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English, , 102kb
In the wake of the financial crisis, government debt in the OECD area has increased massively on top of already high debt-GDP ratios prior to the crisis, by some 30% of GDP between 2007 and 2011 on average, rendering fiscal positions in many countries unsustainable.
This paper studies the impact of recent changes in second pension pillars of three Central and Eastern European Countries on the deficit and implicit debt of their full pension systems.
English, , 495kb
Public debt in the OECD area passed annual GDP in 2011 and is still rising. This paper was prepared for the Reserve Bank of India Second International Research Conference 2012: “Monetary Policy, Sovereign Debt and Financial Stability: The New Trilemma”, 1-2 February, 2012 in Mumbai, India
Europe's sovereign debt crisis has exposed structural weaknesses in economic governance that now threaten the entire euro region. Efforts to reinforce public finances and preserve the currency union must go further than solutions proposed to date.
A carbon intensive energy system in the Czech Republic contributes to one of the highest ratios of greenhouse gas (GHG) emissions to GDP in the OECD.
The history of economic policymaking has been marked by a succession of “paradigms” defining the goals of economic policy and the instruments used to attain them. OECD Chief Economist Pier Carlo Padoan looks at where we go from here.
Using empirical evidence from panel analysis of current account dynamics and of bilateral trade balances, the paper argues that the large German current account surplus during the 2000s can be explained by an increasing gap between productivity growth in manufacturing vis-à-vis services.
Despite significant increases in spending on child care and education during the last decade, PISA scores suggest that educational performance remains static, uneven and strongly related to parents’ income and background.
Switzerland has made a broadly balanced recovery from the economic crisis, but slower activity in Europe and pressures on the Swiss franc weigh on the near-term outlook, according to the latest Economic Survey of Switzerland.
Switzerland has made a broadly balanced recovery from the economic crisis, but slower activity in Europe and pressures on the Swiss franc weigh on the near-term outlook, according to the OECD Secretary-General.