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  • 1
    Online Resource
    Online Resource
    A Small Global Forecasting Model (2001)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 36 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.286
    Keywords: Economics
    Abstract: This paper describes the OECD’s new small global forecasting model for the three main OECD economic regions: the United States, the euro area, and Japan. The key variables – which include output, inflation, the trade balance, and import prices – are driven by monetary and fiscal policy, exchange rates, and world demand. The projections from the model are used as a starting point to help animate the early stages of the OECD’s forecasting round. The model is essentially a demand-side model with a particular focus on the impact of global linkages and the transmission of influences between regions ...
    DOI: 10.1787/628640803664
    URL: Volltext
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    MPI Ethno. Forsch.
  • 2
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    Online Resource
    Ireland's Housing Boom : What has Driven it and Have Prices Overshot? (2006)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 27 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.492
    Keywords: Economics ; Ireland
    Abstract: The Irish housing market is very buoyant. The housing boom is driven by strong economic growth, dynamic demographics and low interest rates. However, large tax advantages and relatively lenient credit policies by banks have also played their part, and prices may have become overvalued. To the extent that high house prices reflect favourable tax treatment, they may lead to economic inefficiencies by drawing excessive resources into residential construction. While a soft landing appears the most likely prospect, a disorderly correction of house prices would pose risks for macroeconomic and possibly financial stability. In this context, one policy lever available to the government would be a phased removal of the tax advantages associated with housing. In addition, banks should remain cautious in their lending and provisioning policies.
    DOI: 10.1787/752770732812
    URL: Volltext
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  • 3
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    The Concept, Policy Use and Measurement of Structural Unemployment : Estimating a Time Varying NAIRU Across 21 OECD Countries (2000)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 76 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.250
    Keywords: Economics
    Abstract: The structural rate of unemployment and associated non-accelerating inflation rate of unemployment (the NAIRU) are of major importance to the analysis of macro and structural economic developments, although in practice these concepts are not well defined and there is considerable uncertainty and controversy concerning their measurement and policy use. The present paper reviews a range of conceptual and analytical issues and related empirical studies to examine the usefulness and limitations of such concepts. A reduced-form Phillips curve approach is found the most suitable conceptual framework for representing the NAIRU as currently used by the OECD in its policy analysis and surveillance work. Three distinct classes of NAIRU concept are identified, distinguished by the time-frame in which they are defined, which map directly into the broad requirements for macro and structural policy analysis. In line with a number of recent empirical studies, this general approach is applied ...
    DOI: 10.1787/785730283515
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  • 4
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    Online Resource
    Getting Better Value for Money from Sweden's Healthcare System (2005)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 40 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.443
    Keywords: Economics ; Sweden
    Abstract: This paper reviews the strengths and weaknesses of the Swedish healthcare system and the challenges that it will face in the future. It discusses ways to improve access to primary care, including different methods for paying GPs, whether access is less equitable than in other countries and the role of patient fees. The maximum waiting time guarantee for elective surgery is reviewed, along with ways of reducing regional variations in quality. The extent of decentralisation is questioned, as that may be affecting the quality of care and value for money in some areas, including elderly and psychiatric care. Mechanisms for improving the hospital sector are also examined including fee-for-service (DRG) payment mechanisms and whether for-profit hospitals would help. Finally, it considers ways to make financing more stable and sustainable.
    DOI: 10.1787/082725005676
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  • 5
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    Online Resource
    Housing Markets and Adjustment in Monetary Union (2007)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 41 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.550
    Keywords: Economics ; Euro Area
    Abstract: This paper highlights the factors that limit or increase cyclical divergence in the euro area and reviews one policy area that is important in fostering a speedy adjustment to shocks: the transmission of monetary policy via the housing market. A high interest rate sensitivity of housing markets is beneficial as monetary policy is more powerful in damping cyclical fluctuations overall in the euro area. However, housing and mortgage markets still differ widely, leading to asymmetric behaviour of individual countries. Large differences exist in home-ownership rates, financial markets, taxation and supply constraints. Moreover, it is important to have a financial system that can withstand asset price bubbles. In this context, the procyclicality of bank provisioning is of concern as it could lead to a credit crunch and reinforce a downturn. Prudential supervision across the area has become better co-ordinated, but still remains fragmented.
    DOI: 10.1787/208627725571
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  • 6
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    Online Resource
    Boosting Competition in Ireland (2006)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 25 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.491
    Keywords: Economics ; Ireland
    Abstract: While Ireland’s economic performance has been impressive, there are too many sectors where producers are shielded from competition, at the expense of consumers. The loss in efficiency from these policies will become more noticeable as Ireland’s growth rate settles down towards more normal levels. International evidence suggests that enhancing competition is an important means for lowering prices and boosting productivity and innovation. This paper reviews the main areas for reform, including retail trade, pharmacies, professional services such as legal and medical services, and various network industries including electricity, telecommunications and inter-city buses. It also appraises the structure and enforcement of competition law.
    DOI: 10.1787/741520025080
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  • 7
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    Online Resource
    Next Steps for Public Spending in New Zealand : The Pursuit of Effectiveness (2002)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 46 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.337
    Keywords: Economics ; New Zealand
    Abstract: This paper reviews public expenditure in New Zealand and the scope for further progress. Since the mid-1980s, New Zealand has been a world leader in public management reforms. Government agencies have been transformed by delegating managerial responsibility to them and replacing input controls with an output-based budgeting and management approach. The adoption of a medium-term top-down fiscal management framework contributed to a large reduction in public debt. But while the system is good at producing outputs cheaply and often in innovative, responsive, and customer-driven ways, it is not as good at choosing what to produce in the first place (i.e. technical versus allocative efficiency). This reflects insufficient evaluation of programmes, not enough focus on managing for outcomes, and a budget that is excessively fragmented. The quality of spending could also be improved by a greater willingness to extend the use of market-based mechanisms, including usercharges, competition ...
    DOI: 10.1787/338071481346
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  • 8
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    How to Reduce Sickness Absences in Sweden : Lessons from International Experience (2005)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 28 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.442
    Keywords: Economics ; Sweden
    Abstract: Sweden’s single biggest economic problem is the high number of people absent from work due to sickness or disability. This paper describes the problem and looks at what other countries have done to reduce absenteeism. It emphasises a mutual obligations approach to sickness insurance. This means placing greater responsibilities on the sick person, the employer and the social insurance office to get that person back to work as soon as possible.
    DOI: 10.1787/157504218841
    URL: Volltext
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