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  • Duval, Romain  (23)
  • Wise, Michael
  • Paris : OECD Publishing  (38)
  • Economics  (37)
  • Finland  (2)
  • 1
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    Towards global carbon pricing : Direct and indirect linking of carbon markets (2014)
    Paris : OECD Publishing
    In:  OECD Journal: Economic Studies Vol. 2013, no. 1, p. 209-234 | volume:2013 | year:2013 | number:1 | pages:209-234
    Details
    Language: English
    Pages: 1 Online-Ressource (26 p.) , 21 x 28cm.
    Titel der Quelle: OECD Journal: Economic Studies
    Angaben zur Quelle: Vol. 2013, no. 1, p. 209-234
    Angaben zur Quelle: volume:2013
    Angaben zur Quelle: year:2013
    Angaben zur Quelle: number:1
    Angaben zur Quelle: pages:209-234
    Keywords: Economics
    Abstract: Emissions trading systems (ETS) can play a major role in a cost-effective climate policy framework. Both direct linking of ETSs and indirect linking through a common crediting mechanism can reduce costs of action.We use a global recursive-dynamic computable general equilibrium model to assess the effects of direct and indirect linking of ETS systems across world regions. Linking of domestic Annex I ETSs leads to moderate aggregate cost savings, as differences in domestic permit prices are limited. Countries benefit directly from linking by either buying permits and avoiding investing in highcost mitigation options, or by exploiting relatively cheap mitigation options and selling permits at a higher price. Although the economy of the main permit sellers, such as Russia, is negatively affected by the real exchange rate appreciation that is induced by the large export of permits, on balance they also still benefit from linking. The costsaving potential for developed countries of well-functioning crediting mechanisms appears to be very large. Even limited use of credits would nearly halve mitigation costs; cost savings would be largest for carbon-intensive economies. However, one open issue iswhether these gains can be fully reaped in reality, given that direct linking and the use of crediting mechanisms both raise complex system design and implementation issues. The analysis in this paper shows, however, that the potential gains to be reaped are so large, that substantial efforts in this domain are warranted. JEL classification: H23, O41, Q54 Keywords: Climate mitigation policy, emissions trading systems, general equilibrium models, linking carbon markets
    DOI: 10.1787/eco_studies-2013-5k421kk9j3vb
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  • 2
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    Raising Potential Growth After the Crisis : A Quantitative Assessment of the Potential Gains from Various Structural Reforms in the OECD Area and Beyond (2011)
    Paris : OECD Publishing
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    Language: English
    Pages: 36 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.835
    Keywords: Economics
    Abstract: This paper provides an illustrative assessment of the impacts on potential GDP over a 5 to 10-year horizon of structural reform scenarios in the areas of product and labour markets, relying on existing OECD empirical studies. Results of simulations suggest that a gradual alignment of product market regulations to best practice in a broad range of non-manufacturing sectors could boost aggregate labour productivity levels by several per cent over the next decade in many OECD countries, and by over five per cent across most of continental Europe, as well as for the BRIICS. Relaxation of job protection legislation could also raise productivity growth for a while in many OECD and non-OECD G20 countries, although the effects are estimated to be smaller than those from product market reforms. In a scenario under which they would be phased in relatively quickly, labour market reforms in the areas of unemployment benefit systems, activation policies, labour taxes and pension systems could raise employment rates by several percentage points in a number of OECD countries over a 10-year horizon. Large continental European countries would have the largest benefits to reap from reforms. The overall potential GDP gain for the average OECD country from undertaking the full range of reforms considered here might come close to 10% at a 10-year horizon, indicating the presence of ample room for structural reforms to offset the permanent GDP losses from the recent crisis.
    DOI: 10.1787/5kgk9qj18s8n-en
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  • 3
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    Is there a Case for Carbon-Based Border Tax Adjustment? : An Applied General Equilibrium Analysis (2010)
    Paris : OECD Publishing
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    Language: English
    Pages: 25 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.794
    Keywords: Economics
    Abstract: Concern that unilateral greenhouse gas emission reductions could foster carbon leakage and undermine the international competitiveness of domestic industry has led to growing calls for carbon-based border-tax adjustments (BTAs). This paper uses a global general equilibrium model to assess the economic effects of BTAs and comes to three main conclusions. First, BTAs can reduce carbon leakage if the coalition of countries taking action to reduce emissions is small, because in this case leakage (while typically small) mainly occurs through international trade competitiveness losses rather than through declines in world fossil fuel prices that trigger rising carbon intensities outside the region taking action. Second, the welfare impacts of BTAs are small, and typically slightly negative at the world level. Third, and perhaps more strikingly, BTAs do not necessarily curb the output losses incurred by the domestic energy intensive-industries (EIIs) they are intended to protect in the first place. This is in part because taken as a whole, EIIs in industrialised countries make important use of carbon-intensive intermediate inputs produced by EIIs in other geographical areas. Another, deeper explanation is that EIIs are ultimately more adversely affected by carbon pricing itself, and the associated contraction in market size, than by any international competitiveness losses. These findings are shown to be robust to key model parameters, country coverage and design features of BTAs.
