Euro area entry calls for more fiscal flexibility to absorb cyclical shocks that cannot be dealt with by the common monetary policy. At the same time fiscal consolidation must not be put at risk, especially given rising ageing related costs.
Traditionally, the Norwegian compulsory education system has focused strongly on the linked goals of equal opportunities to learn, comprehensive and inclusive education.
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This overview paper examines the financial crisis in light of past country experience and economic theory and draws preliminary policy recommendations.
Luxembourg is today one of the main international centres for investment funds. Besides the sector’s direct and indirect employment effects, the most important effect is the large tax revenue generating capacity of the sector, accounting directly for over 20% of aggregate tax revenues.
The economic downturn and the financial turmoil are intensifying fiscal pressures. In the longer-term, progress towards fiscal sustainability and improving the quality of the public finances remain priorities.
In a context of fiscal surpluses,the Canadian government has been: markedly reducing corporate income and capital taxes; providing more personal tax relief especially at lower incomes and above all for saving; and cutting the federal value added tax (GST).
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This paper proposes a framework for projecting public health and long-term care expenditures. It considers demographic and other (non-demographic) drivers of expenditures. The paper extends demographic drivers by incorporating death-related costs and the health status of the population. Concerning health care, the projections incorporate income and the effects of technology cum relative prices. For long-term care, the effects of
Italy has launched itself in the federalist direction by decentralising spending, regulatory and tax powers in the late 1990s and reinforcing growing lower level responsibilities with a constitutional reform in 2001, as discussed in this working paper.
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Since 2001, OECD corporate net lending has risen sharply. This chapter examines various facets of corporate net lending with a view to understanding some of the main forces at play behind the recent run-up.
Since 2004, the fiscal deficit has been brought down by over 5% of GDP to below the 3% limit in 2006. The government plans a more gradual reduction so that overall balance or surplus is reached no later than 2010. These and other points are discussed in this working paper.