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Working papers from the Economics Department of the OECD that cover the full range of the Department’s work including the economic situation, policy analysis and projections; fiscal policy, public expenditure and taxation; and structural issues including ageing, growth and productivity, migration, environment, human capital, housing, trade and investment, labour markets, regulatory reform, competition, health, and other issues.
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Austria's Well-being Goes Beyond GDP
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- Oliver Röhn1, Rauf Gönenç1, Christian Beer1, Romina Boarini1
- Author Affiliations
- 1: OECD, France
- 05 août 2013
- Bibliographic information
Austria enjoys strong material well-being and high quality of life. Steady convergence with top GDP per capita levels translated into decisive improvements in household disposable incomes while significant redistribution has ensured low income inequality and poverty. This has been combined with gains in leisure time, especially time spent in retirement, low unemployment, high environmental standards, rising life expectancy, a well-functioning social support network and high subjective well-being. This performance was achieved with a unique combination of supportive conditions for a dynamic business sector, priority for family based care, a wide supply of public services, and a well-functioning social partnership. Particularly remarkable for a small open economy has been the degree of stability, which may have contributed to Austria’s high quality of life. However, a number of weaknesses also exist. Older, unskilled and in particular people with migrant background, have lower labour market attachments. Outcomes in education and health care are subject to inequalities. Family services are still mainly carried out by women, who have closed the gap in education attainment with men but face tensions between work and family responsibilities and a high wage gap. The gaps experienced by people with migrant background are in several dimensions larger than in the average OECD country. This Working Paper relates to the 2013 OECD Economic Survey of Austria (http://www.oecd.org/eco/surveys/austria-2013.htm).
- family, social partnership, Austria, productivity, quality of life, well-being
- Classification JEL:
- D31: Microeconomics / Distribution / Personal Income, Wealth, and Their Distributions
- D60: Microeconomics / Welfare Economics / General
- H40: Public Economics / Publicly Provided Goods / General
- I31: Health, Education, and Welfare / Welfare, Well-Being, and Poverty / General Welfare, Well-Being
- O52: Economic Development, Innovation, Technological Change, and Growth / Economywide Country Studies / Europe