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Presentation by OECD Chief Economist Jean-Philippe Cotis at the London Press Conference for the launch of "Economic Policy Reforms: Going for Growth," 1 March 2005. Across the OECD, governments are seeking to undertake structural reforms to foster their economic growth. This new publication takes stock of the progress made made in implementing policy reforms and suggests priorities for the future reform agenda in each member
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OECD Economic Outlook No. 76, chapter IV. The oil price has more than doubled in dollar terms since the late 1990s, while increasing substantially, though somewhat less, in terms of the other major currencies. The chapter begins by investigating the fundamentals driving longer-term oil market developments and the implications for the long-run equilibrium price. It then identifies short-term influences which may have caused risk
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OECD Economic Outlook No. 76, chapter V. Fiscal policy has been used as an antidote to weak activity during the most recent downturn and fiscal consolidation has been delayed in some countries because of its perceived costs in terms of lower activity. However, the impact of fiscal policy on aggregate demand depends on the responses of private saving to changes in fiscal stance. In certain circumstances budget deficit shifts can be
Since the early 1990s, when France's general government deficit reached a disturbing 6% of GDP, the country's public finances have progressed substantially, even though significantly further improvement is required. This paper examines the tools available to policy makers to meet this challenge.
Key indicators show Germany belonging to the countries in the OECD with strong innovation activity even though some weakening in Germany’s position relative to other OECD countries has occurred recently, as discussed in this working paper.
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Retirement incentives contained in old-age pensions and other social transfer programmes explain a sizeable share of past declines and current differences between countries in older males’ participation in the labour force. OECD Economics Studies No. 37.
Despite the recent enlargement of the EU, Central Europe faces sluggish growth prospects, unless labour-market policies are made more job-friendly, as discussed in this working paper.
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OECD Economic Outlook No. 75, ch. VII. After nearly fifteen years of transition, the countries of Central Europe have entered the European Union on 1 May 2004. This chapter examines the consequences of this event for the four acceding countries that are members of the OECD (Czech Republic, Hungary, Poland and Slovak Republic).
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Chapter IV of the OECD Economic Outlook No. 75. Buoyant house prices give a greater boost to consumer spending in countries with more diversified mortgage markets. But distortions to the housing market, such as tax breaks, should be avoided to counter excessive price volatility.
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OECD Economic Outlook No. 75, chapter V. Narrowing the large current account deficit would require major changes to exchange rates, to fiscal policy or to the competitiveness of US exports - all of which would impose costs on the US and its on trading partners.