    DOI: 10.1787/5kmbjhcqqk0r-en
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  • 4
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    Long-Run GDP Growth Framework and Scenarios for the World Economy (2009)
    Paris : OECD Publishing
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    Language: English
    Pages: 30 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.663
    Keywords: Economics
    Abstract: This paper develops and applies a simple “conditional growth” framework to make long-term GDP projections for the world economy, taking as a starting point recent empirical evidence about the importance of total factor productivity and human capital in explaining current cross-country disparities in GDP per capita levels. Other distinct features of the projection framework include human capital projections by cohorts and implicit allowance for the impact of ageing and potential labour market and pension reforms on future growth in employment levels. In the baseline projection, world GDP would grow in PPP terms by about 3 ¾ % per year on average over the period 2005-2050. When expressed in constant market exchange rates, taking into account future Balassa-Samuelson effects, this projection falls roughly in the middle of the range of long-run scenarios recently developed in the context of greenhouse gas emission projections. The sensitivity of the projection to total factor productivity and population growth assumptions is significant, however, and compounds with deeper sources of uncertainty such as model and parameter uncertainty.
    DOI: 10.1787/227205684023
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  • 5
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    The Role of R&D and Technology Diffusion in Climate Change Mitigation : New Perspectives Using the WITCH Model (2009)
    Paris : OECD Publishing
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    Language: English
    Pages: 54 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.664
    Keywords: Economics
    Abstract: This paper uses the WITCH model, a computable general equilibrium model with endogenous technological change, to explore the impact of various climate policies on energy technology choices and the costs of stabilising greenhouse gas concentrations. Current and future expected carbon prices appear to have powerful effects on R&D spending and clean technology diffusion. Their impact on stabilisation costs depends on the nature of R&D: R&D targeted at incremental energy efficiency improvements has only limited effects, but R&D focused on the emergence of major new low-carbon technologies could lower costs drastically if successful – especially in the non-electricity sector, where such low-carbon options are scarce today. With emissions coming from multiple sources, keeping a wide range of options available matters more for stabilisation costs than improving specific technologies. Due to international knowledge spillovers, stabilisation costs could be further reduced through a complementary, global R&D policy. However, a strong price signal is always required.
    DOI: 10.1787/227114657270
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  • 6
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    The Incentives to Participate in and the Stability of International Climate Coalitions : A Game-Theoretic Approach Using the WITCH Model (2009)
    Paris : OECD Publishing
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    Language: English
    Pages: 74 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.702
    Keywords: Economics
    Abstract: This paper uses WITCH, an integrated assessment model with a game-theoretic structure, to explore the prospects for, and the stability of broad coalitions to achieve ambitious climate change mitigation action. Only coalitions including all large emitting regions are found to be technically able to meet a concentration stabilisation target below 550 ppm CO2eq by 2100. Once the free-riding incentives of non-participants are taken into account, only a “grand coalition” including virtually all regions can be successful. This grand coalition is profitable as a whole, implying that all countries can gain from participation provided appropriate transfers are made across them. However, neither the grand coalition nor smaller but still environmentally significant coalitions appear to be stable. This is because the collective welfare surplus from cooperation is not found to be large enough for transfers to offset the free-riding incentives of all countries simultaneously. Some factors omitted from the analysis, which might improve coalition stability, include the co-benefits from mitigation action, the costless removal of fossil fuel subsidies, as well as alternative assumptions regarding countries’ bargaining behaviour.
    DOI: 10.1787/223552487415
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  • 7
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    The Economics of Climate Change Mitigation : How to Build the Necessary Global Action in a Cost-Effective Manner (2009)
    Paris : OECD Publishing
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    Language: English
    Pages: 128 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.701
    Keywords: Economics
    Abstract: This paper examines the cost of a range of national, regional and global mitigation policies and the corresponding incentives for countries to participate in ambitious international mitigation actions. The paper illustrates the scope for available instruments to strengthen these incentives and discusses ways to overcome barriers to the development of an international carbon price, based on the quantitative assessment from two global and sectorially-disaggregated CGE models. Key step towards the emergence of a single international carbon price will most likely involve the phasing out of subsidies of fossil fuel consumption and various forms of linking between regional carbon markets, ranging from direct linking of existing emission trading systems to more indirect forms through the use of sectoral crediting mechanisms. The paper discusses regulatory issues raised by the expansion of emission trading and crediting schemes as well as the complementary contribution of non-market based instruments such as the imposition of technical standards and R&D policies. Finally, the paper emphasises the important role of international transfers, not least to overcome the relatively strong economic incentives in some countries to free ride on other regions mitigation actions. While they can take various explicit or implicit forms, transfers made primarily through market mechanisms, for instance via the allocation of binding emission reduction commitments across countries, would be most cost-effective.
    DOI: 10.1787/224074334782
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  • 8
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    The Economics of Climate Change Mitigation : Policies and Options for the Future (2008)
    Paris : OECD Publishing
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    Language: English
    Pages: 129 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.658
    Keywords: Economics
    Abstract: Considering the costs and risks of inaction, ambitious action to reduce greenhouse gas emissions is economically rational. However, success in abating world emissions will ultimately require a least-cost set of policy instruments that is applied as widely as possible across all emission sources (countries, sectors and greenhouse gases). The main purpose of this paper is to explore feasible ways to meet these two basic requirements for successful future climate policies. Using a range of modelling frameworks, it analyses cost-effective policy mixes to reduce emissions, the implications of incomplete coverage of policies for the costs of mitigation action and carbon leakage, the role of technology-support policies in lowering future emissions and policy costs, as well as the incentives –and possible options to enhance them – for emitting countries to take action against climate change.
