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The global crisis has left the OECD area with lower potential output and a high government debt burden. Moreover, global imbalances are beginning to widen again.
Higher oil prices and the prospect of higher borrowing costs are likely to reduce the productive potential of OECD economies. The present study provides illustrative numerical estimates of the impact under different scenarios using a stylised model based on a production function.
The German banking system came under pressure during the financial crisis, not least due to its significant exposure to toxic assets which originated in the US. In the short run, the stability of the system has been achieved, as discussed in this working paper.
- Economic Survey of Germany 2010
G20 countries need to keep up the momentum of structural economic reform in order to boost confidence and job creation, OECD Secretary-General Angel Gurria tells G20 leaders.
Meeting of NERO, 25 June 2010
OECD Secretary-General Angel Gurría hailed the budgetary measures announced today by U.K. Chancellor of the Exchequer George Osborne as a courageous move that will underpin fiscal consolidation while supporting economic recovery.
The global crisis exposed weaknesses in the Hungarian financial system that pose risks to financial stability, as discussed in this working paper.
- Economic Survey of Hungary 2010
Productivity growth has declined since the late 1990s, slowing the catching-up process. Structural reforms to strengthen competition, entrepreneurship and innovation would go a long way toward enhancing it.
- Economic Survey of Chile 2010
Product market regulation on average is Slovenia does not appear particularly stringent, but heavy state involvement and high market concentration in several industries call for the gauging of competitive pressures in Slovenian industries.
- Economic Survey of Slovenia 2009
Chile has made impressive progress in educational attainment. Yet, despite recent improvements, outcomes, as measured by PISA results, still need to catch up with OECD standards and equity problems should be addressed.