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  • 1
    Book
    Book
    London [u.a.] : Routledge
    ISBN: 0415184738
    Language: English , German
    Pages: 24 cm
    Series Statement: Routledge critical responses
    DDC: 301
    Keywords: Weber Max ; 1864-1920 ; Sociology ; Economics ; Weber, Max 1864-1920
    Note: Text in English, German, French and Italian
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  • 2
    ISBN: 0415222400 , 0415222419 , 0415222427 , 0415222435 , 0415222443
    Language: English
    Pages: 24 cm
    Keywords: Spieltheorie ; Verhandlungstheorie ; Nash-Gleichgewicht ; Auktionstheorie ; Makroökonomik ; Sozialwissenschaft ; Theorie ; Wiederholte Spiele ; Evolutionäre Spieltheorie ; Social sciences ; Mathematical models ; Economics ; Mathematical models ; Social sciences ; Methodology ; Economics ; Methodology ; Game theory ; Bibliografie
    Note: Includes bibliographical references and index
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  • 3
    Book
    Book
    London [u.a.] : Routledge
    ISBN: 0415435803 , 9780415435802
    Language: English
    Pages: XIV, 194 S. , graph. Darst. , 24 cm
    Series Statement: Routledge frontiers of political economy 116
    Series Statement: Routledge frontiers of political economy
    DDC: 330.01
    RVK:
    Keywords: Wirtschaftswissenschaft ; Soziale Wohlfahrtsfunktion ; Soziale Norm ; Rationalität ; Verhaltensökonomik ; Wirtschaftsphilosophie ; Soziale Werte ; Economics ; Philosophy ; Rational choice theory ; Aufsatzsammlung ; Kollektiventscheidung ; Normativität ; Rational-Choice-Theorie ; Rational choice theory ; Economics ; Philosophy ; Konferenzschrift ; Aufsatzsammlung ; Konferenzschrift ; Aufsatzsammlung ; Rational Choice
    Note: Enth. 10 Beitr
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  • 4
    ISBN: 0415435803 , 9780415435802
    Language: English
    Pages: XIV, 194 S. , graph. Darst.
    Edition: 1. publ.
    Parallel Title: Erscheint auch als
    Parallel Title: Erscheint auch als
    DDC: 330.01
    RVK:
    Keywords: Philosophie ; Wirtschaft ; Economics ; Philosophy ; Rational choice theory ; Kollektiventscheidung ; Normativität ; Rational Choice ; Aufsatzsammlung ; Aufsatzsammlung ; Rational Choice ; Normativität ; Kollektiventscheidung
    Note: Literaturangaben
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  • 5
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2008, no. 4, p. 109-155
    ISSN: 1995-283X
    Language: English
    Pages: 48 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 4, p. 109-155
    Keywords: Economics
    Abstract: This case study analyses the effect of trade and investment liberalisation on Korea’s information and communication technology (ICT) sector and finds that trade and investment have played a crucial role in innovation in this sector. In the initial stages of development, imported capital goods and components, joint ventures, licensing and Original Equipment Manufacturer (OEM) contracts were important sources of technology and exports were key to obtain the necessary economies of scale for innovation. Free trade and investment policies in the 1990s and stronger protection of intellectual property rights have led to an increase in R&D and innovation, which in turn has led to the transformation of Korea into a knowledge-based economy. Keywords: innovation, Korea, information and communication technology, ICT, trade reform, Samsung, production network, intellectual property rights, IPR protection, patents, ITA, Information Technology Agreement
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  • 6
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2008, no. 3, p. 217-305
    ISSN: 1995-283X
    Language: English
    Pages: 90 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 3, p. 217-305
    Keywords: Economics
    Abstract: The growing cost and frequency of natural catastrophes and their implications for economic growth and development have led to a concern over the level of public awareness and education relative to large-scale catastrophes and disaster risk reduction measures. Public awareness and education of disaster risk reduction are, in particular, increasingly acknowledged as important components of effective risk management of natural catastrophes. The financial component of disaster risk management and mitigation strategies, involving risk transfer and compensation strategies, is also recognised as being important for reducing the financial impact of catastrophes on individuals, businesses, and governments, and permitting more rapid economic and social recovery. As such, systematic promotion of public awareness and education of risks and risk reduction measures, including financial loss-sharing and risk transfer tools, is an important aspect of national and international strategies to reduce vulnerability and losses from catastrophic events.
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  • 7
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2008, no. 1, p. 63-95
    ISSN: 1995-2899
    Language: English
    Pages: 33 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 1, p. 63-95
    Keywords: Economics ; Euro Area
    Abstract: This paper uses several recent advances in time-varying spectral methods to analyse the growth cycles of the core of the euro area in terms of frequency content and phasing of cycles. There are two main findings. First that coherence and phasing between the three core members of the euro area (France, Germany and Italy) continue to differ, and that for France they increased in the 1990s but not noticeably since the launch of the euro. Second that similarities vary considerably according to the length of cycle. They are high for low frequencies but lower at traditional business cycle frequencies. Simply looking at business cycles loses much of the detail of the extent of co-movement in different frequency cycles within the euro area.
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  • 8
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2009, no. 2, p. 103-131
    ISSN: 1995-283X
    Language: English
    Pages: 29 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2009, no. 2, p. 103-131
    Keywords: Economics ; Zambia
    Abstract: Zambia has a huge agricultural potential, which is still largely untapped, and could play a key role in growth and poverty eradication. Since the early 2000s, the government has implemented important reforms to promote privatisation and trade reforms, leading to higher investment and a strong growth in export crops such as cotton and horticulture. Despite this success, agricultural productivity, especially for food crops, remains low. The study shows that public resources to the agricultural sector have drastically decreased since the early 1990s, while private sector providers have not stepped in to fill the void left by the government disengagement from input supply and marketing. Despite a strong government commitment to reverse this trend, budget figures show that the share in total allocations dropped again in the 2008 budget. The study also argues that evaluations of past donor interventions in agriculture are not very positive, especially in terms of their sustainability. Projects often paid little attention to local absorptive and implementing capacity, had too narrow a focus on production and food security, and lacked an adequate understanding of the socio-economic conditions and behaviour of the target groups. Lack of co-ordination resulted in duplications and insufficient scale. A new generation of donor projects emerged in the early 2000s, with a strong focus on commercialisation and the development of market linkages, especially via contract farming. These projects have borne good results in terms of production volumes, quality standards and access to international commodity chains, as well as farmers’ income. The key challenge for donors is to scale up these success cases and ensure sustainability. The implementation of the Joint Assistance Strategy for Zambia 2007-2010 is an opportunity to achieve a better division of labour, strengthen synergies on the ground and reduce transaction costs for government. Acknowledgements The Zambia
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  • 9
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2009, no. 2, p. 53-78
    ISSN: 1995-283X
    Language: English
    Pages: 26 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2009, no. 2, p. 53-78
    Keywords: Economics ; Senegal
    Abstract: Senegal is a showcase of donors’ support to horticultural export development in sub-Saharan Africa. The first direct donor support to the Senegalese horticultural value chain dates back to 1998, with the World Bank-funded Agricultural Export Promotion Project (PPEA). Early recognition of the need to tackle the whole agricultural value chain, from inputs to production, processing and marketing, characterises donors’ support to the agricultural sector in Senegal. Facing declining traditional export sectors, groundnuts and fishing, Senegal has been undergoing a difficult transition process from traditional to commercial agriculture over the past decade. The 1994 devaluation of the CFA franc has benefited Senegal’s fruit and vegetables sub-sector, which presents the main hope of diversifying the country’s agricultural export structure. Consequently, the primary sector grew annually at an average 6.2 per cent between 2002 and 2005, which was much higher than real annual GDP growth. The chapter shows that aid to the agricultural sector has been proving positive in supporting the Senegalese government’s new sectoral development principle, the Accelerated Growth Strategy (SCA). Senegal has started to attract foreign investment in the export-oriented horticultural sector. Moreover, small and medium-sized horticultural producers and exporters, better organised and more empowered, have succeeded in increasing production and export volume, while simultaneously satisfying the stringent sanitary and phytosanitary requirements of the OECD markets. Today, Senegal’s agriculture faces challenges of expanding targeted products and markets. Donor assistance to Senegalese agriculture has evolved and donors are now applying a differentiated market approach for multiple private actors to work better with agricultural entrepreneurs. Strengthening Senegal’s agricultural potential and diversifying its agricultural production and export profile both horizontally and vertically are the long-term goals for both donors and the country.
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  • 10
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2008, no. 3, p. 307-345
    ISSN: 1995-283X
    Language: English
    Pages: 40 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 3, p. 307-345
    Keywords: Economics
    Abstract: Financial consumers are facing paradoxical situations. On the one hand, they are overly solicited to use credits on various forms. On the other hand, segments of the population do not have access to credit. In this paper, we examine some emerging issues regarding consumer protection and information in four OECD countries: Australia, Canada, the United Kingdom and the United States. These four countries have much in common but nevertheless develop their own specific experience. By comparing their recent experience we identify some questions of emerging importance.
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  • 11
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2008, no. 4, p. 189-218
    ISSN: 1995-283X
    Language: English
    Pages: 31 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 4, p. 189-218
    Keywords: Economics ; New Zealand
    Abstract: This case study examines the effect of domestic reform including trade on New Zealand’s agriculture sector. Agricultural and trade reform has increased competition and brought substantial changes in innovation in the commercial agriculture sector, such as wine, fruit, livestock and dairy, which in turn has led to important changes in composition and an across the board increase in innovation and productivity. Keywords: innovation, agricultural reform, trade reform, New Zealand, agriculture, agricultural machinery, sheep, dairy, wine, horticulture, foreign investment.
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  • 12
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    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2009, no. 1, p. 1-29
    ISSN: 1995-2856
    Language: English
    Pages: 29 p
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 1-29
    Keywords: Economics
    Abstract: This study focuses on the single most important component of the private return on tertiary education, the gross wage premium. There are at least two additional reasons for paying particular attention to wage premia. First, the wage premium earned by existing graduates is easy to observe, so high-school leavers can be assumed to take it into account when deciding for or against enrolment in tertiary education. Second, to the extent that wages reflect marginal labour productivity, estimates of wage premia are sometimes used to assess the quality of human capital in an economy with a view to correcting simpler measures based on years of schooling or attainment levels.
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  • 13
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2008, no. 3, p. 173-215
    ISSN: 1995-283X
    Language: English
    Pages: 44 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 3, p. 173-215
    Keywords: Economics
    Abstract: Life annuities – financial products that help individuals convert a lump-sum of wealth into a guaranteed life-long income stream – have an important role to play in providing a secure source of retirement income. Because annuities provide valuable insurance against longevity risk, much of the theoretical work in economics suggests that life annuities ought to comprise a large share of the retirement portfolios of most households. Yet around the world, voluntary annuity markets remain small.
