This paper uses a simple dynamic stochastic general equilibrium model to explore the qualitative impact of productivity shocks on current account positions via their impact on the saving behaviour of households.
“We must be able to grow our economy in ways that the earth can sustain. That means growth without carbon and using the earth’s amazing larder of natural resources in ways that keep ecosystems healthy.” says WWF chief James P. Leape
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Policy Note: Health care systems: getting more value for money
People in OECD countries are healthier than ever before, as shown by longer life expectancy and lower mortality for diseases such as cancer. At the same time, total spending on health care now absorbs over 9% of GDP on average in the OECD.
In his remarks to "Making Reform Happen", Angel Gurría said that "well-designed and well-implemented reforms yield a triple dividend. They lift output and employment; they strengthen public budgets and they rebalance global demand."
The process of fiscal consolidation and the need to step up the poor long term economic performance provide an opportunity to implement tax measures to improve efficiency and rebalance the economy.
Large shifts in countries’ external current account positions can be disruptive, often reflecting sudden stops in the flows of external finance and leading to exchange rate and banking crises.
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This chapter discusses the size of current consolidation requirements and the pace at which budget positions should be strengthened in the context of a set of macroeconomic projections to 2025.
Angel Gurría recalled the role played by the OECD Bologna Process and Charter and the "need to harness the potential of SMEs and entrepreneurs in the fight against unemployment, social exclusion and poverty" in his remarks to the “Bologna+10” High-level Meeting.
Turkey has considerably improved its terms of access to the global capital market. Progress in macroeconomic fundamentals has enhanced credibility and reduced risk premia and capital costs.