Mission and strategy

WIFO, founded in 1927 by Friedrich August von Hayek and Ludwig von Mises for the purpose of business cycle analysis, is today the leading institute for applied empirical economic research in Austria with a strong commitment at a European level.

WIFO is a non-profit, independent economic research institute. Through highest quality research, economic policy advice and communication, the Institute builds a bridge between basic academic research and economic policy application. It creates scientific evidence to inform economic policy and business decision-makers as well as the general public. In this way, it makes a significant contribution to solving economic and socio-political challenges. WIFO prepares empirical analyses with scientific integrity and state-of-the-art methods. It communicates its results in scientific publications, policy reports and with the help of broad-based public relations work.

WIFO 2027: Strategy (PDF, 1.70 MB)


 

Range of services

  • analysis and forecast of economic, social and ecological trends,
  • scientific research and analyses on relevant topics,
  • quality-assured economic data,
  • simulation and evaluation of the effects of economic policy measures,
  • evidence-based economic policy advice at national and international level,
  • impartial information for economic policy, public and international organisations,
  • design and implementation of (business) surveys.

WIFO's research is based on a broad theoretical economic foundation and on state-of-the-art empirical methods. The five research areas, which are structured according to economic disciplines (macroeconomics, labour and social affairs, industrial, regional and environmental economics) and which are the cornerstones of WIFO's organisation underpin its bridging function. WIFO maintains and develops detailed models for the analysis of micro-, macro-, regional and environmental economic issues as well as sophisticated econometric know-how. In combination with its comprehensive coverage of economic disciplines, WIFO is able to identify synergies and trade-offs of economic policy measures on an economic, social and ecological level.

Extensive experience in handling and visualising complex data as well as detailed knowledge of the institutional foundations of national and European economic policy ensure a high quality of research. WIFO also cooperates with universities and research institutions abroad and is advised by an international scientific advisory board. It cooperates closely with the Economic and Social Science Computing Center (WSR) to ensure an efficient IT and data infrastructure.