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Further publications: Thomas Url (62 hits)

Serguei Kaniovski, Martina Lizarazo López, Thieß Petersen, Thomas Url
Makroökonomische Folgen der demografischen Alterung. Simulationen für Deutschland, Japan und die USA bis 2050 (Macroeconomic Consequences of Demographic Ageing: Simulations Until 2050)
Der demographische Wandel ist in den meisten Industrienationen mit einer Alterung und Schrumpfung der Erwerbsbevölkerung verbunden. Daraus ergeben sich erhebliche Konsequenzen für zentrale makroökonomische Größen wie das Bruttoinlandsprodukt, die Arbeitsproduktivität, die Ersparnisse und Investitionen sowie den Leistungsbilanzsaldo. Angesichts des in den nächsten Jahrzehnten zu erwartenden demographischen Wandels müssen vor allem die stark alternden Länder Deutschland und Japan mit einer spürbaren Dämpfung des Wirtschaftswachstums rechnen. Allerdings kann z. B. der technologische Fortschritt in Form von Automatisierung und Digitalisierung diesen Entwicklungen entgegenwirken.
Given the size and the relative strength of the British financial service industry, the decision to pull out of the Single Market may well have more severe consequences on financial services rather than manufacturing. Brexit will create serious non-tariff trade barriers, dampening foreign trade in financial services and the local production of financial services in the UK. In the short term, continuity of existing cross border contracts requires bilateral transitional agreements between the European Commission, individual member countries of the EU 27 and the UK. In the medium to long term, the international nature of financial markets in the UK suggests resilience as a global financial centre but business related to the EU 27 is likely to migrate due to regulatory demands by the European supervisory authorities and the European Central Bank.
in: Schwerpunkt Außenwirtschaft 2018/2019
Editors: Austrian Economic Chamber
Given the size and the relative strength of the British financial service industry, the decision to pull out of the Single Market may well have more severe consequences on financial services rather than manufacturing. Brexit will create serious non-tariff trade barriers, dampening foreign trade in financial services and the local production of financial services in the UK. In the short term, continuity of existing cross border contracts requires bilateral transitional agreements between the European Commission, individual member countries of the EU 27 and the UK. In the medium to long term, the international nature of financial markets in the UK suggests resilience as a global financial centre but business related to the EU 27 is likely to migrate due to regulatory demands by the European supervisory authorities and the European Central Bank.
in: Ján Šebo, Ştefan Dragoş Voicu, Pension Savings – The Real Return 2019 Edition
Book chapters, contributions to collected volumes, Better Finance, 2019, pp.76-95, https://betterfinance.eu/publication/pension-savings-the-real-return-2019-edition/
With around 90 percent of the average retirement income received from public pension entitlements, the Austrian pension system is very reliant on the first pillar. Occupational pensions are primarily offered through pension funds and insurance companies. Direct commitments are an alternative vehicle, but their usage stagnates. The option for defined contribution plans with favourable tax treatment offered by pension funds and insurance contracts definitely boosted the occupational pensions in Austria. While occupational pensions have become more popular over time, low interest rates and a high liquidity preference dampened demand for individual life insurance contracts. Over the years 2002 through 2018, the performance of pension funds in real net terms has been positive, with an annualised average return of 0.9 percent before tax. The life insurance industry followed a distinctly more conservative investment policy and achieved an average annual net real return before tax of 2.2 percent.
Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V., 2018, (53), pp.287-297, http://www.gewisola.de/files/Schriften_der_GEWISOLA_Bd_53_2018.pdf
VÖS-Magazin, 2017, pp.16-17
Franz Sinabell, Karin Heinschink, Thomas Url
in: Justyna Góral, Marek Wigier, Risk in the food economy – theory and practice
This paper presents an overview of institutions governing risk management in Austrian agriculture and reports on recent developments in the market of crop insurances. A novel framework to manage agricultural risks more comprehensively is also presented. The major features of this margin insurance tool are shown using wheat production as an example. Ways to address moral hazard are explored in more detail. Limitations of the presented approach and ways to overcome them are discussed in the concluding section.
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