    DOI: 10.1787/228868001868
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  • 9
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    Oil Price Shocks, Rigidities and the Conduct of Monetary Policy : Some Lessons from a New Keynesian Perspective (2008)
    Paris : OECD Publishing
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    Language: English
    Pages: 41 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.603
    Keywords: Economics
    Abstract: The strong and sustained rise in oil prices observed in recent years poses a challenge to monetary policy and its ability to simultaneously achieve low inflation and stable output. Against this background, the paper studies monetary policy in a small open economy New Keynesian DSGE model including oil as a production input and a component of final demand. It investigates the performance of alternative price level definitions, notably headline and core CPI, in standard interest rate rules with respect to output and inflation stabilisation. The analysis puts special emphasis on the impact of price and real wage rigidity and their interaction on the policy trade-off induced by the oil price shock. While the degree of price rigidity alone is found to have little impact on the shock transmission and generates only small differences between alternative monetary strategies, the simulations suggest a more important role for real wage stickiness. Real wage stickiness triggers second round effects and complicates stabilisation whatever the policy rule. A focus on core inflation tends to limit the contraction of output in this context. The results also point to some interaction between nominal price and real wage rigidities. In the presence of real wage rigidity, greater price flexibility is found to be destabilising, as it amplifies the initial inflation effect of shocks, thereby triggering a stronger monetary policy response and a larger output effect.
    DOI: 10.1787/242188534400
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  • 10
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    A Taxonomy of Instruments to Reduce Greenhouse Gas Emissions and their Interactions (2008)
    Paris : OECD Publishing
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    Language: English
    Pages: 42 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.636
    Keywords: Economics
    Abstract: This paper reviews alternative (national and international) climate change mitigation policy instruments and interactions across them. Carbon taxes, cap-and-trade schemes, standards and technology-support policies (R&D and clean technology deployment) in particular are assessed according to three broad costeffectiveness criteria, their: i) static efficiency, defined to cover not just whether the instrument is costeffective per se but also whether it provides sufficient political incentives for wide adoption; ii) dynamic efficiency, which implies an efficient level of innovation and diffusion of clean technologies in order to lower future abatement costs; iii) ability to cope effectively with climate and economic uncertainties. Multiple market failures and political economy obstacles need to be addressed in order to meet these criteria. In this regard, carbon taxes or cap-and-trade schemes appear to perform better than alternatives. However, their cost-effectivenes can be enhanced through targeted use of other instruments. There is therefore room for climate policy packages.
    DOI: 10.1787/236846121450
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  • 11
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    Résilience économique aux chocs : Le rôle des politiques structurelles (2008)
    Paris : OECD Publishing
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    Language: French
    Pages: 1 Online-Ressource (41 p.)
    Parallel Title: Parallele Sprachausgabe Economic resilience to shocks: The role of structural policies
    Keywords: Economics
    Abstract: Bien que les fluctuations cycliques de l’activité se soient atténuées au cours des années récentes, leur ampleur et leur évolution continuent de différer sensiblement entre pays de l’OCDE. L’une des explications à cette hétérogénéité est que les pays affichent différents degrés de résilience à des chocs communs. Cet article explore la contribution des politiques et des institutions sur les marchés financiers, du travail et des biens et services à ces écarts de résilience. À partir de régressions sur un panel de 20 pays de l’OCDE portant sur la période 1982-2003, l’article identifie l’impact des politiques sur deux dimensions de la résilience : l’effet d’un choc à l’impact et sa persistance ultérieure. Il ressort que les politiques et les institutions entraînant des rigidités sur les marchés du travail et des biens et services atténuent l’impact initial d’un choc mais rendent cet effet plus persistant, tandis que des politiques favorisant le développement des marchés hypothécaires réduisent la persistance et ainsi améliorent la résilience. Combinant ces deux dimensions de la résilience, l’article utilise ensuite les équations estimées pour construire des indicateurs de résilience pour chacun des pays de l’OCDE concernés, sur la base de leurs politiques et de leurs institutions actuelles ou récentes. Cette analyse fait ressortir trois groupes de pays. Dans les pays anglophones, les simulations suggèrent que les chocs ont un impact initial significatif, mais que celui-ci se dissipe assez rapidement. A contrario, dans de nombreux pays d’Europe Continentale, l’impact initial des chocs est atténué, mais leurs effets se font ressentir plus longtemps et la perte de production cumulée tend à être plus élevée que dans les pays anglophones. Enfin, quelques petits pays Européens combinent à la fois un impact modéré des chocs et un retour relativement rapide à l’équilibre.
