Making the Dutch pension system less vulnerable to financial crises

The Dutch occupational pension system has been successful in securing high asset accumulation to fund generous pension promises.

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• Economic Survey of the Netherlands 2010

Reforming China’s monetary policy framework to meet domestic objectives

As a result of reforms and financial sector development, the People’s Bank of China (PBoC) now exerts significant control over money market interest rates.

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• Economic Survey of China 2010

Real house prices in OECD countries: the role of demand shocks and structural and policy factors

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.

Minimising risks from imbalances in European banking

The euro area financial system took excessive risks during the global credit boom, which in some countries led to an unsustainable increase in credit, higher asset prices and housing booms.

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• Economic Survey of Euro Area 2010

The 2008-09 crisis in Turkey: performance, policy responses and challenges for sustaining the recovery

Turkey is recovering from its most severe recession in several decades.

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• Economic Survey of Turkey 2010

Are global imbalances sustainable? Shedding further light on the causes of current account reversals

Large shifts in countries’ external current account positions can be disruptive, often reflecting sudden stops in the flows of external finance and leading to exchange rate and banking crises.

Turkey's improving integration with the global capital market: Impacts on risk premia and capital costs

Turkey has considerably improved its terms of access to the global capital market. Progress in macroeconomic fundamentals has enhanced credibility and reduced risk premia and capital costs.

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• Economic Survey of Turkey 2010

The Korean financial system: overcoming the global financial crisis and addressing remaining problems

The intensification of the global financial crisis in late 2008 led to large capital outflows from Korea and turmoil in its capital markets.

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• Economic Survey of Korea 2010

Are global imbalances sustainable? Post-crisis scenarios

This paper assesses the sustainability of global imbalances by testing for the presence of unit roots in the current account positions of the United States, China, Japan, Germany and the oil-exporting countries using a methodology that allows for structural breaks in levels and trends.

European Union: Catching up and inflation: Balassa-Samuelson, Engel’s law and other culprits

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.