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  • Online-Ressource  (235)
  • Paris : OECD, Economics Dep.  (235)
  • Economics  (235)
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  • 1
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (22 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1138
    Schlagwort(e): Hochschule ; Bildungsabschluss ; Bildungsertrag ; Panel ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper proposes and estimates a model of demand for and supply of graduations in tertiary education, which is then used to construct forward-looking scenarios for graduation rates by country. Consistent with evidence that economic returns to education have remained high in spite of rising educational attainment levels, the paper accords a great deal of attention to developments in gross earnings at various levels of the earnings distribution, though other factors are also accounted for. The analysis shows that demand for tertiary graduations increases in per capita incomes, wage differentials between high and medium earners, and PISA scores. Supply of graduations increases in tuitions and (to a lesser extent) government funding, but also in the share of students enrolled in private institutions and PISA scores. Based on the OECD 50-year scenarios for per capita incomes and earning inequalities (Braconier et al., 2014), the estimated model is used to generate future scenarios of demand for tertiary education, pointing to increases between 30 and 60 per cent across OECD countries over the coming 50 years. Such large increases in demand would put pressure on the supply, either requiring substantial additional government spending or a major shift towards tuition funding across OECD countries.
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  • 2
    Sprache: Englisch
    Seiten: Online-Ressource (48 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1187
    Schlagwort(e): Geldpolitik ; Liquidität ; Wechselkurssystem ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The set of monetary policy instruments has expanded since the start of the global financial crisis in the many OECD economies. Against this background, this paper analyses whether some of the new instruments should be retained in the long term when broader financial stability objectives are likely to feature more prominently as monetary policy goals than prior to the crisis. It also assesses if these new instruments should be used during the transition to this situation and when countries are stuck in persistent stagnation. In the post recovery situation, central banks could ultimately revert to targeting short-term market rates with small balance sheets. This might, however, require changes to monetary policy implementation due to new liquidity requirements. The transition to this situation will be lengthy and will require a mixture of liquidity draining instruments. Alternatively, they could adopt a floor system, which may benefit financial stability. The use of unconventional measures as a substitute for policy rate cuts will no longer be needed unless countries remain in persistent stagnation. Nevertheless, in the post-recovery normal, extended collateral and counterparty eligibility could be sustained, and currency swap lines among central banks could be expanded.
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  • 3
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (33 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1190
    Schlagwort(e): Leistungsbilanz ; Wechselkurs ; Wechselkurspolitik ; Wirtschaftliche Anpassung ; Makroökonomik ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Recent episodes of large exchange rate movements, such as for Japan or the United Kingdom, have typically not been associated with large changes in trade balances and despite the polarisation of international investment positions large currency fluctuations during the global crisis of 2008-09 did not cause significant financial dislocations. This paper presents empirical evidence that for a number of OECD countries firms’ increasing participation in global value chains may have contributed to reducing exchange rate pass-through to the terms of trade, which may in turn have contributed to reducing the response of trade balances to exchange rate changes. Further empirical evidence suggests that over the past two decades large net external debtor countries, including emerging market economies, have reduced net aggregate foreign currency exposures, thereby limiting direct financial effects of exchange rate fluctuations through the valuation of external assets and liabilities. However, sizable increases in foreign currency borrowing for a number of emerging market economies in the wake of the global crisis of 2008-09, including by non-financial corporations, suggest that large exchange rate movements may nonetheless cause financial stress for exposed sectors and entities that may percolate through the financial system despite limited aggregate exposures.
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  • 4
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (28 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1192
    Schlagwort(e): Öffentliches Unternehmen ; Rechtsstaat ; Privatisierung ; Corporate Governance ; Auslandsinvestition ; Korruption ; Wettbewerb ; Frühindikator ; WTO-Mitgliedschaft ; Rechtsordnung ; Russland ; Economics ; Russian Federation ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Economic growth is below what would be needed to resume rapid convergence to average OECD living standards. On-going efforts to improve the business climate are laudable, but need to be widened and strengthened. Much progress has been achieved in reducing red tape, but it is only recently that the authorities have visibly become more energetic in fighting corruption. Adverse interactions between politics, business and law enforcement generate obstacles for the rule of law and remain a major risk for potential investors. High entry barriers lead to weak competition. Reducing the role of the state in the economy and WTO membership should be viewed as opportunities to strengthen competition, and hence provide incentives for productivity improvements, which are urgently required to ensure stronger growth in Russia because of a shrinking labour force. This Working Paper relates to the 2013 OECD Economic Survey of the Russian Federation (www.oecd.org/eco/surveys/economic-survey-russian-federation.htm).
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  • 5
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (32 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1196
    Schlagwort(e): Beruflicher Status ; Einkommen ; Gesundheit ; Zufriedenheit ; Mexiko ; Economics ; Mexico ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The growing literature studying the determinants of subjective wellbeing find that Mexicans report, on average, levels of life satisfaction that are above what would be predicted by the available objective measures of well-being. This paradox raises the following question: Are the drivers of subjective well-being in Mexico different from the drivers in other countries? This paper tries to answer this question using data from the World Gallup Poll and Instituto Nacional de Estadísticas y Geografía (INEGI). In particular, it investigates if the impact that key objective measures of well-being have on life satisfaction is different in Mexico than in other countries. The results show that the drivers of life satisfaction are very similar to those in other countries. In particular, as in other countries, in Mexico income, education, health, job status and other individual characteristics are significantly associated with life satisfaction. These findings suggest that the higher average level of life satisfaction in Mexico is probably related to unobserved country characteristics. This Working Paper relates to the 2015 OECD Economic Survey of Mexico (www.oecd.org/eco/surveys/economic-survey-mexico.htm).
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  • 6
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (37 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1198
    Schlagwort(e): Föderalismus ; Finanzbeziehungen ; Australien ; Economics ; Australia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Australia’s inter-governmental fiscal relations have gradually moved towards greater centralisation. State governments receive sizeable transfers from the federal government and own revenues only partially cover their expenses. Finding the right balance between federal control and state autonomy in public service provision and its financing has not been easy. Over time various compromises have somewhat blurred responsibilities in various functional areas or reduced incentives to raise sub-national revenues potentially affecting public sector efficiency and service quality. A better balance, one in which central government has less steerage over state activities and states have more financing autonomy but also bear increased responsibility is likely to improve outcomes. Federal-state shared responsibilities continue to affect the efficiency of healthcare service delivery in particular. A clearer delineation of roles in shared functions and possibly a reallocation of responsibilities in some cases, are important. There is also scope to reduce federal grant conditionality further to contain red tape and enhance transparency and give the states a more flexible allocation of funds. Strengthening states’ revenueraising by broadening existing tax bases would promote efficiency. Consideration could be given to the introduction of a state-level income tax. The government’s current review of the federal system, focusing on both spending and tax responsibilities, is welcome, as is the “whole of government” approach to the process. This Working Paper relates to the 2014 OECD Economic Survey of Australia (www.oecd.org/eco/surveys/economic-survey-australia.htm).
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  • 7
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (46 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1199
    Schlagwort(e): Unternehmensbesteuerung ; Einkommensteuer ; Wohlfahrtsanalyse ; Indirekte Besteuerung ; Altersvorsorge ; Ökosteuer ; Subvention ; Australien ; Economics ; Australia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Getting tax and transfer systems to efficiently deliver sufficient revenues to achieve macroeconomic targets, address goals in re-distribution and social welfare, encourage employment, accommodate business-competitiveness concerns and incorporate environmental issues is difficult. In Australia, slowing economic growth in the wake of the mining boom has sharpened the trade-offs and brought into focus the importance of encouraging broad-based advances in employment and productive capacity while also dealing with other long-term challenges, in particular population ageing and greenhouse-gas emission reduction. This review particularly recommends shifting away from income taxation to indirect taxation, for instance by raising more revenue from the Goods and Services Tax. The report also advises caution in some recent welfare-reform proposals, and advocates broad support for business rather than targeted subsidies and other forms of corporate welfare. As regards environmental policies, the report comments on the proposed Emission Reduction Fund for reducing greenhouse gases and supports reform to vehicle-related taxation. This Working Paper relates to the 2014 OECD Economic Survey of Australia (www.oecd.org/eco/surveys/economic-survey-australia.htm).
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  • 8
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (33 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1205
    Schlagwort(e): Grundsteuer ; Vermögensteuer ; Gemeindesteuer ; Finanzbeziehungen ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The tax on immovable property recently started to regain its former significance, but the tax yield still remains low, with slightly more than 1% of GDP and wide variation across countries. Against this background this paper surveys property tax policy in OECD countries and analyses the efficiency, distributional and stabilisation properties of property tax. Despite rising house prices, property tax revenues are modest, because tax values of property are set below market values; and because myriads of tax exemptions reduce the tax base and tax revenues further. While property taxes are considered the least harmful to growth, a pure land tax is preferable to a tax on investment. Property taxes can be anything from progressive to regressive, depending on tax incidence and the distribution of immovable property across income groups. Property taxes tend to stabilise house prices, although the effect is rather small. Finally, property taxes can underpin sustainable land use. Political economy factors largely explain resistance against property tax reform, which, among others, might include measures for poor and cash-strapped households. Property taxes are an overwhelmingly sub-national tax, and property tax reforms that include reforms of intergovernmental fiscal frameworks may turn out to be more successful.
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  • 9
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (43 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1206
    Schlagwort(e): Arbeitsmarkt ; Jugendarbeitslosigkeit ; Qualifikation ; Frühkindliche Bildung ; Kinderbetreuung ; Hochschule ; Berufsbildung ; Frauen ; Erwerbstätigkeit ; Tschechien ; Economics ; Czech Republic ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The education system has reacted slowly to changes in labour market needs, leading to an increasing number of school leavers without sufficient qualification. In addition, declining PISA scores and a rising share of low achievers are raising concerns about the quality of the future labour force. These factors play a role in the stalled income convergence process. Indeed, practices such as early tracking, streaming and low transferability between academic tracks hamper employability, human capital accumulation and social mobility. In the vocational education and training system, resources continue to be allocated on a historical basis. A more endogenous adjustment of the system to better align students’ qualifications with labour market needs requires active participation of social partners, students and education institutions. The rapid expansion of tertiary education without a corresponding increase in resources has led to fears about declining quality. Quality in tertiary education can be fostered by modifying the accreditation system, introducing student fees, strengthening the links with the private sector and foreign research networks and publicising information on labour market outcomes by field of study and higher education institution. Measures to better balance family and work lives can improve career options for women and therefore reduce the current tensions between having children and full time labour market participation of younger women. This could also ease the coming labour shortages associated with population ageing. This Working Paper relates to the 2014 OECD Economic Review of the Czech Republic (www.oecd.org/eco/surveys/economic-survey-czech-republic.htm).
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  • 10
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (50 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1209
    Schlagwort(e): Fachkräfte ; Hochqualifizierte Arbeitskräfte ; Arbeitsproduktivität ; Führungskräfte ; Humankapital ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper explores the link between skill and qualification mismatch and labour productivity using cross-country industry data for 19 OECD countries. Utilising mismatch indicators aggregated from micro-data sourced from the recent OECD Survey of Adult Skills (PIAAC), the main results suggest that higher skill and qualification mismatch is associated with lower labour productivity, with over-skilling and under-qualification accounting for most of these impacts. A novel result is that higher skill mismatch is associated with lower labour productivity through a less efficient allocation of resources, presumably because when the share of over-skilled workers is higher, more productive firms find it more difficult to attract skilled labour and gain market shares at the expense of less productive firms. At the same time, a higher share of under-qualified workers is associated with both lower allocative efficiency and within-firm productivity – i.e. a lower ratio of high productivity to low productivity firms. While differences in managerial quality can potentially account for the relationship between mismatch and within-firm productivity, the paper offers some preliminary insights into the policy factors that might explain the link between skill mismatch and resource allocation.
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  • 11
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (51 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1210
    Schlagwort(e): framework policies ; Fachkräfte ; Arbeitsmobilität ; Hochqualifizierte Arbeitskräfte ; Humankapital ; Bildungspolitik ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper explores the relationship between skill mismatch and public policies using micro data for 22 OECD countries from the recent OECD Survey of Adult Skills (PIAAC). Results suggest that differences in skill mismatch across countries are related to differences in public policies. After controlling for individual and job characteristics, well-designed product and labour markets and bankruptcy laws that do not overly penalise business failure are associated with lower skill mismatch. Given the negative relationship between skill mismatch and labour productivity, reducing skill mismatch emerges as a new channel through which well-designed framework policies can boost labour productivity. Skill mismatch is also lower in countries with housing policies that do not impede residential mobility (e.g. transaction costs on buying property and stringent planning regulations). Greater flexibility in wage negotiations and higher participation in lifelong learning as well higher managerial quality are also associated with a better matching of skills to jobs.
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  • 12
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (53 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1213
    Schlagwort(e): Arbeitsmarkt ; Arbeitslosigkeit ; Frauen ; Erwerbstätigkeit ; Berufsbildung ; Fachkräfte ; Tschechien ; Economics ; Czech Republic ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The Czech labour market has undergone significant changes as a consequence of economic restructuring. This paper analyses these changes, highlighting both the impact of the recent economic crisis and some of the longer-run determinants of the Czech labour market. The higher share of tertiary education graduates has increased the supply of skills. Simultaneously, the development of services and the integration into global value chains have changed the composition of employment, away from construction and agriculture, and with significant shifts within the manufacturing sector. Although at an aggregate level the labour market performs well, a deeper analysis reveals several weaknesses. In particular, long-term and youth unemployment are persistent and especially affect the lower-skilled. Skill and occupational mismatches of vocational education graduates show that the education system fails to provide the qualifications required by the labour market. At the same time, regional differences in labour market performance have grown. Raising the low employment rate of women with young children would mitigate labour force ageing and prevent skill deterioration of a highly educated labour force. Over time, the labour market has been responding faster to output shocks and output growth consistent with constant unemployment has dropped significantly. Young people are more vulnerable to fluctuations in economic output than the rest of the labour force. The volume of labour market flows increased substantially during the recent years, both for short- and long-term unemployment.