    DOI: 10.1787/9789264053656-6-fr
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  • 12
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    Economic resilience to shocks : The role of structural policies (2008)
    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2008, no. 1, p. 1-38
    Details
    ISSN: 1995-2856
    Language: English
    Pages: 38 p
    Parallel Title: Parallelausg. Résilience économique aux chocs : Le rôle des politiques structurelles
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2008, no. 1, p. 1-38
    Keywords: Economics
    Abstract: Cyclical fluctuations in economic activity have moderated over time but the extent and dynamics of volatility remain different across OECD countries. A reason behind this heterogeneity is that countries exhibit different degrees of resilience in the face of common shocks. This paper traces divergences in resilience back to different policy settings and institutions in labour, product and financial markets. Using pooled regression analysis across 20 OECD countries over the period 1982-2003, the paper identifies the impact of policy settings on two dimensions of resilience: the impact effect of a shock and its subsequent persistence. Policies and institutions associated with rigidities in labour and product markets are found to dampen the initial impact of shocks but to make their effects more persistent, while policies allowing for deep mortgage markets lower persistence and thereby improve resilience. Combining these two dimensions of resilience, the paper then uses the estimated equations to derive indicators of resilience for the OECD countries concerned, based on their current or recent policy settings. Three groups of countries emerge. In English-speaking countries, simulations suggest shocks have a significant initial effect on activity but this impact then dies out relatively quickly. By contrast, in many continental European countries the initial impact of shocks is cushioned but their effect linger for longer, with the cumulated output loss tending to be larger than in English-speaking countries. Finally a few, mostly small, European countries combine cushioning of the initial shock with a fairly quick return to baseline.
    DOI: 10.1787/eco_studies-v2008-art6-en
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  • 13
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    Product Market Competition in the OECD Countries : Taking Stock and Moving Forward (2007)
    Paris : OECD Publishing
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    Language: English
    Pages: 78 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.575
    Keywords: Economics
    Abstract: Based on 18 country reviews performed over the 2003-2005 period, this paper examines, the cross-country differences in policy approaches to product market competition and their consequences for product market rents. Against this background, the paper summarises OECD recommendations to further strengthen competition in various sectors and areas. These include: removing remaining barriers to trade and inward foreign direct investments; better securing deterrence of cartels through effective sanctions; facilitate market access to inherently competitive industries by easing zoning laws (the retail sector), abolishing reserved monopolies (sales of tobacco and alcohol), limiting the scope of trade associations’ self-regulation and easing residency or nationality requirements (professional services); meet competition challenges in network industries by facilitating the effective separation of monopoly components from competitive activities, reducing public ownership, clearly separating the government’s ownership and regulatory functions and creating the right incentives for investing in infrastructures.
    DOI: 10.1787/108734233645
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  • 14
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    Les déterminants du chômage dans les pays de l'OCDE : Une réévaluation du rôle des politiques et des institutions (2007)
    Paris : OECD Publishing
    In:  Revue économique de l'OCDE Vol. 2006, no. 1, p. 7-96
    Details
    ISSN: 1684-3444
    Language: French
    Pages: 99 p
    Parallel Title: Parallelausg. The determinants of unemployment across OECD countries: Reassessing the role of policies and institutions
    Titel der Quelle: Revue économique de l'OCDE
    Publ. der Quelle: Paris : OCDE, 1998
    Angaben zur Quelle: Vol. 2006, no. 1, p. 7-96
    Keywords: Economics
    Abstract: Andrea Bassanini et Romain Duval sont deux économistes qui travaillent respectivement à la Direction de l’emploi, du travail et des affaires sociales et au Département des affaires économiques de l’OCDE. Catherine Chapuis-Grabiner, Sébastien Martin et Rebecca Oyomopito leur ont apporté un concours remarquable en matière de recherches. Nous tenons également à remercier chaleureusement pour leurs commentaires Sveinbjorn Blöndal, Wendy Carlin, Jean-Philippe Cotis, Martine Durand, Jørgen Elmeskov, Michael P. Feiner, David Howell, Etienne Lehmann, Edmond Malinvaud, John P. Martin, Giuseppe Nicoletti, Stefano Scarpetta, Paul Swaim, Raymond Torres ainsi que les participants à la réunion conjointe du groupe de travail n° 1 chargé de l’analyse des politiques macroéconomiques et structurelles (Comité de politique économique) et du groupe de travail n° 5 sur l’emploi (Comité de l’emploi, du travail et des affaires sociales) qui s’est tenue à Paris, en janvier 2006, et du séminaire Fourgeaud (Paris, mai 2006). La responsabilité d’éventuelles erreurs incombe aux seuls auteurs. Les points de vue exprimés dans ce document sont ceux des auteurs ; ils ne reflètent pas nécessairement les points de vue de l’OCDE ou des pays membres de l’Organisation.
