OECD Home › Economy › Publications & Documents
Publications & Documents
Spanish, , 368kb
A pesar de contar con fundamentales más sólidos, México no ha escapado a la recesión económica mundial. La contracción de la industria manufacturera internacional y el colapso de la actividad comercial, de manera notable en Estados Unidos, han deprimido el sector real. La reducida disponibilidad de créditos ha comenzado a afectar la actividad económica, aun cuando el sector financiero ha sorteado, hasta ahora, la crisis mundial. Los
There is a case, but there are also counter-arguments. With sufficient forward-looking behaviour among firms and households, price-level targeting can act as a powerful built-in stabiliser through automatic shifts in inflation expectations.
English, , 8kb
External links to: recent economic data; current interest rates and exchange rates; latest macroeconomic reports; current outlook and projections; government budget information; speeches; relevant sites.
The OECD is working to help governments restore confidence and stability in the financial system, soften the impact of the recession and strengthen the global economy over the longer term.
Its strategic response to the crisis covers two main areas:
align regulations and incentives in the financial sector to ensure tighter oversight and risk management;
review and upgrade national policies and improve international coordination to
Labour market outcomes have improved markedly in the past years as the beneficial effects of the economic upswing were reinforced by important structural reforms.
The health care system is seen as not working well by the population. One source of dissatisfaction is the high share of private spending on health. Public health care services need also improvement.
Greece needs to enhance its education performance. While important challenges remain at all levels, early childhood education and care and the upper secondary education are in most need of reforms.
The high public debt and a large pension burden heighten the urgency to improve the efficiency of the public sector to enhance fiscal viability and restore room for manoeuvre for stabilization policy.
High public debt leaves virtually no room for fiscal manoeuvre to limit the impact of the crisis in Greece. The close trade and banking links established with the Balkan countries might be a risk in the near future.
Fiscal policy is highly dependent on volatile oil income. The balanced budget rule can create a bias for spending oil revenues as they are earned, especially as transfers to the stabilization funds are limited by caps at low levels. This can potentially lead to a pro-cyclical bias in fiscal policy. Revenues have also been lower than they could have, if gasoline prices had adjusted with international prices instead of a price smoothing