The group Macroeconomics and Business Cycles focusses on the theoretical and empirical analysis of macroeconomic dynamics and the analysis of policy relevant research questions, mainly in the areas of economic growth, business cycles, macroeconomic forecasting and financial markets.

Our analysis is based on state-of-the-art theoretical and empirical models, statistical techniques and the use of large administrative data sets. We provide forecasts of the Austrian economy on a regular basis. We follow an empirical approach with the aim to provide timely and precise recommendations for economic policy making, building on a solid methodological basis. We strive for a close integration of the modelling approaches that are used in the different areas of policy analysis and forecasting. This includes the analysis of financial markets, in particular the investigation and development of asset-pricing models and of the relevant econometric methods, as well as the modelling of risk. We develop models with a sound theoretical foundation and apply them for evaluating economic policies. All our models are subject to rigorous empirical evaluation and adapted to reflect the institutional characteristics of the Austrian and European economies, including their strong international connections.