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  • 14
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    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2009, no. 1, p. 1-25
    ISSN: 1995-2856
    Language: English
    Pages: 25 p
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 1-25
    Keywords: Economics ; India
    Abstract: This paper assesses the extent to which India's regulatory environment promotes or inhibits competition in markets where technology and market conditions make competition viable. The analysis is based on the OECD’s indicators of Product Market Regulation (PMR) which have been used extensively over the last decade to benchmark regulatory frameworks in OECD countries and have proven useful in encouraging countries to implement structural reforms that enhance economic performance.
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  • 15
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2009, no. 2, p. 9-32
    ISSN: 1995-283X
    Language: English
    Pages: 24 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2009, no. 2, p. 9-32
    Keywords: Economics ; Ghana
    Abstract: Ghana’s agricultural sector has two faces. On the one hand, Ghana continues to face food security problems due to stagnating productivity in the food crop sector and undeveloped internal food markets. On the other hand, horticultural exports have been increasing and recent investments in cocoa and pineapple processing can been seen as signs of an emerging modern agricultural sector. The horticultural sector currently receives a lot of attention from donors and the Ghanaian government. The examination of several large donor projects in this sector reveals that donors are increasingly taking a value chain approach and trying to link smallholder farmers to exporters via outgrower schemes. Donors are also making an effort to connect their projects with other ongoing interventions. However, donor approaches vary according to donor preferences, and multi-donor programmes would probably be a better solution. While the current focus of donors and the Ghanaian government in the horticultural sector is welcome, it bears the risk of leaving the north of Ghana, where food crop production and poverty are concentrated, further behind. Food crops should receive more attention not only to resolve Ghana’s food security problem but also to take advantage of growing demand from Ghana’s middle-income class, which provides the opportunity for developing a local food industry.
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  • 16
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2008, no. 2, p. 161-181
    ISSN: 1995-2899
    Language: English
    Pages: 21 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 2, p. 161-181
    Keywords: Economics
    Abstract: This paper analyses revisions of Swiss current account data, taking into account the actual data revision process and the implied types of revisions. In addition we investigate whether the first release of current account data can be improved upon by the use of survey results as gathered by the KOF Swiss Economic Institute, ETH Zurich. An answer in the affirmative indicates that it is possible to improve first releases and thereby enhance the current assessment of the Swiss economy.
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  • 17
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2008, no. 4, p. 219-255
    ISSN: 1995-283X
    Language: English
    Pages: 38 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 4, p. 219-255
    Keywords: Economics
    Abstract: This case study examines the effect of deregulation and trade reform on South Africa’s agriculture sector, which is highly dualistic consisting of a developed commercial sector and a subsistence farming sector. Deregulation and trade reform has led to substantial changes in innovation in the commercial agriculture sector, such as wine and fruit, leading to a large change in composition while innovation seems to have been more limited in subsistence agriculture, which lacks absorption capacity. Legal uncertainties related to land reform may also be a factor which can negatively affect innovation in the commercial farming sector. Keywords: innovation, deregulation, trade reform, South Africa, agriculture, wine, fruit, field crops, foreign investment, absorption capacity.
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  • 18
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2008, no. 1, p. 97-123
    ISSN: 1995-2899
    Language: English
    Pages: 27 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 1, p. 97-123
    Keywords: Economics
    Abstract: According to the Commission recommendations, ISAE has recently restructured the methodological framework of its survey on firms operating in the Italian construction sector and in retail trade. The innovations specifically regard the sampling design and the weight system for both sectors; this last revision, in particular, allowed the reconstruction of the ISAE historical series. In the light of the changes introduced, first of all the aim of this paper is to analyze the cyclical features and to evaluate the "leading" performances of the new ISAE series with respect to the quantitative ISTAT data. Finally, we are going to build a "leading indicator" for both construction and retail trade in Italy. We first apply the NBER methodology in order to establish the main cyclical features of the series. Then we use cross-correlation analysis to estimate the extent to which the ISAE variables and the ISTAT series are correlated. Later on the Granger causality and out of sample tests were used to evaluate the forecasting performance of the ISAE series. On the basis of the results obtained, we finally build a leading indicator for both sectors, and test its performance comparing the results to those of the confidence index elaborated by ISAE.
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  • 19
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2009, no. 1, p. 43-69
    ISSN: 1995-2899
    Language: English
    Pages: 27 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 43-69
    Keywords: Economics ; Turkey
    Abstract: We pursue a two-fold objective in this paper. First, we try to describe comprehensively the behaviour of sectoral growth cycles in Turkish manufacturing by using several statistical measures and to analyse the co-movement between them via correlation and peak-through analysis. One of the remarkable results of this study is the emergence of the "chemicals" and "paper and paper products"sectors as the leading sectors of total manufacturing. Another important result reveals that export-oriented sectors, which have a high correlation with total manufacturing and with each other, appear as the main drivers of total manufacturing. The second objective of this study is to investigate the response of output in Turkish manufacturing industries to monetary policy shocks within the vector autoregressive framework. The results show that all manufacturing sectors respond to a contractionary monetary policy shock with a reduction in absolute output but that the degree of output reduction is not the same in all sectors. The total manufacturing output declines very quickly after the shock, reaching its minimum value within three quarters.
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  • 20
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2008, no. 1, p. 9-36
    ISSN: 1995-2899
    Language: English
    Pages: 28 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 1, p. 9-36
    Keywords: Economics
    Abstract: Finding a good forecasting model in a data-rich environment is a complex problem which challenges forecasters and statistical methods. In such an environment, automated modelling strategies are necessary for an efficient use of the information in the data. In contrast to frequently applied methods used for large data sets we propose a model selection approach for dynamic single equation regressions that are used to make forecasts. This paper proposes a new approach for quantitative forecasting that is able to deal with both an increasing number of variables that are potentially important for forecasting, as well as an increasing number of observations simultaneously. Another characteristic of the proposed approach is that evaluation of the goodness of forecast models is based on different criteria. As we are interested in finding forecast models with high-quality criteria we define the search for a forecast model as a multi-criteria optimization problem. We define the quality criteria in our goal function by in-sample measures and out-of-sample measures, as well as by a balance between them, and apply a genetic algorithm to solve this complex, global and discrete multi-criteria optimization problem. The efficiency of the approach is illustrated by forecasting German industrial production based on a data set containing key economic indicators and leading indicators. It is shown that, for short forecast horizons, the proposed approach provides forecasts with a high accuracy.
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  • 21
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    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2009, no. 1, p. 1-22
    ISSN: 1995-2856
    Language: English
    Pages: 22 p
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 1-22
    Keywords: Economics ; India
    Abstract: This article examines recent micro-evidence on the productivity of Indian firms, helping to explain why India’s manufacturing sector has not performed as well as many observers expected. A series of structural distortions are documented, all of which may depress the performance of manufacturing, and thus the economy as a whole. These distortions exist at multiple levels, and reflect long-standing problems with the reallocation of labour across sectors, the excessively small scale of firms, low firm turnover, poor product market integration, high industry concentration and persistent state ownership. Combined, these phenomena represent severe restraints on the level and growth of productivity in manufacturing, and suggest that much remains to be done to improve the strength and sustainability of India’s development path.
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  • 22
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    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2009, no. 1, p. 1-30
    ISSN: 1995-2856
    Language: English
    Pages: 30 p
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 1-30
    Keywords: Economics
    Abstract: Influenced by the perceived link between higher levels of educational attainment and growth, the education sector has seen significant reform efforts in recent years in a number of countries. Public spending in this sector has increased on average by one-fifth in real terms over the past decade and growth in terms of spending per student has also been marked in many countries (Figure 1, upper panel); governments in the OECD area now spend on average around 3% of GDP on primary and secondary education. However, a close correspondence between the level of resources and educational outcomes is difficult to demonstrate empirically: cross-sectional evidence reveals only a weak correlation between national spending per student or teaching resources and mean pupil performance in standardised tests (Figure 1, lower panels). Extra resources devoted to education do not automatically lead to commensurate improvements in outcomes.
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  • 23
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2008, no. 2, p. 139-160
    ISSN: 1995-2899
    Language: English
    Pages: 22 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 2, p. 139-160
    Keywords: Economics
    Abstract: Several factor-based models are estimated to investigate the role of country-specific trade and survey data in forecasting euro area manufacturing production. Following Boivin and Ng (2006), the emphasis is put on the choice of the dataset chosen to estimate the factors. Four datasets are built and common factors are estimated separately on each of them following two methodologies, Stock and Watson (2002a, 2002b) and Forni et al. (2005). Then, a rolling out of sample forecast comparison exercise is carried out on nine models to compare the forecast performance of the models and the datasets. Compared to univariate benchmarks, our results are supportive of factor-based models up to two quarters. They show that incorporating survey and external trade information improves the forecast of manufacturing production. They also confirm the findings of Marcellino, Stock and Watson (2003) that, using country information, it is possible to improve forecasts for the euro area. Interestingly, the medium-sized highly opened economies provide valuable information to monitor area wide developments, beyond their weight in the aggregate. Conversely, the large countries do not add much to the monitoring of the aggregate, when considered separately.
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  • 24
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2009, no. 1, p. 37-62
    ISSN: 1995-283X
    Language: English
    Pages: 27 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 37-62
    Keywords: Economics
    Abstract: It is now time to invest in Africa. The prospects are good. Africa is already attracting growing flows of private resources, as a result of its greater political stability and economic reforms. Significant new investors are now engaging in Africa, from within and outside the continent. Development assistance and debt relief alone will not be sufficient to achieve the Millennium Development Goals. Africa now needs more and sustainable investment, both domestic and foreign, in order to accelerate economic growth and progress in poverty reduction, and become better integrated into the global economy. We call for the fulfilment of commitments made at African and G8 Summits and other global fora, including support from development partners to help Africa mobilise more investment, and better focus on mobilisible domestic revenue sources and indigenous resources. Areas such as infrastructure, extractive industry, tourism, agribusiness and ICT are particularly important drivers of development, and require support from development partners.
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  • 25
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2008, no. 3, p. 9-51
    ISSN: 1995-283X
    Language: English
    Pages: 44 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 3, p. 9-51
    Keywords: Economics
    Abstract: Policy makers in many countries are giving more attention to ‘financial literacy’ or ‘financial capability’, and there are many financial education programmes. The need to evaluate the effectiveness of these programmes is likely to increase. But little evaluation is currently taking place, and the evaluations made so far show mixed and inconclusive results. It is not clear whether this is a consequence of poor evaluation methods or poor programme design, or, that financial education works patchily. But it does mean that a positive impact from financial education has not been unambiguously proven; nor has a clear picture emerged of what works best and why. Evaluation of financial education is inherently difficult, and the impact of any one programme can probably never be fully isolated. Nevertheless, this paper suggests that evaluating the effectiveness of financial education can and should be improved. It begins to develop an approach to do so, including a Financial Education Evaluation (FEE) Framework which can be tailored for any programme in any country. This paper also suggests guidelines for governments and other public authorities to lead the way towards better evaluation of the benefits, costs and value for money of financial education.
