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Secretary-General Angel Gurría opens the first meeting of the New Approaches to Economic Challenges (NAEC) Group, an organisation-wide reflection process on the roots and lessons from the crisis with the aim of catalysing a process of continuous improvement of our analytical frameworks and policy advice. This meeting serves as a first step to get expert feedback and inputs to identify priorities for the way forward.
A major step forward towards putting the measurement of well-being at the heart of policy-making was taken at a four-day international conference which ended in New Delhi today.
Micro, small and medium-sized firms (MSMEs) are a key source of employment and economic growth in Indonesia. They
contributed to the country’s economic resilience during the 2008-09 financial crisis.
The economics profession seems to increasingly endorse the existence of a strongly negative nonlinear effect of public debt on economic growth. Reinhart and Rogoff (2010) were the first to point out that a public debt to GDP ratio higher than 90% of GDP is associated with considerably lower economic performance in advanced and emerging economies alike.
Low growth and huge current account deficits have characterised the Portuguese economy over the past decade.
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Renewed impetus for reforms is essential for India to continue to narrow its major gap in living standards with middle-income and OECD economies, to reduce widespread poverty, to reverse rising inequality and to improve the wellbeing of all Indians. Based on the expertise of OECD, this report presents an update of policy advice in critical areas to India’s long-term economic performance and social development.
Real GDP growth in the OECD area slowed to 0.2% in the second quarter of 2012, compared with 0.4% in the first quarter.
Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, show that the loss of momentum is likely to persist in the coming quarters in most major OECD and non-OECD economies.
Annual inflation in the OECD area rose by 2.0% in the year to August 2012, up from 1.9% in the year to July 2012. This slight increase in the annual rate of inflation – first increase since August 2011 - masked opposing movements in energy and food prices.
In many OECD countries debt has soared to levels threatening fiscal sustainability, necessitating its reduction over the medium to longer term. This paper uses stylised simulations in a small, calibrated macroeconomic model which features endogenous interactions between fiscal policy, growth and financial markets.