Latest Documents


  • 12-April-2012

    English

    Fiscal Consolidation: How much, how fast and by what means?

    Consolidating public finances in order to address the consequences of the crisis, underlying weaknesses and also future spending pressures creates important challenges.

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  • 8-February-2012

    English

    The impact of changes in second pension pillars on public finances in Central and Eastern Europe

    This paper studies the impact of recent changes in second pension pillars of three Central and Eastern European Countries on the deficit and implicit debt of their full pension systems.

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  • 16-January-2012

    English

    Growth perspectives for 2012

    Given current levels of uncertainty, it is quite a challenge to discuss the outlook for the global economy in the months to come. But I will take the risk, and share the OECD’s assessment of the forces shaping the near-term outlook, the risks surrounding our projections and the major policy challenges facing many OECD countries.

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  • 12-January-2012

    English

    Fiscal consolidation: Part 3. Long-run projections and fiscal gap calculations

    During the economic and financial crisis, fiscal positions across the OECD countries deteriorated sharply. This raises the question of what level of primary deficit would ensure long-term sustainability and what degree of consolidation is needed.

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  • 12-January-2012

    English

    The nature of financial and real business cycles: the great moderation and banking sector pro-cyclicality

    This paper takes a fresh look at the nature of financial and real business cycles in OECD countries using annual data series and shorter quarterly and monthly economic indicators.

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  • 12-January-2012

    English

    Fiscal consolidation: Part 1. How much is needed and how to reduce debt to a prudent level?

    The economic and financial crisis was the catalyst for a fiscal crisis that engulfs many OECD countries. In most countries, budget deficits soared as a result of the economic slump, weaker revenues and the policy response to the crisis.

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  • 2-January-2012

    English

    Explaining the interest-rate-growth differential underlying government debt dynamics

    The differential between the interest rate paid to service government debt and the growth rate of the economy is a key concept in assessing fiscal sustainability.

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  • 13-December-2011

    English

  • 12-December-2011

    English

  • 12-December-2011

    English

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