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  • 26
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2008, no. 2, p. 183-213
    ISSN: 1995-2899
    Language: English
    Pages: 31 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 2, p. 183-213
    Keywords: Economics
    Abstract: This paper focuses on Swiss GDP revisions and the uncertainty they generate from the point of view of monetary policy. After a description of the revisions features, we use GDP vintages to compute real-time output gaps using a production function approach. Then, with a nominal feedback rule, we assess the impact of GDP – and hence output gap – on revisions monetary policy. The main results are threefold. First, Swiss GDP revisions – similarly to those of other small economies – are large, and estimates converge slowly to their final value. Second, GDP mismeasurements clearly exacerbate the difficulty in estimating output gaps. Third, the impact of revisions on monetary policy varies over time. Via its effect on output gaps, ceteris paribus, the inaccuracy of GDP estimates risks introducing a procyclical bias in monetary policy decisions.
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  • 27
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2008, no. 1, p. 37-61
    ISSN: 1995-2899
    Language: English
    Pages: 25 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 1, p. 37-61
    Keywords: Economics ; Switzerland
    Abstract: Macroeconomic data are indispensable for modern governance, yet it is often unclear how reliable these data are. The production process of macroeconomic data inside the statistical offices is often not very transparent for the general public. Bystanders usually have no choice but to take for granted the published data because criteria by which to judge data quality are wanting. Hoping to contribute to a better understanding of the quality of macroeconomic data, this paper proposes several plausibility checks and applies them to recently published Swiss labour productivity growth figures. Although the proposed checks cannot "prove" or "disprove" the official data, they are capable of either strengthening our confidence in the official data or, alternatively, of casting them into doubt. Policy debates drawing on official data will hardly be able to ignore differences in the degree of confidence with which these data are held to be accurate.
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  • 28
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2008, no. 3, p. 53-127
    ISSN: 1995-283X
    Language: English
    Pages: 76 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 3, p. 53-127
    Keywords: Economics
    Abstract: Research in a number of countries has shown that many people lack the ability to manage their money well. At the same time, the consequences, both to individuals and to society at large, of a failure by people to take adequate steps to safeguard their financial future are becoming increasingly serious.
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  • 29
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    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2009, no. 1, p. 1-18
    ISSN: 1995-2856
    Language: English
    Pages: 18 p
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 1-18
    Keywords: Economics
    Abstract: This article uses patent data to assess policy factors (domestic and international) for patenting activity in automotive emission control technologies. Particular attention is paid to the role of different policy types and fuel prices on both post-combustion and integrated abatement technologies. The results confirm that fuel prices have played a role in the development of integrated strategies, while regulatory standards have been more important with respect to post-combustion technologies. In addition, ‘integrated’ abatement strategies are more closely linked to general determinants of innovation than is the case for post-combustion technologies. This has implications for the design of policies which encourage innovations with both private and public benefits.
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  • 30
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2009, no. 2, p. 79-102
    ISSN: 1995-283X
    Language: English
    Pages: 24 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2009, no. 2, p. 79-102
    Keywords: Economics ; Tanzania, United Republic of
    Abstract: Tanzania could be a major food-exporting country but its dependence on rainfall, poor transport and marketing infrastructures, as well as low access to technology, lead to persistent food security problems. The Tanzanian government has decided to focus its Agricultural Sector Development Programme (ASDP) on irrigation. However, even though the importance of irrigation to reduce Tanzania’s dependency on rainfall is undisputed, it would have been better to have a two-fold programme with one part focusing on production-related investments such as irrigation and the other fostering commercial agriculture and the private sector. While donor commitments to agriculture show a mixed trend, Tanzania is one of the few African countries with a basket fund in agriculture. The Tanzanian government aims to establish the ASDP as the sector programme to which all donor interventions should be aligned. First reviews of the ASDP reveal that capacity to implement the programme is lacking at all levels. A lot of capacity building and a change of mindset in Local Government Authorities (LGAs) are needed to make farmer empowerment and private sector involvement a reality. Furthermore, rural and agricultural development efforts should be better co-ordinated as both draw on the same limited capacities at the local level.
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  • 31
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2009, no. 1, p. 63-85
    ISSN: 1995-283X
    Language: English
    Pages: 24 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 63-85
    Keywords: Economics
    Abstract: More action is needed, by both Africa and the wider international community. Building peace and security is essential, both for economic development and for poverty reduction. Leadership is being taken by Africa itself. The number of conflicts has fallen. But even so, one-fifth of the population of Africa still live in conflict zones. More action is needed both to strengthen and support Africa’s own efforts to bring peace to the continent, and to tackle the wider global drivers of conflict, including the illicit trade in small arms and light weapons, and the trade in conflict resources.
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  • 32
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    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2009, no. 1, p. 1-20
    ISSN: 1995-2856
    Language: English
    Pages: 20 p
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 1-20
    Keywords: Economics
    Abstract: Educational outcomes are shaped by a wide range of factors, including innate students’ characteristics, family and school background and other environmental factors. But a key-question for policy-makers is what schools and school policies can do to raise overall student performance. Several studies have indeed shown the positive effect of an increase in cognitive skills and competencies on both social and individual economic welfare. From a macroeconomic viewpoint, international differences in student achievement tests have been shown to increase long-run economic growth. Our analysis focuses on the quality of school systems, i.e. on the association of educational policies with average learning outcomes.
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  • 33
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    In:  OECD journal: general papers Vol. 2008, no. 4, p. 65-107
    ISSN: 1995-283X
    Language: English
    Pages: 44 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 4, p. 65-107
    Keywords: Economics ; Finland
    Abstract: This case study examines how recent trade and investment patterns (including “trade in tasks” resulting from supply chain fragmentation) and Finnish and global policies that promote market openness and free trade have affected the innovation process in the Finnish mobile telecom equipment industry. It illustrates, first, how regulatory, trade and investment policy choices have helped, alongside other key policies, provide the adequate framework conditions for innovation in this country of 5.2 million people. Secondly, it examines how the private sector, and more particularly Nokia, has taken advantage of those conditions to enhance its innovation capacity. This case study does not constitute an in-depth evaluation of the effectiveness of Finnish public policies nor of Nokia’s business strategy, but provides an illustration of how certain public policy choices and business strategies can contribute to a country’s innovation performance. Keywords: Innovation, trade reform, intra-industry trade, foreign direct investment (FDI), deregulation, Finland, Nokia, telecom equipment industry, information and communication technologies (ICT), R&D investments, Information Technology Agreement.
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  • 34
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    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2009, no. 1, p. 1-37
    ISSN: 1995-2856
    Language: English
    Pages: 37 p
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 1-37
    Keywords: Economics
    Abstract: The purpose of this article is to discuss how policies can affect investment in tertiary education in ways that would eliminate some of the perceived shortcomings of existing systems, while preserving or (preferably) enhancing equality of access to higher education. To this end, the analysis focuses on the institutional set-up of tertiary education that provides incentives for supplying quality educational services; the private returns from higher education which act to attract prospective students; and, individual funding mechanisms to help overcome the liquidity constraints that may restrict participation in higher education. These mechanisms should also be designed so as to prevent uncertainty about future incomes from unduly deterring investment in tertiary studies by risk-averse individuals. Joaquim Oliveira Martins, Romina Boarini, Hubert Strauss and Christine de la Maisonneuve
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  • 35
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2009, no. 1, p. 1-12
    ISSN: 1995-2899
    Language: English
    Pages: 12 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 1-12
    Keywords: Economics
    Abstract: The information content of qualitative survey responses are confronted with the corresponding quantitative figures on a firm-by-firm basis. This comparison permits to directly check the information content of the qualitative data. The findings indicate that survey respondents provide correct information, by and large. The results lend support to the Carlson-Parkin method and may pave the way towards improving variance estimates within this method.
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  • 36
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2009, no. 1, p. 19-41
    ISSN: 1995-2899
    Language: English
    Pages: 23 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 19-41
    Keywords: Economics ; Singapore
    Abstract: A dynamic factor model is applied to a large panel dataset of Singapore’s macroeconomic variables and global economic indicators with the initial objective of analysing business cycles in a small open economy. The empirical results suggest that four common factors – which can broadly be interpreted as world, regional, electronics and domestic economic cycles – capture a large proportion of the co-variation in the quarterly time series. The estimated factor model also explains well the observed fluctuations in real economic activity and price inflation, leading us to use it in forecasting Singapore’s business cycles. We find that the forecasts generated by the factors are generally more accurate than the predictions of univariate models and vector autoregressions that employ leading indicators.
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  • 37
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2008, no. 4, p. 157-188
    ISSN: 1995-283X
    Language: English
    Pages: 33 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 4, p. 157-188
    Keywords: Economics ; Sri Lanka
    Abstract: This case study analyses the effect that the end of the Multi-Fibre Agreement (MFA) has had on innovation in the Sri Lankan textile and clothing sector. The ending of the quota system under the MFA led to an increase in the US and EU markets which has motivated a large number of innovations in the Sri Lankan textile and clothing sector. Some large companies have become a total services provider, while others are trying to establish their own brands. Product innovations with foreign partners, process innovations such as introduction of CAD/CAM, and various marketing and organisational innovations have been implemented. Keywords: innovation, textiles and clothing, garment, Sri Lanka, Multi-Fibre Agreement, MFA, competition , CSR, Corporate Social Responsibility, marketing, brands, fair-trade, outsourcing, FDI, joint-ventures
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  • 38
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2009, no. 1, p. 5-35
    ISSN: 1995-283X
    Language: English
    Pages: 32 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 5-35
    Keywords: Economics
    Abstract: Climate change is a major threat to sustainable growth and development in Africa, and the achievement of the Millennium Development Goals. Africa is particularly vulnerable to climate change because of its overdependence on rain-fed agriculture, compounded by factors such as widespread poverty and weak capacity. The main longer-term impacts include: changing rainfall patterns affecting agriculture and reducing food security; worsening water security; decreasing fish resources in large lakes due to rising temperature; shifting vectorborne diseases; rising sea level affecting low-lying coastal areas with large populations; and rising water stress.
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  • 39
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2009, no. 2, p. 33-51
    ISSN: 1995-283X
    Language: English
    Pages: 19 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2009, no. 2, p. 33-51
    Keywords: Economics ; Mali
    Abstract: The Malian economy faces the challenge of reducing its over-dependence on cotton and gold. In order to do so, a search for “green gold” — commercial agriculture beyond cotton — is underway. Mali has started to exploit export market opportunities for horticulture products in Europe as well as in neighbouring countries. Moreover, the country is currently testing the introduction of domestic wheat production for local processing. Although donors are increasingly supporting the development of these new agricultural products, the reform of the cotton sector continues to receive their special attention. Moreover, certain agricultural sub-sectors such as livestock and fishing receive only limited support. The development of a vibrant private sector in agriculture requires further improvements in government policies and donor support, but also more active private sector participation. The government should re-engage in agricultural diversification, and donors should strive to increase the sustainability of their interventions. To this end, greater co-ordination between donors and government is needed in tandem with strengthening the capacity of the local private actors. The study highlights progress towards better donor co-ordination in agriculture and encouraging results, especially with respect to facilitating access to credit for farmers and fostering producers’ organisations. At the same time, it argues that there remains ample room for improvement. Donors tend to crowd in certain segments of the agricultural value chain and to specialise in specific export crops (e.g. the mango sector where 12 donors are currently operating) at the expense of some other important areas, which require additional support (e.g. livestock, transport infrastructure and logistics). A more balanced and coherent approach is warranted.
