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  • English  (280)
  • 2000-2004  (280)
  • Paris : OECD Publishing  (280)
  • Economics  (280)
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  • 1
    Language: English
    Pages: 64 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.383
    Parallel Title: Parallelausg. Concurrence sur les marchés de produits et performance économique en Suisse
    Keywords: Economics ; Switzerland
    Abstract: The strength of product market competition plays an important role in ensuring dynamic economic growth. This paper examines product market competition and its link with economic performance in Switzerland whose growth has been weaker than in most OECD countries since 1980. It shows that substantial progress in reforming product markets can be made in many areas, which would contribute to reduce the excessive price differential vis-à-vis other countries and stimulate growth. These reforms should focus on the legal framework of competition, the network industries, the health sector, the revision of the Domestic Market Act, agriculture, the restriction on parallel imports and, more generally, the opening up of services to foreign competition ...
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  • 2
    Language: English
    Pages: 92 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.371
    Keywords: Economics
    Abstract: In the face of the substantial ageing of population expected to occur in OECD countries over coming decades, policies that boost labour-force participation attract considerable interest. There remain large cross-country divergences in participation rates that are largely accounted for by differences in participation of specific groups, in particular prime-age women, older workers and also youth. This suggests that policies targeting these groups could have important effects. The aim of this paper is to examine whether the potential impact of several policy reforms is able to attenuate or to offset the adverse trend in aggregate participation rates that would otherwise occur because of ageing population. It uses a simple dynamic modelling framework that generates longer-term projections of participation rates and labour supplies in OECD countries and alternative scenarios of policy reforms. The main outcome of this analysis is that the combined effect of possible reforms targeting ...
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  • 3
    ISBN: 9789264100282
    Language: English
    Pages: Online-Ressource (224 p.) , ill.
    Series Statement: Knowledge management
    Parallel Title: Parallelausg. Mesurer la gestion des connaissances dans le secteur commercial; premiers résultats
    Parallel Title: Parallelausg. Mesurer la gestion des connaissances dans le secteur commercial: premiers résultats
    Keywords: Education ; Science and Technology ; Economics
    Abstract: Knowledge management involves any activity related to the capture, use and sharing of knowledge by an organisation. Evidence shows that these practices are being used more and more frequently and that their impact on innovation and other aspects of corporate performance is far from negligible. Today, there is a recognition of the need to understand and to measure the activity of knowledge management so that organisations can be more efficient and governments can develop policies to promote these benefits. This book offers a synthetic view of the results of the first systematic international survey on knowledge management carried out by national statistical offices in Canada, Denmark, France and Germany.
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  • 4
    ISBN: 9789264020207
    Language: English
    Pages: Online-Ressource (100 p.) , ill.
    Parallel Title: Parallelausg. Catastrophes de grande ampleur ; les leçons du passé
    Parallel Title: Parallelausg. Catastrophes de grande ampleur : les leçons du passé
    Keywords: Finance and Investment ; Governance ; Economics
    Abstract: The September 11th terrorist attacks, the Chernobyl nuclear accident, Hurricane Andrew and the Kobe earthquake are all recent examples of large-scale disasters that have taken a massive toll in human lives, wealth and property. They have disrupted vital systems such as transport and energy supplies and spilled over into neighbouring as well as distant regions. They have also generated widespread anxiety, and in some cases created deep-seated public mistrust of governments' ability to protect their citizens. This book is based on a report prepared between May and July 2003 by a multi-disciplinary team of experts from inside and outside of the OECD. It examines the economic and social impacts of past large-scale disasters, and draws a number of key lessons for the future. Its focus is on better prevention of disasters, and on restoring trust and securing recovery in their aftermath.
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  • 5
    Language: English
    Pages: 52 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.412
    Keywords: Economics
    Abstract: This paper analyses the factors influencing the price of oil and its likely evolution over the next quarter century. It begins by investigating the fundamental forces shaping long-term oil price developments, highlighting the importance of growth-led demand for oil, particularly that emanating from fast-growing, energy-intensive developing countries, and the implications of increasingly geographically concentrated oil reserves. The paper presents oil price projections to 2030 and examines the sensitivity of the projections to the assumptions about growth and non-OPEC supply. While certain combinations of factors could lead to a significantly higher oil price, the projections also suggest that the optimal strategy of resource-rich oil producers would be to prevent it rising too far. The paper then documents short-term influences on the oil price, which peaked at $50 a barrel in 2004, and notes that they have probably led to a significant departure from the long-run equilibrium price ...
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  • 6
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 21 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.400
    Keywords: Economics ; European Union
    Abstract: After the launch of the single currency the euro exchange rate fell and interest rates had converged towards the (low) German level. These shocks have worked out differently for the small and large countries. Housing markets have acted as an important vehicle of transmission of these shocks onto economic activity and inflation. Simulations with a stylised econometric model for the euro area economy, making a distinction between the small and large countries in terms of the estimated parameters, illustrate this mechanism ...
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  • 7
    Language: English
    Pages: 71 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.393
    Keywords: Economics
    Abstract: This paper provides estimates of the implicit fiscal assets as well as of the evolution over time of fiscal costs and revenues related to tax-favoured retirement saving regimes in 17 OECD countries, taking into account current and future contributions, asset accumulation and withdrawals, all of which will be strongly influenced by future demographic developments. The main results show that in the case where tax incentives are assumed to lead essentially to saving diversion rather than creation, the net budgetary cost of tax-favoured schemes would remain large, despite the sharp rise in revenues collected from withdrawals as population ages. The paper shows that this cost would significantly be reduced if tax-favoured schemes succeed in promoting additional private savings. It then explores a number of policy options to maximize the amount of additional saving ...
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  • 8
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 37 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.384
    Keywords: Economics ; Slovak Republic
    Abstract: Over the past decade, public expenditure in Slovakia was characterised by substantial social transfers and high public sector wage expenses. This paper analyses the main features of Slovakia’s public expenditure system, reviews expenditure trends, and discusses recent reform initiatives. The latter have concerned the introduction of medium-term budget projections, the switch towards performance-based budgeting, the limitation of extra-budgetary funds, the devolution of spending power to sub-central administrative units, changes to the public employment regime, and reforms of the social security system. These initiatives are critically assessed and a number of recommendations concerning implementation and further reform steps are developed ...
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  • 9
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 38 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.402
    Keywords: Economics ; Russian Federation
    Abstract: The gas industry is perhaps Russia’s least reformed major sector. Prices are regulated, exports are monopolised and the domestic market is dominated by a state-controlled, vertically integrated monopolist, OAO Gazprom. Gazprom combines commercial and regulatory functions, and maintains tight control over the sector’s infrastructure and over information flows within it. The sector as it is currently constituted is highly unlikely to be able to sustain sufficient output growth to satisfy both rising export commitments and domestic demand. There is significant potential for accelerating the growth of non-Gazprom production and making gas supply in Russia more competitive, but this will require fundamental reform. The proposals for reform advanced in the paper address two sets of issues. First, there is an urgent need to increase transparency in the sector and transfer many of the regulatory functions now performed by Gazprom to state bodies. Secondly, there is a longer-term need for a ...
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  • 10
    Language: English
    Pages: 33 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.396
    Keywords: Economics
    Abstract: This paper analyses the impact of exchange rate regimes on real exchange rates, as defined by the relative price of nontradables to tradables in Argentina, Brazil, Chile (ABC) and Mexico from 1990 to 2002. The real exchange rate is determined in the long-run by the Balassa-Samuelson effect, but in the medium run also by government expenditure and terms of trade. Another determinant is fixed exchange rate regimes, which force exporters to adjust their local price of tradables. Moreover, fixed regimes attract portfolio inflows that increase demand and prices for nontradables. The econometric results of the paper confirm the impact of exchange rate regimes on relative prices in all countries except Chile, which maintained exchange rate flexibly and adopted capital controls ...
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  • 11
    ISBN: 9789264020139
    Language: English
    Pages: Online-Ressource (428 p.)
    Keywords: Environment ; Social Issues/Migration/Health ; Economics
    Abstract: The papers in this conference proceedings address the various conceptual, measurement and statistical policy issues that arise when applying accounting frameworks to the concept of sustainable development.
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  • 12
    Online Resource
    Online Resource
    Paris : OECD Publishing
    ISBN: 9789264107748
    Language: English
    Pages: Online-Ressource (158 p.) , ill.
    Parallel Title: Parallelausg. L'économie de la sécurité
    Keywords: Science and Technology ; Economics
    Abstract: With the market for security goods and services having expanded rapidly since 9/11, this study examines the potential costs of major disruptions, the trade-offs between tighter security and economic efficiency, and the implications of tighter security for privacy and other democratic liberties.
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  • 13
    Language: English
    Pages: 41 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.395
    Keywords: Economics
    Abstract: The paper set out four types of market structure clusters (based on an OECD benchmark) to assess different entry barriers, both endogenous and policy-induced that may affect the ability of enterprises in emerging countries to penetrate international markets. This framework is then applied to analyse the trade specialisation of Argentina, Brazil and Chile (ABC) compared to that of three OECD countries, Ireland, Korea and Mexico ...
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  • 14
    Language: English
    Pages: 51 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.398
    Keywords: Economics ; United States
    Abstract: Regulatory reform efforts in a broad range of industries have resulted in increased importance of competitive forces as a means to allocate resources and improve economic efficiency. A number of indicators suggest that such forces have been stronger in the United States than in most other OECD countries for some time. This has contributed to sizeable productivity gains and good economic performance over the past decade or so. Nonetheless, despite the generally pro-competitive thrust of policies, a number of challenges remain. Although there are few sectors of the economy from which competition policy and law are completely excluded, given the high risk of sanctions and damages for violation, many anomalous exemptions and special regimes have found their way into US legislation. Contrary to other OECD countries, government related firms are exempted from competition enforcement. Intellectual property rights create special challenges for competition policy and some problems have followed their strengthening over the past two decades, such as the soaring cost of patent litigation. The generally favourable experience with deregulation created pressures for liberalisation in network industries, where the United States has rather been a laggard, at least in the electricity sector. Reforms in the 1990s have entailed some positive results but also some setbacks, reflecting both the difficulties in ensuring competition in such industries and policy mistakes.
