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This paper considers major forces behind the evolution of the oil price, using a simple model of supply and demand elasticities as a benchmark, highlights implications for inflation and economic activity and draws some conclusions for macroeconomic policy.
Prices for many goods and services in Belgium are higher than in other countries, reflecting generally weak competitive pressures.
Human capital has traditionally been a strong point for the Danish economy, boosting income levels and the economy’s capacity to adjust, but there is room for improvement. Key education policy issues that need attention comprise learning outcomes and completion rates.
Labour productivity decelerated due to a slowdown in capital deepening related to the trend increase in employment. Policies in the areas of research and development, innovation, entrepreneurship, product market regulation and taxation could raise productivity growth.
Living standards in Ireland will remain high, despite the severe contraction, but stronger structural policies would encourage sustainable long run growth.
The Irish labour market is undergoing a severe adjustment following the sharp fall in output, which has been concentrated on labour intensive sectors.
This paper discusses the policy imperatives in the short term, in the face of the ongoing economic crisis, and reforms that could be implemented over the longer term to improve the efficiency and resilience of the financial system and raise Russia’s potential growth rate.
This paper examines the effect of economic crises on structural unemployment using an Autoregressive Distributed Lags model and accounting for the role of institutional settings.
While Mexico’s growth performance has gradually improved over the past decades, its convergence toward OECD countries has been less rapid than in several other emerging markets.
Despite progress over the past two decades Mexico’s health and education indicators remain well below the average of the OECD and some of its Latin American emerging market peers.