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Given current levels of uncertainty, it is quite a challenge to discuss the outlook for the global economy in the months to come. But I will take the risk, and share the OECD’s assessment of the forces shaping the near-term outlook, the risks surrounding our projections and the major policy challenges facing many OECD countries.
This paper explores the role of macroeconomic factors and structural policies in shaping the distribution of labour income.
Poverty is an important policy issue in OECD countries and the recent crisis has made it even more pressing. This paper highlights poverty rate differences across countries and reviews the various policies to tackle it.
Unconditional and conditional quantile regressions are used to explore the determinants of labour earnings at different parts of the distribution and, hence, the determinants of overall labour earnings inequality.
The wealth distribution within OECD countries is very concentrated and much more so than the income distribution. Wealth dispersion is especially high in the United States and Sweden.
The assessment is little changed compared to last month for most countries, but the CLIs for Japan, United States and Russia are showing stronger signs of a positive change in momentum and remain above long-term trend.
OECD countries face daunting fiscal challenges following the substantial surge in debt-GDP ratios during the past four years, from already high levels in many cases.
Over the past decades, top incomes have soared, especially in the English-speaking countries. Despite a considerable amount of research on top income developments, there is still substantial disagreement about the causes for their rapid increase.
Taxes and transfers reduce inequality in disposable income relative to market income. The effect varies, however, across OECD countries.
The global economic and financial crisis exacerbated the need for fiscal consolidation in many OECD countries.