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  • 15
    Language: English
    Pages: 45 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.399
    Keywords: Economics ; Korea, Republic of
    Abstract: Maintaining rapid economic growth depends increasingly on productivity gains, particularly in the service sector. Competition has an important role to play in achieving such gains. However, Korea’s development strategy has tended to weaken competition and has left a legacy of government intervention. Strengthening competition requires upgrading competition policy, increasing openness to international trade and foreign direct investment and improving the regulatory framework in network industries. In particular, the power of the Korea Fair Trade Commission should be expanded, while raising the level of sanctions and scaling back special treatment for certain sectors. Barriers to imports remain above the OECD average, particularly in agriculture, while the stock of inward direct investment is among the lowest in the OECD area. Restructuring plans in the network industries, notably electricity and gas, have lagged behind schedule. Price distortions and the absence of independent ...
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  • 16
    Language: English
    Pages: 30 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.390
    Keywords: Economics ; United States
    Abstract: In this paper the OECD’s interlink model is used to explore several possible channels through which a narrowing of the US current account deficit could occur. The shocks considered include dollar depreciation, fiscal consolidation, and an improvement in the non-price competitiveness of US producers. A key conclusion is that shocks would have to be very large in order to materially reduce the US external deficit. In part, this is because second-round effects, including domestic policy responses, tend to offset the shocks’ initial impact. In addition, it is clear that each of the channels for narrowing the deficit involves risks to growth in the rest of the world, particularly in Japan where the authorities have limited room to use monetary or fiscal policy to offset any contractionary pressures. The exchange rate simulations highlight the fact that more exchange rate flexibility in Asia would spread the burden of adjustment more evenly across US trading partners. Attention is also ...
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  • 17
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 50 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.404
    Keywords: Economics ; Russian Federation
    Abstract: This paper provides an in depth analysis of Russia’s recent growth, with a view to understanding the prospects for its continuation. It examines in detail the main drivers of growth, as well as the main developments and policies that have been underlying it. A key finding is that the role of the oil sector, and particularly privately owned oil companies, has been vastly more important in driving economic growth since 2001 than most analyses have recognised. The oil sector’s contribution to growth has hitherto been severely underestimated as official data do not account for transfer pricing and thus fail to reflect fully the importance of the hydrocarbon sector in the Russian economy. The paper further argues that prudent postcrisis fiscal policy, by balancing the federal budget over the oil-price cycle, has also been essential for creating a macroeconomic environment conducive to strong growth. Looking forward, it is argued that - given its economic structure - Russia is bound to ...
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  • 18
    Language: English
    Pages: 35 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.403
    Keywords: Economics ; Russian Federation
    Abstract: Russia in 2003 embarked on the restructuring of its electricity sector. The reform is intended to introduce competition into electricity production and supply, leaving dispatch, transmission and distribution as regulated natural monopolies with non-discriminatory third-party access to the networks. The ultimate aim of the reform is to create conditions that will encourage both investment in new capacity and greater efficiency of both production and consumption. The overall approach embodied in the reform is promising. However, there remains a serious risk that its aims could be subverted by special-interest lobbying during the lengthy implementation phase. If the reform is to succeed, the marketised segments of the sector must be characterised by real competition based on economically meaningful prices. There are two dangers here. The first is that private-sector interests will secure strategic holdings that allow them to exercise market power or even local monopoly power. The ...
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  • 19
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 23 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.385
    Keywords: Economics
    Abstract: This paper assesses the extent to which the fall in risk premia of a number of financial assets, which occurred throughout 2003, was due to improvements in factors specific to individual markets at that time or to general economic fundamentals coupled with OECD-wide abundant liquidity. Regarding the latter two factors, principal component analysis was used here to identify a common trend in risk premia in equity, corporate bond and emerging markets since early 1998. The analysis finds that both economic fundamentals and liquidity have played a statistically significant role in driving the common factor. It also finds that liquidity (measured as the GDP weighted average of M3 of the three major economies less its trend) performs better than similarly weighted short-term interest rates. By spring 2004, the common factor in different risk premia had fallen below what could be explained by economic fundamentals and liquidity ...
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  • 20
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 47 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.410
    Keywords: Economics ; Russian Federation
    Abstract: This paper examines the state of the Russian banking sector in 2004 and assesses the most important reform initiatives of the last two years, including deposit insurance legislation, a major reform of the framework for prudential supervision, steps to increase transparency in the sector, and measures to facilitate the development of specific banking activities. The overall conclusion that emerges from this analysis is that the Russian authorities’ approach to banking reform is to be commended. The design of the reform strategy reflects an awareness of the need for a ‘good fit’ between its major elements, and the main lines of the reform address some of the principal problems of the sector. The major lacuna in the Russian bank reform strategy concerns the future of state-owned banks. Despite a long-standing official commitment to reducing the role of the state – and of the Bank of Russia in particular – in the ownership of credit institutions, there is still a need for a much more ...
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  • 21
    Language: English
    Pages: 39 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.397
    Keywords: Economics
    Abstract: This paper examines the extent to which fiscal policy actions may be offset by simultaneous, anticipatory changes in private saving, as well as the determinants of that offset. The conditions under which private agents will engage in forward-looking consumption-smoothing behaviour are quite strict and unlikely to hold fully in practice. However, based on a sample of at most 21 OECD countries spanning the period 1970-2002, there is strong evidence of partial, yet substantial, offsetting movements in aggregate private and public saving. The overall offset is estimated at between about one-third and one-half, depending on model specification, and applies both to public consumption and revenue shifts. This is consistent with a marked degree of anticipatory private sector behaviour, insofar as the ex ante saving “leakage” embedded in the pure Keynesian or IS/LM type models would be expected to be smaller and apply only to revenues and transfers. Wealth effects, as in the case of rising equity and housing prices, are found to have an important complementary impact on saving, usually in reinforcing the direct saving offset. Initial conditions, as reflected in debt/GDP ratios are also found to influence the size of the offset.
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  • 22
    Online Resource
    Online Resource
    Paris : OECD Publishing
    ISBN: 9789264026780
    Language: English
    Pages: Online-Ressource (304 p)
    Parallel Title: Druckausg. The economic impact of ICT
    DDC: 658.4038
    RVK:
    RVK:
    Keywords: Informationstechnik ; Wirtschaftswachstum ; Produktivität ; OECD-Staaten ; Science and Technology ; Economics ; Informationstechnik ; Unternehmen ; Produktivität ; Wirtschaftswachstum ; Messung ; OECD ; Informationstechnik ; Unternehmen ; Produktivität ; Wirtschaftswachstum ; Messung
    Abstract: Information and communications technology (ICT) has become a key driver of economic growth over the past decade. The rapid diffusion of the Internet, of mobile telephony and of broadband networks all demonstrate how pervasive this technology has become. But how precisely does ICT affect economic growth and the efficiency of firms? And how well can these effects be measured? This report provides an overview of the economic impact of ICT on economic performance, and the ways through which it can be measured. Using available OECD data, the first part of the book examines the available measures of ICT diffusion, the role and impact of ICT investment and the role of ICT-using and ICT-producing sectors in overall economic performance. The second part of the book offers nine studies for OECD countries, based on detailed firm-level data and prepared by researchers and statisticians from a wide range of OECD countries. These studies use a variety of methods and provide detailed insights on the effects of ICT in individual countries.
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  • 23
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 51 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.387
    Keywords: Economics ; Japan
    Abstract: Empirical work shows that competition is important for promoting economic growth. However, in Japan the promotion of competition has long been compromised by ministerial guidance and exemptions from the competition law. Thus, the level and growth of productivity have been low in many domestically oriented sectors and consumer welfare has suffered under high prices and the slow introduction of new goods and services. This misallocation of resources contributes to explaining why the Japanese economy had difficulty in coming out of the quasi-stagnation of the past decade. Recognising that gains from more pro-competition policies are substantial, the Japanese government has now made the promotion of competitive markets a cornerstone of its economic policy. Reforms to promote product market competition in Japan should inter alia focus on strengthening the legal framework by increasing fines to a deterrent level and introducing cartel destabilising measures, such as a leniency ...
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  • 24
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 39 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.407
    Keywords: Economics ; Germany ; Deutschland ; Innovationsfähigkeit
    Abstract: Key indicators show Germany belonging to the countries in the OECD with strong innovation activity even though some weakening in Germany’s position relative to other OECD countries has occurred recently. While the redirection of resources towards unification-related spending as well as low economic growth have contributed to this development, more fundamental structural issues have also played a role. Germany has benefited less than other high-performing countries from the surge in new technologies, such as ICT and biotechnology, as innovation activities continue to focus on sectors, such as machinery and automobiles, in which Germany has a long record of strong export performance. Some features of the regulation of capital, product and labour markets are hampering the supply of risk capital, the creation of new firms and the reallocation of labour. In addition, firms are finding it increasingly difficult to recruit highly qualified labour. Measures to improve the framework ...
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  • 25
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 43 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.389
    Keywords: Economics ; Norway
    Abstract: Norwegian growth has been strong over the past decade. This development has been supported by the off-shore sector, but depleting oil reserves implies that growth will have to rely increasingly on the mainland economy. Empirical work shows that competition is important for promoting economic growth. Recognising the benefits of competition, the government wants to introduce regulatory reforms to stimulate economic growth. However, the promotion of competition has often conflicted with other policy objectives, such as maintaining a regionally dispersed population and a high degree of public ownership. This has lead to weak competition in a number of sectors, resulting in high prices, weak innovative activity and inefficient resource allocation. Reforms to promote product market competition in Norway should therefore inter alia focus on separating the public sector’s roles and functions as owner and regulator. This requires an increase in the independence of sector ...
