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Austria entered the most severe recession in decades. This triggered prompt policy measures to stabilise the real economy and financial markets, which will deteriorate significantly the fiscal position.
The United Kingdom, like many OECD economies, is experiencing a severe recession as a consequence of a series of global shocks and any recovery in 2010 is likely to be slow. The financial crisis has severely impaired the supply of credit and house prices have fallen sharply. Unemployment is expected to increase significantly. The large rise in the government deficit is providing support to demand, but the debt-to-GDP ratio will
The UK financial market has been severely affected by the financial market crisis. The crisis has exposed weaknesses in the supervisory framework as well as that for crisis management and resolution. This chapter reviews the supervisory and regulatory framework and the many reforms that have already been adopted to remedy these weaknesses. It also provides recommendations for further reforms.
In his introductory remarks at the Paris Conference for Long-Term Value & Economic Stability, Angel Gurría talks about the importance of long-term investments and their capacity to help to bring back confidence and to achieve long-term sustainable development throughout the world
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This is the OECD Paper for Session 1 on ―How the global economy headed into crisis‖ at the G20 Workshop on the Causes of the Crisis: Key Lessons Mumbai.
The aim of this paper is to assess the impact of financial crises on potential output.
This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007.
This working paper uses a variety of empirical methods to examine the apparent differences in monetary policy stances as between the United States and other G7 economies.
This paper examines the characteristics of downturns and subsequent recoveries following past banking crises in OECD countries as well as evidence of any effects on potential output growth.
This paper estimates unrestricted monetary reaction functions for four Latin American countries (Brazil, Chile, Colombia and Mexico) and tests for the presence of non linear effects in central bank behaviour.