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  • 13
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (37 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1216
    Schlagwort(e): Außenhandel ; Wirtschaftswachstum ; Bruttoinlandsprodukt ; Außenhandelselastizität ; Prognose ; Welt ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Global trade growth over the past few years has appeared extraordinarily weak, even in relation to weak global GDP growth. This paper shows that the apparent breakdown in the relationship between global trade and global GDP growth is largely explained by two factors: an inappropriate measurement of global GDP and extraordinary demand weakness in the euro area. As a measure of demand for traded goods, global GDP at market exchange rates is more appropriate than the conventional purchasing power parity-based measure. Moreover, extraordinary demand weakness in the euro area – which is a particularly trade intensive region – has had a substantial negative effect on intra-euro area trade flows, which are commonly counted towards global trade. When global GDP is measured at market exchange rates and intra-euro area flows are removed from the measure of global trade, econometric estimations suggest that over the past 15 years the long-term elasticity of global trade to GDP has been similar to that of the 1990s. Indeed, the overwhelming part of post-crisis trade weakness can be attributed to weak global demand rather than structural changes, according to the econometric estimations in this paper and supporting evidence on changes in global investment, international production fragmentation and protectionism.
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  • 14
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (37 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1217
    Schlagwort(e): Öffentliches Unternehmen ; Arbeitsproduktivität ; Logistikdienstleister ; Transportgewerbe ; China ; Economics ; China, People’s Republic ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The share of the tertiary sector in China’s value added has increased steadily, overtaking the share of the secondary sector in 2013. With increasing incomes, the share of services is expected to grow further as at higher incomes a larger share of income is spent on services. In addition to final demand, intermediate demand can be another driving force for service industries. As liberalisation leads to a greater role for the market in allocating resources, service industries are expected to become more competitive and therefore it may become cheaper to outsource services than to produce them in-house. Liberalisation will likely also lead to greater specialisation to remain competitive, thereby making specialised services available for outsourcing. This will likely spur the development of some high value-added logistics services such as warehousing or order handling. By the same token, professional services such as accounting or engineering are also likely to benefit from a greater reliance on the market and greater competition. In the envisaged transition from “made in China” to “created in China”, the service sector is expected to play a prominent role. To that end, the service sector is gradually being provided a more even playing field as privileges for manufacturing industries are being withdrawn and a more equal treatment of producers across sectors is being adopted. This paper provides a snapshot of the service sector, its size, the ownership of its firms, and productivity across types of firms depending on ownership, sector, age, size and geographical region. This Working Paper relates to the 2015 OECD Economic Survey of China www.oecd.org/eco/surveys/economic-survey-china.htm.
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  • 15
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (60 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1223
    Schlagwort(e): Unternehmensfinanzierung ; Immobilienfinanzierung ; Kredit ; Wirtschaftswachstum ; Bank ; Kreditgeschäft ; Systemrisiko ; Aktienmarkt ; G20-Staaten ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper shows that finance has been a key ingredient of long-term economic growth in OECD and G20 countries over the past half-century, but that there can be too much finance. The evidence indicates that at current levels of household and business credit further expansion slows rather than boosts growth. Causality from more credit to slower growth is supported by a novel empirical methodology which exploits changes in financial regulation across countries and time as a source of exogenous variation in financial size. The empirical analyses point to five factors that link more credit to slower growth: i) excessive financial deregulation, ii) a more pronounced increase in credit issuance by banks than other intermediaries, iii) too-big-to-fail guarantees by the public authorities for large financial institutions, iv) a lower quality of credit and v) a disproportionate rise of household compared with business credit. By contrast, expansions in stock market funding in general boost growth.
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  • 16
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (36 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1225
    Schlagwort(e): Finanzsektor ; Lohnstruktur ; Geschlechterdiskriminierung ; Einkommensverteilung ; Gini-Koeffizient ; EU-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Public questioning about the role of finance has been fuelled by the perception that financial sector pay is an important factor behind high economic inequalities. This paper is the first to provide a comprehensive look at the level of earnings in finance and the implications for labour income inequality for European countries. Financial sector workers are shown to make up 19% among the top 1% earners, although the overall employment share of finance is only 4%. Nonetheless, the relatively small size of the sector limits the contribution that financial sector pay has on income inequality to a small, but noticeable amount. Simulations indicate that most of this contribution is explained by financial institutions paying salaries and bonuses which are above what employees with similar profiles get in other sectors. Estimations that allow for heterogeneity across workers reveal that this wage premium is more than twice as high for financial sector workers at the top of the distribution than at the bottom. The labour market in finance displays other symptoms of imperfection, with, for example, male financial sector workers earning a large wage premium over female financial sector workers, again especially at the top.
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  • 17
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    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (26 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1229
    Schlagwort(e): 1985 - 2013 ; Öffentliche Schulden ; Finanzpolitik ; Schuldenmanagement ; Nachhaltigkeit ; OECD-Staaten ; Finance and Investment ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The recent euro area sovereign debt crisis has shown the importance of market reactions for the sustainability of debt. The objective of this paper is to calculate endogenous government debt limits given the markets assessment of the probability to default. The estimated primary balance reaction function to growing debt has the “fiscal fatigue” property (a loosening fiscal effort makes the primary balance insufficient to support rising debt) at high debt levels. It is the combination of this feature of the primary balance reaction function with the market interest rate reaction to growing debt that determines the government debt limit beyond which debt cannot be rolled over. An application of this framework to OECD countries over the period 1985 – 2013 shows that current debt limits are high for most of the OECD thanks to particularly low current interest rates. It shows also for some countries that current debt levels are not sustainable without a change in government behaviour as compared to the past. Most importantly, the framework illustrates the state contingent nature of debt limits and therefore the vulnerability of governments to a change in macroeconomic conditions and to market reactions.
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  • 18
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (46 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1230
    Schlagwort(e): 2040 ; Öffentliche Schulden ; Finanzpolitik ; Makroökonomik ; Simulation ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The sharp rise in debt experienced by most OECD countries raises questions about the prudent debt level countries should target. It also raises questions about the fiscal frameworks needed to reach them and to accommodate cyclical fluctuations along the path towards a prudent debt target. The objective of this paper is to define long-run prudent debt targets for OECD countries and country-specific fiscal rules. To this end, a semi-structural macroeconomic model for OECD countries and primary balance reaction functions are estimated. The shocks derived from these estimations are used to assess uncertainties surrounding the development of macroeconomic variables. The model is simulated up to 2040 to derive the prudent debt target for each country and design country-specific fiscal rules.
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  • 19
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (33 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1232
    Schlagwort(e): Migranten ; Qualifikation ; Bildungschancen ; Soziale Ungleichheit ; Erwerbstätigkeit ; Bildung ; Schweden ; Economics ; Sweden ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: A highly skilled workforce is crucial to sustain competitiveness and contain the rise in income inequality. Recent surveys of adult skills and educational performance suggest that younger cohorts are doing less well than their predecessors. Many immigrants struggle both in school and in the labour market partly because of low skills and language difficulties. Educational outcomes could be improved through raising the attractiveness of the teacher profession, improving teacher education and increasing support for struggling students. A more flexible labour market would facilitate access to jobs for youth with low qualifications and immigrants. This Working Paper relates to the 2015 OECD Economic Survey of Sweden www.oecd.org/eco/surveys/economic-survey-sweden.htm
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  • 20
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (40 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1234
    Schlagwort(e): Steuerpolitik ; Steuersystem ; Ökosteuer ; Steuervermeidung ; Kolumbien ; Economics ; Colombia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Tax revenues at 20% of GDP remain low compared to other Latin American countries and the OECD average and tax evasion is pervasive. Lower oil revenues and the expiration of a number of taxes are putting strains on the budget at a time when social and development spending needs are rising. Heavy reliance on corporate income taxes reduces investment. At the same time, the redistributive impact of taxation is reduced because most of income and wealth taxes are paid by firms rather than households. Therefore, Colombia needs a comprehensive tax reform that boosts revenues and shifts the tax burden to support more inclusive and green growth. Tax loopholes and exemptions that reduce the tax base and favour mainly the rich should be reduced significantly. Strengthening the tax administration will help reduce evasion. This Working Paper relates to the 2014 OECD Economic Survey of Colombia. (www.oecd.org/eco/surveys/economic-survey-colombia.htm)
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  • 21
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    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (27 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1235
    Schlagwort(e): Grundbedürfnisse ; Grundeinkommen ; Altersarmut ; Soziale Ungleichheit ; Altersgrenze ; Altersvorsorge ; Mindestlohn ; Kolumbien ; Economics ; Colombia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Colombia is one of the most unequal countries in Latin America. The high level of informality in the labour market and many characteristics of the pension system leave many elderly in poverty. Only formal-sector employees earning more than the relatively high minimum wage are covered. Linking benefits to at least the minimum wage makes the system costly and reduces the provision of annuities by insurance companies as it is difficult to insure against changes in the minimum wage. The Government has recently introduced a matching-contribution scheme (BEPS) for informal workers and vulnerable retiring aged people who have not contributed enough to be entitled to a pension. Moreover, the coverage of the old-age minimum income support has been extended but at the cost of lowering the already modest benefits. More reforms in the pension system are needed to extend coverage while eligibility to the BEPS and the minimum income support should be expanded to guarantee old-age income for more Colombians. In the medium term an in-depth pension reform is required. This Working Paper relates to the 2014 OECD Economic Survey of Colombia. (www.oecd.org/eco/surveys/economic-survey-colombia.htm)
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  • 22
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    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (43 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1236
    Schlagwort(e): Ressourcennutzung ; Agrarpolitik ; Netzinfrastruktur ; Umweltpolitik ; Indonesien ; Economics ; Indonesia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Indonesia abounds with natural resources. But the unique nature of its geography, coupled with the lack of transport infrastructure, makes their exploitation challenging. Moreover, a lack of investment, protectionism and an unwieldy regulatory environment are all inhibiting the sector from reaching its full potential. Agriculture has been held back by low productivity, under-investment, unclear property rights on land, ill-advised trade regulations, misplaced support for staples and restrictions on foreign ownership. By pursuing crop diversification, encouraging co-operation between smallholders and large estates and easing constraints on foreign investment, Indonesia could raise its farmers’ productivity. Fossil fuels have become central to Indonesia’s energy policy and its main source of export revenues. Growing environmental concerns, both domestically and internationally, combined with subsiding coal prices and the on-going shale gas revolution, call into question the sustainability of such a strategy. Indonesia should increase its energy efficiency and further develop gas to plug the gap until sufficient renewable energy, especially geothermal, comes on line. Government control over the oil industry via state-owned Pertamina should be gradually reduced. Clarifying, streamlining and publicising simple regulations in energy and minerals, especially regarding land rights and on-shore processing, and removing foreign-ownership restrictions will help bring much needed investment. The pressure on the environment that natural resource exploitation is creating should be addressed by increasing the share of gas and renewables in the energy mix, properly defining property rights and regulations regarding forest land, and implementing a positive implicit carbon price. More resources should be devoted to combating widespread illegal mining and deforestation. This Working Paper relates to the 2015 OECD Economic Survey of Indonesia (www.oecd.org/eco/surveys/economic-survey-indonesia.htm)
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  • 23
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    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (46 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1240
    Schlagwort(e): Diversifikation ; Technologiepolitik ; Kleine offene Volkswirtschaft ; Luxemburg ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Developing activities in areas other than finance would help to sustain growth and deal with the declining potential output and trend productivity growth that Luxembourg’s economy is facing. Given the relatively high labour costs, Luxembourg’s future comparative advantages are likely to lie in higher value added and skill intensive activities. Further development of Luxembourg’s high living standards thus requires strengthening the economy’s growth potential via further diversification of activity in high value added sectors. Stepping up investment in knowledge based capital and enterprise innovation can help Luxembourg to maintain and further develop comparative advantages in high value added activities. The government is promoting the formation of enterprise clusters by providing networking, infrastructure investment and financial support for research and development. To enhance the efficiency of the government’s policy, high priority should be given to outcome-oriented evaluation. This is required to ensure that costly infrastructure investment yields good results. Further efforts should be made to create synergies via cross-border initiatives, in particular with respect to research. Experience in other countries points to the importance of regulatory framework conditions in product and labour markets to spur enterprise dynamics. Regulation in professional services can be made more competition friendly, and impediments to labour force participation, notably for women, can be reduced. Productivity and innovation are also affected by the effectiveness of the secondary education system to produce skilled workers, which in Luxembourg is hampered by high repetition rates among students. This Working Paper relates to the 2015 OECD Economic Survey of Luxembourg (www.oecd.org/eco/surveys/economic-survey-luxembourg.htm).
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  • 24
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    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (48 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1244
    Schlagwort(e): Öffentlich-private Partnerschaft ; Netzinfrastruktur ; Infrastrukturinvestition ; Großbritannien ; Economics ; United Kingdom ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The United Kingdom (UK) has spent less on infrastructure compared to other OECD countries over the past three decades. The perceived quality of UK infrastructure assets is close to the OECD average but lower than in other G7 countries. Capacity constraints have emerged in some sectors, such as electricity generation, air transport and roads. Developing and regularly updating a national infrastructure strategy, with the National Infrastructure Plan being a welcome first step in this direction, would contribute to reduce policy uncertainty and tackle capacity constraints in a durable way. The design of coherent development plans by local authorities congruent with the national and local planning systems should continue to improve project delivery. The government intends to finance a large share of infrastructure spending to 2020 and beyond through private capital. Unlocking private investment in a cost effective and transparent way could be supported by further improving incentives for greenfield investment, continuing to carefully assess and record public-private partnerships, and promoting more long-term financing instruments. This Working Paper relates to the 2015 OECD Economic Survey of the United Kingdom (www.oecd.org/eco/surveys/economic-survey-united-kingdom.htm).