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  • 26
    Language: English
    Pages: 108 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.406
    Keywords: Economics
    Abstract: This paper provides, for all OECD countries, an estimate of the net tax cost per currency unit of contribution to a tax-favoured retirement savings plan, using a present-value methodology. The latter takes into account the future flows of revenues foregone on accrued income and of revenues collected on benefit withdrawals corresponding to a unit contribution made in a given year. The net tax cost is first calculated for nine (five-year) age groups, which have different relative income levels and investment time horizons, and is then averaged across age groups. In order to take into consideration the relevant country-specific features of savings taxation, the paper also provides an overview of the tax treatment of private pension arrangements and alternative savings vehicles. The results indicate that the size of tax subsidy varies significantly across countries, ranging from nearly 40 cents per unit of contribution (Czech Republic) to around zero (Mexico, New Zealand). Over half of ...
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  • 27
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 44 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.409
    Parallel Title: Parallelausg. La gestion des dépenses publiques en France
    Keywords: Economics ; France
    Abstract: Since the early 1990s, when France's general government deficit reached a disturbing 6 per cent of GDP, the country's public finances have progressed substantially, even though significantly further improvement is required. This paper examines the tools available to policy-makers to meet this challenge. The clearest message is that, given the relatively small size of the State Budget in total spending, the challenge cannot be met by the State sector alone. Social security, as the principal source of spending pressure, must play a role, but so too must sub-national government -- especially if current plans to transfer additional responsibilities to the local level go through. If policy-makers are to succeed in directing public expenditure so as to create this room, they will have to clarify governance structures so that those who administer programmes face appropriate incentives to control costs and maximise programme efficiency ...
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  • 28
    Language: English
    Pages: 29 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.408
    Keywords: Economics ; Russian Federation
    Abstract: This article investigates issues related to industrial restructuring in Russia. Based on extensive sectoral data it examines, more particularly, levels and changes in labour productivity, unit labour costs and revealed comparative advantages for a large number of Russian industrial sectors. The main findings are the following. First, impressive increases in labour productivity have been achieved since 1997, especially during the post-crisis period. Secondly, this has been true for all major sectors, with the exception of those which are still predominantly state controlled or which suffer from strong state interference. Thirdly, there have been significant relative adjustments within the industrial sector, as labour productivity increased more in less productive sectors. Since the crisis, relative unit labour costs have also adjusted considerably, as less competitive sectors experienced relatively slower wage growth and larger labour force reductions. Fourthly, international ...
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  • 29
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 54 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.378
    Keywords: Economics
    Abstract: The strength of product market competition plays an important role in economic growth as it affects economic efficiency and the allocation of resources, and can also lead to improved labour market performance. This paper examines product market competition and economic performance in the European Union. The Community’s competition rules, which apply whenever anti-competitive practices have an implication for cross-border trade, are enforced primarily by the Commission’s Directorate General for Competition, and complement national competition legislation. Reforms have been adopted recently to sharpen the toolkit and to increase the role of national authorities in the enforcement process. However, the toolkit could still be made more effective. Competition policy is complemented by, and partly overlapping with, the regulation of newly liberalised network industries. Despite the EU’s commendable efforts in this area, competition is still undermined by dominant incumbents in some ...
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  • 30
    Language: English
    Pages: 1 Online-Ressource (28 Seiten) , Diagramme, Tabellen
    Series Statement: OECD Statistics Working Papers no.2004/01
    Keywords: Economics
    Abstract: Over the past years, non-standard, flexible employment contracts have gained in importance in many OECD countries. This has made it difficult for statisticians to apply standard classifications of working arrangements to measure and analyse labour market developments. This paper presents a new classification of atypical working arrangements, developed by Istat, the Italian Statistical Institute. The paper also uses this classification to quantify the level of atypical jobs and their development between 1996 and 2002 ...
    URL: Volltext  (lizenzpflichtig)
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  • 31
    Language: English
    Pages: 53 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.380
    Keywords: Economics
    Abstract: In most OECD countries, public spending rose steadily as a share of GDP over the past decades to the mid-1990s, but this trend has since abated. The spending pressures stemming from the continued expansion of social programmes have been partly compensated by transient or one-off factors. Pressures on public spending, however, appear likely to intensify, in particular as a consequence of ageing populations. Since most OECD economies have very little scope for raising taxation or debt to finance higher spending, reforms to curb the growth in public spending while raising its cost effectiveness are now required. This paper presents a reform strategy for progress in this direction, based on detailed country reviews for over twothirds of OECD countries. Three main areas for action are identified: the budget process; management practices and the use of market mechanisms in the delivery of public services ...
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  • 32
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 54 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.405
    Keywords: Economics ; Portugal
    Abstract: An ambitious reform to increase efficiency of the Portuguese health care system was launched in 2002. In contrast to previous attempts of gradual reforms, which were never fully implemented, the strategy has been to create a big bang in the health sector, making changes essentially irreversible. The reform has two main aims: to deliver better-quality public health services than at present but at no higher cost; and to reduce the underlying growth rate of public health-care spending over the medium term. New legislation approved includes the separation of the functions of regulation, financing and provision of health care services; setting up new models of financing for providers, which impose harder budget constraints; the introduction of incentives towards productivity, management and quality improvements; the possibility for the private sector to play a larger role in service provision; and the promotion of generic drugs. After assessing the strengths and weaknesses of the ...
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  • 33
    Language: English
    Pages: 22 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.392
    Keywords: Economics
    Abstract: After nearly fifteen years of transition, the countries of Central Europe have entered the European Union on 1 May 2004. For the four countries that are members of the OECD (Czech Republic, Hungary, Poland and Slovak Republic), accession follows multiyear efforts of economic stabilisation and structural transformation, which have brought them large benefits. Although convergence towards higher levels of income appears to be a distant prospect at current trend growth rates, this is not a predetermined outcome. The experience of prior entrants suggests that much leeway is available within the framework of the European Union to undertake pro-growth policies. The most promising prospect in this respect appears to reside with employment creation, which has been so far lacking and led to a rather imbalanced pattern of growth. Bringing down labour taxes, easing employment protection legislation and reducing out-of-work benefits would make important contributions in this respect. While ...
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  • 34
    Language: English
    Pages: 36 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.401
    Keywords: Economics
    Abstract: In recent years the euro area has shown less resilience to the negative and largely OECD-wide common shocks than the English-speaking countries, but most of the smaller euro area countries have fared better than the large ones. This paper reviews policy issues that are important in fostering a speedy adjustment to shocks. We argue that the small countries are well placed to adjust swiftly to asymmetric shocks, because they are well integrated with the rest of the area. An activist fiscal policy is not needed and also not powerful enough to smooth the cycle. However, asset bubbles are a cause of concern as their limited weight means that the common monetary policy is more likely to be out of line with their cyclical position. Large countries are less well placed to cope with shocks and sluggish adjustment can be expected. Reforms should focus on raising trade linkages via the completion of the single market, on improving wage and price flexibility and on making their housing markets ...
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  • 35
    Language: English
    Pages: 43 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.381
    Keywords: Economics ; Hungary
    Abstract: The establishment of competitive markets has been one of the cornerstones Hungarian economic policy over the past decade, alongside a successful strategy of attracting foreign investment. Broad statistical measures show no signs of endemically weak domestic competition, though the country’s relatively low productivity among domestic business likely signals some sheltering from international competition. The generally healthy level of competition is partly because competition legislation and its enforcement are of a good standard. Nevertheless, room for improvement is suggested in a number of areas. In particular, it is argued that individuals should be able to initiate legal actions directly, i.e. without having to proceed via the competition authority. And, it is suggested that sanctions against individuals in hard-core cartel cases are introduced. In examining specific sectors, this paper is critical of the pace of progress towards competition in the network industries. The rail ...
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  • 36
    Language: English
    Pages: 47 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.379
    Keywords: Economics ; Japan
    Abstract: This paper examines the relationship between the output gap and inflation in Japan by estimating Phillips curves and testing for changes since the advent of low inflation and/or the stabilisation of the rate of change of inflation. The work provides empirical support for the hypothesis of a change in the relationship between output and inflation in an environment of low inflation for Japan. In particular, there is evidence that the slope of the Phillips curve becomes flatter when the inflation rate is below ½ per cent (quarter-on-quarter, non-annualised) and also that there has been a break in the relationship between demand pressures and inflation in Japan since the beginning of the 1990s. Evidence is also found that the relationship changes when the inflation rate is either rising rapidly or falling sharply. At such times, changes in demand pressure have stronger effects on inflation. These results are robust to a wide range of specifications, including corrections for the ...
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  • 37
    Language: English
    Pages: 35 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.382
    Keywords: Economics ; Euro Area ; United States
    Abstract: This paper is concerned with how stylised differences in monetary policy transmission mechanisms and product and labour market rigidities between the US and euro-area economies affect their resilience to temporary shocks. To address this issue, a small general equilibrium model with long-run neoclassical and short-run neo-Keynesian features is calibrated to replicate the key properties of the US economy (as in the US Fed’s FRB-US model). To this model, features of the euro area’s financial and then product and labour markets are added sequentially with a view to replicating what is generally agreed are aspects of the functioning of the euro-area economy (as captured by the ECB’s Area-Wide Model). Most of the analysis is conducted assuming identical monetary policy reaction functions, although the sensitivity of the results to this assumption is tested. The results illustrate the importance of adjustment patterns in financial, product and labour markets for economies’ ...
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  • 38
    Language: English
    Pages: 47 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.394
    Keywords: Economics
    Abstract: The paper examines the linkages between housing markets and the business cycle in OECD countries, focusing on how differences in the degree of resilience to economic shocks can be affected by the structural characteristics of housing and mortgage markets. The paper focuses specifically on: the transmission channel from housing wealth to consumption and on the factors behind house price variability, which help to determine whether the housing sector plays a stabilising role or not. Estimates of the marginal propensity to consume out of housing wealth are presented for ten OECD countries, where it is found that the strongest impact on consumption is in countries that have large, efficient and responsive mortgage markets. Particularly important in this regard is the degree of mortgage market “completeness” -- i.e. the extent to which the market is able to offer a variety of products and to serve a broad range of potential borrowers -- in particular, the extent to which they provide ...
