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Estonia is recovering from a deep recession. Main policy challenges are: avoid cyclical unemployment becoming structural; strengthen fiscal framework; address non performing loans; reap efficiency gains in government operations and make more out of globalisation as a sustainable driver of growth
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.
Composite leading indicators (CLIs) for February 2011, designed to anticipate turning points in economic activity relative to trend, continue pointing to expansion in most OECD countries.
Australia faces the mutually reinforced challenges of boosting labour supply and promoting social inclusion. Labour underutilisation is especially prevalent among groups such as lone parents, people with disability, and Indigenous Australians.
- Economic Survey of Australia 2010
Going for Growth 2011 takes stock of recent progress in implementing policy reforms to improve labour productivity and utilisation that were identified as priorities in the 2010 edition.
The capacity of fiscal and monetary policies to further support the recovery is pretty much exhausted, so a new emphasis on implementing structural reforms is the only way to boost growth and job creation, said OECD Secretary-General during the presentation of Going for Growth 2011 in Budapest.