Taking stock of existing structural policy and outcome indicators

This paper reviews and assesses in terms of availability, reliability and transparency existing policy and outcome indicators that have been found to be linked both directly and indirectly to economic growth and living standards.

Stabilization Effects of Social Spending: Empirical Evidence from a Panel of OECD Countries

The aim of this paper is to assess the ability of social spending to smooth output shocks and to provide stabilization. The results show that overall social spending is able to smooth about 16 percent of a shock to GDP.

Financial market stability in the European Union: Enhancing regulation and supervision

Although the European authorities should be commended for the progress they have made in updating and improving frameworks and responding to the financial turmoil, more can be done.

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Boosting productivity in Korea’s service sector

Increasing productivity growth in the service sector, which accounts for 67% of employment and 58% of value added in Korea, is essential to sustain high potential growth.

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Overcoming the Financial Crisis in the United States

The global financial crisis that emerged in mid 2007 has caused considerable economic disruptions in the United States and elsewhere, and exposed major flaws in the global financial system.

Reforming the tax system in Korea to promote economic growth and cope with rapid population ageing

Korea has one of the lowest tax burdens in the OECD area, reflecting its small public sector. However, rapid population ageing will put upward pressure on government spending.

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Sustaining growth in Korea by reforming the labour market and improving the education system

The age of retirement of employees should be raised by eliminating mandatory retirement and phasing out the retirement allowance. Active labour market policies should focus on policies to expand human capital rather than wage subsidies.

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Reforms to open sheltered sectors to competition in Switzerland

This paper discusses measures to make the regulation of product markets more conducive to competition play a prominent role in the government’s “growth package” of measures to stimulate economic growth which are in the process of being implemented.

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Financial crises: past lessons and policy implications

This overview paper examines the financial crisis in light of past country experience and economic theory and sets out some preliminary policy recommendations.

Raising education outcomes in Spain

Impressive progress has been made in raising participation in early childhood education as well as tertiary educational attainment over the past 30 years. However, the inflow of poorly educated youth into the labour market is unusually heavy for a high income country.

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• Economic Survey of Spain 2008