Mission and Strategy
Founded in 1927 by Friedrich August von Hayek and Ludwig von Mises for the purpose of economic analysis, WIFO is today the leading institute for applied empirical economic research in Austria with a strong commitment at the European level.
WIFO is a non-profit, independent economic research institute. By providing the highest quality in research, economic policy advice and communication, the Institute bridges the gap between basic academic research and economic policy application. It produces scientific evidence to inform economic policy decision-makers, business leaders and the general public. In this way, it makes an important contribution to solving economic and socio-political challenges. WIFO conducts empirical analyses with scientific integrity and state-of-the-art methods. It communicates its results in scientific publications, studies and through comprehensive public relations work.
Range of services
- Analysis and forecasting of economic, social and environmental developments,
- scientific research and analysis on socially relevant topics,
- quality-assured economic data,
- simulation and evaluation of the impact of economic policies,
- evidence-based economic policy advice at national and international level,
- evidence-based information for economic policy, public and international organisations,
- designing and conducting surveys.
WIFO's research is based on a broad foundation of economic theory and state-of-the-art empirical methods. Five research groups as supporting pillars of the WIFO organisation ensure the necessary breadth of bridging. WIFO has, in addition to an efficient IT and data infrastructure, detailed models for the analysis of micro, macro, regional and environmental economic issues as well as profound econometric know-how. In combination with the comprehensive coverage of economic disciplines, WIFO can identify synergies and trade-offs of economic policy measures at the economic, social and ecological level.
Well-founded experience in the processing and visualisation of complex data as well as detailed knowledge of the institutional foundations of national and European economic policy ensure the high quality of the research. WIFO cooperates with universities and research institutes in Austria and abroad and is advised by an international scientific advisory board.