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  • 40
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2009, no. 1, p. 1-12
    ISSN: 1995-2899
    Language: English
    Pages: 12 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 1-12
    Keywords: Economics ; Korea, Republic of
    Abstract: A business cycle is recognized as a growth cycle in a continuously growing economy such as Korea. This paper suggests reasonable dating rules for the reference date of a business cycle using various measures of a growth cycle. These measures are a cyclical component of the coincident composite index (CI), a coincident cumulative diffusion index, and a historical diffusion index with coincident component indicators. Dating rules include identifying turning points based on these measures of the growth cycle, and various approaches which confirm and review whether these turning points are appropriate for reference dates. And the dating rules are backed up by an administrative process to determine and disseminate these turning points as the reference dates of growth cycles in Korea. The process provides a strategy that gives authority to the released reference dates and minimises errorsin the dating. However, these dating rules have strict procedures to determine the reference date because the measures of a growth cycle are revised annually and their turning points could be affected by their revisions. Usually, a new reference date requires approximately three years before it is released officially. Due to the delayed dating strategy, the present and future business conditions need to be reviewed by detecting and forecasting models of the coming turning points with leading indexes and coincident indexes.
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  • 41
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    In:  OECD journal: economic studies Vol. 2009, no. 1, p. 1-39
    ISSN: 1995-2856
    Language: English
    Pages: 39 p
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 1-39
    Keywords: Economics
    Abstract: This article investigates the policy determinants of hours worked among employed individuals in OECD countries, focussing on the impact of taxation, working-time regulations, and other labour and product market policies. It explores the factors underlying cross-country differences in hours worked — in line with previous aggregate approaches — while at the same time it looks more closely at labour force heterogeneity — in the vein of microeconomic labour supply models. The paper shows that policies and institutions have a different impact on working hours of men and women. Firstly, while high marginal taxes create a disincentive to work longer hours for women, their impact on hours worked by men is almost insignificant. Secondly, working-time regulations have a significant impact on hours worked by men, and this impact differs across education categories. Thirdly, other labour and product market policies, in particular stringent employment protection of workers on regular contracts and competition-restraining product market policies, have a negative impact on hours worked by men, over and beyond their impact on employment levels.
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  • 42
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    Paris : OECD Publishing
    In:  OECD journal: general papers Vol. 2009, no. 1, p. 87-126
    ISSN: 1995-283X
    Language: English
    Pages: 41 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2009, no. 1, p. 87-126
    Keywords: Economics
    Abstract: It is time to deliver for women and girls. Africa’s growth and development agenda can only succeed if the continent is able to draw on all its resources and talents, and if women are able to participate fully in economic, social and political life. This will require intensified efforts to eliminate discrimination and promote equal rights. The strong commitment which has been demonstrated by African governments needs to be complemented by strong support from the wider international community, within the framework of a clear allocation of responsibilities, and the clear mapping out of specific steps and measures.
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  • 43
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    In:  OECD journal: general papers Vol. 2008, no. 3, p. 131-171
    ISSN: 1995-283X
    Language: English
    Pages: 42 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 3, p. 131-171
    Keywords: Economics
    Abstract: The world’s allegedly shortest mail correspondence took place in 1862. The French author Victor Hugo had gone on vacation as his big novel Les miserable was published. But Hugo could not refrain himself from writing to the publisher to ask how it went. The letter read: « ? » and the publishers’ reply « ! ».
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  • 44
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    In:  OECD journal: general papers Vol. 2008, no. 4, p. 7-63
    ISSN: 1995-283X
    Language: English
    Pages: 58 p
    Titel der Quelle: OECD journal: general papers
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2008, no. 4, p. 7-63
    Keywords: Economics
    Abstract: This study examines the role of trade and investment in technology transfer, the effects of competition in trade and investment on innovation, and economies of scale. It also examines global value chains as an organisational innovation in its own right, which is supported by a freer trade and investment environment. Keywords: innovation, multinational enterprises, MNEs, global value chains, technology transfer, competition, scale economies, licensing, intellectual property rights, TRIPs, absorption capacity, Doha Development Agenda.
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  • 45
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    Paris : OECD Publishing
    Language: English
    Pages: 51 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.668
    Keywords: Economics
    Abstract: This overview paper examines the financial crisis in light of past country experience and economic theory and sets out some preliminary policy recommendations. A number of facets of the crisis are detailed, including its origins and spreading factors as well as crisis resolution policies and their associated gross and net fiscal costs. The implications of the crisis on key macro-economic variables are subsequently presented. Finally, policy recommendations for both addressing the economic downturn and enhancing the resilience of the economies over the medium to long-term are discussed.
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  • 46
    Language: English
    Pages: 30 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.663
    Keywords: Economics
    Abstract: This paper develops and applies a simple “conditional growth” framework to make long-term GDP projections for the world economy, taking as a starting point recent empirical evidence about the importance of total factor productivity and human capital in explaining current cross-country disparities in GDP per capita levels. Other distinct features of the projection framework include human capital projections by cohorts and implicit allowance for the impact of ageing and potential labour market and pension reforms on future growth in employment levels. In the baseline projection, world GDP would grow in PPP terms by about 3 ¾ % per year on average over the period 2005-2050. When expressed in constant market exchange rates, taking into account future Balassa-Samuelson effects, this projection falls roughly in the middle of the range of long-run scenarios recently developed in the context of greenhouse gas emission projections. The sensitivity of the projection to total factor productivity and population growth assumptions is significant, however, and compounds with deeper sources of uncertainty such as model and parameter uncertainty.
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  • 47
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    Paris : OECD Publishing
    Language: English
    Pages: 50 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.661
    Keywords: Economics ; Norway
    Abstract: Traditionally, the Norwegian compulsory education system has focused strongly on the linked goals of equal opportunities to learn, comprehensive and inclusive education. While some of these objectives have been met successfully, a number of educational outcomes, notably measures of pupil performance at the end of compulsory schooling, are unsatisfactory. Given the significant resources devoted to education, Norway’s modest performance on certain measures suggests that resources are used inefficiently. There are many possible routes to improve efficiency. This paper focuses on teaching quality, school autonomy, accountability and the level and composition of spending. Consistent policy actions should be taken in these areas, taking into account the multi–level structure of governance of the Norwegian education system.
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  • 48
    ISBN: 9789264044616
    Language: English
    Pages: Online-Ressource (554 p.)
    Parallel Title: Erscheint auch als Productivity measurement and analysis
    Keywords: Produktivität ; Arbeitsproduktivität ; Messung ; Economics ; Aufsatzsammlung ; Konferenzschrift ; Produktivität ; Produktivitätsmessung ; Produktivitätszuwachs
    Abstract: Productivity measurement and analysis are the main topics addressed in this book, which brings together contributions presented and discussed in two international workshops organized by the Statistics Directorate and the Directorate for Science, Technology and Industry (DSTI) of the OECD. The first workshop was organised jointly by the OECD with Fundaccion BBVA and the Instituto Valenciano de Investigaciones Económicas and held in Madrid in October 2005, and the second one was organized jointly by the OECD and the Swiss Federal Statistical Office and the State Secretary for Economic Affairs of Switzerland and held in Bern in October 2006. The two workshops brought together representatives of statistical offices, central banks and other branches of government in OECD countries that are engaged in the analysis and the measurement of productivity developments at aggregate and industry levels.
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  • 49
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    Paris : OECD Publishing
    ISBN: 9789264056886
    Language: English
    Pages: Online-Ressource (323 p.) , ill.
    Parallel Title: Druckausg.
    Parallel Title: Parallelausg. La bioéconomie à l'horizon 2030 ; Quel programme d'action ?
    Parallel Title: Erscheint auch als The bioeconomy to 2030
    RVK:
    Keywords: Biotechnologie ; Gentechnisch erzeugtes Produkt ; Biotechnologie-Industrie ; Politik ; Industriepolitik ; Technologiepolitik ; Science and Technology ; Economics ; Biowissenschaften ; Industriepolitik
    Abstract: The biological sciences are adding value to a host of products and services, producing what some have labelled the “bioeconomy” and offering the potential to make major socio-economic contributions in OECD countries. Using quantitative analyses of data on development pipelines and R&D expenditures from private and public databases, this book estimates biotechnological developments to 2015. Moving to a broader institutional view, it also looks at the roles of R&D funding, human resources, intellectual property, and regulation in the bioeconomy, as well as at possible developments that could influence emerging business models to create scenarios to 2030. These scenarios are included to stimulate reflection on the interplay between policy choices and technological advances in shaping the bioeconomy. Finally, the book explores policy options to support the social, environmental and economic benefits of a bioeconomy.
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  • 50
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    Paris : OECD Publishing
    ISBN: 9789264073975
    Language: English
    Pages: Online-Ressource (266 p.) , ill.
    Parallel Title: Druckausg.
    Parallel Title: Erscheint auch als Innovation and growth
    RVK:
    Keywords: Innovation ; Technischer Fortschritt ; Wirtschaftswachstum ; OECD-Staaten ; BRICS-Staaten ; Forschung ; Entwicklung ; Innovation ; Wirtschaftswachstum ; Nachhaltigkeit ; Science and Technology ; Economics ; Aufsatzsammlung ; OECD ; Entwicklungsländer ; Innovation ; Technischer Fortschritt
    Abstract: Innovation is crucial to long-term economic growth, even more so in the aftermath of the financial and economic crisis. In this volume, the OECD and the World Bank jointly take stock of how globalisation is posing new challenges for innovation and growth in both developed and developing countries, and how countries are coping with them. The authors discuss options for policy initiatives that can foster technological innovation in the pursuit of faster and sustainable growth. The various chapters highlight how the emergence of an integrated global market affects the impact of national innovation policy. What seemed like effective innovation strategies (e.g. policies designed to strengthen the R&D capacity of domestic firms) are no longer sufficient for effective catch-up. The more open and global nature of innovation makes innovation policies more difficult to design and implement at the national scale alone. These challenges are further complicated by new phenomena, such as global value chains and the fragmentation of production, the growing role of global corporations, and the ICT revolution. Where and why a global corporation chooses to anchor its production affects the playing field for OECD and developing economies alike. Selected as a 2009 Notable Document by the American Library Association Government Documents Round Table.
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  • 51
    Online Resource
    Online Resource
    Paris : OECD Publishing
    ISBN: 9789264015364
    Language: English
    Pages: Online-Ressource (144 p.)
    Series Statement: Development Centre Studies
    Parallel Title: Parallelausg. Les origines de la mondialisation financière 1880-1913
    Keywords: Finance and Investment ; Development ; Economics
    Abstract: This study traces the roots of global financial integration in the first “modern” era of globalisation from 1880 to 1913 and can serve as a valuable tool to current-day policy dilemmas by using historical data to see which policies in the past led to enhanced international financing for development. A major conclusion is that the successful management of international financial integration depends primarily on broad institutional and political factors and financial policies, rather than simply opening or closing individual economies to the international winds. "A careful and vigorously argued monograph… an important book that future research in this area will have to take into account." – eh.net book review by Hugh Rockoff of Rutgers University.
