Research of international scope The Austrian Institute for Economic Research – WIFO was founded by Friedrich August von Hayek and Ludwig von Mises in 1927. Its brief is to analyse economic developments in Austria and internationally, thereby contributing to the establishment of a sound basis for economic policy and entrepreneurial decision-making and ensuring that economic policy discussion is carried on at an objective level. Theory-based research that draws on the latest empirical methodologies and a solid knowledge of institutional and political structures are guarantees for the constant high level of performance for which WIFO is renowned. Among WIFO's clients are national institutions as well as OECD, European Union and other international organisations. Its incorporation in international scientific networks widens its performance spectrum and underpins the high quality of its research work.