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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.
In 2008, the Czech government implemented a major overhaul of the personal income tax (PIT), replacing the previous progressive rate schedule with a single 15% rate levied on an enlarged base.
This paper presents in summary form the findings that emerge from a study of 20 structural reform episodes in 10 OECD countries.
This paper takes stock of recent labour market developments, highlights some of the key uncertainties, and discusses the policy options available to damp any further, structural deterioration in labour markets and facilitate an eventual, sustained, job-rich recovery.