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.

A Simulation Model of Federal, Provincial and Territorial Government Accounts for the Analysis of Fiscal-Consolidation Strategies in Canada

This paper presents a simulation model of the main budget aggregates of federal, provincial and territorial governments in Canada. It also contains an analysis of the cyclicality of Canadian governments’ fiscal policies between 1984 and 2007.

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• Economic Survey of Canada 2010

Is there a case for carbon-based border tax adjustment? An applied general equilibrium analysis

Concern that unilateral greenhouse gas emission reductions could foster carbon leakage and undermine the international competitiveness of domestic industry has led to growing calls for carbon-based border-tax adjustments (BTAs).

The effects of fiscal policy on output: A DSGE analysis

This paper examines the effects of fiscal policy on output in the euro area.

Explaining Household Saving Rates in G7 Countries: Implications for Germany

Many propositions have been made to explain the increase in the German household saving rate since the year 2000 from an individual country perspective but most of them focus on partial aspects, as discussed in this working paper.

The automobile industry in and beyond the crisis

This paper considers the role of the automobile industry in the current cycle. It shows that the industry is economically important and its cycle is intertwined with business cycles.

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• OECD Economic Outlook No. 86, November 2009

Understanding the world trade collapse

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.

Iceland: The Financial and Economic Crisis (Economics Department Working Paper 725)

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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• Economic Survey of Iceland 2009