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This paper provides an overview of fiscal consolidation efforts at the central and sub-central government level, both during the current and past consolidation episodes.
The 2011 disaster and nuclear problems opened the door to a new energy policy, as they raised
fundamental questions about the electricity system’s ability to prevent and respond to accidents.
Labour market reform to improve growth prospects and reduce inequality is a top priority in the face of rapid population ageing and a dualistic labour market. Sustaining output growth requires policies to mitigate the impact of rapid population ageing by increasing labour inputs from under-employed segments of the population.
This study proposes a structured approach to selecting instruments of fiscal consolidation that are consistent with growth, equity and global-rebalancing objectives, which is then illustrated with a particular application.
The rapid expansion of education in Korea is exceptional and has played a key role in its economic
development. Sustaining Korea’s growth potential in the face of demographic headwinds requires further
improving the education system to boost productivity growth.
Austria has achieved high levels of economic growth and well-being, but must address serious demographic, environmental and globalisation challenges if future generations are to share the same prosperity, according to the OECD’s latest Economic Survey of Austria.
Consumer prices in the OECD area rose by 1.5% in the year to May 2013 compared with 1.3% in the year to April 2013.
Belgium has a good record in delivering accessible care, but adaptation to population ageing will be
complicated by the fragmentation of responsibilities in the healthcare system and a strong reliance on
OECD indicators of structural policy show that policy changes in Italy since 1998 should have improved
the environment for entrepreneurship significantly, but in the same period its economic performance has
Italy’s policy of fiscal consolidation and growth-friendly structural reforms has substantially improved its economic prospects, but the adverse sentiment that the country has faced in the sovereign bond market over the past years has deep roots.