    DOI: 10.1787/eco_studies-v2006-art2-fr
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  • 15
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    Structural Policies and Economic Resilience to Shocks (2007)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 53 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.567
    Keywords: Economics
    Abstract: Cyclical fluctuations in economic activity have moderated over time but the extent and dynamics of volatility remain different across OECD countries. A reason behind this heterogeneity is that countries exhibit different degrees of resilience in the face of common shocks. This paper traces divergences in resilience back to different policy settings and institutions in labour, product and financial markets. Using pooled regression analysis across 20 OECD countries over the period 1982-2003, the paper identifies the impact of policy settings on two dimensions of resilience: the impact effect of a shock and its subsequent persistence. Policies and institutions associated with rigidities in labour and product markets are found to dampen the initial impact of shocks but to make their effects more persistent, while policies allowing for deep mortgage markets lower persistence and thereby improve resilience. Combining these two dimensions of resilience, the paper then uses the estimated equations to derive indicators of resilience for the OECD countries concerned, based on their current or recent policy settings. Three groups of countries emerge. In English-speaking countries, simulations suggest shocks have a significant initial effect on activity but this impact then dies out relatively quickly. By contrast, in many continental European countries the initial impact of shocks is cushioned but their effect linger for longer, with the cumulated output loss tending to be larger than in English-speaking countries. Finally a few, mostly small, European countries combine cushioning of the initial shock with a fairly quick return to baseline.
    DOI: 10.1787/140152385131
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  • 16
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    The determinants of unemployment across OECD countries : Reassessing the role of policies and institutions (2007)
    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2006, no. 1, p. 7-86
    Details
    ISSN: 1995-2856
    Language: English
    Pages: 89 p
    Parallel Title: Parallelausg. Les déterminants du chômage dans les pays de l'OCDE : Une réévaluation du rôle des politiques et des institutions
    Titel der Quelle: OECD journal: economic studies
    Publ. der Quelle: Paris : Organisation for Economic Cooperation & Development, 2008
    Angaben zur Quelle: Vol. 2006, no. 1, p. 7-86
    Keywords: Economics
    Abstract: Andrea Bassanini and Romain Duval are economists at the Directorate for Employment, Labour and Social Affairs and the OECD Economics Department, respectively. Catherine Chapuis-Grabiner, Sébastien Martin and Rebecca Oyomopito provided excellent research assistance. Comments from Sveinbjorn Blöndal, Wendy Carlin, Jean-Philippe Cotis, Martine Durand, Jorgen Elmeskov, Michael P. Feiner, David Howell, Etienne Lehmann, Edmond Malinvaud, John P. Martin, Giuseppe Nicoletti, Stefano Scarpetta, Paul Swaim, Raymond Torres and participants to the joint WP1/WP5 EPC-ELSAC meeting in Paris, January 2006, and the Séminaire Fourgeaud, Paris, May 2006, are also gratefully acknowledged. Any errors are the responsibilities of the authors alone. The views expressed in this paper are those of the authors, and do not necessarily reflect those of the OECD or of its member countries.
    DOI: 10.1787/eco_studies-v2006-art2-en
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  • 17
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    Employment Patterns in OECD Countries : Reassessing the Role of Policies and Institutions (2006)
    Paris : OECD Publishing
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    Language: English
    Pages: 127 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.486
    Keywords: Economics
    Abstract: This paper explores the impact of policies and institutions on employment and unemployment of OECD countries in the past decades. Reduced-form unemployment equations, consistent with standard wage setting/price-setting models, are estimated using cross-country/time-series data from 21 OECD countries over the period 1982-2003. In the "average" OECD country, high and long-lasting unemployment benefits, high tax wedges and stringent anti- competitive product market regulation are found to increase aggregate unemployment. By contrast, highly centralised and/or coordinated wage bargaining systems are estimated to reduce unemployment. These findings are robust across specifications, datasets and econometric methods. As policies and institutions affect employment not only via their impact on aggregate unemployment but also through their effects on labour market participation - particularly for those groups "at the margin" of the labour market, group-specific employment rate equations are also estimated. In the "average" OECD country, high unemployment benefits and high tax wedges are found to be associated with lower employment prospects for all groups studied, namely prime-age males, females, older workers and youths. There is also evidence that group-specific policy determinants matter, such as targeted fiscal incentives. The paper also finds significant evidence of interactions across policies and institutions, as well as between institutions and macroeconomic conditions. Consistent with theory, structural reforms appear to have mutually reinforcing effects: the impact of a given policy reform is greater the more employment-friendly the overall policy and institutional framework. Certain more specific interactions across policies and institutions are found to be particularly robust, notably between unemployment benefits and public spending on active labour market programmes as well as between statutory minimum wages and the tax wedge. Finally, it is shown that macroeconomic conditions also matter for unemployment patterns, with their impact being shaped by policies.
    DOI: 10.1787/846627332717
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  • 18
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    Product Market Competition and Economic Performance in France (2006)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 52 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.473
    Parallel Title: Parallelausg. Concurrence sur les marchés de produits et performance économique en France
    Keywords: Economics ; France
    Abstract: Over the past decade, French economic growth has been insufficient to bring down high and persistent unemployment. Available cross-country evidence suggests that enhancing competition is an important means to improve economic performance. France is catching up with best practice in competition policy reform. However, other policy considerations often hamper the emergence of effective competition. Relatively weak competitive pressures remain in a number of sectors, particularly in sheltered service industries. Restrictions on competition reduce productivity growth and hinder job creation in regulated sectors. Policy must focus on giving more weight to overall consumer welfare in the face of opposition from relatively small but vocal special interest groups. This paper discusses reforms that would increase competition by: i) strengthening institutions and better clarifying their responsibilities with respect to competition enforcement; ii) reinforcing the ability of sector regulators to improve non-discriminatory third-party access and other aspects of competition in the network industries; iii) abolishing overly prescriptive regulation in the retail sector; and iv) removing unnecessary protection in some professional services. This Working Paper relates to the 2005 OECD Economic Survey of France (www.oecd.org/eco/surveys/france).