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  • 25
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (46 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1246
    Schlagwort(e): Einkommensverteilung ; Wirtschaftliche Konvergenz ; Produktivitätsentwicklung ; Wirtschaftswachstum ; Soziale Integration ; Entwicklung ; Nachhaltige Entwicklung ; Bildung ; Soziale Ungleichheit ; Indonesien ; Economics ; Indonesia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Indonesia has a very good record of poverty reduction, having halved its incidence over the past two decades. Nevertheless, almost 30 million people still live below the national poverty line, mostly in rural areas and in certain provinces. In order to make further progress in lifting these people out of poverty and economic vulnerability, policy needs to focus on generating strong, inclusive and sustainable growth. Pro-poor growth can assist in the process of economic convergence by facilitating the migration of workers out of the low-productivity agricultural sector into the industry and services sectors. By putting in place the right fundamentals, such as a well-designed and inclusive education system, efficient infrastructure and a stable macroeconomic environment, Indonesia will have decades of strong growth ahead by virtue of economic convergence with frontier countries. This has the potential to lift millions more out of poverty without exacerbating income inequality. Moreover, it will set Indonesia up for the next phase of innovation-driven growth that will propel it into the ranks of high income countries. While existing poverty reduction programmes have become increasingly effective, more resources are required, and efficiency could be further enhanced, especially through better targeting. The distribution of income has become markedly more unequal over the past decade and needs to be kept in mind when formulating growth policies. This Working Paper relates to the 2015 OECD Economic Survey of Indonesia (www.oecd.org/eco/surveys/economic-survey-indonesia.htm)
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  • 26
    Sprache: Englisch
    Seiten: Online-Ressource (40 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1249
    Schlagwort(e): Konjunktur ; Wirtschaftsindikator ; Vulnerabilitätsanalyse ; Coping-Strategie ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The high costs of crises underscore the need to strengthen the resilience of economies, notably by assessing early on potential vulnerabilities that can lead to such costly events. This paper first discusses the source and nature of potential vulnerabilities in OECD countries that can lead to costly economic crises. Based on the most recent evidence from the early warning literature and lessons learned from the global financial crisis, it then proposes a new dataset of more than 70 vulnerability indicators that could be monitored to assess country risks in OECD economies. The indicators are grouped into five domestic areas: i) financial sector imbalances, ii) non-financial sector imbalances, iii) asset market imbalances, iv) public sector imbalances and v) external sector imbalances. An additional international “spillovers, contagion and global risks” category aims at capturing vulnerabilities that could transmit from one country to another through financial, trade or confidence channels. Evidence in a companion paper (Hermansen and Röhn, 2015) shows that the majority of the proposed indicators for which sufficiently long time series exists is helpful in predicting severe recessions and crises in the 34 OECD economies and Latvia between 1970 and 2014.
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  • 27
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    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (30 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1252
    Schlagwort(e): 2011 - 2013 ; Energiewirtschaft ; Wirtschaftsstruktur ; Wirtschaftliche Anpassung ; Finanzpolitik ; Sozialpolitik ; Arbeitsmarktreform ; Russland ; Economics ; Russian Federation ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Since 1995 when OECD began conducting Economic Surveys of the Russian Federation many policy recommendations relating to structural reform and framework conditions have been made. This paper is an update of an earlier paper that described actions taken up to October 2011 (Vaziakova et al., 2011). It expands the Annex A.1 of the 2013 OECD Economic Survey of the Russian Federation and provides a summary table of the policies implemented. This Working Paper relates to the 2014 Economic Survey of the Russian Federation www.oecd.org/eco/surveys/economic-survey-russian-federation.htm
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  • 28
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (30 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1254
    Schlagwort(e): Soziale Ungleichheit ; Wirtschaftswachstum ; Öffentlicher Auftrag ; Haushaltsplanung ; Finanzverwaltung ; Finanzpolitik ; Lettland ; Economics ; Latvia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This working paper explores avenues to improve public sector efficiency in Latvia, a catching-up and ageing economy where spending needs are large. Ensuring that spending allocated to core services (e.g. education, healthcare) is adequate to achieve convergence of policy outcomes to OECD upper standards is challenging. Efficiency gains in the tax system could bring additional revenues. The tax base should be expanded by reducing informality, strengthening tax administration and increasing property and environmentally related taxes, which are low by international standards. To reduce unemployment and income inequality, the tax-benefit system should also be revised as it is now relatively regressive and the tax wedge on low-income earners is high. Enhancing analytical, monitoring and assessment capacities should help to rein in wasteful expenditure and improve the prioritisation of spending. The reform of human resource management, public procurement, and state-local relations is also needed to deliver higher-quality and more cost-efficient public services.
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  • 29
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (27 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1258
    Schlagwort(e): Armutsbekämpfung ; Soziale Sicherheit ; Steuer ; Lohn ; Altersvorsorge ; Einkommensverteilung ; Bildung ; Portugal ; Economics ; Portugal ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Portugal has one of the most unequal income distributions in Europe and poverty levels are high. The economic crisis has halted a long-term gradual decline in both inequality and poverty and the number of poor households is rising, with children and youths being particularly affected. Unemployment is one of the principal reasons why household incomes declined. The tax and benefit system alleviates both inequality and poverty significantly. The tax system is markedly progressive, and recent tax reforms have likely increased this progressivity. Transfer payments, especially non-pension benefits, are reducing inequality and poverty in a fairly efficient way. Nonetheless, a number of adjustments could strengthen the equalising role of the benefit system, which is generally biased towards benefits for elderly people, while families with children should receive more support. The education system should provide more support to students at risk of falling behind to reduce grade-repetition and drop-out rates, while further increasing class sizes would be a reasonable way to generate savings without affecting learning progress much. Scaling up vocational courses and adult education, including in the context of active labour market policies, could improve the capacity of many households to generate income and lead to a more equitable income distribution.
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  • 30
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (51 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1261
    Schlagwort(e): Deregulierung ; Risikokapital ; Technologiepolitik ; Geldpolitik ; Stabilisierungspolitik ; Finanzpolitik ; Japan ; Environment ; Economics ; Japan ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Innovation is key to boosting economic growth in the face of a rapidly ageing population. While Japan spends heavily on education and R&D, appropriate framework conditions are essential to increase the return on such investments by strengthening competition, both domestic and international, and improving resource allocation. Upgrading corporate governance would encourage firms to maximise profits and invest their large cash reserves. To promote open innovation in a global framework, it is necessary to improve universities and expand their role in business R&D, while increasing international collaboration in R&D from its current low level. Venture capital-backed firms and start-ups should play a key role in commercialising innovation. To make venture investment a growth driver, it is important to expand the role of business angels and foster entrepreneurship. SMEs, which account for 70% of employment, should contribute more to innovation.
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  • 31
    Sprache: Englisch
    Seiten: Online-Ressource (59 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1263
    Schlagwort(e): Frauen ; Erwerbstätigkeit ; Gleichberechtigung ; Wirtschaftswachstum ; Indien ; Economics ; India ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper studies how public policies, including pro-women interventions, can raise female labour force participation and promote economic growth in India. The first part provides a brief review of gender issues in the country. The second part presents a gender-based OLG model, based on Agénor (2015) and Agénor and Canuto (2015), that accounts for women’s time allocation between market work, child rearing, human capital accumulation, and home production. Bargaining between spouses depends on relative human capital stocks. The model is calibrated and various experiments are conducted, including investment in infrastructure, conditional cash transfers, and a reduction in gender bias in the market place. The analysis shows raising female labour force participation with a package of pro-growth and pro-women policies could boost the growth rate by about 2 percentage points over time.
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  • 32
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    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (44 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1266
    Schlagwort(e): Arbeitsmobilität ; Fachkräfte ; Arbeitsmarktreform ; Unternehmensgründung ; Technologiepolitik ; Produktivitätsentwicklung ; Italien ; Economics ; Italy ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: A well-functioning labour market is indispensable to promote job creation, increase living standards, and develop a cohesive society. In Italy, the various deficiencies of the labour market have resulted in high unemployment, low labour force participation and job-skill mismatch. These deficiencies have contributed to the problem of allocation of resources, income distribution, and low productivity, reducing people’s well-being. The current government, following on past governments’ reforms, is introducing a package of labour market reforms – the Jobs Act – to improve the labour market in a consistent way. The reform will make the labour market more flexible and inclusive, and reduce duality. The long-lasting problem of effective enforcement will need to be overcome, with an increased focus on rapid implementation by the current government. A set of well-designed institutions, not only labour market policies but also the education system and product market regulation, would encourage higher labour force participation, especially among women, and produce more and better quality jobs in a more skill-intensive economy. This Working Paper relates to the 2015 OECD Economic Survey of Italy (www.oecd.org/eco/surveys/economic-survey-italy.htm).
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  • 33
    Online-Ressource
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    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (35 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1268
    Schlagwort(e): Auslandsinvestition ; Gravitationsmodell ; Regulierung ; Multinationales Unternehmen ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The determinants of foreign direct investment (FDI) are explored with gravity models, using a Poisson estimator and a linear estimator, both with fixed effects. The heterogeneity of product market regulations has a large and robust impact on cross-border investment: a reduction of regulatory divergence by one fifth could increase FDI by about 15%. In particular, the divergence of command and control regulations and of protection of incumbents (antitrust exemptions, entry barriers in networks and services) reduce cross-border investment. In addition, countries with higher employment protection have both less inward and less outward FDI, and there is some evidence that more complex regulatory procedures reduce inward FDI.
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  • 34
    Sprache: Englisch
    Seiten: Online-Ressource (32 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1270
    Schlagwort(e): Steuerreform ; Besteuerungsverfahren ; Einkommensteuer ; Vermögensteuer ; Wohlfahrtsanalyse ; Irland ; Economics ; Ireland ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The economic literature suggests that a revenue-neutral shift of tax revenues from income taxes to property taxes would increase GDP per capita in the medium term. This paper analyses for Ireland the consequences of such a shift in the tax mix. In particular, it examines whether this can be carried out in a way that would neither undermine income distribution nor depress government revenue. Simulations using the ESRI tax-benefit model, SWITCH, suggest it is possible to achieve such a broadly revenue-neutral tax shift in a non-regressive way, while lowering marginal tax rates for most taxpayers. In particular, reductions in the Universal Social Charge would reduce marginal and average tax rates and have a positive impact for the income of most households. This could be funded by shifting the tax base toward residential properties, though this might have an adverse effect on income distribution, due to Ireland’s high rates of home ownership throughout the income distribution. The analysis shows that low income groups could be protected through the careful introduction of income-related supports, with revenue losses recovered through a more progressive property tax rate structure. Overall, the simulations show that a shift from labour to property tax can be pro-growth and pro-employment, without equity losses. The paper therefore suggests that tax reform can be inclusive.
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  • 35
    Online-Ressource
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    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (59 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1241
    Schlagwort(e): Produktivitätsentwicklung ; Internationaler Wettbewerb ; Wirtschaftswachstum ; Slowenien ; Economics ; Slovenia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The rapid growth after independence stopped in 2008 as the global crisis exposed important structural weaknesses. Large state involvement and rigid labour and product markets lowered productivity. Weak corporate governance and easy credit before the crisis led to high indebtedness and overinvestment. Slovenia was slow to deal with the underlying structural problems. Gradually, important reforms have been implemented which raised credibility of Slovenia in the financial markets and boosted confidence. But economic recovery has been sluggish, many people are unemployed and living standards still remain below the pre-crisis levels. Cost competitiveness and export market performance deteriorated, and there have been marked improvements only recently. Better corporate governance and management practices in the state owned sector and privatisations can attract FDI and raise efficiency. Low innovative activity could be boosted by more FDI, stronger framework for entrepreneurial activity and better start-up support. Relatively high minimum wage is potentially reducing employment opportunities of low-skilled workers. Limiting the minimum wage growth, and lowering the high tax wedge on labour income could boost employment. Efficiency should be raised in early and tertiary education to enhance skills. Despite generous public support, overall students’ performance could be improved and there are marked differences between students from different socioeconomic backgrounds. This Working Paper relates to the 2015 OECD Economic Survey of Slovenia (www.oecd.org/eco/surveys/economic-survey-slovenia.htm).
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  • 36
    Online-Ressource
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    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (31 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1242
    Schlagwort(e): 2015 - 2030 ; Alternde Bevölkerung ; Altersvorsorge ; Gesundheitswesen ; Altenhilfe ; Prognose ; Slowenien ; Economics ; Slovenia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Slovenia’s population is set to age rapidly in the coming decades. This demographic trend will increasingly put pressure on already fragile public finances as age related expenditure is projected to rise by 3 percentage points of GDP by the year 2030. Ensuring debt sustainability and generational equity requires reforms of social support systems and necessitates adjustments in labour markets. Policy makers will thus need to act more strongly than in the past to rein in ageing related outlays, pursue efficiency-enhancing restructurings of health and long-term care systems, and adopt measures to strengthen labour force participation. In particular, further increases in the relatively low pension age in line with the rise in life expectancy would reduce pension costs and the burden on the active population. Better utilisation of medical resources and coordinated purchasing of medical supplies would curb health care expenditure, while a dedicated funding mechanism for long-term care would enhance the sustainability of the system. Moreover, removing incentives for early retirement in combination with active labour market policies would increase the labour force participation rates of older workers from its currently very low levels. This Working Paper relates to the 2015 OECD Economic Survey of Slovenia (www.oecd.org/eco/surveys/economic-survey-slovenia.htm).
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  • 37
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    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (17 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1194
    Schlagwort(e): Dienstleistungssektor ; Wettbewerbspolitik ; Regulierung ; Erneuerbare Energie ; Deutschland ; Economics ; Germany ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Germany’s manufacturing sector, which plays an important role for exports, has been performing well over the past decade in terms of labour productivity growth and international competitiveness. However, the services sector has had much slower growth rates. Competition often appears to be hindered by protection of incumbents. Reforming and deregulating the domestically oriented sectors, including network industries, crafts and professional services would release hidden growth potential and prove beneficial to the economy as a whole. It could also help strengthen domestic demand and reduce dependence on exports. This Working Paper relates to the 2014 Economic Survey of Germany (www.oecd.org/eco/surveys/economic-survey-germany.htm).
