Economic Research Between Empirics, Theory and Politics. WIFO's Repositioning after World War II

Empirical economic research obtains its raison d'être from its function of bridging economic theory, empirical evidence and economic policy. In order to provide the underpinnings of an evidence-based economic policy it is necessary to have reliable data, an intelligent context-controlled approach to interpretation and a receptive inclination on the part of economic policy decision-makers as key prerequisites. Over time, the importance accorded to these three benchmarks in WIFO's economic research has undergone substantial change. With this shift, which to some extent reflects the transformation of the economic system and developments in economic theories, WIFO has progressed from chief witness of Austria's economic development to its compass for economic policy.