English, PDF, 586kb
In several OECD countries, ongoing fiscal consolidation might have a negative impact on the static income distribution. However, this conclusion should be treated only as an approximate first step in the analysis.
English, PDF, 485kb
The well performing labour market has delivered low unemployment and relatively stable wage developments.
English, PDF, 522kb
The Netherlands has strongly benefited from globalisation, which boosted international trade, cross-border investment and economic growth over the latest decades.
English, PDF, 508kb
The Netherlands, as other OECD countries, faces the challenge of providing high quality health and long term care services to an ageing population in a cost-efficient manner.
English, PDF, 555kb
The global crisis led to a smaller increase in the unemployment rate than in most other OECD countries as employment has been sustained through intensive use of reduced working time schemes.
English, PDF, 456kb
Public and private debt levels are very high by historical standards. OECD-wide total financial liabilities now exceed 1 000% of GDP. High debt levels can create vulnerabilities, which amplify and transmit macroeconomic and asset price shocks.
Big changes are needed to strengthen the capital positions of euro area banks. European banks remain at the heart of the euro area crisis. Despite actions to strengthen banks and build a banking union, confidence in the euro area banking system remains weak, and is likely to remain so until underlying concerns over low capitalisation of some banks are addressed.
The Australian economy is robust and faces a solid short-term outlook, but it must continue adapting to ensure that its privileged place in the Asia-Pacific region contributes to long-term sustainable growth, according to the OECD’s latest Economic Survey of Australia.
The euro area crisis finds its roots in the credit booms seen in many countries following the introduction of the euro in 1999. Easy credit led to strong growth in a range of sectors, notably housing, as well as higher levels of public spending. Inflation in these over-heating economies was higher than the euro area as a whole. Rising prices led to rising costs and a loss of international competitiveness.
Secretary-General Angel Gurría led a discussion focusing on the challenges for global economic governance to stabilize the global economic system at the 5th IFRI World Policy Conference held in Cannes on 8 December.