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  • 38
    Sprache: Englisch
    Seiten: Online-Ressource (30 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1195
    Schlagwort(e): Mindestlohn ; Soziale Integration ; Bildungschancen ; Migranten ; Schulauswahl ; Einkommensteuer ; Steuerwirkung ; Wohlfahrtsanalyse ; Berufsbildung ; Bildungspolitik ; Belgien ; Economics ; Belgium ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Immigrants make up one fifth of the Belgian working age population, but their labour market integration is poor. Employment rates of non-EU immigrants, in particular, are very low, and the problem extends to their native-born offspring. Further, with more precarious jobs and lower wages, immigrants are heavily exposed to poverty. This is explained by low educational attainment and correspondingly high vulnerability to disincentives to work and relatively high minimum wages, but also by more diffuse handicaps, like discrimination and imperfect knowledge of the languages of Belgium. Improving the labour market performance of immigrants requires a two-fold strategy. First, policies specific to migrants need to be enhanced. To improve job matching, immigrants need more support to develop and validate their human capital, and employers, both public and private, need stronger incentives to hire a more diverse workforce. Second, general reforms to improve the functioning of the economy, desirable in any case, could also have a significant positive impact on immigrants. There is vast scope to reduce labour costs and increase work incentives for low-skilled workers. Also, the education system needs to become more equitable and responsive to the needs of the children of immigrants. This Working Paper relates to the 2015 OECD Economic Survey of Belgium (www.oecd.org/eco/surveys/economic-survey-belgium.htm)
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  • 39
    Sprache: Englisch
    Seiten: Online-Ressource (74 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1200
    Schlagwort(e): Regulierung ; Welt ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper investigates patterns in product market regulation across 34 OECD and 21 non-OECD countries, using an updated and revised version of the OECD’s indicators of product market regulation (PMR). The analysis shows that liberalisation of product markets has further slowed over the past five years. However, even though there was little progress on average in the OECD over this period, a number of OECD countries implemented sizable reforms, often in an attempt to boost economic growth in wake of the economic crisis. On average across the OECD, countries have made particular progress in abolishing price controls or improving their design, streamlining administrative procedures for start-ups, simplifying rules and procedures or improving access to information about regulations. Room for further improvements is the largest in the areas of public ownership and the governance of state-owned enterprises as well as with respect to barriers to competition in network and services sectors.
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  • 40
    Online-Ressource
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    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (54 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1203
    Schlagwort(e): 2004 - 2013 ; Finanzsystem ; Transaktionskosten ; Technische Effizienz ; Wettbewerbsanalyse ; Data-Envelopment-Analyse ; Kolumbien ; Economics ; Colombia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Despite progress in the past decade, financial markets in Colombia remain relatively small and shallow. In particular the banking system suffers high intermediation costs, which limit constrains access to finance by households and firms. This paper explores some of the causes behind these intermediation costs. An accounting decomposition of the lending-deposit spread suggests that the levels of contestability and efficiency are low. A more in-depth analysis using stochastic frontier and data envelopment analyses confirm that the efficiency of the Colombian commercial banking system is low compared to other emerging markets and OECD economies with similar levels of development. Furthermore, econometric estimates of market contestability support the hypothesis that contestability in Colombia is subpar. Finally, the paper also explores some of the potential determinants of efficiency and contestability for a sample of the 24 countries over the period 2004 – 2013. This Working Paper relates to the 2014 OECD Economic Survey of Colombia. (www.oecd.org/eco/surveys/economic-survey-colombia.htm)
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  • 41
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (35 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1208
    Schlagwort(e): Wohnungsmarkt ; Landnutzung ; Wohnungspolitik ; Wohnungspolitik ; Vermögensteuer ; Wohngeld ; Energiesparendes Bauen ; Hypothek ; Wohnungsmarkt ; Immobilienpreis ; Belgien ; Economics ; Belgium ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Housing conditions in Belgium are among the best in OECD countries according to the Better Life Index, as dwellings are of high quality and large, and housing costs are average. However, the steep increase in house prices since 2003 has put market access for first-time buyers under pressure. Housing affordability is also deteriorating for the poor, as demand for social housing has not been met while the private rental market has become expensive. As a result, access to housing is at risk of becoming less equitable if the young and poorer people are priced out. Affordability for poorer people could be improved by expanding the regional rental allowance schemes. In parallel, scaling down the disproportional support for homeownership would free up public resources and reduce the bias towards homeownership. Other challenges to the efficiency of the housing market are posed by the high level of greenhouse gas emissions due to the old age of the housing stock and the low residential mobility, which harms the labour market and contributes to congestion and air pollution. To maintain an efficient housing market, policies should aim at increasing building densities in residential areas. Tilting taxation from transaction to recurrent taxes would lower barriers for residential mobility and contribute to labour market flexibility. This Working Paper relates to the 2015 OECD Economic Survey of Belgium (www.oecd.org/eco/surveys/economic-survey-belgium.htm)
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  • 42
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (39 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1212
    Schlagwort(e): Gerichtsbarkeit ; Öffentlicher Sektor ; Finanzpolitik ; Slowakei ; Economics ; Slovak Republic ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Improving public sector efficiency can help to meet two conflicting objectives: ensuring fiscal consolidation and maintaining room for growth-friendly spending. However, the public sector lags on the application of e-government and e-procurement, insufficiently prioritizes spending, and suffers from budget fragmentation, lack of coordination between ministries and perceived corruption. The regulatory framework could also be more business friendly and the judicial system more efficient. Boosting public sector efficiency requires broad based reforms. Sequencing will be important for the effectiveness of this comprehensive reform effort, and therefore the government should put an initial emphasis on human resource management and the improvement of administrative capacity.
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  • 43
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (44 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1211
    Schlagwort(e): Berufsbildung ; Arbeitsvermittlung ; Erwachsenenbildung ; Arbeitsmarktpolitik ; Verkehrsinfrastruktur ; Technologiepolitik ; Arbeitslosigkeit ; Räumliche Verteilung ; Roma-Bevölkerung ; EU-Strukturfonds ; Slowakei ; Economics ; Slovak Republic ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Regional inequality in Slovakia is among the highest in the OECD and is increasing. The main reason for regional disparity is the combination of low economic growth and job creation in the eastern and central part of the country and insufficient labour mobility to the west, in particular by low-skilled workers. As a result, jobs shortage and lack of technological capacities in the central and eastern regions persist alongside skills shortages in the Bratislava regions. Boosting convergence requires a multi-pronged approach involving innovation, labour market and educational policies. Completing the transport infrastructure network in Slovakia will be both important for removing expansion bottlenecks in the Bratislava region and reducing obstacles for job creation in the central and eastern regions.
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  • 44
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (28 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1214
    Schlagwort(e): Lohnstruktur ; Sozialversicherungsbeitrag ; Teilzeitarbeit ; Bildungschancen ; Berufsbildung ; Arbeitsangebot ; Altersvorsorge ; Estland ; Economics ; Estonia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Labour input in Estonia remains lower than before the crisis. Skill mismatches between workers and jobs contribute to structural unemployment and emigration, notably among young, employed workers, has reduced labour supply. Although the government has lowered labour taxes and further reductions are planned, government revenues still rely heavily on taxing employment. Shifting some of the tax burden on labour to real estate would make the tax system more employment friendly. High costs reduce the returns workers earn on the assets in the compulsory private pension system, effectively raising the tax burden on labour. There is scope to reduce costs. In the public pension system, phasing out early retirement schemes for workers in specific sectors or professions would make room for lower social security contributions. They pay gap between men and women is substantial and further steps could be envisaged to reduce it. Reforms to improve the skills of Estonian workers have a high pay-off in view of increased demand for skilled workers. The recent initiatives of the government to foster life-long learning and improve financial support for students from low-income families in tertiary education are welcome. There is scope to promote apprenticeships, for example by fostering cooperation between local firms and local schools. This would help reduce skill mismatch. More financial support is needed for students, especially to ensure youth have access to upper secondary vocational education. This Working Paper relates to the 2015 OECD Economic Survey www.oecd.org/eco/surveys/economic-survey-estonia.htm
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  • 45
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (41 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1219
    Schlagwort(e): Bildungschancen ; Berufsbildung ; Fachkräfte ; Binnenwanderung ; Bildungspolitik ; Humankapital ; Innovation ; China ; Economics ; China, People’s Republic ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: China has made impressive strides in education in recent decades, even though the accumulation of human capital has lagged behind that of physical capital. Going forward, access to and quality of education will be key to sustain economic convergence with the most advanced economies and to offset the drag exerted by population ageing. This will require addressing a number of problems. Access to pre-school education is still far from universal. Migrants’ children as well as rural and poor families are still at a major disadvantage at every step of the education ladder. The focus on rote learning and exams remains excessive. More bridges are needed between vocational and general education. Graduating students often struggle to find a job matching their expectations and employers do not always find the requisite skills. Despite a soaring number of Chinese patents, the quality of most patents is still low and innovation output is weak. Reforms are underway to address these problems but further progress is needed in various areas against the backdrop of rapidly evolving market demands and the development of the knowledge economy. Among the priorities are more and better oriented funding of education, giving greater opportunities to children with a socio-economic or physical disadvantage, reducing the role of after-school tutoring, focusing less on memorisation and more on creativity, enhancing the appeal of the teaching profession, improving students’ information on labour market prospects, developing workplace training, making greater use of online education potential, and more effectively nurturing research and innovation. This Working Paper relates to the 2015 OECD Economic Survey of China www.oecd.org/eco/surveys/economic-survey-china.htm
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  • 46
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (32 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1222
    Schlagwort(e): Energieeinsparung ; Private Investition ; Erneuerbare Energie ; Öko-Produkt ; Marktversagen ; Haushaltsökonomik ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Energy efficiency and renewable energy technologies provide important opportunities to reduce greenhouse gas emissions. However, households fail to take up many clean energy investments that are cost-effective. This paper reviews different explanations for apparent underinvestment in energy efficiency that have been put forward in the literature. While investments in renewable energy technologies are typically not (yet) profitable, many of its drivers are similar to those that determine energy efficiency investments, and the two types of investment are therefore assessed jointly. The paper also provides new evidence regarding barriers to investment in energy efficiency based on the OECD Survey on Household Environmental Behaviour and Attitudes. Finally, policy solutions that would help overcome some of these barriers are also presented.
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  • 47
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (41 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1224
    Schlagwort(e): Finanzkrise ; Einkommensverteilung ; Aktienmarkt ; Gini-Koeffizient ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Using data from OECD countries over the past three decades, this paper shows that financial expansion has fuelled greater income inequality. Higher levels of credit intermediation and stock markets are both related with a more unequal distribution of income. Greater income inequality may not reduce the welfare of even the lowest earners so long as their income growth is not negatively affected. Numerical simulations based on a novel empirical methodology indicate, however, that the financial expansion has put a brake on the income growth of many low- and middle-income households. No evidence is found that financial crises explain the observed relationships. While causality is difficult to establish beyond doubt, the paper finds credit patterns which are inconsistent with reverse causality running from greater income inequality to more household borrowing.
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  • 48
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (30 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1226
    Schlagwort(e): Aktienmarkt ; Einkommensverteilung ; Haushaltsökonomik ; Migranten ; Frauen ; Vermögensverteilung ; Eurozone ; Economics ; Euro Area ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The size and composition of assets and liabilities of households differ vastly across the income distribution in euro area countries. This paper shows that differences between income groups in household finance on both sides of the balance sheet contribute to income inequality. The distribution of household credit is two times as unequal and the distribution of stock market wealth four times as unequal as the distribution of household income. Larger credit and stock markets may thus widen income inequality by providing people with high incomes with better investment opportunities and raising the returns on their savings. In addition, financial institutions help people protect their consumption against temporary changes in their income. But they do so unevenly across the distribution, as a household is more likely to be denied credit if it has a low income. No evidence is found of discrimination in credit provision against women or immigrants.
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  • 49
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (26 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1233
    Schlagwort(e): Erwerbstätigkeit ; Einwanderung ; Bildungsniveau ; Qualifikation ; Arbeitsmarktdiskriminierung ; Schweden ; Economics ; Sweden ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Both educational attainment and skills, as measured in the OECD Survey of Adult Skills (PIAAC), are high in Sweden. They are not perfect substitutes, but both are to some degree necessary for successfully integrating in the Swedish labour market. This paper describes the distribution of proficiency in literacy in the population and explores its determinants, and uncovers a strong relationship between literacy and the likelihood of being employed. The relationship between proficiency in literacy and the likelihood of participating in adult education is also explored. Lower employment prospects for immigrants are well explained by lower literacy proficiency, lower education and less favourable socio-economic backgrounds. This Working Paper relates to the 2015 OECD Economic Survey of Sweden www.oecd.org/eco/surveys/economic-survey-sweden.htm
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  • 50
    Sprache: Englisch
    Seiten: Online-Ressource (23 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1237
    Schlagwort(e): Wohnungsmarkt ; Stabilisierungspolitik ; Grundsteuer ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper contributes to the scarce literature on the macroeconomic effects of property taxes, in particular on the relationships between property taxes, house prices and the wider economy. The paper first estimates a fiscal reaction function which analysis the reaction of property tax revenues to house prices. It then analyses a house price reaction function looking at the relation of how house prices react to changes in property taxes. For a set of OECD countries, the results suggest that property taxes tend to be a-cyclical or slightly pro-cyclical. They provide a stable revenue source for sub-central governments but do not stabilise the economy. The results also suggest that an increase in property tax revenues or in the tax revenue-to-GDP share slows down house price increases and that higher property taxation tends to reduce house price volatility.
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  • 51
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    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (27 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1239
    Schlagwort(e): Finanzmarkt ; Diversifikation ; Finanzmarktregulierung ; Luxemburg ; Finance and Investment ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Over the last two and a half decades, Luxembourg’s financial sector emerged as a leading international hub for asset management and investment funds and became a key contributor to growth. Diversification into new areas of financial asset management is continuing. However, changing financial market regulation in Europe, increased international transparency requirements for banking and heightened international competition pose challenges. Moreover, the financial sector has reached a size where its contribution to the economy’s overall growth might diminish. Maintaining sound framework conditions is important for further diversification in the financial sector, building on Luxembourg’s existing comparative advantage and investors’ trust in its economic stability. Regulators should ensure financial intermediaries maintain strong capital ratios to address potential financial market shocks from abroad and real estate risks in the domestic economy. Assessment of systemic risks should be based on a framework that accounts for the various linkages between the banks and the other relevant financial market actors, notably investment funds. Given that the bulk of the banks in Luxembourg are affiliates of foreign bank groups, the authorities should seek clear procedures that govern the (cross-border) resolution of large banks in bad times. Moreover, implementation of the remaining steps in upgrading the tax transparency regulations Luxembourg has committed to can increase incentives for banks to further refine their business models, benefitting Luxembourg’s financial sector in the medium term. This Working Paper relates to the 2015 OECD Economic Survey of Luxembourg (www.oecd.org/eco/surveys/economic-survey-luxembourg.htm).
