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The history of economic policymaking has been marked by a succession of “paradigms” defining the goals of economic policy and the instruments used to attain them. OECD Chief Economist Pier Carlo Padoan looks at where we go from here.
This easing in the annual rate of inflation mainly reflected the slower growth in energy prices, which increased by 8.1% in the year to December, down from 11.6% in the year to November.
Switzerland has made a broadly balanced recovery from the economic crisis, but slower activity in Europe and pressures on the Swiss franc weigh on the near-term outlook, according to the latest Economic Survey of Switzerland.
Switzerland has made a broadly balanced recovery from the economic crisis, but slower activity in Europe and pressures on the Swiss franc weigh on the near-term outlook, according to the OECD Secretary-General.
Countries can use labour market reforms, more targeted tax and transfer systems and better education policies to simultaneously curb the income gap between rich and poor while boosting economic growth.
Given current levels of uncertainty, it is quite a challenge to discuss the outlook for the global economy in the months to come. But I will take the risk, and share the OECD’s assessment of the forces shaping the near-term outlook, the risks surrounding our projections and the major policy challenges facing many OECD countries.
Private consumption was the main contributor for the OECD as a whole, adding 0.3 percentage point, with net exports and gross fixed capital formation each contributing 0.2 percentage point.
The assessment is little changed compared to last month for most countries, but the CLIs for Japan, United States and Russia are showing stronger signs of a positive change in momentum and remain above long-term trend.
The OECD’s latest economic survey of Chile, to be published on Tuesday 17 January 2012, discusses the country’s recovery from the global economic crisis and looks at the major challenges as growth slows worldwide.
Consumer prices in the OECD area rose by 3.1% in the year to November 2011, compared with 3.2% in the year to October 2011.