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  • 39
    Language: English
    Pages: 44 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.388
    Keywords: Economics ; Sweden
    Abstract: Vigorous product market competition plays a central role in bolstering productivity growth. Sweden has strengthened competition legislation and deregulated a number of sectors, including electricity, telecommunications and parts of transport, over the past 10 to 15 years. This paper examines the current state of product market competition and proposes further measures. A stronger institutional framework would facilitate identification and elimination of anti-competitive behaviour, such as hard-core cartels. Efforts to inject effective competition into a range of network industries have been broadly successful, but specific measures could increase competition in several sectors, such as retail and construction. There is also room to boost competition in Sweden’s large and decentralised public sector and in its interactions with the private sector, so that competitive neutrality applies to all public sector activities ...
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  • 40
    Language: English
    Pages: 20 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.411
    Keywords: Economics ; Euro Area
    Abstract: This paper investigates the determinants of money demand (M3) in the euro area. It specifically examines the potential impact of financial and housing wealth on money demand. It tests the hypothesis, whether wealth associated with increases in asset prices is used to finance liquidity holdings in a standard portfolio context. Regressing velocity on interest rates and a wealth variable (a composite of residential property and stocks) within an error-correction framework provides evidence of positive wealth effects from financial and housing assets on money demand in the long run, but no significant impact in the short run. Tests suggests that the long-run and dynamic money demand equations are stable and have not been disrupted by the adoption of the euro on 1 January 1999, while the impact of wealth on money demand may have increased ...
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  • 41
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    Paris : OECD Publishing
    Language: English
    Pages: 57 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.386
    Keywords: Economics ; Denmark
    Abstract: Immigration could offer one way for Denmark to expand its labour supply, thereby lowering the dependency ratio, at least for some time, and easing the task of ensuring fiscal sustainability. However, these beneficial effects are obtained only if immigrants are in work. Yet a significant proportion of immigrants have found it quite difficult to get work in Denmark, while the country has been relatively unattractive to high-skilled foreigners. Furthermore, the structure of the economy not only makes it difficult for low-skilled foreigners to gain a foothold in the labour market, but also provides generous social benefits that have caught many of the least skilled immigrants in a benefit trap. A heightened appreciation of these problems, including a tighter focus on the economic situation of the immigrants already present, have underpinned the main changes in policies on immigration in recent years ...
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  • 42
    Language: English
    Pages: 31 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.391
    Keywords: Economics
    Abstract: This paper analyses two factors which may cause cyclically-adjusted budget balances to give a misleading picture of underlying fiscal trends. It first explores the implications of recent large asset-market related fluctuations in government revenues for the measurement of structural budget balances. And second, it reviews the impact of the increased recourse to stopgap “one-off” measures to control deficits. The results confirm that since the late 1990s revenues have been more buoyant than would have been warranted by the registered rate of nominal output growth and the impact of tax measures. The study suggests that from 1995 to 2000 the average contribution of “unwarranted” revenues to year-to-year changes in cyclically-adjusted budget positions ranged from negligible to around ½ per cent of GDP, the main countries affected being the United States, the United Kingdom, France and some Nordic countries. Conversely, the subsequent decline in tax receipts has been sharper than could ...
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  • 43
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    Paris : OECD Publishing
    Language: English
    Pages: 46 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.413
    Keywords: Wettbewerbspolitik ; Wettbewerbsrecht ; Deregulierung ; Finnland ; Economics ; Finland
    Abstract: Following the deep recession in the early 1990s growth has been strong, but the scope for economic catch-up remains considerable and cross-country empirical evidence suggests that enhancing competition is an important means of achieving this. Structural reforms to strengthen competition in the early 1990s did boost growth and were also ahead of similar developments in the EU. However, indicators suggest that relatively weak competition remains in a number of sectors. Moreover, potential competition is reduced by a sparse population and relative long distances to large markets, which together with the prevalence of local monopolies and public ownership in many network industries, point to the need for greater vigilance to sustain and promote competition. Further reforms to promote product market competition should focus on fundamental changes in the regulatory approach as well as more incremental measures to intensify competition. The competition authority should concentrate ...
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  • 44
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    Paris : OECD Publishing
    Language: English
    Pages: 41 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.414
    Keywords: Economics ; Poland
    Abstract: With almost 50 per cent of the working age population not working, improving labour market performance represents an essential and daunting challenge for Poland. While some of today’s joblessness is cyclical in nature, most of it appears to be structural. This paper argues that to increase employment levels policy will need to focus on reducing significantly the inactivity traps inherent in the Polish personal transfer system, while improving the efficiency and targeting of social transfers to ensure resources flow to those truly in need. Simultaneously, efforts must be extended to increase firms' propensity to hire the outof-work, by lowering the costs of low-skill labour, reducing associated administrative and regulatory costs and in the longer term by providing graduates with more relevant skills. This paper outlines reforms in each of these areas which, if implemented, would serve to reverse the recent decline in employment and improve the fairness of income ...
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  • 45
    Online Resource
    Online Resource
    Paris : OECD Publishing
    ISBN: 9789264033986
    Language: English
    Pages: Online-Ressource (196 p)
    Keywords: Energy ; Economics ; Energiewirtschaft ; Handbuch ; Statistik
    Abstract: Detailed, complete, timely and reliable statistics are essential to monitor the energy situation at a country level as well as at an international level. Energy statistics on supply, trade, stocks, transformation and demand are indeed the basis for any sound energy policy decision. This manual is designed to provide a basic understanding of energy statistics to the layman.
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  • 46
    Online Resource
    Online Resource
    Paris : OECD Publishing
    ISBN: 9789264108479
    Language: English
    Pages: Online-Ressource (24 p)
    Keywords: Economics
    Abstract: This brochure presents highlights from OECD Forum 2004. It includes texts of keynote speeches and summaries of each session.
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  • 47
    ISBN: 9789264019331
    Language: English
    Pages: Online-Ressource (165 p.)
    Parallel Title: Parallelausg. Comprendre la croissance économique ; Analyse au niveau macroéconomique, au niveau sectoriel et au niveau de l'entreprise
    Parallel Title: Parallelausg. Was ist Wirtschaftswachstum?; Eine Betrachtung aus makroökonomischer, branchenbezogener und betriebswirtschaftlicher Sicht
    Parallel Title: Parallelausg. Compreender o Crescimento Económico; Nível macro, nível industrial, nível empresarial
    Parallel Title: Parallelausg. Comprendre la croissance économique : Analyse au niveau macroéconomique, au niveau sectoriel et au niveau de l'entreprise
    Parallel Title: Parallelausg. Was ist Wirtschaftswachstum?: Eine Betrachtung aus makroökonomischer, branchenbezogener und betriebswirtschaftlicher Sicht
    Parallel Title: Parallelausg. Compreender o Crescimento Económico: Nível macro, nível industrial, nível empresarial
    Keywords: Science and Technology ; Economics
    Abstract: This book is a unique tool providing facts, figures and analysis of economic growth in OECD countries. The analysis focuses on the growth patterns of OECD countries during the last decade and identifies the fundamental drivers of growth. It also looks at how and why countries react differently to these drivers. It examines growth at the macro-economic level, industry level and firm level and also analyses the contribution of information technology (IT) at each of these levels. Packed with over 50 tables and figures, the book provides unique data to better understand the reality of economic growth.
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  • 48
    ISBN: 9789264020344
    Language: English
    Pages: Online-Ressource (240 p.) , ill.
    Parallel Title: Parallelausg. L'espace à l'horizon 2030 ; quel avenir pour les applications spatiales ?
    Parallel Title: Parallelausg. L'espace à l'horizon 2030 : quel avenir pour les applications spatiales ?
    Keywords: Science and Technology ; Economics
    Abstract: Since the launch of Sputnik in 1957, media attention has focused almost exclusively on spectacular space missions. However, space actors have also faced their fair share of setbacks: the Columbia tragedy, extravagant cost overruns and painful reductions in public support to space ventures.Over the years, advances in space technologies have led to the development of increasingly sophisticated military and civil space assets. Where is the space sector heading now? What are the obstacles to its further development? What are its future prospects? What are the applications that are likely to be successful in the future? To answer these questions, this report adopted a scenario-based approach to explore the future evolution of major components of the space sector (military space, civil space, commercial space) over the next thirty years. It covers four major factors of change: geopolitical developments, socio-economic developments, energy and the environment, technology. "Outstanding review, especially useful for the three sophisticated scenarios, useful to many futurists." Future Survey, August 2004.
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  • 49
    Online Resource
    Online Resource
    Paris : OECD Publishing
    ISBN: 9789264105737
    Language: English
    Pages: Online-Ressource (132 p)
    Parallel Title: Druckausg.
    DDC: 373.81
    Keywords: Education ; Economics ; Electronic books ; OECD ; Sekundarstufe 2 ; Internationaler Vergleich ; Methode
    Abstract: The International Survey of Upper Secondary Schools (ISUSS) was established to determine how successful upper secondary schools are in preparing young adults for life. It investigates key factors which shape the success of upper secondary students' learning. This publication describes the methodology of the survey and allows researchers to understand and replicate its analyses.
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  • 50
    Online Resource
    Online Resource
    Paris : OECD Publishing
    ISBN: 9789264017214
    Language: English
    Pages: Online-Ressource (228 p.)
    Series Statement: China in the Global Economy
    Parallel Title: Druckausg.
    DDC: 339.22
    Keywords: Social Issues/Migration/Health ; Development ; Economics ; China, People’s Republic ; Konferenzschrift 2003 ; Electronic books ; China ; Einkommensunterschied ; OECD ; Einkommensunterschied
    Abstract: China has experienced spectacular economic growth since 1978, averaging 8 to 9% per year. As a result, on average, people’s standard of living is far higher than ever before in China’s history. However, economic disparities have also widened very significantly during this period, raising questions about the appropriateness and sustainability of existing policies. This book includes the papers from a seminar held in Paris on 20-21 October 2003 to explore the causes of China's growing economic disparities. The seminar was organised by the OECD and the National Development and Reform Commission (NDRC) of China. The papers by Chinese and OECD experts look at the driving forces behind these trends and discuss possible policy responses. The collection presents many comparisons with income inequality trends in OECD countries, including geographic disparities, and looks at ways to improve Chinese data on income distribution.
