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The work of the Economics Department relates to issues of both a macroeconomic and a structural character, and in particular on the interaction between structural and macroeconomic policies and developments.
What's new
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19-May-2008
There is widespread evidence that a better access to markets contributes to raising income levels. However, no quantification of the impact of distance to markets has been made on the basis of a sample restricted to advanced — and therefore more homogeneous — countries. This paper applies the framework developed by Redding and Venables (2004) on a panel data covering 21 OECD countries over 1970-2004, and shows that, relative to the average OECD country, the cost of remoteness for countries such as Australia and New Zealand could be as high as 10% of GDP.
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19-May-2008
Improving education outcomes is important for Germany’s long-term economic performance and social cohesion. While student achievement is above the OECD average in science and at the OECD average in reading and mathematics according to the 2006 OECD PISA study, weaker students tend to do badly by international comparison and socio-economic and/or immigrant backgrounds have a large impact. Another problem is that the proportion of younger people that completes tertiary education is relatively low.
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19-May-2008
The aim of the recent healthcare reform was to increase the sustainability of healthcare finances, by reducing its negative impact on employment and increasing cost-effectiveness via enhanced competition.
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19-May-2008
This paper presents new estimates of country-specific international transport costs for 21 OECD countries over the period 1973-2005. The methodology is based on direct measures of air, maritime, and road transport costs rather than on cif/fob ratios or other balance of payments data employed in previous studies. Transport costs are calculated as costs per kilogramme for each mode of transport at a bilateral level and then aggregated. Australia and New Zealand are found to have the highest transport costs among the OECD countries considered, followed by Japan.
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15-Apr-2008
Klaus Schmidt-Hebbel has been appointed Chief Economist of OECD. A national of both Germany and Chile, he joins OECD after twelve years as Chief of Economic Research at the Central Bank of Chile.
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16-Apr-2008
Economic activity is now easing. In the short run, competitiveness must improve. Better infrastructure, and further product and labour market reforms would keep growth strong over the medium term. Long-run challenges remain for the housing market, fiscal policy, pensions, and the integration of migrants.
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Economic Outlook
This Economic Outlook, published 6 December 2007, presents the latest economic analysis and projections for major economies.
Issue No. 82
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