62—Miess, Schmelzer/SFC Model Austria—IHS List of Figures 1 The Sequence of Accounts as in ESA 2010 . . . . . . . . . . . . . . . . . . . . . . 7 2 Difference of Net Lending/Net Borrowing of Sectors from Non-Financial Transac- tions (NFTR) Accounting and Financial Accounts (FA) (in Mio. EURO) . . . . 16 3 Revaluation of Assets for all Sectors in Aggregate until 2014 (in mln. Euro) . . . 24 4 Assets of Austrian Sectors in Comparison (in % of GDP) . . . . . . . . . . . . . 25 5 Liabilities of of Austrian Sectors in Comparison (in % of GDP) . . . . . . . . . . 26 6 Parameter Choice - Consumption out of Disposable income . . . . . . . . . . . . 28 7 Parameter Choice - Investment as Fraction of Last year’s GDP . . . . . . . . . . 29 8 Parameter Choice - Government Spending as Fraction of Last year’s GDP . . . . 30 9 Parameter Choice - Share of Sectoral Consumption Goods Production . . . . . . 31 10 Parameter Choice - Sectoral Wage Share . . . . . . . . . . . . . . . . . . . . . . . 31 11 Exogenous Variables - Exports (in bln. Euro) . . . . . . . . . . . . . . . . . . . . 33 12 Exogenous Variables - Imports (in bln. Euro) . . . . . . . . . . . . . . . . . . . . 33 13 Exogenous Variables - Social Transfers (in bln. Euro) . . . . . . . . . . . . . . . 34 14 Interest Rates - Received for Asset Holdings (in %) . . . . . . . . . . . . . . . . . 35 15 Interest Rates - Paid for Liabilities (in %) . . . . . . . . . . . . . . . . . . . . . . 35 16 Dividend Rates - Firm Equity (in %, RECV) . . . . . . . . . . . . . . . . . . . . 37 17 Dividend Rates - ICPF Shares (in %, RECV) . . . . . . . . . . . . . . . . . . . . 37 18 Dividend Rates - IFU Shares (in %, RECV) . . . . . . . . . . . . . . . . . . . . . 38 19 Extension/Shrinking of Balance Sheets (in mln. Euro) . . . . . . . . . . . . . . . 40 20 Portfolio Choice of Banks (shares of 100 %) . . . . . . . . . . . . . . . . . . . . . 41 21 Portfolio Choice of Households (shares of 100 %) . . . . . . . . . . . . . . . . . . 42 22 Portfolio Choice of OFI Sector (shares of 100 %) . . . . . . . . . . . . . . . . . . 42 23 Liability Choice of NFC sector (shares of 100 %) . . . . . . . . . . . . . . . . . . 43 24 Liability Choice of Banks (shares of 100 %) . . . . . . . . . . . . . . . . . . . . . 43 25 Austrian GDP - Past Data and Model BAU Forecast (in mln. Euro) . . . . . . . 44 26 Macroeconomic Variables - Past Data and BAU Forecast (in mln. Euro) . . . . . 45 27 Net Lending/Net Borrowing by Sector - Past Data and BAU Forecast (in mln. Euro) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 28 Projections of Total Asset Holdings in the Model (in mln. Euro) . . . . . . . . . 47 29 Net Worth by Sector (in mln. Euro) . . . . . . . . . . . . . . . . . . . . . . . . . 48 30 The Effects of Scenarios on GDP in the Model (in mln. Euro) . . . . . . . . . . . 50 31 The Effects a One-time Increase in Gov’t Spending in 2017 (in mln. Euro) . . . . 51 32 The Effects of Scenarios on Consumption in the Model (in mln. Euro) . . . . . . 52 33 The Effects of Scenarios on Household Income in the Model (in mln. Euro) . . . 53 34 The GDP Effects of Selected Scenarios in Comparison - Including an Increase in Social Transfers (in mln. Euro) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 35 The Effects on Household Income - including Increase in Social Transfers (in mln. Euro) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 36 The Effects of Tax Scenarios on Investment in the Model (in mln. Euro, all sectors) 55 37 The Effects of Tax Scenarios on Operating Surplus in the NFC (firm) Sector in the Model (in mln. Euro) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55 38 The Effects of Tax Scenarios on Operating Surplus of all Sectors (in mln. Euro) . 56 39 Operating Surplus of all Sectors incl. a Social Transfers Scenario (in mln. Euro) 56