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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.
This paper constructs a broad measure of financial conditions for the United States, Japan, the Euro Area and the United Kingdom, by extending monetary condition indices which are traditionally used to gauge the impact of monetary policy on the economy.
Going for Growth 2009 takes stock of recent progress in implementing policy reforms to improve labour productivity and utilisation that were identified as priorities in the 2008 edition.
Today’s report is designed to help OECD countries pursue reforms that will raise their long-term living standards. This year’s Going for Growth is special in that it comes at a time when OECD countries are faced with the most severe financial and economic crises in a lifetime.
Although the European authorities should be commended for the progress they have made in updating and improving frameworks and responding to the financial turmoil, more can be done.
The global financial crisis that emerged in mid 2007 has caused considerable economic disruptions in the United States and elsewhere, and exposed major flaws in the global financial system.
This overview paper examines the financial crisis in light of past country experience and economic theory and sets out some preliminary policy recommendations.
The crisis exposed weaknesses in the Hungarian financial system that pose risks to financial stability. A major lesson learnt from the crisis is that the approach to household lending should change: a stronger protection of borrowers should be combined with a tighter regulation of lenders.