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

The economic crisis has led to a surge in government deficits and pushed public indebtedness to 100% of GDP for the OECD as a whole in 2011. New research shows that bringing debt down to prudent levels will require sustained fiscal consolidation in most OECD countries.

Tax reform in Norway: a focus on capital taxation

Norway’s dual income tax system achieves high levels of revenue collection and income redistribution, without overly undermining economic performance and while paying attention to environmental externalities.

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• Economic Survey of Norway 2012

Assessing the sensitivity of Hungarian debt sustainability to macroeconomic shocks under two fiscal policy reactions

Hungarian debt level has steadily increased since 2001, with the debt-to-GDP ratio reaching about 84% at end-2011.

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• Economic Survey of Hungary 2012

Work incentives and recent reforms of the tax and benefit system in Hungary

Reducing the extent of inactivity and promoting labour supply is essential to foster labour market outcomes in Hungary in the medium term.

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• Economic Survey of Hungary 2012

Non-Keynesian effects of fiscal consolidation: an analysis with an estimated DSGE model for the Hungarian economy

Using an estimated DSGE model for Hungary, the paper identifies the possible non-Keynesian channels through which a fiscal consolidation may manifest as expansionary.

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• Economic Survey of Hungary 2012

Fiscal consolidation: Part 2. Fiscal multipliers and fiscal consolidations

This paper provides an analysis of large and sustained fiscal consolidation episodes in OECD countries implemented between 1980 and 2000.

Fiscal consolidation: Part 4. Case studies of large fiscal consolidation episodes

This paper provides an analysis of large and sustained fiscal consolidation episodes in OECD countries implemented between 1980 and 2000.

Risk sharing

Macroeconomic crises and shocks often cause large and unforeseen income and employment losses. This chapter presents new OECD analysis of the types of policies that have helped to protect the most vulnerable from these losses in a wide group of OECD and emerging countries.

Building blocks for a better functioning housing market in Chile

Chile has made good progress in improving housing conditions, but still around 10% of the population lives in either overcrowded houses, or of inadequate quality and/or with poor access to basic services.

Policy note no. 10: Managing government debt and assets after the crisis

In the wake of the financial crisis, government debt in the OECD area has increased massively on top of already high debt-GDP ratios prior to the crisis, by some 30% of GDP between 2007 and 2011 on average, rendering fiscal positions in many countries unsustainable.