How institutions shape the distributive impact of macroeconomic shocks: a DSGE analysis

This paper examines how the the distributive impact of macroeconomic shocks is shaped by selected institutions. It uses a dynamic stochastic general equilibrium (DSGE) framework with heterogeneous agents and an endogenous collateral constraint.

Predicting peaks and troughs in real house prices

OECD work prior to the financial crisis suggested that real prices in several housing markets had become vulnerable to a change in financial and economic conditions, with the risk of a subsequent downturn becoming increasingly possible, as proved to be the case.

INDIA: Improving access and quality in the education system

Education has been given high priority by India’s central and state governments and continues to grow fast. Nevertheless, high drop-out rates and low attendance continues to be a challenge at lower levels and enrolment at higher levels remains modest by international standards.

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• Economic Survey of India 2011

HOUSING: Predicting peaks and troughs in real house prices

OECD work prior to the financial crisis suggested that real prices in several housing markets had become vulnerable to a change in financial and economic conditions, with the risk of a subsequent downturn becoming increasingly possible, as proved to be the case.

How to move product market regulation in New Zealand back towards the frontier

From the mid 1980s, New Zealand was widely considered to be a leader in liberalising product market regulation (PMR).

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• Economic Survey of New Zealand 2011

Policies to rebalance housing markets in New Zealand

A considerable housing boom has been a key feature of persistently large saving investment imbalances in New Zealand over the past decade.

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• Economic Survey of New Zealand 2011

The sharing of macroeconomic risk: who loses (and gains) from macroeconomic shocks

This paper addresses the often neglected question of how macroeconomic risk is shared across and within economies, and identifies reforms that could contribute towards achieving more desirable risk-sharing outcomes.

Estonia: making the most of globalisation

Estonia has already experienced many benefits of increasing international integration, most obviously in significant convergence.

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• Economic Survey of Estonia 2011

The effects of downturns on labour force participation: evidence and causes

This paper uses an impulse-response function approach to assess the magnitude and persistence of the labour force participation effects of downturns for a sample of 30 countries over the period 1960-2008.

The growth effects of current account reversals: the role of macroeconomic policies

This paper assesses empirically whether or not current account reversals have permanent growth effects and the role of macroeconomic policies in this process.