Working Papers


  • 24-November-2016

    English

    A re-assessment of fiscal space in OECD countries

    To what extent can public deficits increase without putting fiscal sustainability at risk, given the specific current macroeconomic situation of protracted low growth and low interest rates, combined with relatively high government debt levels?

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  • 24-November-2016

    English

    Can an increase in public investment sustainably lift economic growth?

    This paper seeks to identify the conditions under which raising public investment can sustainably lift growth without deteriorating public finances.

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  • 4-November-2016

    English, PDF, 1,522kb

    Betting the house in Denmark

    The Danish financial sector is big and there is a high degree of inter-connectedness between banks, mortgage institutions and pension funds.

  • 11-October-2016

    English

    Fiscal decentralisation and income inequality: empirical evidence from OECD countries

    This paper investigates the relationship between fiscal decentralisation and economy-wide disposable income inequality.

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  • 11-October-2016

    English

    Fiscal decentralisation and regional disparities

    Fiscal decentralisation can lead to a more efficient provision of local public goods and services and promote a better match between policies and citizens’ preferences.

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  • 27-July-2016

    English

    Making public finances more growth and equity-friendly in the euro area

    To achieve a euro area fiscal stance that fosters the recovery, countries with fiscal space under the Stability and Growth Pact rules should use budgetary support to raise growth, and existing incentives and flexibility should be taken advantage of to pursue reforms of tax and spending policies.

  • 3-March-2016

    English

    Monetary policy and inequality

    This paper analyses two-way interactions between monetary policy and inequality in selected advanced economies. In the context of a highly accommodative monetary stance over recent years, the analysis focuses on the effects of monetary policy on inequality over the business cycle via its impacts on returns on assets, the cost of debt servicing and asset prices.

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  • 19-February-2016

    English

    Raising public spending efficiency in Switzerland

    Despite having low government spending, Switzerland scores highly in various public policy outcomes, including health, education and transportation. But, as the population grows and ages, efficiency of public spending will have to rise to maintain low tax rates.

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  • 18-February-2016

    English

    Public spending efficiency in the OECD: benchmarking health care, education and general administration

    This paper uses data envelopment analysis (DEA) to assess the efficiency of welfare spending in a sample of OECD countries around 2012, focussing on health care, secondary education and general public services.

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  • 17-December-2015

    English

    How can South Africa’s tax system meet revenue raising challenges?

    Reforms over the past two decades have produced a well-balanced, modern tax system. However, considerable revenues will be needed in the years ahead to expand social spending and infrastructure in order to raise growth and well-being. The challenge is to generate these revenues without penalising growth or exacerbating inequality.

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