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  • 52
    Sprache: Englisch
    Seiten: Online-Ressource (40 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1245
    Schlagwort(e): Bank ; Hypothek ; Immobilienfinanzierung ; Privater Haushalt ; KMU ; Mittelstandsfinanzierung ; Immobilienpreis ; Kapitalstruktur ; Bankenregulierung ; Finanzmarktaufsicht ; Großbritannien ; Economics ; United Kingdom ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The banking sector in the United Kingdom (UK) was deeply affected by the crisis. Bank credit has collapsed reflecting both weak demand and tighter supply. New prudential requirements have improved the resilience of the banking sector and a number of measures were taken to support credit supply. These included conventional and unconventional monetary policies, policies to address credit constraints with Help to Buy and Funding for Lending programmes, and a number of public programmes to improve access to finance united under the roof of the British Business Bank. Further structural reforms are needed to improve competition in the SME credit market and to boost credit provision to SMEs in the medium term. Sustainable financing of the economy and greater financial stability should be achieved by sound regulation, ensuring high capital requirements for systemically important banks, improving banks’ resolvability and fine-tuning the use of countercyclical measures. Data should be collected on a wider set of financial institutions than currently done and macroprudential regulation should be gradually extended beyond the banking sector to prevent the migration of systemic risks. This Working Paper relates to the 2015 OECD Economic Survey of the United Kingdom (www.oecd.org/eco/surveys/economic-survey-united-kingdom.htm)
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  • 53
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (41 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1247
    Schlagwort(e): Wohnungsmarkt ; Finanzpolitik ; Einwanderung ; Arbeitsmarktreform ; Finanzpolitik ; Sparen ; Stadtentwicklung ; Infrastruktur ; Produktivitätsentwicklung ; Neuseeland ; Economics ; New Zealand ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The NZ economy has performed well over the past few years, having achieved relatively strong GDP and employment growth. However, some constraints to sustaining this momentum beyond the short term are emerging in the fields of skills, housing and urban infrastructure. Skills shortages have risen most in construction trades and management occupations. Housing shortages are most severe in Auckland, reflecting supply constraints in the face of population increases. As a result, prices are rising, reducing affordability. Urban infrastructure, particularly for road transportation, is also strained. In this respect, policy has a role to play in expanding economic capacity by reducing supply-side constraints and fostering productivity growth. At times New Zealand’s fiscal policy has been expansionary during upturns. Ensuring that permanent spending or tax cuts are implemented in a sustainable manner would encourage the strong fiscal position that New Zealand needs to meet potentially large macroeconomic shocks and long-run ageing-related costs. This Working Paper relates to the 2015 OECD Economic Review of New Zealand (www.oecd.org/newzealand/economic-survey-new-zealand.htm)
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  • 54
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (30 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1250
    Schlagwort(e): Konjunktur ; Frühwarnsystem ; Vulnerabilitätsanalyse ; Coping-Strategie ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The global financial crisis and the high associated costs have revived the academic and policy interest in “early warning indicators” of crises. This paper provides empirical evidence on the usefulness of a new set of vulnerability indicators, proposed in a companion paper (Röhn et al., 2015), in predicting severe recessions and crises in OECD countries. To evaluate the usefulness of the indicators the signalling approach is employed, which takes into account policy makers’ preferences between missing crises and false alarms. Our empirical evidence shows that the majority of indicators would have helped to predict severe recessions in the 34 OECD economies and Latvia between 1970 and 2014. Indicators of global risks consistently outperform domestic indicators in terms of their usefulness, highlighting the importance of taking international developments into account when assessing a country’s vulnerabilities. In the domestic areas, indicators that measure asset market imbalances (real house and equity prices, house price-to-income and house price-to-rent ratios), also perform consistently well both in and out-of sample. Domestic credit related variables appear particularly useful in signalling upcoming banking crises and in predicting the global financial crisis out-of-sample. The results are broadly robust to different definitions of costly events, different forecasting horizons and different time and country samples.
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  • 55
    Sprache: Englisch
    Seiten: Online-Ressource (34 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1253
    Schlagwort(e): 2009 - 2011 ; Erwerbstätigkeit ; Arbeitsvertrag ; Atypische Beschäftigung ; Arbeitsmobilität ; Russland ; Economics ; Russian Federation ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper examines the use of two forms of non-standard work contracts in Russia with data from an enterprise survey for the years 2009 to 2011. Non-standard work contracts are less costly and more flexible for employers. Internal adjustment in form of wage cuts or unpaid leave is not covered by the Labour Code and earlier practices to impose such measures are less tolerated. Therefore more firms use non-standard work contracts for external flexibility. Statistical analysis shows that companies using non-standard work contracts have similar unobserved characteristics and consider fixed-term contracts and agency work as complements. The main concern for policy is the growing danger of duality following the asymmetric distribution of adjustment costs for workers.
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  • 56
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (43 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1256
    Schlagwort(e): Wohnungspolitik ; Einkommensverteilung ; Bildungspolitik ; Armutsbekämpfung ; Gesundheit ; Wirtschaftswachstum ; Soziale Integration ; Neuseeland ; Economics ; New Zealand ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: New Zealand generally performs well in terms of economic and social inclusion. It has high employment rates, and education and health-care systems work well for most. However, some New Zealanders are stuck on low incomes and face material deprivation and multiple barriers to economic and social participation. The ranks of those falling behind increased in the wake of the economic reforms in the late 1980s and early 1990s, which succeeded in halting the decline in GDP per capita relative to the OECD average but contributed to large increases in income inequality and poverty that have only been partially reversed since then. These developments have been aggravated by the rising burden of housing costs on low-income households. Māori, Pasifika and low-income households have also experienced slower rates of improvement in many health and education results. NZ governments have made improving outcomes for disadvantaged groups a top priority in recent years. Reforms are being made to facilitate the transition of welfare beneficiaries into work, increase the supply of affordable and social housing and enhance health and education outcomes for disadvantaged groups. These reforms go in the right direction and, in many cases, would be more effective still if complemented by other reforms.
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  • 57
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (42 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1257
    Schlagwort(e): Export ; Produktivitätsentwicklung ; Internationaler Wettbewerb ; Wirtschaftliche Anpassung ; Strukturpolitik ; Portugal ; Economics ; Portugal ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: In the years before the economic crisis, Portugal had low growth, a decline in export competitiveness and rising imbalances that included a large current account deficit and a strong expansion of the non-tradable sector. Strengthening export performance is therefore one of the principal challenges for Portugal. A successful rebalancing of the economy is underway since Portugal started an ambitious structural reform programme in 2011, but more needs to be done to build on the recent export success. This includes both measures to improve competitiveness, such as reforms in energy and services sectors, and measures to boost productivity growth, such as tax reform, improving the performance of the judicial system and better public support for research and development. Given that exporting firms are typically the top performers in their industry, and have been so even before becoming exporters, it is important to avoid policies that could slow down the possibilities for high-performing firms to gain market share, such as the extension of collective wage agreements or the design of tax credits for research and development activities. Support for small enterprises should also be designed to benefit start-ups with a strong growth performance, as well as firms that are increasing their participation in international trade.
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  • 58
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (13 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1259
    Schlagwort(e): 2006 - 2011 ; Wirtschaftsdaten ; Produktivitätsentwicklung ; Strukturpolitik ; Portugal ; Economics ; Portugal ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper provides empirical evidence on links between the productivity of Portuguese firms and a number of policy variables in Portugal. The analysis is based on a census of Portuguese manufacturing companies, covering more than 40,000 firms between 2006 and 2011. The results suggest that a number of these variables matter for firm performance, including the number of procedures required to start a business, a more extensive coverage of collective wage bargaining agreements, the tax burden, tax compliance costs and the number of procedures required to enforce a contract.
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  • 59
    Sprache: Englisch
    Seiten: Online-Ressource (55 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1269
    Schlagwort(e): Steuervergünstigung ; Einkommensverteilung ; Einkommensteuer ; Öffentliche Sozialleistungen ; Soziale Mobilität ; Irland ; Economics ; Ireland ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper analyses income inequality in Ireland using a new panel dataset based on the administrative tax records of the Revenue Commissioners for Ireland. High inequality at market incomes in Ireland by international standards appears to be driven by both ends of the income distribution. An analysis of income mobility over time shows it has been low at both ends of the income distribution, though it increased at the low end once the crisis began, reflecting the sharp deterioration of the labour market. The data confirms that the tax system is highly progressive at the high end of income distribution and the welfare system provides the most significant support to lower income deciles in Ireland. The redistributive function in the tax and benefit system was enhanced during the last decade, not only because more income support was necessitated with the crisis, but also because of steeper and more progressive tax rates. This working paper relates to the 2015 OECD Economic Survey of Ireland (www.oecd.org/eco/surveys/economic-survey-ireland.
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  • 60
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (44 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1188
    Schlagwort(e): Rechtsordnung ; Wirtschaftswachstum ; Produktivitätsentwicklung ; Regulierung ; Wirtschaftsreform ; Mexiko ; Economics ; Mexico ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Mexico has embarked on a bold package of structural reforms that will help it to break away from three decades of slow growth and low productivity. Major structural measures have been legislated to improve competition, education, energy, the financial sector, labour, infrastructure and the tax system, among many, and implementation has started in earnest. If fully implemented, these reforms could increase annual trend per capita GDP growth by as much as one percentage point over the next ten years, with the energy reforms having the most front-loaded effects. Beyond this, a second wave could go further to tackle other structural bottlenecks. These challenges include reducing stringent regulation – particularly at the local level – and addressing corruption and weak enforcement of legal rights. The justice system is often slow and inefficient. And in the agricultural sector, strict land use restrictions and the structure of subsidies promote inefficiency. Moving even closer towards OECD best practices could increase potential growth by another percentage point annually.
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  • 61
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (54 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1189
    Schlagwort(e): Produktivität ; Innovation ; Arbeitsmobilität ; Humankapital ; Lernen ; Gewerkschaft ; Arbeitslosenversicherung ; Bildungschancen ; Tarifverhandlungen ; Fachkräfte ; Berufsbildung ; Arbeitsmarktpolitik ; Russland ; Education ; Science and Technology ; Economics ; Russian Federation ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The labour market in Russia is very flexible. Firms adjust to economic shocks through wage cuts, working hour reductions and minimisation of non-wage labour costs. Workers react by changing jobs. This results in a high and stable overall employment rate, but also high wage inequality, informality and labour turnover, which limits incentives for firms to invest in human capital and productivity improvements. While educational attainment is very high, the education system needs to be strengthened to respond to the needs of a skill-based economy. School-employer cooperation is low and opportunities for higher education are unequally distributed. Adequate funding for education institutions is not assured everywhere while inefficiencies persist. Private spending on innovation is very low and Russia underperforms in terms of scientific outputs and patents. Support for low-tech innovation and technology adoption, especially among SMEs is narrow because of a bias towards large and high-tech projects, which however are only loosely related to Russian manufacturing capacity. Reform of the public R&D sector is incomplete, notably with respect to strengthening funding on a competitive basis.
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  • 62
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (40 S.) , graph. Darst., Kt.
    Serie: OECD Economics Department working papers 1191
    Schlagwort(e): Frauen ; Erwerbstätigkeit ; Unternehmensgründung ; Gleichberechtigung ; Indien ; Social Issues/Migration/Health ; Economics ; Industry and Services ; India ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper examines the nature and determinants of female entrepreneurship in India based on survey data. The first part assesses basic characteristics of female entrepreneurship in India, while the subsequent sections analyse key determinants of female entrepreneurship based on the literature, and test their importance at the state level in India with the support of regressions on panel-data. It also reviews existing policies bearing on female entrepreneurship and makes recommendations for further policies in this area. Entrepreneurship can create new economic opportunities for women and contribute to overall growth and exit from poverty. The potential flexibility in time use from entrepreneurship can also facilitate balancing work and family obligations for women. However, entrepreneurs, both male and female, are relatively scarce in India compared to peer countries, and tend to work in small units often outside the formal sector. While many of the barriers to entrepreneurship are common to both genders (access to capital and business networks, adequate training and facilities) female entrepreneurs face gender biases stemming from socio-economic factors or specific biases in laws such as inheritance laws.
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  • 63
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (21 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1193
    Schlagwort(e): Verkehrsinfrastruktur ; Umweltstandard ; Transportmanagement ; Verkehrssicherheit ; Wettbewerb ; Russland ; Economics ; Russian Federation ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Transport can play an important role in promoting growth, diversification and regional convergence. However, with insufficient investment and incomplete structural reforms, Russia faces very large challenges in modernising its large transport system. Urban transport problems are intensifying, because of weak policy coordination and inadequate traffic management. Promoting competition in the transport sector is essential, in particular by effectively opening the railway freight market to independent operators. This Working Paper relates to the 2013 Economic Survey of the Russian Federation (www.oecd.org/eco/surveys/economic-survey-russian-federation.htm).
