6-July-2009
English
To shed further light on this issue in the context of emerging market economies, this paper uses Brazilian data to estimate the determinants of the current account in a smooth transition vector autoregressive (ST VAR) setting.
7-April-2009
English
The costs of the recession and ageing are a challenge to fiscal sustainability. The estimated fiscal sustainability gap has increased from 3 to 8% of GDP due to a sizeable permanent stimulus and lower potential output. A consolidation plan should be articulated now...
3-April-2009
English, , 245kb
Fiscal equalisation is a transfer of fiscal resources across jurisdictions to offset disparities in revenue raising capacity or public service cost. It covers on average 2.5% of GDP or 5% of total government expenditure across OECD countries.
3-April-2009
English, , 830kb
Fiscal equalisation is a transfer of fiscal resources across jurisdictions to offset disparities in revenue raising capacity or public service cost. It covers on average 2.5% of GDP or 5% of total government expenditure across OECD countries.
20-March-2009
English
The aim of this paper is to analyze the relation between the volatility of government consumption and country size. The results are robust to different time and country samples, different econometric techniques and to several sets of control variables.
9-March-2009
English
Euro Area entry calls for more fiscal flexibility to absorb cyclical shocks that cannot be dealt with by the common monetary policy. At the same time fiscal consolidation must not be put at risk, especially given rising ageing related costs.
3-March-2009
English, , 124kb
Chapter 1 from Going for Growth 2009 reviews how the current recession affects the prospect for structural reform and then explores which of the policy priorities identified in the current volume to boost long-term growth are most likely to stimulate demand in the near term.
27-February-2009
English
This paper analyzes the effects of fiscal convergence on business cycle volatility and growth. Our empirical results are economically and statistically significant, and robust.
27-February-2009
English
The aim of this paper is to assess the ability of social spending to smooth output shocks and to provide stabilization. The results show that overall social spending is able to smooth about 16 percent of a shock to GDP.
24-February-2009
English
Korea has one of the lowest tax burdens in the OECD area, reflecting its small public sector. However, rapid population ageing will put upward pressure on government spending.