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The financial crisis revealed flaws in pre-crisis policy frameworks.
Angel Gurría declared that "building on the trust we have established over the years, Russia is advancing on the accession track to become a member of the OECD. The accession process can be seen as a joint initiative to support Russia’s objective of modernising its economy."
Nearly two years after production began to recover from the worst recession to have hit OECD countries since the 1930s, the labour market situation remains a major preoccupation.
"The OECD has absolute confidence in Japan’s capacity to overcome the Great East Japan Earthquake, building on its unique stock of human capital, financial wealth, technology and discipline.", said Angel Gurría for the launch of the OECD’s Economic Survey of Japan in Tokyo.
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Aggregate demand policies have a role to play in supporting the economic recovery and stimulate jobs. Enhancing vocational training is desirable, even if beefing-up such programmes may be difficult in countries facing large budget deficits or with limited training infrastructure.
This paper presents an empirical analysis of the determinants of inflation in the United States, Japan, the euro area and the United Kingdom, focusing on the role of resource utilisation, inflation expectations, inflation persistence and imported inflation.
Quoting a joint analysis made by the OECD and the IEA, G20 Leaders committed in September 2009 to “rationalize and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption”.
This paper presents a stylised model in which either a savings glut or an exchange rate peg in emerging economies drives down the level of interest rates in advanced economies and, when it hits the zero-rate bound, produces a welfare loss.
Interest rate pass-through during the global financial crisis: the case of SwedenA stable relationship between monetary policy rates and bank lending and deposit rates faced by consumers and companies is essential for the effective transmission of monetary policy decisions.
- Economic Survey of Sweden 2011
Cutting the public deficit through a stricter budgeting framework and improving the housing market with taxation and funding reforms are among the recommendations in the OECD’s latest Economic Survey of France.