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  • 64
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (47 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1197
    Schlagwort(e): Wirtschaftswachstum ; Soziale Ungleichheit ; Gesundheitspolitik ; Bildungspolitik ; Mexiko ; Economics ; Mexico ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: In 2013 the Mexican government embarked on a major reform agenda which, if fully implemented and pushed forward, will help Mexico break out from a recent history of economic stagnation and high levels of poverty and inequality that has hampered the quality of life of its citizens. Indeed, compared with other OECD countries, Mexico performs poorly in indicators that are essential to a good life, often resulting in traps that hinder growth and well-being. The government has introduced major structural reforms to fight poverty, improve the quality of education, create more jobs in the formal sector and move towards a universal social security system. This is a substantial accomplishment. However, Mexico needs to build a more inclusive state. This implies raising more tax revenue (without necessarily increasing tax rates) to expand social protection. It also means promoting an inclusive labour market to reduce informality and increase female labour market participation; inclusive schools to reduce educational gaps; inclusive health systems so that health care quality no longer depends on employment status; and inclusive cities to reduce geographical segregation. This Working Paper relates to the 2015 OECD Economic Survey of Mexico (www.oecd.org/eco/surveys/economic-survey-mexico.htm).
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  • 65
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (61 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1201
    Schlagwort(e): Finanzkrise ; Wirtschaftsreform ; Wirtschaftswachstum ; Stabilisierungspolitik ; Haushaltsökonomik ; Mikrodaten ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Economic policies shape how much people earn as well as how stable their income and jobs are. The level and stability of earnings both matter for well-being. Standard economic aggregates do not measure accurately the economic uncertainty which households are facing. This paper shows that household-level economic instability is only very loosely related to macroeconomic volatility. It uses several household-level databases to document how pro-growth reforms influence household-level economic stability. Movement from less to more productive processes and firms is at the heart of economic growth, which suggests a trade-off between growth and micro-level stability. Certain policy changes boost growth but increase micro-level instability: they include reductions in tax progressivity or social transfers (including unemployment benefits) as well as moves from very to moderately tight restrictions on the flow of goods and services and on the dismissal of regular workers. However, the analysis also uncovers that moving to highly competitive policies generally reduces micro-level instability.
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  • 66
    Sprache: Englisch
    Seiten: Online-Ressource (26 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1202
    Schlagwort(e): Finanzbeziehungen ; Kolumbien ; Economics ; Colombia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Colombia has engaged in a sustained process of fiscal decentralisation over the past decades. This paper analyses three aspects of fiscal performance for Colombia’s departments. First, it studies the sustainability aspects of subnational finances by estimating a fiscal reaction function. Evidence is presented that the current framework is conducive to fiscal sustainability, especially after the reforms in the late 1990s and early 2000s. Second, the paper analyses the impact of transfers and oil and mining royalties and the effort to raise own tax revenues at the departmental level. Overall, there is little evidence of a negative effect of transfers from the central government on departmental tax revenue, the so-called “fiscal fatigue”. Finally, the paper presents evidence of a limited degree of risk sharing of departmental idiosyncratic shocks, as transfers from the central government are mostly pro-cyclical. This Working Paper relates to the 2014 OECD Economic Survey of Colombia. (www.oecd.org/eco/surveys/economic-survey-colombia.htm)
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  • 67
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (30 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1204
    Schlagwort(e): Unternehmensbesteuerung ; Steuerbelastung ; Investitionsentscheidung ; Kolumbien ; Economics ; Colombia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The Colombian corporate tax system is highly complex and distortive. The effective tax burden on businesses is very high due to the combined effect of the corporate income tax, the corporate surtax introduced in 2012 (CREE), the net wealth tax on business assets and the value added tax (VAT) on fixed assets. Indeed, in addition to high statutory taxes on corporate income, formal sector businesses are subject to a wealth tax on their net assets and to a production-based VAT system under which VAT paid on the purchases of fixed assets is not creditable against output VAT. Calculations in this paper find that the total marginal effective tax rate reaches about 60% for equity-financed investments. Such a high effective corporate tax burden is likely to deter investment and to further encourage tax evasion in the future and therefore calls for a fundamental business tax reform. This paper also reviews the other key elements of the capital income tax system in Colombia. This Working Paper relates to the 2014 OECD Economic Survey of Colombia (www.oecd.org/eco/surveys/economic-survey-colombia.htm)
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  • 68
    Sprache: Englisch
    Seiten: Online-Ressource (64 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1207
    Schlagwort(e): Gleichberechtigung ; Frauen ; Erwerbstätigkeit ; Indien ; Economics ; India ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The low and declining female labour force participation rate in India despite strong growth over the past decade is puzzling and stands out among emerging markets. At the same time greater economic participation of women can be a source of inclusive growth, and wellbeing. Assessing determinants of the labour force participation of women in India can open important policy insights. This paper first describes key employment trends in India by gender. Then the potential determinants of female labour force participation are identified based on literature, basic statistics and econometric techniques. Given the large regional differences in India the analysis is also conducted by region and between rural and urban areas. In contrast to other BRIICs or OECD countries, education and incomes are negatively correlated with female labour for participation in India. Apart from lack of jobs, social and cultural factors keep women outside the labour force. Other determinants relate to infrastructure, access to finance, labour laws and rural employment programmes. This Working Paper relates to the 2014 OECD Economic Survey of India (www.oecd.org/eco/surveys/economic-survey-india.htm).
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  • 69
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (28 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1215
    Schlagwort(e): Wissenstransfer ; Infrastruktur ; Produktivität ; Energieeinsparung ; Innovation ; Wirtschaftswachstum ; Estland ; Economics ; Estonia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Estonia can revitalise productivity growth and reap more benefits from its openness. Productivity is relatively low in manufacturing and in large firms, as the manufacturing sector focuses on low-technology goods exports to only a small number of destinations. The economic impact of the Estonian R&D system still appears to be limited, also because of a lack of knowledge transfer. Building on Estonia’s favourable business environment, productivity growth could be raised by promoting smart specialisation and innovation; removing remaining barriers to entrepreneurship and competition; ensuring access to finance for SMEs; upgrading infrastructure; and improving energy efficiency. This Working Paper relates to the 2014 OECD Economic Survey (www.oecd.org/eco/surveys/economic-survey-estonia.htm).
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  • 70
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (39 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1218
    Schlagwort(e): Agrarreform ; Ländliche Entwicklung ; Soziale Sicherheit ; Urbanisierung ; Landflucht ; China ; Economics ; China, People’s Republic ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Urbanisation will continue in China, with the government planning to grant urban residential status to an additional 100 million rural workers by 2020. While this process is transforming the urban economy, the rural economy is also undergoing substantial structural change. Government policy settings in rural areas are critical for smoothing the transition and helping bridge the gap in living standards between urban and rural China. Reforms should further enable farmers who wish to continue working in the agricultural sector to raise productivity levels. Specific measures include encouraging land transfer, promoting further rural financial development and technical assistance for farmers. At the same time, obstacles should be removed for those rural residents aspiring to move to jobs in cities where their skills can yield a higher marginal product. For those who remain in rural areas, improved social welfare systems and investment in health services are critical. This Working Paper relates to the 2015 OECD Economic Survey of China www.oecd.org/eco/surveys/economic-survey-china.htm
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  • 71
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (28 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1220
    Schlagwort(e): Fachkräfte ; Bildungschancen ; Berufsbildung ; Berufsbildende Schule ; Akademiker ; Familienstruktur ; Bildungsfinanzierung ; China ; Economics ; China, People’s Republic ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: In recent years, many tertiary graduates have had difficulties finding a job, while factories have been struggling to recruit workers. Notwithstanding rapidly increasing education attainment, graduates’ skills do not seem to match those demanded by the market. Moreover, structural changes in the economy aggravate the shortage of skills in newly emerging industries. While the problem is widely recognised, empirical studies of the issue are scarce and the skills gap has not been quantified. This paper aims at gaging the skills and knowledge gap of tertiary graduates of universities and vocational colleges across China. It also looks at the employment and wage prospects of graduates with different educational backgrounds. Inequalities in educational opportunities, stemming in particular from the urban-rural divide and to a lesser extent from the social background, shape careers and lives. The best primary and middle schools are located in the biggest cities and until recently children competed for a place at such schools. In third and fourth-tier cities or in rural areas, in contrast, there are fewer choices and thus less chance to get into a “model” high school or a top university. The family background also tends to have an impact on the choice of a school or profession and on future earnings. This paper discusses various aspects of inequalities related to the place of upbringing, family background and geographical area. Micro-level data analysis is complemented by an investigation into inequalities of various aspects of education at the city and county levels. This Working Paper relates to the 2015 OECD Economic Survey of China www.oecd.org/eco/surveys/economic-survey-china.htm
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  • 72
    Sprache: Englisch
    Seiten: Online-Ressource (16 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1221
    Schlagwort(e): 2000 - 2011 ; Produktivitätsentwicklung ; Arbeitsproduktivität ; Produktionspotenzial ; Industrie ; Dienstleistung ; BRICS-Staaten ; Indonesien ; China ; Economics ; China, People’s Republic ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The Chinese economy has been undergoing fundamental structural changes since the start of reforms in 1978. An increasing number of farmers first got engaged in off-farm activities and then started to migrate to cities in the 1990s in search of jobs. Such movement of labour from less to more productive jobs boosted overall labour productivity and growth. Agglomeration and scale economies further pushed up productivity. While the productivity gains from internal migration will diminish gradually over time, urbanisation is likely to remain an important source of productivity growth in the coming decade or so. This paper first decomposes labour productivity growth over 2000-11 into a within-industry, a shift and a cross effect in a number of countries and compares China with other countries over this period. This shift-share analysis also allows a comparison of within-sector productivity gains across a large number of sectors and countries. Labour productivity alongside total factor productivity is also discussed from the perspective of its gap with the United States and growth rate over 2000-11 and in comparison with other BRIICS economies. In this analysis, manufacturing and service industries are looked at separately. This Working Paper relates to the 2015 OECD Economic Survey of China www.oecd.org/eco/surveys/economic-survey-china.htm
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  • 73
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (35 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1228
    Schlagwort(e): Öffentliche Schulden ; Volkswirtschaftliche Gesamtrechnung ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: There is no single “best” indicator for analysing general government debt. This paper examines the various issues in defining and measuring debt, and explores other data which could be useful, both within and beyond the general government debt concept, to better track and analyse fiscal risks and sustainability issues. Measures from the broadest view of debt – gross financial liabilities – to the most comprehensive accounting of asset and liability positions – net worth – are all helpful metrics. So, too, are narrower data on specific issues, such as future pension liabilities, government guarantees and debt composition. Better data reporting, including more complete metadata and broader data collection, are needed to allow for an arsenal of comparable debt concepts to better anticipate future fiscal pressures.
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  • 74
    Sprache: Englisch
    Seiten: Online-Ressource (35 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1231
    Schlagwort(e): Inflationserwartung ; Phillips-Kurve ; Arbeitslosigkeit ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Inflation has become much less sensitive to movements in unemployment in recent decades. A common explanation for this change is that inflation expectations have become better anchored as a consequence of credible inflation targeting by central banks. In order to evaluate this hypothesis, the paper compares two competing empirical specifications across all OECD economies, where competing specifications correspond to the ‘former’ and ‘new’ specification for deriving measures of the unemployment gap which underlie the OECD’s Economic Outlook projections. The former OECD specification can be characterised as a traditional ‘backward-looking’ Phillips curve, where current inflation is partly explained by an autoregressive distributed lag process of past inflation representing both inertia and inflation expectations formed on the basis of recent inflation outcomes. Conversely, the new approach adjusts this specification to incorporate the notion that inflation expectations are anchored around the central bank’s inflation objective. The main finding of the paper is that the latter approach systematically out-performs the former for an overwhelming majority of OECD countries over a recent sample period. Relative to the backward-looking specification, the anchored expectations approach also tends to imply larger unemployment gaps for those countries for which actual unemployment has increased the most. Moreover, the anchored expectations Phillips curve reduces real-time revisions to the unemployment gap, although these still remain uncomfortably large, in the case of countries where there have been large changes in unemployment.
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  • 75
    Sprache: Englisch
    Seiten: Online-Ressource (44 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1238
    Schlagwort(e): 1984 - 2007 ; Produktivitätsentwicklung ; Spillover-Effekt ; Wirtschaftswachstum ; Schumpeterismus ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: For much of the second half of the twentieth century, labour productivity grew rapidly in most OECD economies, fuelled by the adoption of a large stock of unexploited existing technologies. However, the slowdown in productivity growth over the past decade underscores the idea that as economies converge toward the global technological frontier, the ability to capitalise on new innovations developed at frontier becomes more important. Using industry level data for 15 countries over the period 1984-2007, this paper augments the neo-Schumpeterian framework to identify the relevant channels and policies that shape an economy’s ability to learn from the global productivity frontier. An economy’s ability to benefit from frontier innovation is a positive function of its degree of international connectedness, ability to allocate skills efficiently and investments in knowledge based capital, including managerial capital and R&D. Productivity growth, via more effective learning from the global frontier, is supported by a policy framework that promotes efficient resource allocation – including lower barriers to entrepreneurship, efficient judicial systems and bankruptcy laws that do not overly penalise failure – and fosters the creation of markets for seed and early stage finance. Innovation policies that support basic research and facilitate the absorption of external knowledge for firms – including via university-industry R&D collaboration – also enhance spillovers from the global productivity frontier, and consequently, productivity growth.
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  • 76
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (19 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1243
    Schlagwort(e): Finanzsystem ; Kapitalstruktur ; Privatisierung ; Corporate Governance ; Finanzmarktaufsicht ; Slowenien ; Economics ; Slovenia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Excessive credit growth, poor risk assessment and lax lending standards in the run up to the 2008 global crisis led to unsustainable debt build-up in banks and related corporates. A weak framework for the governance of largely state-owned banks is likely to have contributed to the misallocation of credit. Furthermore, there were weaknesses in the banks' risk management systems and banks often didn’t properly adhere to regulations and guidance given by the supervisor. Following the results of the stress tests and the Asset Quality Review, in December 2013, the major state-owned banks were recapitalised at a cost of around 11% of GDP, and part of their non-performing loans (NPLs) transferred to the Bank Asset Management Company (BAMC). Banks nevertheless remain weak, with still high NPLs, and corporations are highly leveraged. For successful restructuring and liquidation of assets, BAMC needs to act independently, transparently, with corporate governance of highest standards. Privatisation can improve corporate governance and closer supervision can ensure better compliance by banks. Insolvency legislation was thoroughly reformed in 2013 and should be implemented effectively to help return the healthy parts of the economy to invest and grow again. This Working Paper relates to the 2015 OECD Economic Survey of Slovenia (www.oecd.org/eco/surveys/economic-survey-slovenia.htm).