    DOI: 10.1787/285535265617
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    Concurrence sur les marchés de produits et performance économique en France (2006)
    Paris : OECD Publishing
    Details
    Language: French
    Pages: 56 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.473
    Parallel Title: Parallelausg. Product Market Competition and Economic Performance in France
    Keywords: Economics ; France
    Abstract: La croissance économique française sur la dernière décade s'est avérée insuffisante pour résorber un taux de chômage élevé et persistant. Les études et comparaisons internationales disponibles suggèrent qu'un renforcement du degré de concurrence permettrait d'améliorer significativement la performance économique. La France n’est plus loin de la meilleure pratique pour ce qui est de la réforme de la politique de la concurrence. Pourtant, d’autres considérations de politique économique font souvent obstacle à l’émergence d’une véritable concurrence. Des pressions concurrentielles relativement faibles prévalent dans plusieurs secteurs, notamment les secteurs de services abrités. Les restrictions à la concurrence réduisent la croissance de la production et freinent la création d’emplois dans les secteurs réglementés. L’action des pouvoirs publics doit pondérer davantage le bien-être global des consommateurs face à l’opposition des groupes d’intérêt spéciaux de taille relativement restreinte mais très actifs. Le présent chapitre passe en revue les réformes qui renforceraient la concurrence en : i) consolidant les institutions et en clarifiant mieux les responsabilités de la mise en œuvre de la concurrence ; ii) donnant aux autorités sectorielles de réglementation une plus grande compétence pour l’amélioration de l’accès non discriminatoire des tiers et d’autres aspects de la concurrence dans les industries de réseau ; iii) abolissant les réglementations trop contraignantes dans le secteur de la distribution ; et iv) supprimant la protection inutile dans certains services professionnels. Ce Document de travail se rapporte à l'Étude économique de l'OCDE de la France 2005 (www.oecd.org/eco/etudes/france).
    DOI: 10.1787/278718121346
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    Boosting Competition in Ireland (2006)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 25 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.491
    Keywords: Economics ; Ireland
    Abstract: While Ireland’s economic performance has been impressive, there are too many sectors where producers are shielded from competition, at the expense of consumers. The loss in efficiency from these policies will become more noticeable as Ireland’s growth rate settles down towards more normal levels. International evidence suggests that enhancing competition is an important means for lowering prices and boosting productivity and innovation. This paper reviews the main areas for reform, including retail trade, pharmacies, professional services such as legal and medical services, and various network industries including electricity, telecommunications and inter-city buses. It also appraises the structure and enforcement of competition law.
    DOI: 10.1787/741520025080
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    Product Market Competition and Economic Performance in Australia (2005)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 81 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.451
    Keywords: Economics ; Australia
    Abstract: The OECD Growth Study and other empirical work have shown that the strength of competition in product markets plays an important role in the economic growth process as well as contributing to a more efficient allocation of resources in a static sense. More intense competition is likely to encourage stronger efforts of managers to improve efficiency and induce higher innovative activity, leading to higher multi-factor productivity. This paper begins with a short review of Australia’s growth performance since the early 1990s and its possible link to strengthened competitive pressures and their interaction with other economic reforms. Attention is then turned to indicators of product market competition to gauge the strength of competitive pressures. This is followed by an assessment of the general competition policy framework and its role in promoting competition. The next section presents the framework of the National Competition Policy and reviews the completeness of the reform programme and the areas requiring further action. The paper then examines a number of sectors where regulatory policies can be expected to have particularly large impacts. The implications of trade liberalisation on Australia’s economic performance and the scope for further improvements are also discussed in some detail. The paper concludes with a set of policy recommendations. This Working Paper relates to the 2005 OECD Economic Survey of Australia (www.oecd.org/eco/surveys/australia).
    DOI: 10.1787/018570574720
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    Product Market Competition and Economic Performance in New Zealand (2005)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 43 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.437
    Keywords: Economics ; New Zealand
    Abstract: The paper examines the current state of competition in a number of sectors that are important for the economy. Because of the country’s small size and isolation, the analysis focuses on barriers to entry, investment and external trade, rather than some standard indicators of competition stance. The competition law and institutions are generally well-conceived, although high-profile litigation about mergers and market-power problems hasstretched their capacities and until recently, diverted attention from enforcement against price fixing. Overall, markets appear to function well in New Zealand, but progress towards liberalisation seems recently to have lost momentum. In particular, improvement could be made in three main areas: in the energy sector, lifting current barriers to investment and developing forward markets are necessary to ensure the economy will be able to cope with long-term challenges; in telecommunications markets, concerns have been mounting regarding high prices and slow deployment of broadband; and in the public sector, there is scope for further use of private delivery for public services and reducing state ownership, especially in potentially competitive markets. Some adjustments to the regulatory framework and policies in a number of other sectors would also be beneficial. This Working Paper relates to the 2005 OECD Economic Survey of New Zealand (www.oecd.org/eco/surveys/nz).