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  • 51
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2004, no. 1, p. 109-131
    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. 2004, no. 1, p. 109-131
    Keywords: Economics
    Abstract: The Swiss Institute for Business Cycle Research regularly conducts business tendency surveys (BTS) amongst manufacturing firms. The information thus generated is available with a publication lead to the official Swiss sales, production, order and inventory statistics. It is shown that the survey data can be used to generate reasonably precise estimates of the reference series with leads of at least one quarter. Specifically, cross-correlations of quarterly series are computed to screen the data for pairs of highly correlated business tendency survey series and corresponding official statistics. All pairs are identified where the maximum correlation shows up simultaneously or with a lead of the survey based series and exceeds a given threshold...
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  • 52
    Online Resource
    Online Resource
    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2004, no. 1, p. 71-92
    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. 2004, no. 1, p. 71-92
    Keywords: Economics
    Abstract: In this paper, we develop a likelihood approach for quantification of qualitative survey data on expectations and perceptions and we propose a new test for expectation consistency (unbiasedness). Our quantification scheme differs from existing methods primarily by using prior information (perhaps derived from economic theory or well established empirical relations) on the underlying process driving the variable of interest. To investigate the properties of our novel quantification scheme and to analyze the size and power properties of the new expectation consistency test, we perform Monte Carlo simulation studies. Overall, the simulation results are very encouraging and show that efficiency gains from including prior information can be substantial relative to existing quantification schemes. Finally, we provide an empirical illustration...
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  • 53
    Online Resource
    Online Resource
    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2004, no. 2, p. 227-257
    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. 2004, no. 2, p. 227-257
    Keywords: Economics ; New Zealand
    Abstract: This paper fits Markov switching models to quarterly New Zealand aggregate GDP growth rates for the period 1978:1 to 2003:2 in order to analyse changes in mean and volatility over time. The models considered are drawn from a simple class of parsimonious, four state, Markov switching models which encompass a wide range of stationary time series behaviour from linear AR(1) models to non-linear models with persistent cycles and outliers. An overall objective is to use the models to help understand and identify changes in the historical growth performance of New Zealand's small open economy, particularly pre and post wide ranging economic reforms. Conclusions to emerge are that, in contrast to the 1980s, New Zealand GDP growth experienced an unusually long period of time in high growth and low volatility regimes since the early 1990s. In addition, New Zealand does not appear to have ...
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  • 54
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    Online Resource
    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2003, no. 2, p. 109-161
    ISSN: 1995-2856
    Language: English
    Pages: 55 p
    Parallel Title: Parallelausg. Améliorer le rapport coût-efficacité des dépenses publiques : L'expérience des pays de l'OCDE
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2003, no. 2, p. 109-161
    Keywords: Economics
    Abstract: In most OECD countries, public spending rose steadily as a share of GDP over the past decades to the mid-1990s, but this trend has since abated. The spending pressures stemming from the continued expansion of social programmes have been partly compensated by transient or one-off factors. Pressures on public spending, however, appear likely to intensify, in particular as a consequence of ageing populations. Since most OECD economies have very little scope for raising taxation or debt to finance higher spending, reforms to curb the growth in public spending while raising its cost effectiveness are now required. Based on detailed country reviews for over two-thirds of OECD countries, this paper identifies three main areas for action: the budget process; management practices; and the use of market mechanisms in the delivery of public services ...
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  • 55
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2004, no. 1, p. 93-108
    ISSN: 1995-2899
    Language: English
    Pages: 16 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2004, no. 1, p. 93-108
    Keywords: Economics
    Abstract: Methods for continuously monitoring business cycles are compared. A turn in a leading index can be used to predict a turn in the business cycle. Three likelihood based methods for turning point detection are compared in detail by using the theory of statistical surveillance and by simulations. One of the methods is a parametric likelihood ratio method. Another includes a non-parametric estimation procedure. The third is based on a Hidden Markov Model. Evaluations are made of several features such as knowledge of shape and parameters of the curve, types and probabilities of transitions and smoothing. Results on the expected delay time [of](to) a correct alarm and the predictive value of an alarm are discussed...
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  • 56
    Online Resource
    Online Resource
    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2003, no. 2, p. 51-108
    ISSN: 1995-2856
    Language: English
    Pages: 60 p
    Parallel Title: Parallelausg. Les femmes sur le marché du travail : Évidence empirique sur le rôle des politiques économiques et autres déterminants dans les pays de l'OCDE
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2003, no. 2, p. 51-108
    Keywords: Economics
    Abstract: This paper examines the determinants of female labour force participation in OECD countries. The econometric analysis uses a panel data set covering 17 OECD countries over the period 1985-1999, and distinguishes between part-time and full-time female participation rates. It shows a positive impact on female participation of a more neutral tax treatment of second earners (relative to single individuals), childcare subsidies, and paid maternity and parental leave. On the other hand, child benefits reduce female participation due to an income effect and their lump-sum character. Female education, the general labour market conditions, and cultural attitudes remain major determinants of female participation. Simulations illustrate the potentially significant impact that some of the examined policies could exert on female participation ...
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  • 57
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    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2003, no. 2, p. 7-50
    ISSN: 1995-2856
    Language: English
    Pages: 46 p
    Parallel Title: Parallelausg. Comportement de départ à la retraite dans les pays de l'OCDE : L'impact des systèmes de pension de vieillesse et d'autres programmes de transferts sociaux
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2003, no. 2, p. 7-50
    Keywords: Economics
    Abstract: This paper examines the impact of old-age pension systems and other social transfer programmes on the retirement decision of older males in OECD countries. For each of the 55-59, 60-64 and 65+ age groups, a new panel dataset of retirement incentives embedded in those schemes is constructed, focusing mainly on the implicit tax rate on continued work. These currently differ widely across OECD countries: they are high in most Continental European Countries, compared with Japan, Korea, English-speaking and Nordic countries. Simple cross-country correlations and panel data econometric estimates both show that implicit taxes on continued work have sizeable effects on the departure of older male workers from the labour force ...
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  • 58
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2004, no. 2, p. 171-191
    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. 2004, no. 2, p. 171-191
    Keywords: Economics
    Abstract: In an important paper, Diebold and Rudebusch (1991) find that, despite good performance for post revision historical versions, the U.S. Index of Leading Economic Indicators (LEI) fails to improve forecasts in real time out-of-sample tests. This paper revisits the issue of real-time performance of the LEI using growth rate forecast specifications. We contrast real-time out-of-sample tests of LEI forecasts using „composition-changing” or „as-published” versions of the LEI with those based on „composition-constant” indexes. The goal is ...
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  • 59
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    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2003, no. 2, p. 185-200
    ISSN: 1995-2856
    Language: English
    Pages: 26 p
    Parallel Title: Parallelausg. Vers une harmonisation des estimations de l'investissement en logiciels
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2003, no. 2, p. 185-200
    Keywords: Economics
    Abstract: The latest system of national accounts (SNA93) recommended that purchases of software (and any ownaccount production) should be treated as investment as long as the acquisition satisfied conventional asset requirements. This change added about 1 per cent to GDP in most OECD economies in the mid-1990s. However, the range of the revision has been significantly different across countries, leading many observers to question the comparability of these statistics. An OECD task force has formulated a set of recommendations describing a harmonised method for estimating software and this paper provides estimates of changes to GDP levels and growth that might be expected if the OECD recommendations were applied. Estimates of changes are also presented using an alternative harmonised method. Whichever harmonised method is applied, the impact on GDP levels is likely to be significant, and in some countries about 1 per cent of GDP ...
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  • 60
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2004, 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. 2004, no. 1, p. 43-69
    Keywords: Economics
    Abstract: Interest rates play a key role in free market economies. According to the Taylor rule, shortterm interest rates depend on deviations of the current inflation rate from a normative value and of the output gap. Given the difficulty of observing the output gap, we postulate that alternative indicators of pressure on capacity should be monitored, especially those obtained from business surveys. Primarily, our work compares those empirically observed capacity utilization figures (CU) with the difference between actual and potential GDP, and tries to assess monetary policy on the basis of these indicators. The analysis of monetary policy is done in the first case by using a simple single equation framework and in a next step by using a more advanced vector autoregressive model. Given the fact that the survey measure of output gap captures only manufacturing and thus omits the important service sector which has a high share in value added we constructed a more comprehensive measure of capacity utilization (CU*). The new indicator is based on CU in manufacturing industry and on the confidence indicator for services...
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  • 61
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2004, no. 1, p. 13-41
    ISSN: 1995-2899
    Language: English
    Pages: 29 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2004, no. 1, p. 13-41
    Keywords: Economics
    Abstract: This paper uses survey data in order to analyse and assess the empirical properties of consumers’ inflation expectations in the euro area and explores their role in explaining the observed dynamics of inflation. The probability approach is used to derive quantitative estimates of euro area inflation expectations from the qualitative data from the European Commission’s Consumer Survey. The paper subsequently analyses the empirical properties of the estimated inflation expectations by considering the extent to which they fulfil some of the necessary conditions for rationality. The results suggest an intermediate form of rationality. In particular, the surveyed expectations are an unbiased predictor of future price developments and they incorporate – though not always completely – the information contained in a broad set of macroeconomic variables. In addition, although persistent deviations between consumers’ expectations and the rational outcome have occurred, consumers are shown to rationally adjust their expectations in order to eventually “weed out” any systematic expectational errors...
