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This paper analyzes the effects of fiscal convergence on business cycle volatility and growth. Our empirical results are economically and statistically significant, and robust.
This paper reviews and assesses in terms of availability, reliability and transparency existing policy and outcome indicators that have been found to be linked both directly and indirectly to economic growth and living standards.
Increasing productivity growth in the service sector, which accounts for 67% of employment and 58% of value added in Korea, is essential to sustain high potential growth.
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.
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.
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.
This paper develops and applies a simple “conditional growth” framework to make long-term GDP projections for the world economy.
Traditionally, the Norwegian compulsory education system has focused strongly on the linked goals of equal opportunities to learn, comprehensive and inclusive education.