Strukturwandlungen der deutschen Volkswirtschaft

Ohne Zusammenfassung     

Das Kreditproblem in der Volkswirtschaft

Ohne ZusammenfassungErweiterte Wiedergabe eines am 15. April 1931 in der Zürcher Volkswirtschaftlichen Gesellschaft gehaltenen Vortrages.     

Die energetische Struktur der Volkswirtschaft: Answendung der Matrizenrechnung in der volkswirtschaftlichen Energetik

Ohne ZusammenfassungIch bin meinen Mitarbeitern im Institut für Statistik der Universität Wien, insbesondere Herrn Dr. A. Adam und Herrn Dr. J. Roppert, dafür zu Dank verpflichtet, daß sie mir durch Diskussion und Ratschläge bei der Abfassung dieses Aufsatzes behilflich waren.     

Energienachfrage und Potential Output in Gesamtwirtschaft und Industrie

Summary The purpose of this article is to estimate the effects of the quadrupling of oil prices at the end of 1973 on potential output of the Austrian economy as a whole and of manufacturing in particular. The hypothesis is tested that the increase of relative energy prices (energy prices relative to domestic prices) makes previous measures of potential output obsolete. Using dynamic Cobb-Douglas type production functions for estimating potential output leads to the following results. If energy is implemented in the production function (either directly as a third factor in addition to capital and labour or indirectly via relative energy prices) there is strong evidence that part of the prerecession potential output has become obsolete in the recession of 1975. A comparison with an estimated potential output which doesn't take into account energy as a factor of production indicates that such a procedure could lead to wrong policy conclusions.

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Empirica 2'78 Zeitschrift des Österreichischen Institutes für Wirtschaftsforschung

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Für wertvolle Anregungen danke ich den Universitätsprofessoren Dr.E. Streissler und Dr.G. Tichy.     

Berufswechsel und Berufsausbildung als Bedingungen und Folgen des Fortschritts

Ohne ZusammenfassungAus dem Englischen übersetzt von Dr. A. Nußbaumer, Wien     

Sparen und Einkommensverteilung

Summary The wage and salary bill in Austrian manufacturing industry is divided into a fixed and a variable part on the assumption that wages of skilled labour and salaries can be regarded as fixed, wages of unskilled and semi-skilled workers as variable cost. The excess of value added (factor incomes) over the variable wage cost (gross profit) is shown to be more stable in the trade cycle than the excess of value added over the total wage cost (net profit); this accords with the idea of a relatively stable mark-up on variable cost.As a proportion of value added, gross profit and even more net profit in the above sense decline gradually over the period 1956 to 1972. This would indicate a declining degree of monopoly or increasing degree of competition which presumably applies mainly to the export markets. The hypothesis is advanced that more active competition has taken place in foreign markets which enabled Austrian manufacturing to increase its share in those markets. The reduction in profit margins was made possible by tax allowances i.e. by the quick write-off a considerable part of new investment. This tax allowances amounts to an interest free government loan to the investor, which in fact will not be repaid of the depreciation funds are reinvested immediately after the equipment is fully written off. The proportion of the industry's capital which is in this sense financed by the government increases over time as investment expands; a profit rate has to be earned only on the remaining capital stock, so that without reduction of the return on private capital the profit margins may be reduced. (The tax allowances thus amount to a virtual reduction of the capital coefficient which proceeds gradually over a long time.)The paper finally shows the relation between the share of savings and the share of corporate incomes in the total private income during the cycle. The share of saving moves with the cycle and this is made possible by a shift to corporate income.     

Geldtheorie und Konjunkturtheorie

Ohne Zusammenfassung     

Transfer und Preisbewegung

Ohne ZusammenfassungÜbersetzt von Oskar Morgenstern, Wien.     

Wirtschaftsordnung und Statistik

Ohne Zusammenfassung     

Ertragswert und Kostenwert

Ohne Zusammenfassung     

Monopolpreis und Dumping

Ohne Zusammenfassung     

Zeit und Produktion

Ohne Zusammenfassung     

Budgetdefizit und Leistungsbilanzsaldo-Replik

Summary In a previous article I explained the gradual deterioration of Austria's current balance in the seventies and its pronounced deficit in 1976 and 1977 within the framework of the relative absorption approach by reference to capacity utilization rates that were high compared to those of other countries. The high utilization rates in turn were the consequence of an expansive economic policy, in particular of an expansive fiscal policy. Guger-Wörgötter, on the other hand, interpret the deficit in the Austrian current balance as the result of weak foreign demand and view the budget deficit as an attempt to compensate for insufficient aggregate demand; they conclude that full employment policies should be continued disregarding the economic development abroad. The present paper presents additional evidence that the deficit in the current balance is attributable to the fact that Austria's economic policy maintained a higher rate of capacity utilization than abroad. Such a policy serves a useful purpose and can be financed by foreign currency reserves only in the case of a cyclical demand deficiency; in the long run, however, it can be sustained at best only under a regime of flexible exchange rates (continuing devaluation).     

Menschenzahl und Menschenschicksal

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Wettbewerbsordnung und Landwirtschaft

Ohne Zusammenfassung     

Wirtschaftswachstum und Wohlfahrtsstaat

Ohne Zusammenfassung     

Wirtschaftstheoretiker und Wirtschaftsprognose

Ohne Zusammenfassung