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  • 52
    ISBN: 9789264073111
    Language: English
    Pages: Online-Ressource (498 p.)
    Parallel Title: Druckausg.
    Parallel Title: Parallelausg. L'économie politique de la réforme ; Retraites, emplois et déréglementation dans dix pays de l'OCDE
    Parallel Title: Erscheint auch als Tompson, William The political economy of reform
    RVK:
    RVK:
    Keywords: Rentenreform ; Arbeitsmarktpolitik ; Deregulierung ; OECD-Staaten ; Economics ; OECD ; Rentenreform ; Arbeitsmarkt ; Deregulierung
    Abstract: This report examines why some policy reforms get implemented and others languish by examining 20 structural reform efforts in 10 OECD countries over the past two decades. The case studies cover a wide variety of reform attempts in three key areas: pensions, labour- and product-market regulation. Key factors in the political, economic and reform-specific arenas are identified as helping or hindering reform, and these findings are cross-checked using a relatively simple set of Spearman rank correlations. The report’s two-pronged analytical approach – quantitative and qualitative – results in unique insights for policy makers designing, adopting and implementing structural policy reforms.
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  • 53
    Language: English
    Pages: 29 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.675
    Keywords: Economics ; United States
    Abstract: The aim of this paper is to assess the ability of social spending to smooth output shocks and to provide stabilization. The results show that overall social spending is able to smooth about 16 percent of a shock to GDP. Among its subcategories, social spending devoted to Old Age and Unemployment are those that contribute more to provide smoothing. Moreover, the stabilization effects of social spending are significantly larger in those countries where the size of social spending is higher. The empirical results are economically and statistically significant and robust.
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  • 54
    Online Resource
    Online Resource
    Paris : OECD Publishing
    ISBN: 9789264056442
    Language: English
    Pages: Online-Ressource (158 p.) , ill.
    Parallel Title: Parallelausg. Manuel de l'OCDE sur les statistiques des brevets
    Parallel Title: Parallelausg. Manual de estadísticas de patentes de la OCDE
    Parallel Title: Erscheint auch als OECD OECD patent statistics manual
    RVK:
    RVK:
    Keywords: Patent ; Datenerhebung ; OECD-Staaten ; Science and Technology ; Economics ; Anleitung ; Patent ; Statistik
    Abstract: This 2009 edition of the OECD Patent Statistics Manual takes stock of the recent developments in the field. It provides guiding principles for the use of patent data in the context of S&T measurement, and recommendations for the compilation and interpretation of patent indicators in this context. It aims to show what patent statistics can and cannot be used for, and how to count patents in order to maximise information on S&T activities while minimising statistical noise and biases. Finally, it describes how patent data can be used in the analysis of a wide array of topics related to technical change and patenting activity including industry-science linkages, patenting strategies by companies, internationalisation of research, and indicators on the value of patents.
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  • 55
    Language: English
    Pages: 32 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.660
    Parallel Title: Parallelausg. Le secteur financier peut-il rester le principal moteur de la croissance au Luxembourg?
    Keywords: Economics ; Luxembourg
    Abstract: The financial sector has emerged as the main economic engine over the past two decades. The comparative advantages of placing financial activities in Luxembourg have mostly been in terms of an adaptive legislative and regulatory framework and low taxation. As a result, Luxembourg is today one of the main international centres for investment funds. Besides the sector’s direct and indirect employment effects, the most important effect is the large tax revenue generating capacity of the sector, accounting directly for over 20% of aggregate tax revenues. On the other hand, these tax revenues are volatile as the sector is highly sensitive to developments in international financial markets. Indeed, past downturns in international financial markets have tended to lead to a sharp slowdown of growth in the economy as well as in revenues, pointing to potential large risks associated with the current turmoil in international financial markets. Besides these short-term considerations, a lower trend growth rate of the sector is likely over the medium term. The main activities of the sector are in middle and back offices dealing with financial administration which, with new IT technologies, will tend to be increasingly outsourced. At the same time, the sector is having problems in attracting highly specialised talent to enter higher value front office activities. Over the longer term, international competition will continue to exert pressures that may eventually erode Luxembourg’s position. The extent of the decline in the sector’s trend growth depends on the ability to maintain and expand the attractiveness of investing and working in Luxembourg. Achieving this will depend on being able to adjust tax, infrastructure, and housing policies to attract foreign talent while updating and increasing the transparency of financial sector regulation.
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  • 56
    ISBN: 9789264079205
    Language: English
    Pages: Online-Ressource (168 p.)
    Parallel Title: Parallelausg. Handbook on Deriving Capital Measures of Intellectual Property Products; (Korean version)
    Parallel Title: Parallelausg. Handbook on Deriving Capital Measures of Intellectual Property Products: (Korean version)
    Parallel Title: Erscheint auch als Handbook on deriving capital measures of intellectual property products
    RVK:
    Keywords: Immaterialgüterrechte ; Volkswirtschaftliche Gesamtrechnung ; Economics ; Immaterialgut ; Immaterielles Wirtschaftsgut ; Messung ; System of National Accounts ; Kapitalbildung
    Abstract: The latest System of National Accounts (the 2008 SNA) explicitly recognises, for the first time, that expenditures on research and experimental development (R&D) should be recorded as capital formation. This is a natural extension to the 1993 SNA, which recommends recording many acquisitions of software and databases, mineral exploration, and entertainment, artistic and literary originals as capital formation, too. These products have a common characteristic, namely that their value reflects the underlying intellectual property they embody, which is why they are referred to collectively in this publication as intellectual property products (IPPs). But they also share another important characteristic: their measurement is not straightforward, and in the absence of clear guidance it is highly likely that estimates will not be comparable between countries. This Handbook is designed to provide that guidance by considering IPPs collectively, based on their common characteristics, by type, based on any specificities, such as data availability, and by detailed transaction - for example the valuation of IPPs that have been produced for internal use by their developers, the valuation of unsuccessful IPPs, and the production of IPPs produced and made freely available by government.
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  • 57
    ISBN: 9789264056251
    Language: English
    Pages: Online-Ressource (467 p.)
    Edition: Second Edition
    Series Statement: PISA
    Keywords: Education ; Economics
    Abstract: The OECD Programme for International Student Assessment (PISA) surveys collected data on students’ performance in reading, mathematics and science, as well as contextual information on students’ background, home characteristics and school factors which could influence performance. This publication includes detailed information on how to analyse the PISA data, enabling researchers to both reproduce the initial results and to undertake further analyses. In addition to the inclusion of the necessary techniques, the manual also includes a detailed account of the PISA 2006 database. It also includes worked examples providing full syntax in SAS®.
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  • 58
    Book
    Book
    London [u.a.] : Routledge
    ISBN: 041547017X , 9780415470179
    Language: English
    Pages: XII, 168 S.
    Series Statement: Routledge frontiers of political economy 117
    Series Statement: Routledge frontiers of political economy
    DDC: 330
    RVK:
    Keywords: Wirtschaftsethik ; Ethik ; Menschenrechte ; Demokratie ; Wirtschaftswissenschaft ; Economics Moral and ethical aspects ; Economics Sociological aspects ; Human rights ; Economics ; Human rights ; Economics Sociological aspects ; Wirtschaftsethik ; Menschenrecht
    Note: Includes bibliographical references and index
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  • 59
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 45 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.665
    Keywords: Economics ; United States
    Abstract: In spite of improvements, on various measures of health outcomes the United States appears to rank relatively poorly among OECD countries. Health expenditures, in contrast, are significantly higher than in any other OECD country. While there are factors beyond the health-care system itself that contribute to this gap in performance, there is also likely to be scope to improve the health of Americans while reducing, or at least not increasing spending. This paper focuses on two factors that contribute to this discrepancy between health outcomes and health expenditures in the United States: inequitable access to medical services and subsidized private insurance policies; and inefficiencies in public health insurance. It then suggests two sets of reforms likely to improve the US health-care system. The first is a package of reforms to achieve close to universal health insurance coverage. The second set of reforms relates to payment methods and coverage decisions within the Medicare programme to realign incentives and increase the extent of economic evaluation of different medical procedures.
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  • 60
    Language: English
    Pages: 47 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.693
    Keywords: Economics
    Abstract: There are local air pollution benefits from pursuing greenhouse gases emissions mitigation policies, which lower the net costs of emission reductions and thereby may strengthen the incentives to participate in a global climate change mitigation agreement. The main purpose of this paper is to assess the extent to which local air pollution co-benefits can lower the cost of climate change mitigation policies in OECD and non-OECD countries and can offer economic incentives for developing countries to participate in a post- 2012 global agreement. The paper sets out an analytical framework to answer these questions. After a literature review on the estimates of the co-benefits, new estimates, which are obtained within a general equilibrium, dynamic, multi-regional framework, are presented. The main conclusion is that the co-benefits from climate change mitigation in terms of reduced outdoor local air pollution might cover a significant part of the cost of action. Nonetheless, they alone may not provide sufficient participation incentives to large developing countries. This is partly because direct local air pollution control policies appear to be typically cheaper than indirect action via greenhouse gases emissions mitigation.
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  • 61
    Language: English
    Pages: 29 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.692
    Keywords: Economics ; South Africa
    Abstract: This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007. We find strong nonlinear effects of commodity prices, perceived country and emerging market risk premium and changes in the dollar-euro exchange rate on changes in daily returns of the rand-dollar exchange rate. We also identify a one-sided nonlinear mean reversion to the long-term monetary equilibrium. In addition we establish very short-lived effects on the exchange rate of selected macroeconomic surprises and central bank communication aimed at talking up the rand.
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  • 62
    Language: English
    Pages: 36 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.687
    Keywords: Economics
    Abstract: The aim of this paper is to analyze the relation between the volatility of government consumption and country size. Using a sample of 160 countries from 1960 to 2000 the main findings of our empirical analysis suggest that: 1) smaller countries have more volatile non-discretionary and discretionary government consumption, and also a more volatile government size; 2) the relation between government spending volatility and the size of a country is more negative for more volatile economies; 3) the relation between government consumption volatility and country size is more negative for functions of government spending that are characterized by a high level on non-rivality. The results are robust to different time and country samples, different econometric techniques and to several sets of control variables.
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  • 63
    Language: English
    Pages: 39 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.691
    Keywords: Economics
    Abstract: Climate change is expected to have significant implications for the world economy and, more broadly, for many areas of human activity. The purpose of this review is twofold. First, it is to summarise current estimates of the impacts of climate change and to explain how these estimates are built in order to identify the main sources of uncertainty and approximation affecting them. Second, the paper discusses how this uncertainty should influence policymaker?s decisions. A main conclusion of the review is that there are large uncertainties, which are not fully reflected in existing estimates of global impacts of climate change in monetary units. Nonetheless, despite these uncertainties, policy action may be justified, provided that policies are cost-effective, even if the marginal cost of GHG emissions mitigation exceeds the marginal damage of one additional ton of carbon. This is because two features of the impacts of climate change tilt the balance in favour of action: their irreversibility, and the risk that they are extreme.
