits of Austrian Households – Results of a Study on the Use of Payment Cards and the Structure of Payment Transactions in 2000. Focus on Austria, No. 1, OeNB, 89–117. Oberndorfer, C. (2002). Distinguishing Current Account Transactions from Financial Flows – An Analysis of Austria's Current and Financial Transactions with Countries and Regions. Focus on Austria, No. 4, OeNB, 92–103.

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Raunig, B., De Raaij, G. (2002). Evaluating Density Forecasts with an Application to Stock Market Returns. OeNB Working Paper 59, and Bundesbank Working Paper 08/02. Schardax, F. (2002). Real Convergence, Real Exchange Rates and Inflation in the CEECs. Polish Nationalbank (NBP), Bank i Kredyt. Schardax, F. (2002). An Early Warning Model for Currency Crises in Central and Eastern Europe. Focus on Transition, No. 1, OeNB, 108–124. Schardax, F. (2002). Exchange Rates and Long-Term Interest Rates in Central Europe: How Do Monetary and Fiscal Policy Affect Them? Focus on Transition, No. 2, OeNB, 58–71. Schardax, F. Reininger, T., Summer, M. (2002). The Financial System in the Czech Republic, Hungary and Poland after a Decade of Transition. Bundesbank Policy Discussion Paper. Schneider, M. (2002). Raumordnung, Betriebsansiedlung und Finanzausgleich. In: Theurl, E. (ed.). Kompendium der österreichischen Finanzpolitik, Heidelberg, Springer, 770– 784. Schneider, M. (2002). Local Fiscal Equalisation based on Fiscal Capacity: The Case of Austria. Fiscal Studies 23 (1), 105–133. Schneider, M., Bröcker, J. (2002). How does Economic Development in Eastern Europe Affect Austria's Regions? A Multiregional General Equilibrium Framework. Journal of Regional Science, 42 (2), 257–285. Schneider, M., Schober-Rhomberg, A., Weber, B. (2002). EU Enlargement to the East: Effects on the EU-15 in General and on Austria in Particular. An Overview of the Literature on Selected Aspects. Focus on Transition, No. 1, OeNB, 44–70. Schneider, M., Vierbauch, D. (2002). Budgetäre Spillovers am Beispiel Wiens. Wirtschaft und Gesellschaft, 28(4), 527–548. Schürz, M., Mooslechner, P. (2002). A Selective Survey on International Macroeconomic Coordination Literature: Any Lessons for EMU? In: Ugur, M. (ed.). An Open Economy Macroeconomics Reader. Routledge, republished from Kluwer. Schürz, M., Tumpel-Gugerell, G. (2002). Begriff der Stabilitätspolitik im Wandel der Zeit: Paradigmenwechsel und Paradigmenkontinuität. In: Chaloupek, G., Guger, A., Nowotny, E., Schwödiauer G. (eds). Ökonomie in Theorie und Praxis. Berlin. Stiglbauer, A. (2002). Identification of Wage Rigidities in Microdata – A Critical Literature Review. Focus on Austria 3, OeNB, 110–126. Stiglbauer, A., Huber, P. et al. (2002). Analyse der Wiener Wirtschaftsaktivitäten. Studie des Österreichischen Instituts für Wirtschaftsforschung im Auftrag des Magistrats der Stadt Wien, MA 26, Vienna, February. Stix, H. (2002). Foreign Currency Holdings in the Central and Eastern European Countries. WIIW Monthly Report No. 1, 2002, 10–18. Stix, H. (2002). Besonders beliebt in Zentral- und Osteuropa: Fremdwährungen. Finanznachrichten, No. 3, 27–34. Stix, H. (2002). Die Auswirkungen von elektronischem Geld auf die Geldpolitik. Wirtschaftspolitische Blätter, No. 2, 110–119. Stix, H. (2002). The Euro in Central and Eastern Europe – Survey Evidence from Five Countries. CESifo Forum, No. 3, 33–28. Stix, H. (2002). Does Central Bank Intervention Influence the Probability of a Speculative Attack: Evidence from the EMS. OeNB Working Paper No. 80, Vienna.

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Summer, M. (2002). Financial Markets, the Structure of Long Term Investments and Labor Income Risks. Research in Economics 56, 265–298. Summer, M., Niederle, M. (2002). Income Tax Enforcement with a Self Interested Auditor. In: Murshed, M. (ed.). Issues in Positive Political Economy, Routledge, London. Tumpel-Gugerell, G., Wolfe, L., Mooslechner, P. (eds) (2002). Completing Transition: The Main Challenges, Springer. Valderrama, M.T. (2002). The Financial Accelerator in Austria. Financial Stability Report, No. 3, OeNB, 51. Waschiczek, W. (2002). Der österreichische Aktienmarkt in makroökonomischer Perspektive. In: Wirtschaftskammer Österreich, Abteilung für Finanz- und Handelspolitik (ed.). Tagungsband zum Kapitalmarktsymposium. Wissenschaftliche Reihe: Wissenschaft und Wirtschaftspraxis, Band 12, 57–65. Waschiczek, W. (2002). Austria. In: European Central Bank (ed.). Report on Financial Structures, 237–259. Waschiczek, W. (2002). Foreign Currency Loans in Austria – Efficiency and Risk Considerations. Financial Stability Report, No. 4, OeNB, 83–99.

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