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The potential growth rate of the economy has been low for a long time and the crisis has had a further adverse impact, as discussed in this working paper.
- Economic Survey of Germany 2010
Governments and central banks have implemented wide-ranging support packages in response to the global crisis. Discretionary fiscal measures, coupled with cyclical revenue losses and expenditure hikes, have resulted in a sharp increase in budget deficits, which are projected to peak at 8¼ per cent of GDP in the OECD area as a whole in 2010. How to get out of this dangerous spiral? How can we address this challenge while at the same
This paper explores the political economy of fiscal adjustment.
Maintaining high participation and employment in the face of the recent recession and a rapidly ageing population are major challenges for policy makers in Finland.
The deep scars of the crisis can be relieved through appropriate policy action, particularly in competition, jobs, taxes and financial services. This would bolster long-term growth too.
William White, Chair, OECD Economic and Development Review Committee on tackling imbalances and avoiding another crisis.
Bayesian Model Averaging techniques are used to analyse how robustly it is possible to identify factors that may lead to the bursting of asset price bubbles in OECD economies.
The data and a range of other indicators of the crisis and its aftermath can be found in the OECD’s Factbook 2010, an annual digest of economic, social and environmental statistics.
The transition paths from plan to market have varied markedly across countries.
Global external imbalances widened persistently over the last several years and have narrowed abruptly over the course of the financial crisis.