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Speaking at a conference in Berlin, Angel Gurría says that a new architecture of financial reform together with sustainable fiscal consolidation strategies, structural reforms and efforts to explore new sources of growth will be essential to build a stronger, cleaner and fairer world economy.
Further fiscal easing in late 2008 and early 2009 contributed to a markedly widening fiscal deficit in 2010. A newly enacted fiscal rule will help bring public finances back to a sustainable path, as discussed in this working paper.
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The future growth path in Luxembourg is likely to be weaker than in the past. Pension reform, together with fiscal consolidation, is required to put the public finances on a sustainable footing, while adaptability of the labour market need to be improved to avoid long-term unemployment.
This paper assesses how the shock to aggregate unemployment as a result of the economic crisis may be transmitted to structural unemployment through hysteresis effects that occur through the rise in long-term unemployment.
The future growth path in Luxembourg is likely to be weaker than in the past. Pension reform, together with fiscal consolidation, is required to put the public finances on a sustainable footing, while adaptability of the labour market need to be improved.
OECD' Secretary-General welcomes the fiscal consolidation plan and loan package agreed by the Greek government, its Euro area partners and the International Monetary Fund.
In this interview for the German radio Deutschlandfunk, Angel Gurría warns that delays are threatening the stability of the international financial system and could spread the crisis to other countries.
Faced with unprecedented levels of unemployment, unsustainable fiscal deficits and public debt and weak economic growth, governments need to focus on innovation and pro-green policies as potential new sources of growth, says OECD Secretary-General Angel Gurría.
France has seen a marked deterioration in its export performance in the last 10 years or so. This working paper shows that the resource reallocation argument helps explain French export performance between the early 2000s and 2007, unexplained by traditional models.