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The responsiveness of housing supply to changes in prices bears important implications for the evolution of housing prices and the speed of adjustment of housing markets.
This paper presents a framework to assess the impact of a wide range of structural policy reforms on GDP per capita at various horizons by linking together previous empirical studies mostly carried out by the OECD.
The housing market figures among the main determinants of labour mobility, as households seldom make employment and housing decisions independently of each other.
The Dutch occupational pension system has been successful in securing high asset accumulation to fund generous pension promises.
The extent of competition in product markets is an important determinant of economic growth in both developed and developing countries.
This paper analyses the factors influencing the level and volatility of real house prices in a panel of OECD countries over the period 1980-2005.
In the 2000s, Turkey has enjoyed rapid catching–up. This was possible despite the adverse business environment, as the semi–formal and informal economy had a significant contribution to the expansion of the private sector.
Turkey is recovering from a severe recession. Once growth gains full speed, the authorities will likely face the challenge of widening external imbalances and of ensuring a smooth functioning of the financial markets.
This paper explores the impact of structural policies on saving, investment, and current accounts in OECD and non-OECD economies. Since the current account effects of structural reforms are often complex and ambiguous from a theoretical perspective, new OECD empirical analysis is carried out.
This paper uses a simple dynamic stochastic general equilibrium model to explore the qualitative impact of productivity shocks on current account positions via their impact on the saving behaviour of households.