Low oil prices and monetary easing boost growth in the world’s major economies, but projected near-term growth remains modest and abnormally low inflation and interest rates point to risks of financial instability.
English, PDF, 635kb
This series of Working Papers is designed to make available, to a wider readership, selected studies which the Department has prepared for use within OECD. Authorship is generally collective, but main individual authors are named.
English, PDF, 514kb
This article explores country-by-country differences in academic performance and attitudes towards school between students who repeated a grade in primary school, in secondary school or never repeated a grade. The analyses use PISA 2009 for 30 countries in which a relatively high proportion of students repeated a grade before the age of 15.
English, PDF, 418kb
The purpose of this paper is to examine the welfare effects of birth-related leave (BRL) in terms of life satisfaction. To do so, we exploit variations in BRL policies to assess their impact on life satisfaction.
English, PDF, 334kb
Emissions trading systems (ETS) can play a major role in a cost-effective climate policy framework. Both direct linking of ETSs and indirect linking through a common crediting mechanism can reduce costs of action. We use a global recursive-dynamic computable general equilibrium model to assess the effects of direct and indirect linking of ETS systems across world regions.
English, PDF, 510kb
This article assesses various underlying driving factors for the evolution of household earnings inequality for 23 OECD countries from the mid-1980s to the mid-2000s.
English, PDF, 283kb
This article seeks to study how intra-OECD trade in manufacturing goods has affected technological heterogeneity across member states during 1988-2008. To this aim, we derive a panel data version of the Eaton and Kortum (2002) normalised trade model to estimate, annually, the technological heterogeneity of OECD countries.
English, PDF, 527kb
This paper uses panel regression techniques to assess the policy determinants of private-sector innovative activity – proxied by R&D expenditure and the number of new patents – across 19 OECD countries. The relationship between innovation indicators and multifactor productivity (MFP) growth is also examined with a particular focus on the role of public policies in influencing the returns to new knowledge.
English, PDF, 511kb
In many OECD countries debt has soared to levels threatening fiscal sustainability, necessitating its reduction over the medium to longer term. This paper proposes a stylised model, featuring endogenous interactions between fiscal policy, growth and financial markets, to highlight how economic shocks and structural features of an economy can affect consolidation strategy and resulting growth and inflation developments.