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  • 62
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2004, no. 2, p. 147-170
    ISSN: 1995-2899
    Language: English
    Pages: 24 p
    Titel der Quelle: OECD journal: journal of business cycle measurement and analysis
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2004, no. 2, p. 147-170
    Keywords: Economics
    Abstract: The objective of this article is to reassess the validity of the consumer confidence (or sentiment) indices in anticipating the evolution of economic activity by considering a fairly high number of countries across the world (i.e. France, Germany, Italy, UK, USA, Japan, Canada and Australia) over a period of about thirty years, from the beginning of the seventies till the end of 2002 (quarterly data). To our knowledge this is the first attempt to analyse the consumer confidence index for several countries over such a long period of time. We model the CSIoutput relationship in a cointegrated vector autoregression (VAR) framework, by considering a common set of variables for all countries. Our findings suggest that: (a) what appears to be the main driving forces of consumer confidence cannot be simply summarised on the basis of ...
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  • 63
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    Paris : OECD Publishing
    In:  OECD journal: journal of business cycle measurement and analysis Vol. 2004, no. 2, p. 193-225
    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. 2004, no. 2, p. 193-225
    Keywords: Economics
    Abstract: The intricate issue of detecting and forecasting macroeconomic cycles turning points has been once more perfectly illustrated with the global downturn experienced by most countries around the world in 2000-2001. Governments and Central Banks are very sensitive to economic indicators showing signs of deterioration in order to adjust their policies sufficiently in advance to avoid further deterioration or even a recession. These indicators require at least two qualities: they must be reliable and they must provide a readable signal as soon as possible. In this paper, we discuss ...
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  • 64
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    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2003, no. 2, p. 163-184
    ISSN: 1995-2856
    Language: English
    Pages: 24 p
    Parallel Title: Parallelausg. La mesure des stocks de capital, des services du capital et de la productivité multifactorielle
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2003, no. 2, p. 163-184
    Keywords: Economics
    Abstract: Capital services measures have long been recognised as the appropriate concept to capture capital input in production and productivity analysis. However, only few countries’ statistical agencies construct and publish such capital services measures. This paper describes capital services measures developed by OECD and presents estimation methods and results for the G7 countries. By way of example, the consequences of applying capital services measures instead of measures of gross or net capital stocks in the computation of rates of multi-factor productivity growth are examined for three countries, the United States, France and Australia ...
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  • 65
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 50 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.364
    Keywords: Economics
    Abstract: Accurate and timely information on the current state of economic activity is an important requirement for the policymaking process. Delays in the publication of official statistics mean that a complete picture of economic developments within a particular period emerges only some time after that period has elapsed. The research described in this paper develops a set of econometric models that provide estimates of GDP growth for a number of major OECD countries and zones in the two quarters following the last quarter for which official data have been published. These models exploit the considerable amount of monthly conjunctural information that becomes available before the release of official national accounts data. Information is incorporated from both ‘soft’ indicators, such as business surveys, and ‘hard’ indicators, such as industrial production and retail sales, and use is made of different frequencies of data and a variety of estimation techniques. An automated procedure is ...
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  • 66
    ISBN: 9789264299511
    Language: English
    Pages: Online-Ressource (102 p)
    Keywords: Economics
    Abstract: Most countries have suffered from inflation within recent memory and countries in Latin America and the former Soviet Union have lived with very high rates of inflation for several years. Under inflation, national accounts at current as well as at constant prices will be seriously distorted unless special adjustment techniques are applied. By explaining these in a systematic fashion, the author brings new insights into the definition and measurement of income as well as the calculation and interpretation of price indices.
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  • 67
    ISBN: 9789264199460
    Language: English
    Pages: Online-Ressource (154 p.) , ill.
    Parallel Title: Parallelausg. Les sources de la croissance économique dans les pays de l'OCDE
    Parallel Title: Parallelausg. Die Quellen wirtschaftlichen Wachstums in den OECD-Ländern
    DDC: 330.9177
    Keywords: Science and Technology ; Economics
    Abstract: Understand growth disparities between OECD countries over the past twenty years through identification and analysis of underlying factors. Growth patterns through the 1990s and into this decade have turned received wisdom on its head. For most of the post-war period, OECD countries with relatively low GDP per capita grew faster than richer countries. Since the late 1990s, however, that pattern has broken down with the United States notably drawing further ahead of the field. This publication provides a comprehensive overview of growth drivers across the OECD and the extent to which disparities are attributable to factors like new technology and R&D, macroeconomic policy, education and training, labour market flexibility, product market competition, and barriers to business start-up and closure.
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  • 68
    ISBN: 9789264101296
    Language: English
    Pages: Online-Ressource (104 p.) , ill.
    Parallel Title: Parallelausg. Les TIC et la croissance économique ; Panorama des industries, des entreprises et des pays de l'OCDE
    Parallel Title: Parallelausg. Les TIC et la croissance économique : Panorama des industries, des entreprises et des pays de l'OCDE
    Keywords: Science and Technology ; Economics
    Abstract: This report examines the impacts of ICT on business performance and the policies that can help seize its benefits. It argues that ICT remains an important technology for the years ahead, as ICT networks have now spread throughout the economy. What counts now is how the technology should be made to work. .
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  • 69
    Language: English
    Pages: 17 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.356
    Keywords: Economics ; Euro Area
    Abstract: A problem associated with inflation differentials in monetary unions is that the “crowding-in” effect of lower real interest rates associated with high inflation will initially outweigh the loss of competitiveness (crowding out). The crowding-in effect may produce volatility in house prices, especially if tax regimes favour the occurrence of bubbles. This paper shows that this is the case notably in the smaller countries of the euro area, and this could explain the persistence of inflation differentials in the area to some extent ...
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  • 70
    ISBN: 9789264101227
    Language: English
    Pages: Online-Ressource (292 p.) , ill.
    Parallel Title: Parallelausg. Les risques émergents au XXIe siècle ; Vers un programme d'action
    Parallel Title: Parallelausg. Les risques émergents au XXIe siècle : Vers un programme d'action
    Keywords: Environment ; Social Issues/Migration/Health ; Science and Technology ; Economics
    Abstract: The 21st Century has so far witnessed a host of large-scale disasters in various parts of the world including: windstorms, flooding, new diseases infesting both humans and animals, terrorist attacks and major disruptions to critical infrastructures. It is not just the nature of major risks that seems to be changing, but also the context in which risks are evolving as well as society’s capacity to manage them. This book explores the implications of these developments for economy and society in the 21st century, focussing in particular on the potentially significant increase in the vulnerability of major systems. It concentrates on five large risk clusters: natural disasters, technological accidents, infectious diseases, food safety and terrorism, identifies the challenges facing OECD countries and sets out recommendations for governments and the private sector as to how the management of emerging systemic risks might be improved.
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  • 71
    Language: English
    Pages: 1 Online-Ressource (90 Seiten) , 21 x 29.7cm
    Series Statement: OECD statistics working papers 2003, 1
    Keywords: Economics
    Abstract: This statistical working paper is the exact copy of the report of the joint OECD/Eurostat task force that was presented at the October 2002 OECD National Accounts Expert Meeting. The report confirms that current estimates of software investment differ significantly between countries for pure statistical reasons, thus affecting the comparability of GDP. The objective of this report is to propose concrete recommendations for a harmonised re-estimation of software investment in the national accounts. Recommendations cover definitional and conceptual issues (what is software?, what is software investment?), measurement issues in international trade and price, as well as general methods of estimation (sources and commodity-flow methods). The principle of the recommendations has been adopted by a large majority of OECD member countries during the October 2002 meeting. However, new estimates based on these recommendations should only be available in the forthcoming years, depending on the ...
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  • 72
    Language: English
    Pages: 64 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.350
    Keywords: Economics ; United States
    Abstract: This paper assesses the performance of the United States health system in an international context and discusses potential directions for reform. The US health system is unique among OECD countries in its heavy reliance on the private sector for both financing and delivery of health care. The public sector plays a not-insignificant role, providing coverage for the elderly, disabled and poor, and spending as much on health as a share of GDP as is spent in total by many OECD countries. The system is considered highly flexible, capable of evolving quickly to address the changing preferences of consumers and the incentives put in place by the requirements of payers and government regulation. It is also characterised by excellent access by the insured population to the latest advances in medical technology. However, 14 per cent of Americans lack insurance coverage, and the decentralised, multi-payer approach to financing and regulation provides relatively few levers to control ...
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  • 73
    Language: English
    Pages: 19 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.351
    Keywords: Economics ; Euro Area
    Abstract: An early criticism of the Stability and Growth Pact has pointed to its asymmetric nature and the weak mechanisms to prevent politically-motivated fiscal policies: its constraints would bite in downswings but not in upswings, especially if in the latter the electoral cycle increases the temptation to run expansionary policies. We find that the experience of the initial years of EMU lends support to this criticism. Overall, unlike the experience in the run-up to EMU, fiscal policies had an expansionary bias, and a “genuine” discretionary boost took place in correspondence to political elections. Both sign and composition of such discretionary changes are in line with the predictions of the recent literature on electoral budget cycles. Closer fiscal surveillance may help detect early such behaviour, but it is unlikely to curb the incentives to run politically-motivated fiscal policies when elections approach ...
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  • 74
    Language: English
    Pages: 42 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.352
    Keywords: Economics
    Abstract: One commonly held view about the difference between continental European countries and other OECD countries, especially the United States, is that the heavy regulation of Europe reduces its growth. Using newly assembled data on regulation in several sectors of many OECD countries, we provide substantial and robust evidence that various measures of regulation in the product market, concerning in particular entry barriers, are negatively related to investment. The implications of our analysis are clear: regulatory reforms, especially those that liberalise entry, are very likely to spur investment ...
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  • 75
    Language: English
    Pages: 103 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.369
    Keywords: Economics
    Abstract: This paper provides a synthesis of age-related developments and policies for a range of OECD countries, drawing on recent OECD work. It describes the expected impact of ageing on expenditure and fiscal pressures taking into account the current configuration of age-related policies. Since later retirement appears to be a key policy to easing the burden of ageing, it looks at indicators of the incentives for early retirement via pension systems and other transfer programmes permitting early withdrawal from the labour market for those approaching retirement. The report discussed the different types of age-related reforms undertaken up to now and areas where further reforms appear needed ...
