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  • 1
    Language: English
    Pages: 29 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.919
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  • 2
    Language: English
    Pages: Online-Ressource (23 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1103
    Keywords: Öffentliche Schulden ; Schuldenmanagement ; Zins ; Wirtschaftswachstum ; Finanzpolitik ; Nachhaltigkeit ; Governance ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: In the wake of the financial crisis there has been renewed focus on the importance of a country’s net external debt position in determining domestic interest rates and, relatedly, its vulnerability to a crisis. This paper extends the panel estimation of OECD countries described in Turner and Spinelli (2012) to investigate the effect of external debt and its interaction with government debt on the interest-rate-growth differential. The inclusion of net external debt is found to be significant in both economic and statistical terms, and of particular importance for euro area countries in the post-crisis period. The results imply that the interest-rate effect of marginal increases in external debt or government debt is non-linear and dependent on the initial levels of debt, with the interest rate effect rising sharply in the post-crisis period for euro area countries which have a combination of both high external debt and high government debt. The policy implications for those countries under financial market pressure, especially within the euro area, are that reducing external deficits and debt are at least as important as reducing government deficits and debt. In any case, the effect of higher net external debt on interest rates provides a feedback effect which may prevent countries running sustained large current account imbalances over a long period. However, evidence of an asymmetry in the effect (between the effect of net external debt and net external assets) suggests that the pressure for adjustment will apply more strongly to deficit countries. It also implies that increased polarisation of external debt positions will raise the overall level of global interest rates.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: Acrobat Reader.
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  • 3
    Language: English
    Pages: 1 Online-Ressource (circa 73 Seiten) , Illustrationen
    Series Statement: OECD trade policy papers no. 193
    Keywords: Dienstleistungshandel ; Handelshemmnisse ; Wettbewerb ; Außenwirtschaftspolitik ; Brasilien ; Trade ; Brazil ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: This paper highlights the large contribution of services to the Brazilian economy and the under-exploited potential of services to sustain productivity gains and international competitiveness. The areas with the largest potential for regulatory reform include improvements in the general business and trading environment as well as specific policies in transport sectors, telecoms and financial services. Reforms targeting services that add value by favouring productivity and quality enhancements, as well as services that increase efficiency by reducing production costs, have strong potential to unlock manufacturing performance. The set of proposed recommendations emerging from this analysis underlines the importance of streamlining sector-level regulatory frameworks to encourage foreign entry and competition, and the role that cross-cutting improvements in the trade and business environment would play to render services providers more competitive.
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  • 4
    Language: English
    Pages: Online-Ressource (56 S.) , graph. Darst.
    Series Statement: OECD trade policy papers 161
    Keywords: Außenwirtschaftspolitik ; Betriebliche Wertschöpfung ; Internationale Arbeitsteilung ; Effektive Protektion ; Regionale Wirtschaftsintegration ; Kanada ; Trade ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur ; Fallstudie
    Abstract: Taking global value chains (GVCs) into account has important implications for trade policy. When production is vertically fragmented and trade in intermediate inputs is prevalent, one has to look differently at a certain number of issues. Through case studies, this paper provides new evidence on the incidence on services of tariffs levied on goods (case study 1) and then discusses effective rates of protection in a world of GVCs and what the removal of tariffs on intermediate inputs implies, using the example of Canada (case study 2). To illustrate how trade agreements could be made more relevant for GVCs, the paper further looks at sectoral approaches in trade negotiations through the example of the Information Technology Agreement (case study 3) and finally compares the network of regional trade agreements in force with global production networks (case study 4).
    Note: Systemvoraussetzungen: Acrobat Reader.
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  • 5
    Language: English
    Pages: 1 Online-Ressource (circa 68 Seiten) , Illustrationen
    Series Statement: OECD trade policy papers no. 194
    Keywords: Dienstleistungshandel ; Handelsliberalisierung ; Wettbewerb ; Handelshemmnisse ; Trade ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: This report explores the relationship between services trade policies and mark-ups at the firm level, taken as a measure of competitive pressure. Restrictive regulations are found to enable firms to charge higher mark-ups in a majority of services sectors, suggesting ample scope for pro-competitive gains from trade liberalisation. Barriers to establishment consistently enable incumbent firms shielded from competition to raise their prices, while a lack of regulatory transparency and complex administrative procedures tend to add to all firms’ operating expenses. A “tax equivalent” of trade-restrictive regulations is then inferred from the abnormal price-cost margin of domestic firms in each service sector. These estimates indicate the magnitude of the welfare costs of regulatory trade restrictions across sectors and countries. The sectors with the highest average tax equivalents of STRI indices are broadcasting, construction, storage, and air and maritime transport, while those with the lowest averages are road transport, architecture and cargo-handling. There is however considerable variation between countries in all sectors.
