Working Papers


15-April-2011

English

Global imbalances, exchange rate pegs and capital flows: a closer look

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.

22-March-2011

English

Drivers of homeownership rates in selected OECD countries

Homeownership rates have increased significantly in many OECD countries over recent decades.

22-March-2011

English

Restoring fiscal sustainability in Spain

Spain’s government has introduced ambitious consolidation measures, which should yield a sizeable improvement in discretionary fiscal efforts.

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22-February-2011

English

Strengthening the macroeconomic policy framework in South Africa

South Africa’s macroeconomic framework has served the economy well, but should be strengthened to make the economy more resilient to external shocks.

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2-February-2011

English

Increasing public sector efficiency in Slovakia

Raising efficiency in tax collection (notably VAT) is urgently needed, plans to unify the collection of tax and social security contributions should be implemented swiftly and drawing on EU funds needs to become more efficient.

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18-January-2011

English

Improving the flexibility of the Dutch housing market to enhance labour mobility

The housing market figures among the main determinants of labour mobility, as households seldom make employment and housing decisions independently of each other.

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17-December-2010

English

Reforming China’s monetary policy framework to meet domestic objectives

As a result of reforms and financial sector development, the People’s Bank of China (PBoC) now exerts significant control over money market interest rates.

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16-December-2010

English

Real house prices in OECD countries: the role of demand shocks and structural and policy factors

This paper analyses the factors influencing the level and volatility of real house prices in a panel of OECD countries over the period 1980-2005.

15-December-2010

English

Improving fiscal performance through fiscal councils

There is growing interest in the role of independent fiscal institutions, or fiscal councils, in helping to improve fiscal performance.

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14-December-2010

English

Does fiscal decentralisation strengthen social capital? Cross-country evidence and the experiences of Brazil and Indonesia

This paper tests the hypothesis that, by giving people more voice in the government decision-making process, fiscal decentralisation fosters social capital, measured in terms of interpersonal trust.

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