    DOI: 10.1787/838318004758
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  • 23
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    The Effects of EMU on Structural Reforms in Labour and Product Markets (2005)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 44 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.438
    Keywords: Economics ; Euro Area
    Abstract: Structural reforms in labour and product markets are required in a number of euro-area countries. A question in this regard, which is the topic of this paper, is whether belonging to the euro area tends to help or hinder structural reform. The paper first reviews the theoretical arguments and the existing empirical literature – in both cases finding conclusions that point in opposite directions. Next, the paper uses an OECD database on labour market reform developed recently and an update of OECD indicators of product market regulation to compare progress in labour and product market reform over the decade since 1993 between euro-area countries and other OECD countries. Overall, euro-area countries appear to have made relatively good progress in structural reform but it is much less clear from the descriptive evidence whether progress can be ascribed to membership of Economic and Monetary Union. To explore further the role of monetary regime for structural reform, the paper undertakes an econometric examination of the likelihood that countries undertake reform in five specific areas of labour and product market policies. Based on pooled cross-country/time series Probit regressions covering 21 countries and the period 1985-2003, it is found that structural reform is strengthened by high unemployment, crisis as reflected in a large output gap, healthy public finances, reforms in other policy fields and small country size. Further, countries that pursue fixed exchange-rate regimes or participate in monetary union, and therefore have little or no monetary autonomy, appear to undertake less structural reform – with the effect possibly being concentrated on large countries.
    DOI: 10.1787/830757326248
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    Product Market Competition and Economic Performance in the Netherlands (2005)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 48 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.422
    Keywords: Economics ; Netherlands
    Abstract: This paper assesses what role product market competition and reforms may have played in the performance of the Dutch economy over the past decade, and discusses what further product market reforms might contribute to enhancing growth. In general, competitive pressures appear to be relatively strong in the Netherlands, particularly in the traded goods sector. Competition in product markets has been strengthened through the creation of a competition authority (NMa) and the Competition, Deregulation and Legislative Quality project (MDW). A planned reduction in the administrative burden will also help to strengthen competition, by reducing barriers to business start-ups and the expansion of small businesses, as well as lowering business costs. However, competitive pressures and productivity growth are weaker in the Dutch services sector. Planning restrictions are inhibiting competition and productivity growth in the retail sector and there is considerable scope to eliminate practices that restrict competition in professional services, even though both are relatively liberalised in the Netherlands. Reforms in electricity, gas and telecoms are recent and market power on the part of incumbent firms remains a concern. Competitive pressures in these industries could be increased by enhancing the powers of the regulators and eliminating barriers to entry.
    DOI: 10.1787/553342376000
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  • 25
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    Competition Law and Policy in Finland (2005)
    Paris : OECD Publishing
    In:  OECD journal: competition law and policy Vol. 6, no. 4, p. 7-67
    Details
    ISSN: 1609-7521
    Language: English
    Pages: 62 p
    Titel der Quelle: OECD journal: competition law and policy
    Publ. der Quelle: Paris : OECD Publ., 1999
    Angaben zur Quelle: Vol. 6, no. 4, p. 7-67
    Keywords: Governance ; Finland
    Abstract: Competition policy was at the centre of market-driven reforms since the late 1980s that restructured Finland’s network monopolies and eliminated the many vestiges of corporatist control. The pace of change is slower now, as the role of market institutions in providing traditional government services presents novel and difficult issues about quality, equity, efficiency, and choice. The role of the competition body, the Finnish Competition Authority (FCA), is also changing. In the previous stages, its principal path of influence, after it made a mark with a strong early enforcement program against tolerated price fixing, was through advice and advocacy. As competitive markets are...
    DOI: 10.1787/clp-v6-art9-en
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    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 (2005)
    Paris : OECD Publishing
    In:  Revue économique de l'OCDE Vol. 2003, no. 2, p. 7-55
    Details
    ISSN: 1684-3444
    Language: French
    Pages: 59 p
    Parallel Title: Parallelausg. Retirement Behaviour in OECD Countries: Impact of Old-Age Pension Schemes and other Social Transfer Programmes
    Titel der Quelle: Revue économique de l'OCDE
    Publ. der Quelle: Paris : OCDE, 1998
    Angaben zur Quelle: Vol. 2003, no. 2, p. 7-55
    Keywords: Economics
    Abstract: Accroître le taux d’activité et l’emploi des travailleurs âgés, notamment en relevant l’âge effectif de départ à la retraite (graphique 1), pourrait rendre plus supportable le vieillissement des populations en freinant la hausse des dépenses liées à l’âge tout en générant dans le même temps des recettes fiscales plus importantes pour les financer . Il a aussi été avancé que le relèvement des taux d’activité des travailleurs âgés améliorerait le bien-être dans nombre de pays de l’OCDE, pour des raisons à la fois théoriques (encadré 1) et empiriques. Bien qu’il..