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  • 64
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 32 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.743
    Parallel Title: Parallelausg. Fédéralisme budgétaire en Belgique : Défis principaux et réformes envisageables
    Keywords: Economics ; Belgium
    Abstract: The paper discusses the current state of fiscal relations across levels of government in Belgium and how it has developed over time. As the current system of fiscal federalism is creating imbalances between the federal and the sub-federal governments (vertical imbalance), and between sub-federal governments (horizontal imbalance) the paper also suggests directions for improvements. Without reform, the vertical imbalance will widen as the fiscal burden from the ageing of the population falls mainly on the federal level. Reform should therefore strengthen the fiscal capacity of the federal government by improving its revenue sources and by shifting some spending obligations to sub-federal governments. The imbalance between regions arises because of the lack of coherence between taxation and spending. Shared revenues from the personal income tax are allocated to the region of residence, while the region of the workplace does not benefit, which particularly affects Brussels’ revenue level. This imbalance could be eliminated by allocating more of the shared personal income tax to the region of the workplace. Furthermore, the system of equalisation grants should be re-designed to provide incentives to the recipient regions to develop their own revenue base. The performance of the fiscal system could further be improved by raising the efficiency of spending in areas of national interest, which have been assigned to sub-federal governments or where there are overlapping responsibilities, such as in employment, R&D, training, education, energy and environmental policies.
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  • 65
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 64 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.714
    Keywords: Economics
    Abstract: Economic growth is the basis of increased prosperity. This makes the attainment of growth a key objective for governments across the world. The rate of growth can be affected by policy choices through the effect that taxation has upon economic decisions and through productive public expenditures. This paper surveys research that has undertaken empirical analysis of aggregate data. The focus of the survey is the identification of the factors that determine the rate of growth.
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  • 66
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 40 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.666
    Keywords: Economics ; Spain
    Abstract: Impressive progress has been made in raising participation in early childhood education as well as tertiary educational attainment over the past 30 years. However, the inflow of poorly educated youth into the labour market is unusually heavy for a high-income country, largely on account of high drop-out rates in lower secondary education which, in turn, reflect one of the highest grade repetition rates in the OECD. The supply of workers with intermediate vocational skills is surprisingly low, despite the high return, in terms of labour market outcomes that these skills offer, even if they have recently deteriorated. There is room to raise learning outcomes up to the end of compulsory school, as measured by the Programme for International Student Assessment (PISA), although, owing to a compressed distribution of such outcomes, the share of poorly performing pupils is not unusually large. While significant reforms have been undertaken to address these problems, more measures are needed to reduce grade repetition and raise education outcomes, by improving accountability of schools and school staff, as well as by raising school autonomy further than has already occurred. Vocational training needs to become more attractive. In tertiary education, few Spanish universities have attained a high level of international standing, and scope remains to improve the contribution tertiary attainment can make to gains in economic welfare, notably by reforming funding arrangements.
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  • 67
    Language: English
    Pages: 24 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.688
    Keywords: Economics
    Abstract: This paper finds that coherent regulatory policies can boost investment in network industries of OECD economies. Rate-of-return regulation is generally thought to result in overinvestment, while incentive regulation is believed to entail underinvestment. Yet, previous empirical work has generally found that the introduction of incentive regulation has not systematically changed investment in network industries. According to the theoretical literature, regulatory uncertainty exposes both types of regimes to the danger of underinvestment. However, regulatory uncertainty is arguably higher under rate-of-return regulation because investment decisions (what can be included in the rate base) are usually evaluated in a discretionary manner, while firms operating under incentive regulation are less affected by this behaviour. In addition, incentive regulation encourages investment in cost-reducing technologies. Using Bayesian model averaging techniques, this paper shows that incentive regulation implemented jointly with an independent sector regulator (indicating lower regulatory uncertainty) has a strong positive impact on investment in network industries. In addition, lower barriers to entry are also found to encourage sectoral investment. These results support the importance of implementing policies in a coherent framework.
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  • 68
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 45 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.698
    Keywords: Economics
    Abstract: This paper formalises the analysis of the employment-productivity trade-off by extending the framework developed by Gordon (1997) to account for labour heterogeneity. The extent of the trade-off is determined by the extent of the adjustment of capital to effective labour and by the changes in aggregate labour quality. The main experiment reported in the paper consists of assessing the labour utilisation and productivity impacts in OECD countries of aligning group-specific employment rates to the US levels. Matching the US employment performance defined in that sense would enable low-employment OECD countries to reduce only half of the aggregate employment-rate gap vis-à-vis the United States, the other half being mechanically due to differences in the population structure by age and educational attainment. In this experiment, a 1% gain in employment is associated with a decrease of 0.24% in labour productivity on average across countries, and of 0.35% in low-employment countries.
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  • 69
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 65 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.727
    Keywords: Economics ; Italy
    Abstract: Compulsory school education in Italy produces poor results in terms of 15-year olds’ performance on PISA tests, compared with other OECD countries, despite a relatively high level of expenditure. While the influence of social background is smaller than in many OECD countries, it is largely transmitted through a kind of self-segregation resulting from family choices among the different types of upper secondary school. Large differences in pupils’ performance between regions cannot be explained by the quantity of resources available; separating the influence of socio-economic conditions from school efficiency is difficult and must be treated carefully in plans for extending fiscal federalism. The Italian government is rightly concerned to get better value for money and this chapter argues that policies to improve the information available to schools and teachers on the results they are achieving, while giving them appropriate incentives, responsibility and power to respond to such information, are necessary accompaniments to expenditure-saving policies. An improved focus on good quality training, both for new recruits and experienced teachers, and recruitment procedures themselves, should also pay dividends on efficiency.
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  • 70
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 30 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.680
    Keywords: Economics ; Slovak Republic
    Abstract: As in other catch-up countries inflation is likely to stay high going forward due to nominal convergence. To better cope with the risk of a too rapid pick up of wages during the convergence process on the one hand and to raise the adjustment potential of the economy to macroeconomic shocks on the other, labour and product market flexibility is essential. Three main areas for improvement are discussed in this chapter. First, wage flexibility should be safeguarded by avoiding significant increases in minimum wages and by abolishing legal extension of collective wage settlements. Second, competition needs to be strengthened, especially in the liberal professions where entry and conduct regulation should be eased. In addition, the points of single contact that already exist for small enterprises should be extended to entrepreneurs of the liberal professions. Third, a wider use of information and communication technology (ICT) could lead to important productivity gains. Removing obstacles to the spread of e-business and a swift implementation of e-government are imperative. This Working Paper relates to the 2009 OECD Economic Survey of the Slovak Republic.
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  • 71
    Language: English
    Pages: 27 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.728
    Keywords: Economics ; Estonia
    Abstract: Estonia gave up the exchange rate and monetary policy tools of macroeconomic management when it introduced its currency board in 1992. While the currency board arrangement served the country well during transition in the 1990s, it offers limited flexibility to implement policies that would ease the EU convergence as well as mitigate the global financial and economic crisis. The ongoing financial crisis has made euro adoption more attractive than ever and put it on the top of the country’s policy agenda. However, shocks affecting Estonia are only weakly synchronized with those of the euro area, and the structure of its economy also notably differs from the euro zone. To benefit fully from joining the EMU, Estonia must strengthen other adjustment mechanisms to shocks, including flexibility of the labour market, further improving its environment to do business and a framework, which allows for anti-cyclical fiscal policies.
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  • 72
    Language: English
    Pages: 31 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.683
    Keywords: Economics
    Abstract: This paper examines the characteristics of downturns and subsequent recoveries following past banking crises in OECD countries as well as evidence of any effects on potential output growth. It is differentiated from previous analyses because it makes use of OECD measures of the output gap and potential output. Downturns following banking crises are found to be more protracted with larger output losses and disproportionate falls in housing and business investment. The recovery is typically more muted with exports providing a disproportionately large positive contribution. Evidence regarding possible effects on potential growth of a banking crisis is mixed. The banking crisis in Japan was followed by a deterioration in potential growth partly due to a worsening in productivity performance which may be related to the protracted nature of the banking problems and the resulting misallocation of capital. Following the Nordic banking crises, which were resolved more quickly, there was no deterioration in productivity performance, although there was a temporary deterioration in potential growth which is mostly explained by an increase in the structural unemployment rate, which in turn may reflect the interaction of an exceptionally severe downturn with structural labour market rigidities.
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  • 73
    Language: English
    Pages: 32 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.738
    Keywords: Economics
    Abstract: The crisis that originated in mid-2007 in the United States and deepened in September 2008 is the largest peace-time disruption of financial markets since the Great Depression. It was triggered by a number of factors, namely the large amount of lending to subprime borrowers, the expansion of securitisation resulting in a disconnect between loan originators and final investors, the questionable assessments of credit rating agencies and the unprecedented resort to off-balance sheet vehicles. These developments took place during a traditional credit boom and reinforced the skyrocketing of asset prices, erosion of lending standards and under-pricing of risk. The crisis had serious repercussions worldwide, particularly in Europe, given the global nature of financial markets. This paper begins by considering why the Japanese banking system was initially relatively resilient to the deterioration in the global financial system, although there were some secondary effects that are discussed in the following section. The third section outlines the emergency response of the Japanese authorities to the financial crisis, including quantitative measures by the central bank and other institutions and regulatory changes by the Financial Services Agency (FSA). At the same time, the authorities have taken steps to improve the regulatory framework. The fourth section goes beyond the crisis to consider policies to boost chronically low profitability in the banking sector. Measures to promote efficiency in the financial sector by upgrading capital markets and improving the range and quality of financial products are discussed in the following section.
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  • 74
    Language: English
    Pages: 40 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.677
    Keywords: Economics ; Euro Area ; Japan ; United Kingdom ; United States
    Abstract: This paper constructs a broad measure of financial conditions for the United States, Japan, the Euro Area and the United Kingdom, by extending monetary condition indices which are traditionally used to gauge the impact of monetary policy on the economy. In addition to changes in the exchange rate and short and long interest rates, the change in credit availability, corporate bond spreads and household wealth are taken into account to gauge the evolution of financial conditions. Since the onset of the financial crisis, financial conditions have tightened by an unprecedented degree in the four countries/regions and this is evaluated to exert a major drag on activity.
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  • 75
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 32 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.697
    Keywords: Economics ; Estonia
    Abstract: In mid-2008, high employment and low unemployment rates characterised the Estonian labour market in comparison with the average of the EU15 countries. While aggregate outcomes improved during 2000-07, large inequalities persisted across regions, ethnic groups, and workers with different skill levels. As Estonia entered recession in 2008, the unemployment rate almost doubled between the 2nd and the 4th quarter, and is expected to rise further in 2009 and 2010. More flexible labour markets will be a key adjustment mechanism during the recession as well as in the medium term if Estonia is to become a knowledge-based economy. Given the currency board arrangement and low synchronisation with the euro area, flexibility is also needed to cushion asymmetric shocks. In December 2008, parliament adopted the new Employment Contract Act, deregulating employment protection while increasing income security of the unemployed. This paper discusses options for removing the remaining barriers that impede worker reallocation across jobs, sectors, and regions into more productive activities.
