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This study analyses the impact of economic catching up on annual inflation rates in the European Union with a special focus on the new member countries of Central and Eastern Europe.
The paper focuses on the major structural reforms necessary to prepare for euro adoption that should allow a sustainable fulfilment of the Maastricht criteria and maximisation of the ensuing various benefits.
The global crisis has left many G20 countries with an unenviable legacy of lower potential output and high government indebtedness. Global imbalances, which had narrowed during the recession, are now beginning to widen again, as the recovery takes hold.
Higher oil prices and the prospect of higher borrowing costs are likely to reduce the productive potential of OECD economies. The present study provides illustrative numerical estimates of the impact under different scenarios using a stylised model based on a production function.
Productivity growth has declined since the late 1990s, slowing the catching-up process. Structural reforms to strengthen competition, entrepreneurship and innovation would go a long way toward enhancing it.
Israel’s education system produces many tertiary graduates but there are wide gaps across society and core skills at secondary school are weak, as discussed in this working paper.
Despite some best-practice policies, challenges remain in raising employment and lowering poverty, particularly among Arab-Israeli and Ultra-orthodox households, as discussed in this working paper.
Maintaining high participation and employment in the face of the recent recession and a rapidly ageing population are major challenges for policy makers in Finland.
The transition paths from plan to market have varied markedly across countries.
Global external imbalances widened persistently over the last several years and have narrowed abruptly over the course of the financial crisis.