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Russia should aim for a gradual switch from a quasi-fixed exchange rate policy to inflation targeting. Not all conditions for adopting inflation targeting are yet in place, but preparations should be accelerated.
The global crisis put an end to a decade of rapid growth. Russia needs to minimise the downturn and establish a sounder long-term growth model. Growth-friendly product market regulation and a more efficient and resilient banking system will be key.
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External links to: recent economic data (GDP, inflation, unemployment, exchange rates); latest reports, current outlook / projections, government budget, speeches, relevant sites.
Brazil is resisting the global downturn better than many other countries thanks to sound policies developed over recent years and an improved balance of payments, said Angel Gurría, Secretary-General of the OECD.
The complexities and fragmentation of Brazil’s tax system make it particularly onerous to enterprises, making it a priority for reform. The state-level VAT has often been used as an industrial policy instrument, resulting in predatory tax competition among the states. Remaining federal levies on enterprise turnover are detrimental to the competitiveness of Brazilian exports. The burden of payroll taxes and social security
Our findings show that an increase in the minimum to mean wage ratio is associated with a net increase in employment: a rise in informal sector employment more than compensates for job losses in the formal sector.
This paper breaks new ground by providing comparable estimates of intergenerational wage and education persistence across 14 European OECD countries based on a new micro data from Eurostat.
This paper focuses on inequalities in learning opportunities for individuals coming from different socio-economic backgrounds as a measure of (in) equality of opportunity in OECD countries and looks at the role played by policies and institutions in shaping countries’ relative positions.
The OECD’s latest economic survey of Brazil, to be published on Tuesday 14 July 2009, looks at the challenges the country faces as it recovers from the global downturn. It also discusses the reforms needed to reinforce long-term growth and raise living standards.