Abstract
Like most industrialized countries and many developing countries, Austria has taken measures to stabilise financial markets and to mitigate the sharp decrease in economic activity caused by the recent financial crisis. These measures amount to 4.2 per cent of 2008 GDP. Model simulations show that, together with fiscal measures adopted in the 10 major trading partner countries, the national stimulus packages may have slowed the decrease in Austrian real GDP by a cumulative 2.1 percentage points in 2010, preserving 41,500 jobs.
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