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  • 76
    Language: English
    Pages: 67 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.376
    Keywords: Economics
    Abstract: This paper examines the determinants of female labour force participation in OECD countries, including a number of policy instruments such as the tax treatment of second earners (relative to single individuals), childcare subsidies, child benefits, paid maternity and parental leaves, and tax incentives to sharing market work between spouses. The econometric analysis uses a panel data set covering 17 OECD countries over the period 1985-1999, and distinguishes between part-time and full-time female participation rates. It shows a positive impact on female participation of a more neutral tax treatment of second earners (relative to single individuals), stronger tax incentives to share market work between spouses, childcare subsidies, and paid maternity and parental leaves Unlike childcare subsidies, child benefits reduce female participation due to an income effect and their lump-sum character. Finally, female education, the general labour market conditions, and cultural attitudes ...
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  • 77
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    Paris : OECD Publishing
    Language: English
    Pages: 95 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.374
    Keywords: Economics
    Abstract: This study reviews health-system reforms in OECD countries over the past several decades and their impact on the following policy goals: ensuring access to services; improving the quality of care and its outcomes; allocating an “appropriate” level of resources to health care (macroeconomic efficiency); and ensuring microeconomic efficiency in service provision. While nearly all OECD countries have achieved universal insurance coverage, initiatives to address persistent disparities in access are now being undertaken in a number of countries. In light of new evidence of serious problems with health-care quality, many countries have recently introduced reforms, but it is too soon to generalise as to the relative effects of alternative approaches. Instruments aimed at cost control have succeeded in slowing the growth of (particularly public) health-care spending over the 1980s and 1990s but health-care spending continues to rise as a share of GDP in most countries. A few countries have ...This paper is also published under OECD Health Working Papers Series.
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  • 78
    Language: English
    Pages: 15 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.372
    Keywords: Economics
    Abstract: This working paper describes a medium-term reference scenario for the OECD based on the shortterm projections described in OECD Economic Outlook No.74. OECD-wide real GDP is projected to expand at 2¾ per cent per annum between 2006 and 2009 and the area-wide rate of unemployment to fall below 6 per cent at the end of the period, while inflation rises only slightly. Despite a fairly robust recovery, fiscal balances remain in significant deficit for the area as a whole; there is little overall improvement in current external imbalances between regions ...
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  • 79
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 60 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.368
    Keywords: Economics ; Euro Area
    Abstract: Although there is no single yardstick to gauge the degree of integration, there is ample evidence that financial markets in the euro area have some way to go before national demarcation lines will effectively disappear and financial market integration is satisfactory. While there has been a push towards integration from the centre, global developments, such as advances in information technology, falling communication costs and standardisation of products, have been the main drivers, while national policies often acted as an impediment. The integration of financial markets finally became a policy priority with the adoption of the FSAP as part of the Cardiff process launched in 1998. For the European Union to have a fully satisfactory regulatory framework for financial markets in place in 2005, further efforts are needed. This paper takes stock of current developments and proposes a set of further suggestions for policy action ...
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  • 80
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 36 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.363
    Keywords: Economics ; Thailand
    Abstract: This study investigates the relative importance of factors shaping banking and corporate landscapes in Thailand after 1997 through an empirical analysis of micro-data of Thai banks and firms. The results of the analysis of the bank data show that the deceleration of bank credit growth is mainly attributable to the fallout from the Asian crisis and postcrisis regulatory changes. While high non-performing loans (NPLs) and foreclosed assets on balance sheets hinder the resumption of lending, those banks that were well capitalised, larger or domestic could resume lending faster. The analysis also showed that big, domestic, well-capitalised banks with higher NPLs are more prone to diversify into securities investments. The analysis of the firm sample indicates that Thai firms have diversified their sources of financing over the period of 1997-2000, which is reflected in the rise of the share of debt securities and trade financing. As a conclusion from the above analyses, the ...
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  • 81
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 22 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.361
    Keywords: Economics
    Abstract: An unprecedented “boom and bust” investment cycle occurred in the high-tech industries at the turn of the century, in particular in the telecommunications sector. Regulatory reforms and technological innovation fuelled expectations of robust growth in traffic, revenue and earnings. Eventually, however, the volume of traffic expanded less than anticipated. Faced with severe financial difficulties, telecommunication firms sharply curtailed their investment and embarked on restructuring. The impact of such restructuring on the overall economy has been relatively small, but it has had severe upstream effects on equipment suppliers and technology firms. Confidence is now slowly returning to the sector thanks to the efforts of companies to strengthen their balance sheets and to renegotiate their debts. Although the necessary restructuring now underway in the industry is painful, governments and regulators should resist the temptation to provide relief to companies by easing competition ...
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  • 82
    Language: English
    Pages: 1 Online-Ressurce (39 Seiten) , 21 x 29.7cm
    Series Statement: OECD statistics working papers 2003, 2
    Keywords: Economics ; European Union ; Japan ; United States
    Abstract: This working paper has been presented and discussed at the October 2002 OECD National Accounts Experts Meeting. The objective of the paper is two fold: (1) present comparable results for household financial and non financial assets and liabilities for Europe, the USA and Japan, (2) analyse the change in the composition of household gross and net wealth of these countries and zones between 1995 and 2000. Data is based on official financial accounts sources. However the paper proposes (and estimate the corresponding data) an original classification, better adapted to analysis: pension funds assets are broken down between defined-benefit and defined contribution, life insurance between unit-linked and guaranteed-rate, mutual-funds between equity, bond and mixed. The paper discusses the reliability of the data, including non listed shares and non financial assets. The paper then discusses global and detailed compared trends of household wealth between countries ...
    URL: Volltext  (lizenzpflichtig)
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  • 83
    Language: English
    Pages: 59 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.358
    Keywords: Economics ; Finland
    Abstract: Finland is committed to high quality and extensive public services and a high level of income redistribution. The heavy tax burden these commitments require is becoming increasingly difficult to sustain due to tax competition and the need to harmonise certain taxes with other EU countries. These pressures on taxation combined with the fiscal effects of rapid ageing imply a need for continued restraint of aggregate expenditure and a need for further efficiency gains in the provision of public services. This paper, one of a series of OECD reviews on public expenditure, looks at how Finland is coping with this challenge. It concludes that the fundamental framework guiding public expenditure in Finland is sound. And, in many areas of public activity the country compares very favourably internationally. However, recent slippage in fiscal discipline needs to be addressed. Also it will be important to monitor, and if necessary follow up on, reforms of pensions and early retirement ...
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  • 84
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    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 71 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.365
    Keywords: Economics
    Abstract: This paper constructs indicators of tax burden on FDI in order to review their trends and cross-country patterns. Over the 1990s, the overall tax burden on inward FDI (measured by the effective marginal tax rates) fell by 8 percentage points, reflecting corporate tax reforms in some OECD countries. Nevertheless, a large variation across host countries still remains. With the effective tax rates on inward FDI differing across host countries by as much as 28 percentage points for marginal FDI and by as much as 21 percentage points for infra-marginal FDI in 2001, a cross-country comparison of tax burden indicators shows that, irrespective of the tax burden indicators chosen, Canada, Iceland and Japan are persistently ranked as high-tax host countries over the 1990s. It is also found that there is more variation in the tax burdens faced by a parent company operating in different host countries than in the tax burdens faced by subsidiaries from different home countries operating in the ...
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  • 85
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 36 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.362
    Keywords: Economics
    Abstract: This study investigates the changing relations between banks and their business customers in selected Asian emerging economies. These changes are manifest in declining bank lending growth and can be attributed to three major driving forces: cyclical factors, the fallout from the 1997 Asian crisis and structural factors affecting both the supply of and demand for bank credit. In response to declining lending growth and profits, banks have been diversifying their customer base and scope of activities. Alternative strategies to restore profitability and stay afloat in the global competition arena are consolidation and branching overseas. Faced with more stringent bank lending conditions in some cases, and seeking to reduce their debt loads, larger firms have been turning to capital markets as part of an effort to diversify their sources of funding. The measures taken by banks and firms to recover from the crisis and the 2001 downturn can be considered effective, but not sufficient to ...
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  • 86
    Language: English
    Pages: 62 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.348
    Keywords: Economics
    Abstract: This paper presents evidence on firm demographics and firm survival for a group of ten OECD countries. For each country a dataset of sectoral indicators of firm dynamics has been created using information from business registers. The patterns of firm entry, exit, survival and employment growth are described and analysed across countries, sectors, and over time. We find that both sectoral and country effects are important in determining firms demographics. We also find that entry and exit rates are fairly similar across countries, while post entry performance differ markedly between Europe and the US, a potential indication of the importance of barriers to firm growth as opposed to barriers to entry. Further, the paper provides a discussion of how these data may be used to gain a better understanding of the process through which economic policy and institutions may affect aggregate patterns of employment, output, and productivity growth ...
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  • 87
    Language: English
    Pages: 30 p. , 21 x 29.7cm
    Series Statement: OECD statistics working papers 2003, 3
    Keywords: Economics
    Abstract: This working paper has been written as a contribution to the OECD e-government project launched in 2001, which explores how governments can best exploit information and communication technologies (ICT) to enhance good governance principles and achieve public policy goals. The paper highlights the way in which the collection, compilation and dissemination of statistics has changed dramatically as NSOs have taken advantage of the opportunities afforded by ICT advances. In this regard, it describes changes that have occurred in national statistical offices (NSOs) in response to growing citizen demand and outlines both developments that have been made possible and necessary by recent technological advances in software, communications and computing. In addition, the paper shows that statistical institutions have a significant role to play in e-government developments, having often been given a major role in national e-government initiatives. Finally, it shows that the drive towards ...
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  • 88
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    Paris : OECD Publishing
    Language: English
    Pages: 36 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.357
    Keywords: Economics
    Abstract: This paper provides new measures of restrictions on inward foreign direct investment (FDI) for OECD countries. Several different types of restrictions are considered: limitations on foreign ownership, screening or notification procedures, and management and operational restrictions. These restrictions are computed for nine sectors and eleven sub-sectors, most of which are in services, and then aggregated into a single measure for the economy as a whole. According to the aggregate indicators, the last two decades, and especially the 1990s, have witnessed dramatic liberalisation in FDI restrictions. OECD countries are now generally open to inward FDI, although there remain substantial differences between countries and across industries. The most open countries are now in Europe, at least as far as statutory restrictions are concerned. The preponderance of remaining restrictions is in services, with almost no overt restrictions in manufacturing ...