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  • 77
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (45 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1248
    Schlagwort(e): 1917 - 2013 ; Finanzbeziehungen ; Finanzpolitik ; Finanzverfassung ; Empirische Methode ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Fiscal constitutions comprise the set of rules and frameworks guiding fiscal policy that are enshrined in a country’s fundamental laws. This paper compares the fiscal constitutions of 15 federal countries by empirically assessing five building blocks: 1) the power of sub-national governments to conduct their own fiscal policy; 2) the degree to which sub-national governments are held responsible for fiscal policy outcomes; 3) the extent to which sub-national governments can shape fiscal policy of the federal level; 4) the strength of intergovernmental budget rules; and 5) the stability of fiscal policy arrangements. The results can be summarised as follows: Countries can be ranked along a single indicator, namely the degree of constitutionally guaranteed decentralisation. They can also be ranked along an indicator of institutional coherence which measures the extent to which building blocks “fit together”. From 1917 to 2013, fiscal autonomy and responsibility declined – except in the 80s and 90s of the 20th century – while co-determination and budget frameworks were strengthened, and institutional coherence rose. Simple correlations suggest that the extent of decentralisation hardly affects fiscal outcomes such as deficits, debt or vulnerability to crises, while institutional coherence (or incoherence for that purpose) does.
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  • 78
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (45 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1251
    Schlagwort(e): Finanzkrise ; Vulnerabilitätsanalyse ; Coping-Strategie ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The global financial crisis highlighted the importance of strengthening the resilience of our economies to adverse shocks. In this paper, we take stock of studies carried out primarily within, but also outside the OECD, to better understand the role of macroeconomic and structural policies in spurring or mitigating the vulnerabilities that can lead to costly shocks, as well as the role of policies in mitigating the shock impact and speeding the recovery. Then we offer tentative insights on how policies can be geared to address vulnerabilities early on, mitigate the impact of shocks and speed recoveries, as well as highlight possible trade-offs that exist across policy areas.
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  • 79
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (36 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1255
    Schlagwort(e): Produktivitätsentwicklung ; Insolvenz ; Internationaler Wettbewerb ; Handelshemmnisse ; Technologiepolitik ; Lettland ; Economics ; Latvia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Much of the convergence of the Latvian economy needs to come from productivity increases. To achieve this, policy makers should do more to facilitate the integration of the economy into global trade and promote competitive business environment. By benchmarking Latvia vis-à-vis the other Baltic but also some CEE peers, this paper identifies potential for decreasing the regulatory burden, removing trade and investment barriers and strengthening the competitive business environment as well as general framework conditions such as judiciary and access to finance. Furthermore, to ensure that knowledge transfer – essential for increasing productivity – does take place, reforms of the vocational education and training system, of lifelong learning and of policies for research and development, currently under implementation, have yet to deliver.
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  • 80
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (39 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1260
    Schlagwort(e): Erwachsenenbildung ; Dienstleistungsqualität ; Berufsbildung ; Betriebliche Ausbildung ; Frankreich ; Education ; Economics ; France ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: France devotes a great deal of resources to vocational training for youths and especially adults, but the system is unduly complex and yields rather poor returns. The basic literacy and numeracy skills of many French adults remain weak in international comparison, with harmful effects on employment opportunities, wages and well-being. Access to basic skills training is poor for those who need it most, many of whom come from disadvantaged socio-economic backgrounds. Secondary vocational education and apprenticeship training still suffer from a serious image problem in the minds of French families, even though the latter have a good track record. The government has succeeded in ensuring that the number of apprenticeships is growing, but that is mostly due to those studying at the tertiary level or at least for a higher secondary diploma. The labour market outcomes of those with only shorter vocational qualifications are not good, and quality in that stream needs to improve. To do so better teachers and workplace trainers need to be attracted to the field, especially individuals who can better link practical experience and theoretical concepts. The financing of the adult training system involves complex collection mechanisms even following a major recent overhaul. Making further changes will have to confront entrenched interests, even if the use of the training levy to finance business groups and unions has now ended. The goal is to direct more training funds to workers in small firms who have the weakest skills as well as to jobseekers, but this might be more easily achieved by shifting the funding base from a levy on employers to fiscal incentives or direct subsidies. There remains a need to align responsibilities for adult training with corresponding control over funds. Workers are henceforth to be given personal training accounts in which they can accumulate rights to up to 150 hours of training. But the enormous number of providers and courses on offer calls for greater efforts to develop good guidance, evaluation and certification systems to ensure the training finally chosen is appropriate and of sufficiently high quality.
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  • 81
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (40 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1262
    Schlagwort(e): Soziale Sicherheit ; Gesundheitsversorgung ; Geldpolitik ; Stabilisierungspolitik ; Finanzpolitik ; Japan ; Economics ; Japan ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: With gross government debt of 226% of GDP, Japan’s fiscal situation is in uncharted territory and puts the economy at risk. Japan needs a detailed and credible fiscal consolidation plan, including specific revenue increases and measures to control spending to restore its fiscal sustainability. The major concern on the spending side are social spending pressures in the context of rapid population ageing, making reforms to contain such spending a priority. Much of the consolidation, though, will have to be on the revenue side, primarily through hikes in the consumption tax rate beyond the 10% now planned for 2017. Fiscal consolidation should be accompanied by measures to promote social cohesion through the tax and benefit system and by breaking down labour market dualism. In particular, an earned income tax credit is a priority to assist the working poor.
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  • 82
    Sprache: Englisch
    Seiten: Online-Ressource (74 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1264
    Schlagwort(e): long run ; Flexibilität ; Wirtschaftliche Anpassung ; Anpassungskosten ; Bibliometrie ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This survey highlights the key results of the empirical literature concerning the costs of flexibility enhancing reforms in product and labour markets. The documented costs include reduced employment, loss of government revenue, undesirable distributional consequences and political instability. The literature suggests that: i) once implemented, product and labour market reforms affect prices and quantities quite rapidly; ii) there are no major differences between the overall effects in the short and long run; iii) the costs of reforms are very much related to interactions with other policies and institutions; and iv) the costs of reforms change over the business cycle.
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  • 83
    Sprache: Englisch
    Seiten: Online-Ressource (52 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1267
    Schlagwort(e): Wirtschaftswachstum ; Internationaler Wettbewerb ; Produktivitätsentwicklung ; Regulierung ; Erwerbstätigkeit ; Kaufkraftparität ; Frankreich ; Economics ; France ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Over the past decade, France has substantially eased the burden of anti-competitive regulations and effectively enforced competition law against anti-competitive practices. Various sectors have been opened up more widely to competition, and the powers of the Competition Authority have been strengthened. However, the administrative procedures involved in starting a business remain lengthy, and the number of regulations and rules is substantial, while their potential impact on competition is not fully taken into account when they are drawn up and implemented. Recent streamlining initiatives are welcome but remain limited. Meanwhile, the territorial fragmentation of public procurement procedures, which could decline following ongoing reforms, impairs their efficiency and entry and operating requirements appear to go beyond consumer protection in several regulated professions, such as in legal services and health care. In the retail sector, recent reforms have significantly relaxed negotiating conditions between suppliers and retailers, and Sunday trading is intended to be partly liberalised. However, the ban on resale below cost has not been challenged, nor the tight rules controlling commercial zoning. Individual shops that contract with superstore chains cannot change chain easily. Of the network industries, it is in the telecommunications sector that competition has made the most progress, and there is room for further improvements in transport and energy. This Working Paper relates to the 2015 OECD Economic Survey of France (www.oecd.org/eco/surveys/economic-survey-france.htm).
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  • 84
    Sprache: Englisch
    Seiten: Online-Ressource (65 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1271
    Schlagwort(e): Erwerbstätigkeit ; Arbeitskräftepotenzial ; Arbeitslosigkeit ; Arbeitsmarktpolitik ; Aggregation ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper presents a first set of updates and extensions of the large body of existing evidence about the aggregate labour market impact of structural policies, in the context of enhancing the OECD’s supply-side framework for the quantification of reform packages. In line with previous findings, elements of the tax benefit system, activation policies and wage setting institutions are found to be robust policy determinants of the aggregate employment and unemployment rates. Looking beyond the overall employment impact, outcomes for vulnerable groups such as the low educated, the youth and the elderly tend to be more affected by certain structural policies, including specific measures targeted at them. Finally, more competition-friendly product market regulations are also found to impact aggregate employment rates positively and significantly, although less robustly.
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  • 85
    Sprache: Englisch
    Seiten: Online-Ressource (33 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1105
    Schlagwort(e): Wohlfahrtsanalyse ; Einkommensverteilung ; Lohn ; Gesundheitsversorgung ; Rentenpolitik ; Steuerpolitik ; Bildungspolitik ; Öffentliche Sozialleistungen ; Brasilien ; Social Issues/Migration/Health ; Economics ; Brazil ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Brazil has made remarkable progress in reducing poverty and inequality. This reduction is explained by strong growth but also by effective social policies. Besides growth, public services and cash transfers have played the biggest role, the latter notably through the successful “Bolsa Familia” programme. Among public services, improved access to education has played a major role, allowing more Brazilians to move into better-paid jobs. However, shortages in physical school infrastructure are limiting the hours of instruction that students receive. The high drop-out rate needs to be reduced through early interventions such as expanding early-childhood education, by reducing grade-repetition and through more tailored support for those at risk. The quality of teaching could also be raised through more in-service teacher training and stronger performance incentives for teachers. Performance of public services devoted to health and transports has been mixed. Public health services are widely available but suffer from underfunding and training places for medical staff need to be expanded. The public urban transport system suffers from a shortage of investment which is urgently needed to upgrade capacity. Regarding cash transfers, the success of “Bolsa Familia” and new programmes put in place under the umbrella of the “Brasil sem Miseria” programme is remarkable but transfer payments remain too heavily focused on pension benefits. Giving more priority to “Bolsa Familia” and “Brasil sem Miseria” while limiting the real growth of pension expenditures in the future would improve the effectiveness of social expenditures for reducing poverty and inequality. This Working Paper relates to the 2013 OECD Economic Survey of Brazil (www.oecd.org/eco/surveys/brazil).
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  • 86
    Sprache: Englisch
    Seiten: Online-Ressource (90 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1107
    Schlagwort(e): Finanzkrise ; Wirtschaftslage ; Wirtschaftsprognose ; Inflation ; Prognoseverfahren ; Finanzpolitik ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper assesses the OECD’s projections for GDP growth and inflation during the global financial crisis and recovery, focussing on lessons that can be learned. The projections repeatedly over-estimated growth, failing to anticipate the extent of the slowdown and later the weak pace of the recovery – errors made by many other forecasters. At the same time, inflation was stronger than expected on average. Analysis of the growth errors shows that the OECD projections in the crisis years were larger in countries with more international trade openness and greater presence of foreign banks. In the recovery, there is little evidence that an underestimate of the impact of fiscal consolidation contributed significantly to forecast errors. Instead, the repeated conditioning assumption that the euro area crisis would stabilise or ease played an important role, with growth weaker than projected in European countries where bond spreads were higher than had been assumed. But placing these errors in a historical context illustrates that the errors were not without precedent: similar-sized errors were made in the first oil price shock of the 1970s. In response to the challenges encountered in forecasting in recent years and the lessons learnt, the OECD and other international organisations have sought to improve their forecasting techniques and procedures, to improve their ability to monitor near-term developments and to better account for international linkages and financial market developments.
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  • 87
    Sprache: Englisch
    Seiten: Online-Ressource (32 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1109
    Schlagwort(e): Wirtschaftswachstum ; Prognoseverfahren ; Wirtschaftsindikator ; BRICS-Staaten ; Indonesien ; G7-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper extends the OECD Economics Department’s suite of short-term indicator models for quarterly GDP growth, which currently cover only the G7 countries, to the BRIICS countries. Reflecting the relative scarcity of high-quality macroeconomic time series, the paper adopts a small-scale bridge model approach. The results suggest that in terms of short-term forecast accuracy for the first and second quarter following the most recent GDP release these models outperform simple autoregressive or constant growth benchmarks. The small-scale indicator models would have allowed the identification of the growth slowdown during the global crisis of 2008-09 and the subsequent rebound several months ahead of official GDP releases. Overall, forecast accuracy appears to be similar to that of the existing indicator model suite for the G7 countries, especially once the higher GDP growth volatility in most BRIICS is accounted for.
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  • 88
    Sprache: Englisch
    Seiten: Online-Ressource (23 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1110
    Schlagwort(e): 2010 - 2012 ; Außenhandel ; Wirtschaftswachstum ; Spillover-Effekt ; Schwellenländer ; Industrieländer ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Growth in emerging market economies (EMEs) is set to durably slow from the rates observed over 2010-12 as cyclical effects fade, potential growth declines and external financing conditions tighten. Large negative current account balances make some EMEs vulnerable to sudden reversals in capital flows while exceptionally rapid credit expansions, as those observed in Brazil, China, Poland and Turkey over the past years, may have raised financial risk. This paper assesses recent developments and vulnerabilities in EMEs and uses macroeconometric model simulations to provide quantitative estimates of spillovers to highincome countries. The results suggest that for each slowdown of 2 percentage points in EMEs, highincome countries’ growth could be around ⅔ percentage points lower on average, with around ½ percentage point accounted for by trade. Experience with past EME crises suggests that this could be exacerbated by effects from exchange rates and by financial market turbulence. OECD countries which would be hit hardest include Belgium, Japan and the Netherlands, reflecting mainly strong trade linkages with EMEs.
