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Korea has one of the lowest tax burdens in the OECD area, reflecting its small public sector. However, rapid population ageing will put upward pressure on government spending.
The age of retirement of employees should be raised by eliminating mandatory retirement and phasing out the retirement allowance. Active labour market policies should focus on policies to expand human capital rather than wage subsidies.
This overview paper examines the financial crisis in light of past country experience and economic theory and sets out some preliminary policy recommendations.
Education outcomes need to improve to enhance long-term growth. This could be achieved by encouraging children from disadvantaged backgrounds to spend more time in pre-school...
The crisis exposed weaknesses in the Hungarian financial system that pose risks to financial stability. A major lesson learnt from the crisis is that the approach to household lending should change: a stronger protection of borrowers should be combined with a tighter regulation of lenders.
In spite of improvements, on various measures of health outcomes the United States appears to rank relatively poorly among OECD countries. Health expenditures, in contrast, are significantly higher than in any other OECD country.
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An extract on housing from the OECD Economic Outlook No. 84's general assessment.
This paper uses the WITCH model, a computable general equilibrium model with endogenous technological change, to explore the impact of various climate policies on energy technology choices and the costs of stabilising greenhouse gas concentrations.
As in other catch-up countries inflation is likely to stay high going forward due to nominal convergence. To better cope with the risk of a too rapid pick up of wages, three main areas for improvement are discussed in this chapter.
House prices have risen strongly in past years, helped by rising incomes and declining interest rates. At the same time, construction of new dwellings has remained fairly muted and has only recently shown signs of picking up.