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Sweden has weathered the crisis well. It now needs to strengthen fundamentals even further by improving the monetary and financial policy frameworks and continuing with labour market and education system reforms.
In his remarks for the launch of the Economic Survey of Sweden, Angel Gurría said that 'Sweden is recovering quickly and robustly from the crisis (...) in large part thanks to the sound macroeconomic and structural policies Sweden has pursued over the past couple of decades.'
The housing market figures among the main determinants of labour mobility, as households seldom make employment and housing decisions independently of each other.
The Dutch occupational pension system has been successful in securing high asset accumulation to fund generous pension promises.
Closing the income gap with the OECD and enhancing distribution of growth requires reforms in many fronts. Better functioning labour and product markets and investment in skills and infrastructure would boost productivity, while well-designed social and education policies can reduce inequalities
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.
The extent of competition in product markets is an important determinant of economic growth in both developed and developing countries.
The euro area financial system took excessive risks during the global credit boom, which in some countries led to an unsustainable increase in credit, higher asset prices and housing booms.
This paper considers the increase in current account imbalances in euro area countries since the early 1990s.
Some euro area countries accumulated large and persistent external imbalances during the upswing, revealing important weaknesses in the macroeconomic management of the monetary union.