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The Netherlands is gradually emerging from a double-dip recession with strengthened public finances and reforms on track to improve the labour and housing markets and the health care and pension systems. These reforms are paying off, says the OECD. Growth is expected to reach 1% this year and 1.3% in 2015.
Israelis enjoy higher life expectancy and have a much younger demographic profile than most OECD countries. However, the demand for health care is expanding rapidly due to population growth and ageing.
Ensuring tax and transfer systems bring sufficient revenue to reach macroeconomic fiscal targets, address societal goals in re-distribution and social welfare, recognise the influence taxation has on businesses’ competitiveness and adequately address environmental externalities is a tough challenge, arguably more so in Israel than in many other OECD countries.
Industrial specialization has important implications for economic performance; therefore, understanding its determinants is of key policy relevance.
This paper provides an assessment of how households’ income has fared compared with GDP. While the prime focus is on incomes around the median, attention is paid also to the bottom of the income distribution.
Growth in emerging market economies (EMEs) is set to durably slow from the rates observed over 2010-12 as cyclical effects fade, potential growth declines and external financing conditions tighten.
A moderate recovery is under way in major advanced economies after two years of subdued growth. Overall, most indications point to a continued underlying strengthening of the pace of growth, helped by accommodative monetary policy and reduced fiscal drag.
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After two decades of low growth and persistent deflation, Japan is showing signs of renewed economic dynamism. But to regain its primacy as a leading economic powerhouse and raise the well-being of its citizens, Japan needs a structural reform package to narrow the productivity gap with leading OECD countries, notably by increasing the labour participation of women and older citizens.
Composite leading indicators point to weakening growth in most major emerging economies but continued positive growth prospects in OECD countries
Action taken by many European countries to return their public finances to health are beginning to pay off, says the OECD. The Euro area economies which emerged from the crisis with serious current account deficits are now in surplus. Debt-to-GDP ratios are stabilising and market tensions have abated.