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  • 6
    Language: English
    Pages: 1 Online-Ressource (circa 79 Seiten) , Illustrationen
    Series Statement: OECD trade policy papers no. 210
    Keywords: Dienstleistungshandel ; Wirtschaftsdaten ; Ausländische Tochtergesellschaft ; Regulierung ; Wettbewerb ; Produktivitätsentwicklung ; Handelsliberalisierung ; Belgien ; Finnland ; Deutschland ; Italien ; Japan ; Schweden ; Großbritannien ; USA ; Trade ; Amtsdruckschrift ; Graue Literatur
    Abstract: This report presents evidence on how services trade restrictions influence the decisions and performance of firms engaged in international markets, drawing on micro-data from Belgium, Finland, Germany, Italy, Japan, Sweden, the United Kingdom, and the United States. It first describes the patterns of services exports and affiliate sales at the firm level, uncovering a number of stylised facts about the firms engaged in international trade in services, their choices of modes of supply and the links between services trade and manufacturing activities. The report then relates these outcomes to services trade policy barriers in destination markets as measured by the OECD STRI. It demonstrates that complex and restrictive regulatory environments limit the volume of services that firms are able to trade as well as the number of firms that engage with those markets. Hence services trade restrictions reflect not only ad valorem trade costs, but also fixed and sunk costs. Such barriers do not affect all firms equally. Restrictive services trade regulations disproportionately discourage SMEs. Size, productivity and previous exporting experience appear to be decisive factors in dealing with at-the-border and behind-the-border trade barriers. Finally, the cost of regulatory compliance is lower for foreign-owned firms with headquarters located in the export destination country and for firms that trade bundles of services and manufacturing products, than it is for pure services exporters.
    URL: Volltext  (lizenzpflichtig)
    URL: Volltext  (lizenzpflichtig)
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  • 7
    Language: English
    Pages: Online-Ressource , graph. Darst.
    Series Statement: OECD Economics Department working papers 919
    Keywords: Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: Acrobat Reader.
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  • 8
    Language: French
    Pages: 1 Online-Ressource (31 p.) , 21 x 29.7cm.
    Parallel Title: Parallele Sprachausgabe Looking to 2060: Long-Term Global Growth Prospects: A Going for Growth Report
    Keywords: Economics
    Abstract: Cette étude présente les résultats d’un nouveau modèle de prévision de la croissance économique des pays de l’OCDE et des principaux pays hors OCDE sur un horizon de 50 ans, ainsi que des déséquilibres globaux. Un scénario de référence tablant sur des réformes structurelles progressives et un assainissement budgétaire suffisant pour stabiliser les ratios dette publique/PIB est comparé à d'autres scénarios comprenant des réformes plus profondes des politiques publiques. Une des conclusions principales de cet exercice est que la croissance des pays du G20 non membres de l’OCDE continuera de dépasser celle des pays membres, mais que la différence s’amenuisera au cours des prochaines décennies. Parallèlement, les 50 prochaines années verront des changements majeurs dans la composition de l’économie mondiale. Faute de réforme ambitieuse des politiques publiques, des déséquilibres globaux dangereux pour la croissance apparaîtront. Cependant, un assainissement plus poussé des finances publiques et des réformes structurelles énergiques pourraient à la fois relever les niveaux de vie et réduire les risques de déraillement majeur de la croissance en réduisant les déséquilibres globaux.
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  • 9
    Online Resource
    Online Resource
    Paris : OECD Publishing
    In:  OECD Journal: Economic Studies Vol. 2012, no. 1, p. 103-122 | volume:2012 | year:2012 | number:1 | pages:103-122
    Language: English
    Pages: 1 Online-Ressource (20 p.) , 21 x 28cm.
    Titel der Quelle: OECD Journal: Economic Studies
    Angaben zur Quelle: Vol. 2012, no. 1, p. 103-122
    Angaben zur Quelle: volume:2012
    Angaben zur Quelle: year:2012
    Angaben zur Quelle: number:1
    Angaben zur Quelle: pages:103-122
    Keywords: Economics
    Abstract: The differential between the interest rate paid to service government debt and the growth rate of the economy is a key concept in assessing fiscal sustanability. Among OECD economies,this differential was unusually low for much of the last decade compared with the 1980s and the first half of the 1990s. This article investigates the reasons behind this profile using panel estimation on selected OECD economies as means of providing some guidance as to its future development. The results suggest that the fall is partly explained by lower inflation volatility associated with the adoption of monetary policy regimes credibly argeting low inflation,which might be expected to continue. However,the low differential is also partly explained by factors which are likely to be reversed in the future,including very low policy rates,the “global savings glut” and the effect which the European Monetary Union had in reducing long-term interest differentials in the pre-crisis period. The differential is also likely to rise in the future because the number of countries which have debt-to-GDP ratios above a threshold at which there appears to be an effect on sovereign risk premia has risen sharply. Moreover,debt is projected to increasingly rise above this threshold in most of these countries.
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  • 10
    Language: English
    Pages: 1 Online-Ressource (circa 68 Seiten) , Illustrationen
    Series Statement: OECD trade policy papers no. 243
    Keywords: Employment ; worker and firm-level data ; gender pay gap ; skills ; wages ; trade liberalisation ; Trade ; United Kingdom ; Amtsdruckschrift ; Graue Literatur
    Abstract: Services trade has become increasingly important, yet its impact on employment has been understudied at present. This paper uses fine-grained data on firm- and worker-level information to shed light on the impact of services trade on employment and wages in the United Kingdom. It finds that firms can benefit from services trade, through increased employment, production and productivity. On average, workers’ wages are also positively impacted by increased services trade. The findings suggest that services imports enhance female wages more than those of males, thereby contributing to narrow the gender wage gap. They also suggest that reduction of services trade barriers in foreign markets with which the United Kingdom trades coincides with higher wages for employees of trading firms in the United Kingdom.
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