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  • 76
    Language: English
    Pages: 45 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.670
    Keywords: Economics ; European Union
    Abstract: Financial innovation and integration have spurred financial development and enhanced consumer choice. Financial integration has also been associated with the emergence of large, complex, cross-border financial institutions (LCFIs). This has changed risk profiles and made cross-border contagion more likely. An important challenge for the EU is to manage systemic risks and cross-border contagion to ensure financial stability in an integrated financial market. The financial market turmoil has also highlighted some gaps in the regulatory and supervisory framework. Although the European authorities should be commended for the progress they have made in updating and improving frameworks and responding to the financial turmoil, more can be done. In particular, further steps are needed to remove the mismatch between integrating European financial markets on the one hand, and largely national supervision on the other. Attention should also be given to the question of which measures are adequate to dampen the procyclicality of the financial system. New regulations should not impose unnecessary costs on consumers, businesses and financial institutions, nor create obstacles to further market integration.
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  • 77
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 38 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.741
    Parallel Title: Parallelausg. Comment réformer le système fiscal belge afin de renforcer l'expansion économique
    Keywords: Economics ; Belgium
    Abstract: Individual elements in Belgian tax system affect the growth process through different channels and to a varying degree. Consumption taxes are among the least distortive for growth, and there is considerable scope to increase the reliance on this tax source in Belgium. The Belgian differential taxation of saving vehicles distorts investment decisions, hampering the reallocation of capital towards its most productive use. However, the most distortive Belgian taxes are on labour through their effects on workers’ labour market decisions. Recognising the latter, the authorities have aimed at reducing taxation on labour. However, its level remains internationally high, reflecting numerous exemptions, which reduce tax bases and thus require higher tax rates than otherwise. To promote labour market prospects for individual groups on the labour market, wage subsidies and social security contribution reductions have been used extensively, leading to a complex system, often poorly targeted and at times subject to conflicting objectives. The end result is that the interaction between the personal income tax, the social security contributions, and the generous benefit systems has created a multitude of labour market traps which hold back employment. New tax reforms are constrained by the large and growing fiscal sustainability problem, implying that, unless substantial expenditure cuts are implemented, new tax reforms must be self-financed. This can be achieved by shifting the reliance of the tax system towards the least distortive sources and by broadening tax bases to allow lower tax rates. This Working Paper relates to the 2009 OECD Economic Survey of Belgium (www.oecd.org/eco/surveys/belgium).
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  • 78
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 76 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.715
    Keywords: Economics
    Abstract: Economic growth is the basis of increased prosperity. This makes the attainment of growth a key objective for governments across the world. The rate of growth can be affected by policy choices through the effect that taxation has upon economic decisions and through productive public expenditures. This paper surveys the empirical analysis of disaggregate data on growth. The aim is to identify how economic policy can affect the choices that have been identified as influences upon the rate of growth.
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  • 79
    Language: English
    Pages: 78 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.686
    Keywords: Economics
    Abstract: Investment in network infrastructure – the energy, water, transport and telecommunication networks – which performs a vital role for the functioning of the economy, can contribute to raising growth and social welfare. But more is not always better. While the paper shows that investment in the network industries has had a positive effect over and above the addition to the capital stock, there is evidence that investment in the past has sometimes been misallocated. This paper identifies the policy framework that promotes investment that is conducive to growth and ensures the appropriate use of infrastructure. Central aspects of this framework are identified as a robust decision making process, improving the selection of investment projects, the introduction of competitive pressures through the reduction of barriers to entry and vertical separation when this is appropriate. In addition, efficient investment can be promoted by the combination of regulator independence and the application of incentive regulation.
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  • 80
    Language: English
    Pages: 42 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.672
    Keywords: Economics ; Korea, Republic of
    Abstract: A well-functioning labour market is essential to sustain rapid economic growth in the face of population ageing. Priorities are to reverse the rising share of non-regular workers, which has negative implications for both growth and equity, and encourage greater employment of women and youth, who are under-represented in the labour force. Attracting more women to employment requires increasing the availability of childcare, strengthening maternity leave and creating more family-friendly workplaces. Youth employment rates should be boosted by upgrading tertiary education through stronger competition and closer links to enterprises to reduce mismatches. Educational reform should be extended to elementary and secondary schools to enhance efficiency and decrease the burden of private tutoring. The age of retirement of employees should be raised by eliminating mandatory retirement and phasing out the retirement allowance. Active labour market policies should focus on policies to expand human capital rather than wage subsidies.
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  • 81
    Language: English
    Pages: 29 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.694
    Keywords: Economics ; European Union
    Abstract: High expectations surrounded the two waves of eastward EU enlargement in 2004 and 2007, with the extension of the EU Internal Market being expected to deliver a substantial boost to economic growth in new and old member States alike. Indeed, considerable progress has been made, with existing evidence pointing to increased trade and FDI flows, enhanced east-west migration and a more stable macroeconomic environment. However, completion of the internal market is progressing at an uneven pace, and comparatively less progress can be seen in services industries, which provide over two-thirds of jobs and value added in the economy. Empirical estimates suggest that competition and trade-enhancing reforms in services industries could generate substantial productivity improvements across EU member economies. Over a period of 10 years, the predicted increase in labour productivity resulting from a bold reform package is around 10% for the average EU country, and new member States stand to gain even more. In addition to service-sector reform, priorities towards a more integrated EU internal market should include removing remaining barriers to labour mobility, improving transport infrastructure, mutual recognition of qualifications, and enhanced market integration of network industries. Finally, a more explicit use of benchmarking may help to enhance the momentum of future internal market reforms.
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  • 82
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    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 44 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.678
    Keywords: Economics ; Australia
    Abstract: The Australian education system fares well in international comparison with regards to PISA test scores and the higher education system attracts an increasing number of foreign students. Vocational education and training (VET) is an important part of the post–secondary education system, equipping individuals with the skills to enter or re–enter the labour force and offering a pathway to further education. However, a number of challenges need to be addressed. Reducing complexity and fragmentation and tackling issues of under–supply and under–representation of children from disadvantaged groups in the early childhood education and care system is of major importance, given the beneficial impact of early education on outcomes later in life. A key challenge for the school sector is to reduce the achievement gaps of the lowest performing students, while improving overall literacy and numeracy outcomes. Greater autonomy at the school level and improvements in teaching quality would help in this regard. Enhancing the capacity of the VET system to address skill shortages is another key priority. The low rate of completion of training courses is an additional policy issue facing the sector. Finally, moving towards a less rigid policy framework for higher education would enhance flexibility and diversity, making the system more responsive to labour market needs and globalisation challenges. The promotion of a highquality education system that responds swiftly to changing skill needs is a top priority of the new government. The “Education Revolution”, backed by the Council of Australian Governments (COAG), pursues reforms across all sectors of the education system, an important objective being the closing of the gap for the indigenous population.
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  • 83
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 61 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.724
    Keywords: Economics
    Abstract: In contrast to the once prevailing norm of secrecy and opaqueness, transparency has now become one of the main features characterising the conduct of monetary policy. Detailed analysis of eleven OECD central banks shows that communication practices have converged markedly in the direction of ever greater transparency. Empirical evidence is consistent with the hypothesis that transparency contributes to the successful conduct of monetary policy: higher transparency is a typical element of monetary frameworks that are associated with better anchored inflation expectations and more stable inflation outcomes. Despite this general trend toward increased transparency, however, central banks differ in actual communication practices. There is a particular divergence with respect to transparency in the decision-making process and communication regarding future policy inclination. Although the appropriate degree of transparency in these areas is an unsettled issue, the fact that financial dislocation is impairing conventional monetary transmission makes these two areas critical for policy implementation.
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  • 84
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 40 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.734
    Keywords: Economics ; Slovenia
    Abstract: This paper examines various aspects of fiscal policy in Slovenia, in particular fiscal consolidation, pension reform, efficiency of government spending and the tax system. It finds that Slovenia belongs to the group of new EU member countries, which have given in the past a high priority to fiscal prudence. This both stabilised the economy and paved the way for entry to the EU in 2004 and adoption of the euro in 2007. It also created room to counteract the current weakening of the economy. But fiscal policy has to cope with four main challenges: i) ensuring a return to fiscal consolidation after the current economic downturn; ii) achieving longer-term fiscal sustainability by continuing pension reform; iii) limiting growth of public spending and improving its quality; and iv) making the tax system less distorting for job creation and growth. This Working Paper relates to the 2009 OECD Economic Survey of the Slovenia (www.oecd.org/eco/surveys/slovenia).
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  • 85
    Language: English
    Pages: 74 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.676
    Keywords: Economics
    Abstract: This paper reviews and assesses in terms of availability, reliability and transparency existing policy and outcome indicators that have been found to be linked both directly and indirectly to economic growth and living standards. Indicators aiming at capturing the political and social situation of countries, as well as governance-related issues, are examined (e.g. political system, political stability, corruption, crime and violence). Topics also include product and labour markets, infrastructure, trade, financial indicators and composite indices of reform.
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  • 86
    Language: English
    Pages: 23 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.705
    Keywords: Economics
    Abstract: This pilot study presents indicators that assess sub-central government (SCG) spending power by policy area. Traditional indicators – such as the share of SCG in total government spending – are often misleading as they underestimate the impact of central government regulation on sub-central spending patterns. In order to gauge true spending power, a set of institutional indicators is established, based on a detailed assessment of institutional, regulatory and administrative control central government exerts over various SCG policy areas. Results tend to confirm the limited discretion of SCGs over their own budget. Education in particular – the main SCG budget item in most countries – is strongly shaped by central government regulation. Federal countries tend to grant more spending power to SCGs than unitary countries. With a few amendments, the framework of this study could be applied to all OECD countries, although it is advisable to restrict the analysis to the main sub-central spending areas.
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  • 87
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    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 34 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.731
    Keywords: Economics ; Russian Federation
    Abstract: In the decade following the 1998 financial crisis Russia’s banking system grew much larger and stronger – indeed, growth rates were dangerously high – but even before the onset of the current global crisis it continued to play a limited role in intermediating savings and investment, especially for small and medium-sized enterprises. Moreover, despite important improvements, some weaknesses in prudential supervision remained, and the Russian banking sector continued to have too many very small banks doing little if any banking business. This paper discusses the policy imperatives in the short term, in the face of the ongoing economic crisis, and reforms that could be implemented over the longer term to improve the efficiency and resilience of the financial system and raise Russia’s potential growth rate. While the current crisis is painful for the banking sector as well as the broader economy, it may facilitate a restructuring of the system that will be positive in the long run, as well as new approaches to regulation that will make banking less crisis-prone.
