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The automobile industry is among the sectors that have been hit most by the recession. Demand for cars fell sharply, accentuating the difficulties of excess production capacity already faced before the crisis and deepening the economic downturn in major car-producing countries.
This paper shows that world demand (to which trade has become more responsive in recent decades) can explain most of the collapse in world trade, but that tight credit conditions have likely amplified the short-term trade response.
This working paper begins with a discussion of the factors that made the banks, non-financial firms and households vulnerable to deterioration in global financial markets. It then describes the failure of the banks, its direct impact on government debt, the IMF SBA and the economic outlook.
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Special chapter from Economic Outlook No. 85, June 2009.
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An extract on housing from the OECD Economic Outlook No. 84's general assessment.
Notes to statistical annex tables 38-54, Sources and Methods of the OECD Economic Outlook.
The OECD projections are conditional on a set of technical assumptions, which comprises: unchanged exchange rates, as of a given date; unchanged fiscal and monetary policies; and a projected path of oil and non-oil commodity prices.
Bibliography of the Sources & Methods of the OECD Economic Outlook.
Notes to statistical annex tables 55-63, Sources and Methods of the OECD Economic Outlook.
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Special chapter from Economic Outlook No. 84, November 2008.