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We assess fiscal policy from the perspective of fairness between generations and the relationship between this and national saving, in the context where the United Kingdom is the lowest-saving of all the OECD economies.
Capital - in particular of the physical sort - plays several roles in economic life: it constitutes wealth and it it provides services in production processes. Capital is invested, disinvested and it depreciates and becomes obsolescent and there is a question how to measure all these dimensions of capital in industry and national accounts. This revised Capital Manual is a comprehensive guide to the approaches toward capital measurement. It gives statisticians, researchers and analysts practical advice while providing theoretical background and an overview of the relevant literature. The manual comes in three parts - a first part with a non-technical description with the main concepts and steps involved in measuring capital; a second part directed at implementation and a third part outlining theory and a more complete mathematical formulation of the measurement process.
This working paper suggests that restoring competitiveness will require strengthening France's growth potential and to address the main long term determinants of that potential, such as fostering R&D, promoting innovation, reducing the tax burden, boosting competition and so on.
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.
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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 OECD’s latest economic survey of Mexico, to be published on Thursday 30 July 2009, looks at the challenges posed by the global economic crisis. It also discusses longer-term reform in areas such as health and education.
This paper reviews the supervisory and regulatory framework and the many reforms that have already been adopted to remedy these weaknesses. It also provides recommendations for further reforms.
This paper provides an overview of the organisation and financing of the National Health Service, reviews its performance, assesses the reforms since the start of the decade and provides recommendations for further development.