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  • 89
    Sprache: Englisch
    Seiten: Online-Ressource (44 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1116
    Schlagwort(e): Geldpolitik ; Spillover-Effekt ; Finanzmarkt ; Finanzkrise ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The prospective normalisation of monetary policies in the main OECD areas will be challenging given that current policy rates are likely to be significantly below neutral levels and that central bank balance sheets will be above the pre-crisis levels by a wide margin. Monetary policy normalisation is likely to start in the United States before other main OECD areas, with potential global spillovers, as was already experienced in mid-2013 when the mere discussion of tapering unsettled global financial markets. A gradual increase in interest rates, in the context of strong growth and rising equity values, would contribute to a balanced US recovery and have a benign impact on the rest of the world. However, a rapid rise in bond yields would risk generating instability in the US shadow banking sector, and the financial system more generally, even if banks seem increasingly resilient to such a shock. Although model simulations suggest that a large and protracted government bond yield shock would not have large trade spillovers in the absence of crisis events in the United States or abroad, an induced increase in bond yields in other countries, together with an induced large decline in equity prices, would have a sizeable effect on the OECD and largest emerging market economies. The latter countries are particularly vulnerable to such spillovers given their generally less liquid financial markets and, in some cases, weak fundamentals related to the banking system and external financing. In the United States, the authorities should aim at managing smoothly the exit and at strengthening the resilience of shadow banking institutions so that the risk of liquidity-induced fire sales is reduced. This should be accompanied in other countries by measures to increase the resilience to interest rate shocks, and when the shock occurs, allowing exchange rates to adjust flexibly and implementing offsetting fiscal measures if scope is available.
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  • 90
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (38 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1122
    Schlagwort(e): Fachkräfte ; Qualifikation ; Steuer ; Zweiter Arbeitsmarkt ; Bildung ; Wohnung ; Verkehr ; Ungarn ; Employment ; Economics ; Hungary ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Significant labour market mismatches and insufficient mobility penalise employment and productivity. Mismatches have above all a skills dimension, with an excess of low-skilled workers and a possible lack of skilled workers in certain domains. Reducing the high tax wedge on low salaries and avoiding excessive minimum wage increases would support demand for low-skilled labour. In the longer term, upgrading the labour supply requires improving educational outcomes, especially of disadvantaged students, and making the school-to-work transition less abrupt. To facilitate good matching and enhance sectoral mobility, a somewhat longer duration of unemployment benefits and an upscaled Public Employment Service would be of value, as well as greater focus on reintegration in the public works programme and more efficient and developed lifelong learning. Besides skills mismatches, important geographic mismatches are illustrated by high and persistent regional disparities in the unemployment rate. Mobility is hampered by the underdevelopment of the rental housing market, while there is room to enhance the efficiency of public transport to further support commuting.
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  • 91
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (48 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1124
    Schlagwort(e): Erwerbstätigkeit ; Arbeitnehmerschutz ; Rentenpolitik ; Arbeitsmarktpolitik ; Arbeitsvermittlung ; Bildung ; Arbeitslosigkeit ; Arbeitsmarkt ; Polen ; Employment ; Economics ; Poland ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Poor labour-market outcomes remain one of Poland’s major structural weaknesses, impeding firms’ competitiveness and the nation’s potential output. Boosting employment prospects is also critical, as the country will soon be ageing at a fast pace. Despite long working hours, labour utilisation is only average due to structurally low employment rates, particularly at both ends of the age spectrum, with some marked regional differences. The female employment rate is especially low, in part due to poorly designed family and pension policies. Insufficient product-market competition and obstacles to internal mobility induce significant resource misallocation. Employment protection is not particularly stringent, but the labour market is nonetheless heavily segmented. This is likely to weigh on economic performance by limiting investment in human capital and making some specific groups bear a large share of adjustment costs. Public employment services suffer from a lack of resources and function inefficiently. Local labour offices have limited incentives to adopt best practices; the government plans to start benchmarking them. There is ample scope to tighten jobseeker obligations and reform social and tax policies to make work pay. This Working Paper relates to the 2014 OECD Economic Survey of Poland (www.oecd.org/eco/surveys/economic-survey-poland.htm).
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  • 92
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (54 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1131
    Schlagwort(e): Arbeitslosenversicherung ; Arbeitslosigkeit ; Arbeitsverwaltung ; Arbeitsvermittlung ; Arbeitsmarktpolitik ; BRICS-Staaten ; Indonesien ; OECD-Staaten ; Employment ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Unemployment insurance is a key tool for risk sharing and redistribution and also a prominent automatic stabiliser. It is a volatile spending item by design, which can lead to vulnerabilities. This paper explores various shocks and sources of vulnerability of the unemployment insurance schemes of OECD and BRIICS countries. Policies that boost both financial resilience and benefit adequacy as well as policy trade-offs are explored. Four country clusters are identified with key similarities in the overall policy mix that can shed light on why some countries boast generous benefits and at the same time display high economic efficiency, while other countries face a much more pronounced trade-off.
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  • 93
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (49 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1133
    Schlagwort(e): Rentenfinanzierung ; Umlageverfahren ; Rentenreform ; OECD-Staaten ; Indonesien ; BRICS-Staaten ; Social Issues/Migration/Health ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Demographic developments are unfavourable for the financing of pension schemes in most OECD countries, implying continued growth in pension expenditure in virtually all OECD countries. This paper examines the vulnerability of pension systems, with an emphasis on financial sustainability and adequacy. Policy trade-offs and complementarities are reviewed and flanking policies which could underpin successful pension reforms are examined. Automatic adjustment mechanisms are highlighted, as are the roles of prudential regulation and buffer or reserve funds in the case of shocks. Pension system vulnerability indicators are presented for all OECD countries, and the challenges and vulnerabilities of pensions systems in the BRIICS countries are reviewed.
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  • 94
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (47 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1144
    Schlagwort(e): Frauen ; Lohnstruktur ; Arbeitsmarktdiskriminierung ; Bildung ; Personalführung ; Schweiz ; Education ; Employment ; Economics ; Switzerland ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Swiss women are now as well educated as their male counterparts. However, progress remains to be made in the job market where both the supply and price of female labour are below that of men. While the participation rate for women is high and rising, it is offset by a heavy incidence of part-time work, reflecting both personal preferences and factors that limit their labour supply. The lack and high cost of childcare options for parents, as well as burdensome marginal income tax rates for second earners, create disincentives to work more. A falling but persistent net (i.e. unexplained) wage gap of about 7% in favour of men, coupled with under-representation of women as managers and entrepreneurs, further reduce the incentive for women to take full advantage of their high levels of human capital. Priority should be given to removing those barriers by increasing public spending on childcare and out-of-school-hours care at the cantonal and municipal levels. Existing regulations regarding childcare provision should also be investigated to see whether a broader range of price and quality childcare options is feasible. The implicit tax penalty for married women should also be removed, as the Federal Council is currently considering. More flexibility in working arrangements could further alleviate women’s cost of reconciling work and family life. For instance, facilitating flexi-time, annualised hours, job-sharing, part-time and telework options for both women and men, and creating paternity and/or consecutive, take-it-or-leave-it parental leave could facilitate transition in and out of the labour market. Increasing competition in product markets should help reduce the wage gap by replacing old habits with the hunt for talent regardless of gender. Finally, a corporate governance code in favour of a more equal representation of women in leadership positions, and setting ambitious quantitative targets for women on boards combined with the “Comply or Explain” practise, or quotas, should help remove the so-called glass ceiling. This Working Paper relates to the 2013 OECD Economic Review of Switzerland (www.oecd.org/eco/surveys/Switzerland).
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  • 95
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (32 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1149
    Schlagwort(e): Rohstoff ; Ökonomische Rente ; Verzerrende Steuer ; Erschöpfbare Ressourcen ; Steuereinnahmen ; Energy ; Environment ; Taxation ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This study analyses the economic rent generated by the exploitation of a non-renewable resource, and the taxation of this rent. We present a synthetic model of a non-renewable-resource sector where deposits must be costly developed before they are exploited; the analysis emphasizes the effect of resource taxation on the discouragement to the development of new reserves. We discuss the limitations of neutral profit-taxation schemes and examine the distortions caused by various resource-taxation systems on the rent and its allocation: tax evasion, royalty-induced distortions, imperfect tax commitment, agency issues... We also discuss the measurement of resource rents for taxation purposes, and issues with the management of the resource tax income.
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  • 96
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (37 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1153
    Schlagwort(e): Altersarmut ; Soziale Mobilität ; Soziale Ungleichheit ; Öffentliche Sozialleistungen ; Altersvorsorge ; Arbeitsmarktsegmentation ; Südkorea ; Social Issues/Migration/Health ; Economics ; Korea, Republic of ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: To strengthen social cohesion, a top government priority, it is essential to address the labour market roots of inequality by breaking down dualism to reduce the share of non-regular workers and to boost the employment ratio toward the government’s 70% target. Education reforms are also important to enhance social mobility. Social welfare programmes should be improved to make them more effective, especially among the elderly, where the relative poverty rate is 49%. In addition, reforms are needed now to develop an effective three-pillar system of retirement income based on the National Pension Scheme, company pensions and individual savings. High household debt also has adverse implications for equity, as well as for growth, as individuals with low income and credit ratings have limited access to financial markets and many are delinquent on their loans. Policies to offer credit to such households and restructure their debt, while limiting moral hazard and developing market-based lending, are essential. This Working Paper relates to the 2014 OECD Economic Survey of Korea (www.oecd.org/eco/economic-survey-korea.htm).
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  • 97
    Sprache: Englisch
    Seiten: Online-Ressource (28 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1158
    Schlagwort(e): Finanzkrise ; Lebensqualität ; Zeitverwendung ; Arbeitsangebot ; Lohnniveau ; Lohnstruktur ; Öffentliche Sozialleistungen ; Arbeitszufriedenheit ; Bildung ; USA ; Social Issues/Migration/Health ; Economics ; United States ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper uses data from the American Life Panel to understand the determinants of well-being in the United States during the Great Recession. It investigates how various dimensions of subjective wellbeing reflected in the OECD Better Life Framework impact subjective well-being. The results show that income is an important determinant of subjective well-being. The unemployed and the disabled are significantly less satisfied with their lives than the working population, while the retired and the homemakers are more satisfied. The paper expands the existing evidence by showing that homeowners, registered voters and those with access to health insurance have higher levels of subjective well-being. Time spent walking or exercising is positively correlated with happiness, while working more than 50 hours per week or spending time on health-related activities is negatively correlated with subjective well-being, and higher levels of anxiety. This Working Paper relates to the 2014 OECD Economic Survey of United States (www.oecd.org/eco/surveys/economic-survey-united-states.htm)
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  • 98
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (37 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1162
    Schlagwort(e): KMU ; Kreativsektor ; Unternehmensgründung ; Risikokapital ; Crowdfunding ; Business Angels ; Börsengang ; Entrepreneurship ; Übernahme ; Südkorea ; Economics ; Industry and Services ; Korea, Republic of ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: The Korean government has made fostering a “creative economy” a top priority. The goal is to shift Korea's economic paradigm to one based on innovation in which new start-ups and venture businesses play a key role. However, the venture capital market is still at an early stage of development. To make venture investment a growth driver, it is important to expand the role of business angels, activate the merger-andacquisition market and foster entrepreneurship. A creative economy also depends on making SMEs, which account for 87% of employment, more dynamic. The productivity gap between large firms and SMEs, which benefit from a wide range of public support, is widening. SME policies should be streamlined and improved to promote market-based financing and reduce the negative effects of government funding programmes, which discourage the expansion of SMEs.
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  • 99
    Sprache: Englisch
    Seiten: Online-Ressource (46 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1161
    Schlagwort(e): Unternehmensbesteuerung ; Arbeitsmarkt ; Informelle Wirtschaft ; Produktivität ; Strukturwandel ; Wirtschaftswachstum ; Türkei ; Economics ; Industry and Services ; Turkey ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: Turkey’s business sector dynamism has underpinned broad-based and inclusive growth in the 2000s. However, the business sector is highly segmented, with a relatively small core of modern high-productivity corporations, and myriad small, less formal and low-productivity entities. This hampers efficient resource allocation and tends to entrench social inequalities. It also makes it difficult to build on-the-job human capital for the large number of low-skilled. This segmentation needs to be overcome to raise productivity in the informal, low-skill and low-productivity sector, and to facilitate resource transfers from low to higher productivity businesses. This ought to be achieved by aligning Turkey’s formal regulatory and tax framework with OECD best practice, rather than through “second-best” arrangements where noncompliance with rules co-exists with selective subsidies to parts of the formal sector. Labour market and business taxation reforms are particularly important to enable all categories of enterprises to operate flexibly on a rule-based, level playing field and to achieve productivity enhancing and socially inclusive restructuring.
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  • 100
    Online-Ressource
    Online-Ressource
    Paris : OECD, Economics Dep.
    Sprache: Englisch
    Seiten: Online-Ressource (25 S.) , graph. Darst.
    Serie: OECD Economics Department working papers 1166
    Schlagwort(e): 2007 - 2011 ; Finanzkrise ; Produktionspotenzial ; Schätzung ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: This paper estimates potential output losses from the global financial crisis by comparing recent OECD published projections with a counter-factual assuming a continuation of pre-crisis productivity trends and a trend employment rate which is sensitive to demographic trends. Among the 19 OECD countries which experienced a banking crisis over the period 2007-11, the median loss in potential output in 2014 is estimated to be 3¾ per cent, compared to 2¾ per cent among all OECD countries. The crisis hit does, however, vary widely across countries, being more than 10% for several smaller European, mainly euro area, countries. The largest adverse effects come from lower trend productivity, which is a combination of both lower total factor productivity and lower capital per worker. Despite large increases in structural unemployment in some countries, the contribution of lower potential employment to the crisis hit is limited because the adverse effect on labour force participation is generally much less than might have been expected on the basis of previous severe downturns. This may partly reflect pension reforms and a tightening up of early retirement pathways. Pre-crisis conditions relating to over-heating and financial excesses, including high inflation, high investment, large current account deficits, low real interest rates, high total economy indebtedness and more rapid growth in capital-per-worker are all correlated with larger post-crisis potential output losses. This suggests that underlying the potential output losses was a substantial misallocation of resources, especially of capital, in the pre-crisis boom period. On the other hand, more competition-friendly product market regulation is associated with smaller crisis-related losses of potential output, suggesting it facilitates a reallocation of resources across firms and sectors in the aftermath of an adverse shock and so helps to mitigate its consequences.
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