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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.
With strong economic growth overall and an increasingly important role as a regional economic centre, Luxembourg is experiencing mounting environmental pressures. This is mainly a result of a growing population and a rapid increase in transport, which is dominated by the car, as the number of workers commuting within Luxembourg and from across the border has risen rapidly.
After peaking in the first half of 2008, international imbalances declined sharply during the global
crisis of 2008-09, in part reflecting cyclical factors such as large contractions in domestic demand on the back of bursting housing bubbles in a number of deficit countries, as well as large declines in cross-border capital flows, interest rates and commodity prices.