Achieving strong growth in the global economy remains elusive, with only a modest recovery in advanced economies and slower activity in emerging markets, according to the OECD’s latest Interim Economic Outlook.
Costa Rica has made impressive economic, social and environmental progress, but further institutional and policy reforms will be necessary to ensure stronger and more inclusive growth, according to the first-ever OECD Economic Assessment of Costa Rica.
This paper offers an overview of developments in household debt over the past decades across a large sample of OECD countries, highlighting both common trends and country specificities. It examines the vulnerabilities associated with high household debt for households, the financial system and the wider economy.
Mixed outlook across major emerging economies but stable growth momentum in the OECD area
OECD annual inflation picks up to 0.9% in December 2015
Israel’s economy has strong fundamentals, but the country needs to address productivity, inequality and poverty if it wants to improve well-being and reduce socio-economic divides, according to the OECD’s latest Economic Survey of Israel.
Finland enjoys a high level of income and well-being, but the economy has weakened and new reforms will be necessary to restart growth, boost productivity increase employment and restore competitiveness, according to the latest OECD Economic Survey of Finland.
Composite leading indicators continue to point to stable growth momentum in the OECD area
Reforms over the past two decades have produced a well-balanced, modern tax system. However, considerable revenues will be needed in the years ahead to expand social spending and infrastructure in order to raise growth and well-being. The challenge is to generate these revenues without penalising growth or exacerbating inequality.
This paper re-estimates the elasticities of government revenue and expenditure items with respect to the output gap for OECD countries. These elasticities are used by the OECD to calculate cyclically adjusted fiscal balances. The study updates the earlier 2005 study using the most recent datasets and tax codes, the coverage being confined in this paper to 35 countries, the 34 OECD member states and Latvia.