    DOI: 10.1787/eco_studies-v2003-art8-fr
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    Product Market Competition and Economic Performance in Iceland (2005)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 40 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.426
    Keywords: Economics ; Iceland
    Abstract: This paper discusses the current state of product market competition in Iceland, including the legal and regulatory framework, and suggests directions for further improvement. Given the size of the economy, efficiency considerations dictate high concentration in many markets, and preventing abuse of market dominance is therefore a challenging task. Changes to competition law since the early 1990s have strengthened competitive forces in many sectors of the economy, and proposed amendments to that law would further improve market surveillance. The changes in the regulatory framework for telecommunications have helped vigorous competition to develop in most segments, but there remain problems in pricing of access to the local loop. In the still publicly owned electricity sector, however, competition in generation and sales is so far virtually non-existent despite new legislation. Other policies discussed include agricultural support, policies towards foreign direct investment, and public procurement and provision of publicly funded services.
    DOI: 10.1787/605284451863
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    Assessing the OECD Jobs Strategy : Past Developments and Reforms (2005)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 73 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.429
    Keywords: Economics
    Abstract: In 1994, the OECD published a set of recommendations -- known as the OECD Jobs Strategy -- to deal with high and persistent unemployment that affected many member countries. These recommendations are currently being reassessed by the OECD and this paper contributes to this process. It provides a detailed description of labour market reforms in member countries over the past ten years, together with a short overview of changes in macroeconomic policies and reforms affecting product markets. It attempts to rank countries according with their past reform efforts, using an aggregate reform intensity indicator, and analyses the link, though in a very preliminary way, between reforms and labour market performance. Overall, there is little evidence of a link between initial conditions and subsequent reform efforts, with some countries taking only modest measures despite a poor starting point, while others carrying out ambitious programs even though their initial conditions were already relatively favourable. Over the past decade, member countries have employed very diverse reform strategies, from comprehensive reforms package (Denmark, Finland and the Netherlands) -- as recommended in the initial Jobs Strategy -- to reforms more narrowly targeted on specific fields where deep action was undertaken (France, Italy, the United Kingdom and Ireland). The intensity of reforms has differed markedly across policy fields, with more action being undertaken in areas that are more widely accepted by the population, such as active labour market policies and cuts of labour taxes. Please note that annexes are available on the Economics Department Website at: www.oecd.org/eco/Working_Papers.
    DOI: 10.1787/673876504152
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    Product Market Competition and Economic Performance in the United Kingdom (2005)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 53 p. , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers no.433
    Keywords: Economics ; United Kingdom
    Abstract: This paper assesses what role product market competition and regulatory reforms may have played in the performance of the British economy over the past decade. Competitive pressures appear to be relatively strong in the United Kingdom, with regulations inhibiting competition and barriers to trade amongst the lowest in the OECD. Nevertheless, there is scope for improvement and the recent overhaul of competition legislation should help to further promote competition. Much progress has been made in the professional services sector. Self-regulatory bodies are no longer exempt from competition legislation and professional bodies have undertaken a number of actions towards removing or easing restrictions that inhibit competition. In the retail sector, market power remains a problem and the competition authorities will need to remain vigilant. The government’s recent approach to planning has made new large scale entry very difficult, impeding competition and inhibiting entry. Industry regulators also need to remain vigilant in the electricity, gas and telecommunications sectors. Reforms in these sectors have led to increased productivity, though international comparisons suggest that there is scope for prices to fall. While recent steps by the government overcome the most serious weaknesses of the privatised rail system, continuing problems regarding incentives and responsibilities remain to be resolved.
    DOI: 10.1787/787138221057
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    Product Market Competition and Economic Performance in Korea (2004)
    Paris : OECD Publishing
    Details
    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 ...
    DOI: 10.1787/634035868056
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    Product Market Competition and Economic Performance in Norway (2004)
    Paris : OECD Publishing
    Details
    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 ...
    DOI: 10.1787/610454227534
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    Retirement Behaviour in OECD Countries : Impact of Old-Age Pension Schemes and other Social Transfer Programmes (2004)
    Paris : OECD Publishing
    In:  OECD journal: economic studies Vol. 2003, no. 2, p. 7-50
    Details
    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 ...
    DOI: 10.1787/eco_studies-v2003-art8-en
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    Product Market Competition and Economic Performance in Finland (2004)
    Paris : OECD Publishing
    Details
    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 ...
    DOI: 10.1787/064577425651
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    Product Market Competition and Economic Performance in the United States (2004)
    Paris : OECD Publishing
    Details
    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.
    DOI: 10.1787/334545122257
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    Coping with Ageing : A Dynamic Approach to Quantify the Impact of Alternative Policy Options on Future Labour Supply in OECD Countries (2004)
    Paris : OECD Publishing
    Details
    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 ...
    DOI: 10.1787/224538175006
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    Product Market Competition and Economic Performance in Japan (2004)
    Paris : OECD Publishing
    Details
    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 ...
    DOI: 10.1787/222508788602
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    Policies for an Ageing Society : Recent Measures and Areas for Further Reform (2003)
    Paris : OECD Publishing
    Details
    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 ...
    DOI: 10.1787/737005512385
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    The Retirement Effects of Old-Age Pension and Early Retirement Schemes in OECD Countries (2003)
    Paris : OECD Publishing
    Details
    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 ...
    DOI: 10.1787/308728704511
    URL: Volltext
    URL: lizenzpflichtig
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