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Performance of fiscal policy, while good in international comparison, is not sufficient to prepare for future ageing-related spending increases.
The highly regarded Austrian health system delivers good quality and easily accessible services, but is costly.
In recent years, India has enjoyed one of the highest growth rates worldwide, weathering the global financial crisis better than many other countries.
The Estonian fiscal position is much better than in many OECD countries, the country stands out for having a rather lean government sector and the authorities are striving for efficient use of existing resources.
Sub-central tax competition is the strategic interaction of tax policy between jurisdictions with the objective to attract and retain mobile tax bases.
This paper develops a method for adjusting structural budget balances for asset price cycles and presents estimates of structural budget balances corrected for house-price and equity-price cycles for OECD countries.
English, , 342kb
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.
English, , 423kb
Increased international capital flows can support long-term income growth through a better international allocation of saving and investment.
The financial crisis revealed flaws in pre-crisis policy frameworks.
This paper presents a stylised model in which either a savings glut or an exchange rate peg in emerging economies drives down the level of interest rates in advanced economies and, when it hits the zero-rate bound, produces a welfare loss.