Public finance and fiscal policy

Focus

  • Latest Interim Economic Outlook

    Still-elevated risk-taking and high debt levels in many countries raise financial vulnerabilities. Monetary policy normalisation could also result in greater volatility of exchange rates and capital flows, particularly in emerging market economies.

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  • Economic Survey of Estonia 2017

    In Estonia, poor investment performance between 2013 and 2016 has weighed on. The pace of capital accumulation and its contribution to labour productivity growth have halved between pre and post-crisis years.

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  • Economic Survey of France 2017

    A long-term strategy is needed to reduce public expenditure without endangering social protection so as to allow lower taxes with sustainable public finances.

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Finance and inclusive growth: How to restore a healthy financial sector that supports long-lasting, inclusive growth?

Over the past 50 years, credit by banks and other institutions to households and businesses has grown three times as fast as economic activity. At these levels, further expansion is likely to slow long-term growth and raise inequality.

Achieving prudent debt targets using fiscal rules

Debt targets can serve as a fiscal policy anchor to ensure the sustainability of fiscal policy and that there is sufficient policy room to cope with adverse shocks. Prudent debt targets provide the commitment tool that re-assures markets and thereby diminishes risk premia and the cost of active fiscal policy.

More reports

Vulnerability of Social Institutions

Choosing fiscal consolidation instruments compatible with growth and equity

Public Spending on Health and Long-Term Care

Less income inequality and more growth - Are they compatible?

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