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OECD work prior to the financial crisis suggested that real prices in several housing markets had become vulnerable to a change in financial and economic conditions, with the risk of a subsequent downturn becoming increasingly possible, as proved to be the case.
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Although the automobile industry accounts for only a small share of industrial output in most OECD economies (around 5½ per cent in the median OECD economy), it is comparatively volatile and can thus
Austria is recovering from the crisis which has increased fiscal vulnerabilities. The authorities should strengthen reforms so the economy is more resilient to fiscal pressures, and reinforce drivers of growth. The Survey discusses areas to improve fiscal performance, including health care r
The global recovery is becoming self-sustained and more broad-based but is taking place at different speeds across countries and regions. Tackling high unemployment, fiscal consolidation and global imbalances remain the key challenges, says OECD Secretary-General.
This paper reviews the main monthly indicators that could help forecasting world trade and compares different type of forecasting models using these indicators.
This paper provides new empirical results linking financial and housing wealth to household consumption for the United States, Japan and the euro area.
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The recovery is projected to strengthen in the near term, but there are concerns about the longer-term legacy of the crisis, particularly because of the emergence of unsustainable fiscal imbalances as well as the possible damage to long-term growth prospects.
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General assessment from Economic Outlook No. 89, May 2011.
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Increasing international capital flows can support long-term income growth through a better international allocation of saving and investment.
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Given the slack remaining in economic activity and labour utilisation, together with still-anchored inflation expectations, aggregate demand policies have a role to play in supporting the economic recovery and stimulate jobs.