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Substantial fiscal consolidation was achieved under the aegis of the 2003 Fiscal Responsibility and Budget Management Act.
Improvements in the macroeconomic policy framework over the past two decades and prudent regulation of the financial system have contributed to reduce output volatility in Mexico relative to other OECD countries.
With slow growth and high inequality Mexico needs investments in infrastructure, education and social policies. Mexico has increased spending in all of these areas.
This paper identifies refinements to the macroeconomic framework that will help Brazil to achieve strong performance in a new environment.
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.