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  • 88
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 35 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.703
    Keywords: Economics ; Brazil
    Abstract: The possibility that a country’s external current account may adjust nonlinearly to shocks is attracting increasing attention in the empirical literature. To shed further light on this issue in the context of emerging-market economies, this paper uses Brazilian data to estimate the determinants of the current account in a smooth-transition vector-autoregressive (ST-VAR) setting. We allow for the transition parameters and the model coefficients to be estimated simultaneously by non-linear constrained maximum likelihood. We find strong evidence of non-linearity in the VAR when (lagged) government consumption and investment are used as the variables governing transition across regimes. The computation of non-linear impulse response functions suggests that the system’s history, as well as the sign and magnitude of shocks, affect the current account’s responses to exogenous changes in income, government consumption and investment. In particular, responses to fiscal shocks depend on whether they are positive or negative and whether they follow periods of fiscal expansions or contractions. Current account responses to a positive fiscal impulse are much stronger when conditioned on periods of fiscal expansion (rising government consumption) than retrenchment. The importance of conditioning history and the magnitude of shocks in the current account’s response to shocks is confirmed by forecast error variance decomposition analysis.
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  • 89
    Language: English
    Pages: 40 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.706
    Keywords: Economics
    Abstract: This paper analyses trends in and driving forces of the revenue composition of sub-central governments (SCG). Between 1995 and 2005 the share of SCG in total government spending increased from 31 to 33%, while the SCG tax share remained stable at around 17%, increasing SCG’s dependence on intergovernmental grants. While equal access to public services is the most common justification for such grants, the grant systems of most countries are much larger than required by equalization. Moreover, rather than smoothing out SCG revenue fluctuations over the cycle, grants often tend to exacerbate them. Finally, there is some evidence that grants reduce SCG tax raising effort, inflate SCG spending and increase SCG deficits and debt. The economic crisis will both sharply reduce SCG’s own tax revenues and – via budget constraints at the central level – increase pressure on the grant system. The crisis could hence help rethink the SCG revenue mix, their tax structure and the size and design of intergovernmental transfers.
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  • 90
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 25 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.667
    Keywords: Economics ; Switzerland
    Abstract: Measures to make the regulation of product markets more conducive to competition play a prominent role in the governments “growth package” of measures to stimulate economic growth which are in the process of being implemented. This paper discusses these measures and suggests further improvements. Notwithstanding significant reforms in recent years, competition law and its enforcement are still weaker than in other OECD countries. Scope for making regulation of product markets more competition-friendly is large in the network industries. While sector-specific regulators have been introduced, their independence needs to be strengthened. The reform of the electricity supply law provides the main building block opening the industry to competition, but vertical separation requirements of the electricity grid from electricity generation and trading activities need to be strengthened. In telecommunications, restrictions in access of competitors to the local loop limit the scope for lowering prices and improving quality of service in broadband connections. Measures still need to be taken to prevent discrimination against market entrants in the railway passenger services market and much scope exists to widen competition in postal services. Progress in lowering the degree of protection in the proposed legislation on agricultural policy 2007-11 is modest. Trade barriers can also be lowered for manufactured goods through the adoption of the Cassis de Dijon principle.
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  • 91
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 59 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.713
    Keywords: Economics
    Abstract: Economic growth is the basis of increased prosperity. This makes the attainment of growth a key objective for governments across the world. The rate of growth can be affected by policy choices through the effect that taxation has upon economic decisions and through productive public expenditures. This paper provides a self-contained introduction to the economic modelling of growth and reviews the theoretical evidence on the extent of the link between taxation and growth.
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  • 92
    Language: English
    Pages: 128 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.701
    Keywords: Economics
    Abstract: This paper examines the cost of a range of national, regional and global mitigation policies and the corresponding incentives for countries to participate in ambitious international mitigation actions. The paper illustrates the scope for available instruments to strengthen these incentives and discusses ways to overcome barriers to the development of an international carbon price, based on the quantitative assessment from two global and sectorially-disaggregated CGE models. Key step towards the emergence of a single international carbon price will most likely involve the phasing out of subsidies of fossil fuel consumption and various forms of linking between regional carbon markets, ranging from direct linking of existing emission trading systems to more indirect forms through the use of sectoral crediting mechanisms. The paper discusses regulatory issues raised by the expansion of emission trading and crediting schemes as well as the complementary contribution of non-market based instruments such as the imposition of technical standards and R&D policies. Finally, the paper emphasises the important role of international transfers, not least to overcome the relatively strong economic incentives in some countries to free ride on other regions mitigation actions. While they can take various explicit or implicit forms, transfers made primarily through market mechanisms, for instance via the allocation of binding emission reduction commitments across countries, would be most cost-effective.
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  • 93
    Language: English
    Pages: 28 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.681
    Keywords: Economics ; Slovak Republic
    Abstract: Euro area entry calls for more fiscal flexibility to absorb cyclical shocks that cannot be dealt with by the common monetary policy. At the same time fiscal consolidation must not be put at risk, especially given rising ageing related costs. The current fiscal framework could be improved by introducing multi-year expenditure ceilings and by removing pro-cyclical elements in fiscal rules. An adjustment account that serves to register breaches of fiscal rules and eliminates them over time could help in coping with projection errors. To ensure long-term sustainability of public finances it is essential not to dilute the substantial improvements in the long-term balance of the definedbenefit pillar associated with past pension reforms. The government should consider making participation in the defined contribution pillar mandatory for new labour market entrants or, at the very least, make it the default option. For current workers the pillars should remain closed. Moreover, further parametric changes such as increasing the retirement age in line with life expectancy gains and reducing unsustainable elements in the pension formula would improve the balance of the defined benefit pillar.
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  • 94
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    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 45 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.662
    Keywords: Economics ; South Africa
    Abstract: Unemployment in South Africa is extremely high and unevenly distributed, being concentrated among young less-skilled blacks. The legacies of apartheid can explain part of the increase in labour supply and inability of the economy to absorb it which produced the extreme levels of unemployment, but more could have been done to unwind those legacies and other policies and institutions have contributed to the dysfunction of the labour market. Notably, improvements in product market regulation to strengthen competition could help expand formal sector employment. Changes in municipal laws and regulations to ease migration and facilitate informal employment are also likely to be particularly important. Improving the implementation of employment protection legislation could also help reduce unemployment. Efforts to tackle crime could help reduce the brain drain and attract skilled immigrants, which would likely boost demand for less-skilled workers via complementarities. Over the longer term, improvements in basic education will be key to reducing the excess supply of less-skilled workers.
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  • 95
    Language: English
    Pages: 43 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.722
    Keywords: Economics ; Greece
    Abstract: Greek health outcomes compare favourably with the OECD average. However, the health care system is seen as not working well by the population. One source of dissatisfaction is the high proportion of private household spending on health, including informal payments, while public health spending relative to GDP is one of the lowest in the OECD. This situation leads to inequities in access to certain medical services. Also, there is a weakening of efficiency of the system, which should be addressed sooner than later in view of a rising demand for medical services, which is going to intensify in the coming decades, and the need to keep government health care spending in check. This calls for reforms in four areas: (i) reviewing the excessively fragmented structure of the health care system and its governance; (ii) enhancing the quality of public primary health care services; (iii) modernising hospital administration; and (iv) further tightening control over pharmaceutical expenditure.
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  • 96
    Online Resource
    Online Resource
    Paris : OECD Publishing
    ISBN: 9789264067974
    Language: English
    Pages: Online-Ressource (281 p.) , ill.
    Keywords: Economics
    Abstract: Fifty years after it was launched, the Marshall Plan remains a major event of post World War II history. But what did it actually do for European reconstruction? To commemorate the opening of its historical archives to the public and their deposit at the European University Institute (EUI), the OECD invited a group of EUI historians to analyse the role played by the Marshall Plan and the Organisation for European Economic Co-operation (OEEC) in the economic recovery of Europe. This book examines the major moments punctuating OEEC history from the original offer of Marshall Aid in 1947 to the decision to create the OECD in 1960. It offers a history of the European economic reconstruction and contributes to discussions on models of co-operation favouring economic development, trade liberalisation and world economic integration.
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  • 97
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 71 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.707
    Keywords: Economics
    Abstract: This paper assesses recent patterns in intergenerational social mobility across OECD countries and examines the role that public policies can play in affecting such mobility. It shows that the relationship between parental or socio-economic background and offspring’s educational and wage outcomes is positive and significant in practically all countries for which evidence is available. Intergenerational social mobility is measured by several different indicators since no single indicator provides a complete picture. However, one pattern that emerges is of a group of countries, e.g. southern European countries and Luxembourg, which appears to rank as relatively immobile on most indicators, while another group, e.g. Nordics, is found to be more mobile. Furthermore, public policies such as education and early childcare play a role in explaining observed differences in intergenerational social mobility across countries. In addition, this study also finds a positive cross-country correlation between intergenerational social mobility and redistributive policies.
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  • 98
    Language: English
    Pages: 34 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.730
    Keywords: Economics
    Abstract: This paper examines the effect of economic crises on structural unemployment using an Autoregressive Distributed Lags model and accounting for the role of institutional settings. Analysing an unbalanced panel of 30 OECD economies from 1970 to 2008, we found that downturns have, on average, a significant positive impact on the level of structural unemployment rate. The maximum impact varies with the severity of the downturn. Institutions (such as Employment Protection Legislation, average replacement ratio and product market regulation) influence both the extent of the initial shock and the adjustment pattern in the aftermath of a downturn.
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  • 99
    Language: English
    Pages: 30 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.737
    Keywords: Economics ; Erdölpreis ; Geschichte 2009
    Abstract: Crude oil prices have trended up since the end of the 1990s, peaking at a historic high in mid-2008 that was followed by a steep price correction with a subsequent rebound. This paper considers major forces behind the evolution of the oil price, using a simple model of supply and demand elasticities as a benchmark, highlights implications for inflation and economic activity and draws some conclusions for macroeconomic policy. The analysis suggests that the run-up in crude oil prices since 2003 was due to both vigorous oil demand growth by emerging markets and, from the middle of the decade onward, a weaker than expected oil supply response to rising prices. Prices are unlikely to fall back to levels seen in the first years of the decade either over the short or medium term.
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  • 100
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 48 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.725
    Keywords: Economics ; Iceland
    Abstract: The global financial and economic crisis has struck Iceland with extreme force. Iceland’s three main banks, accounting for almost all of the banking system, failed in October 2008. They were unable to resist the deterioration in global financial markets following the failure of Lehman Brothers. The banks had pursued risky expansion strategies – notably borrowing in foreign capital markets to finance the aggressive international expansion of Icelandic investment companies – that made them vulnerable to the deterioration in global financial markets. They had also grown to be too big for the government to rescue. When access to foreign capital eventually closed, the banks failed. Non-financial firms and households were also vulnerable to the deterioration in global financial conditions, having taken on a lot of debt in recent years based on inflated collateral values. In some cases, the debt was foreign-currency denominated, without matching foreign-currency assets or revenues. In the wake of the banking crisis, the government obtained an IMF Stand-By Arrangement to provide favourable access to foreign capital markets and creditability for the recovery programme. Even so, the recession is likely to be deeper in Iceland than in most other OECD countries owing to the seriousness of the banking crisis and the weakness of private sector balance sheets. Reforms are needed to strengthen prudential regulation and supervision. This Working Paper relates to the 2009 Economic Survey of Iceland.
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