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  • 89
    Language: English
    Pages: 47 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.370
    Keywords: Economics
    Abstract: This paper examines the impact of old-age pension systems and other social transfer programmes on the retirement decision of older males in OECD countries. For each of the 55-59, 60-64 and 65+ age groups, a new panel dataset (22 OECD countries over 1969-1999 or shorter periods in some cases) of retirement incentives embedded in those schemes is constructed for an illustrative worker. The main focus is on the implicit tax rate on working for five more years, which sums up various dimensions of retirement incentives such as the pension accrual rate but also, to a lesser extent, the availability and generosity of benefits. There is currently wide dispersion across OECD countries in implicit tax rates on continued work embedded in old-age pension and early retirement schemes: they are high in most Continental European Countries, compared with Japan, Korea, English-speaking and Nordic countries. Simple cross-country correlations and panel data econometric estimates both show that ...
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  • 90
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 64 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.375
    Keywords: Economics
    Abstract: Despite its apparent advantages, devolution of fiscal responsibilities has not proceeded evenly over the past two decades. Decentralisation can strengthen the democratic process, allow governments to tailor the supply of public goods to local preferences and introduce some competition across jurisdictions, thus raising public sector efficiency. It can, however, entail efficiency losses, and make it difficult to implement redistributive policies and complicate macroeconomic management. On the spending side, local provision may fail to exploit economies of scale and internalise territorial spillovers -- a serious issue since few public goods are purely local by nature. On the revenue side, few tax bases can be exploited by subnational governments without risking making national objectives difficult to achieve and raising serious distributive concerns. This paper, which is largely based on country experiences in mitigating the potential drawbacks of decentralisation while obtaining ...
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  • 91
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 52 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.355
    Keywords: Economics
    Abstract: In contrast to what has happened throughout the 1960s and 1970s, some of the largest EU countries and Japan are no longer closing the income gap vis-à-vis the United States. Worse, the gap may even be widening since the mid-1990s. While in the case of Japan the gap in GDP per capita is essentially due to the lagging performance in labour productivity, the European Union is trailing mainly in terms of labour resource utilisation, reflecting both lower employment rates and fewer hours worked. This paper provides a brief overview of the main structural factors thought to have contributed to differences in the degree of labour resource utilisation, as well as in the intensity of physical and human capital use and in the pace of technological progress. In doing so, it provides a set of performance and policy indicators which can be used to assess progress achieved in structural reform ...
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  • 92
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 66 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.353
    Keywords: Economics
    Abstract: This paper analyses the major changes in both monetary and fiscal policy that have taken place over the past two decades and, within the limits of the existing empirical research, evaluates the overall costs and benefits for the OECD economies. The general findings for monetary policy are that, while it was costly to lower inflation (in terms of output and employment), there are also benefits in terms of lower risk premiums on interest rates, a more favourable investment climate and an improvement in economic efficiency. That said, the paper concludes that there is not much of a case for lowering inflation further from its already low level. While inflation was being lowered, in a number of cases central banks were also undergoing rather significant changes to their institutional structures and policy-making frameworks. There is some limited evidence that these changes have helped in terms of better anchoring inflation expectations. At the same time there is no firm answer on how ...
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  • 93
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 47 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.349
    Keywords: Economics ; Portugal
    Abstract: Over the past decade, Portugal has experienced imbalances and inefficiencies in the public sector that have impeded better economic performance. Though Portugal’s total spending as a proportion of GDP is somewhat below the EU average, the rapid and uncontrolled growth of its primary current spending to a level now above the OECD and EU average, is worrying, because it puts at risks long-term fiscal sustainability. This paper points to major shortcomings in the budget management process and in the planning and control of public spending. The paper acknowledges recent action taken by public authorities to address some of the shortcomings and makes recommendations for moving further ahead. It suggests policy options that can make public expenditure more efficient and effective at overall levels. Administrative control, the cost-effectiveness of service provision, and incentives for efficient resource allocation all need to be improved. Ongoing efforts to develop accruals-based ...
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  • 94
    Language: English
    Pages: 19 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.373
    Keywords: Economics ; European Union
    Abstract: Evaluating the importance of non-tariff measures (NTMs) affecting imports remains a major challenge. This study reports evidence on the prevalence of NTMs based on an inventory of business complaints. This data source has the advantage of drawing on experiences of economic agents that are directly involved in trading activities, of containing information on "behind the border measures", and of covering procedural aspects of NTMs. The results suggest that natural resource based industries, such as agriculture and food, mining, and textiles, are most strongly affected by NTMs relative to their export volumes. Certification procedures, quantity control measures, and technical regulations are the types of NTM most frequently complained about. Complaints about domestic governance practices, such as impediments related to government procurement, investment restrictions, or insufficient intellectual property rights protection account for almost a third of all NTM observations and are in ...
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  • 95
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    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 66 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.347
    Keywords: Economics
    Abstract: In this paper, we relate the scope and depth of regulatory reforms to growth outcomes in OECD countries. By means of a new set of quantitative indicators of regulation, we show that the cross-country variation of regulatory settings has increased in recent years, despite extensive liberalisation and privatisation in the OECD area. We then look at the regulation-growth linkage using data that cover a large set of manufacturing and service industries over the past two decades. We focus on multifactor productivity (MFP), which plays a crucial role in GDP growth and accounts for a significant share of its cross-country variance. We find evidence that reforms promoting private governance and competition (where these are viable) tend to boost productivity. Both privatisation and entry liberalisation are estimated to have a positive impact on productivity. In manufacturing the gains are greater the further a given country is from the technology leader, suggesting that regulation limiting ...
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  • 96
    Language: English
    Pages: 64 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.367
    Keywords: Economics
    Abstract: This paper documents some features of recent trends in bond yields and discusses the drivers of these trends. This includes a discussion of the relationship between fiscal balances and interest rates -- with a summary of key empirical results from the literature provided in the Appendix. The main points to emerge from this analysis are as follows. First, cyclical and portfolio-allocation factors seem to have been the main driving forces behind the decline in long-term real interest rates over 2000-2003. However, in some European countries, declining (inflation, exchange-rate, and sovereign) risk premia suggest that the equilibrium real interest rate may now be somewhat lower. Second, the weight of recent evidence suggests a causal relationship from fiscal positions to long-term interest rates, at least for the United States. Thus, the actual and projected deterioration in US fiscal positions might have contributed to the recent rise in bond yields, although part of the ...
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  • 97
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 43 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.377
    Keywords: Economics ; Korea, Republic of
    Abstract: Although Korea has the second-lowest level of public spending among OECD countries at 22½ per cent of GDP, it faces strong upward spending pressures over the medium and longer term, which could threaten fiscal sustainability. This paper analyses the main features of Korea’s public expenditure system and reviews expenditure trends and the main forces behind them. The objective is to identify the major shortcomings in budget planning, management and control systems that have impeded better public sector performance. The paper concludes by proposing policy measures to enhance the effectiveness, efficiency and transparency of the public expenditure management system. These include managing public finance within a medium-term expenditure framework; making the budgetary system more comprehensive and transparent by consolidating special accounts and public funds and bringing extra-budgetary funds into the budget; introducing more flexible and results-focused public management to improve ...
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  • 98
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 29 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.360
    Keywords: Economics ; Iceland
    Abstract: This paper analyses the main features of Iceland’s public expenditure and addresses some key policy issues. While overall public spending is not high compared with Iceland’s Nordic neighbours, other OECD countries have made more progress in reining it in. Budget consolidation efforts and public-sector reforms temporarily reversed the upward trend in the government expenditure-to-GDP in the 1990s, but since then the ratio has edged up again. This highlights the need for enhancing spending control through further reforms. Indeed, although the expenditure management system has undergone significant changes over the past ten years or so, much remains to be done to increase budgetary discipline and improve the system’s ability to contain social-spending pressures, which will intensify as the population ages. In particular, weaknesses that need to be addressed would seem to relate to the budget process and the lack of a medium-term expenditure policy, along with insufficient performance ...
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  • 99
    Language: English
    Pages: 127 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.359
    Keywords: Economics
    Abstract: This paper assesses the importance of border and non-border policies for global economic integration. The focus is on four widely-advocated policies: removing explicit restrictions to trade and FDI; promoting domestic competition; improving the adaptability of labour markets; and ensuring adequate levels of infrastructure capital. The analysis covers FDI and trade in both goods and services, thus aiming to account for the most important channels of globalisation and dealing with most modes of cross-border services supply. It first describes trends in trade, FDI and the four sets of policies using a large set of structural policy indicators recently constructed by the OECD, including the new summary indicators for FDI-specific regulations described in Golub (2003). It then estimates the impact of policies on bilateral trade and bilateral and multilateral FDI. The results highlight that, despite extensive liberalisation over the past two decades, there is scope for further reducing ...
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  • 100
    Online Resource
    Online Resource
    Paris : OECD Publishing
    Language: English
    Pages: 39 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.366
    Keywords: Economics ; Germany
    Abstract: While the German federal fiscal system has been successful in promoting a high standard of living even in regions whose economic capacity is low, tensions have emerged. Firstly, it has been difficult to ensure a sustainable fiscal policy, and the size of the overall deficit makes it difficult for the automatic stabilisers to operate freely. Second, overlapping responsibilities between governments and the financing of public spending programmes via inter-governmental transfers provide individual governments with little incentives to contain costs and demand. Thirdly, social spending often discourages a higher utilisation of labour. Furthermore, public expenditure is going to have to cope with increasing pressure due to the substantial deterioration of the old-age dependency ratio projected for the next years and decades and the continuing fiscal burden associated with reunification. Hence, continuing the process of fiscal consolidation and improving the quality of government ...
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