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Co-operation is required between regional financial supervisory authorities to mitigate risks to financial stability as well as cyclical volatility in housing and construction. Financial stability could be strengthened by increasing households’ financial literacy.
More flexible labour markets will be a key adjustment mechanism in the current recession as well as in the medium term if Estonia is to become a knowledge-based economy.
New Zealand’s living standards remain well below the OECD average, a situation attributable to low productivity, which in turn is related to economic geography as well as structural policy factors.
Macroeconomic imbalances, along with the present reversals in global risk appetite and credit availability, present a risk of sudden and costly macroeconomic adjustments.
English, , 305kb
The Irish economy has performed remarkably well over the past decade, propelling per capita income to above the EU average. Though the period of rapid catch-up has ended and productivity growth has slowed in recent years, the economic fundamentals remain strong. Economic activity has been fuelled by strong domestic demand but is now easing. In the short run, wage restraint and labour market flexibility will be important to continue to
Trends in demography, technology and costs will exert mounting and unaffordable pressures on health spending, underlining the need to control health care costs and to put limits on public coverage.
German, , 334kb
Nach einer längeren Phase der Stagnation hat Deutschland eine kräftige Erholung erlebt. Die Unternehmens- und Staatsfinanzen sind robust, so dass ein solides Fundament für eine Fortsetzung des Aufschwungs gegeben ist, sofern die von den globalen Finanzmarktturbulenzen ausgehenden Bremseffekte nicht zu stark werden. Damit das hohe Wirtschaftswachstum über den Konjunkturaufschwung hinaus andauern kann, muss allerdings die Wachstumsrate
English, , 316kb
Following a prolonged period of stagnation, Germany has been enjoying a vigorous recovery. Business and government finances are robust, laying a solid foundation for a continuation of the upswing provided that headwinds from the global financial market turmoil do not become overwhelming. Nevertheless, for high economic growth to last beyond the cyclical upswing, it will be necessary to raise the growth rate of potential output. Past
English, , 335kb
The Japanese economy is experiencing the longest expansion in its post-war history, and growth is projected to continue at a 1½ to 2% rate over the next two years. This expansion has been largely driven by buoyant business investment and strong export growth, especially to other Asian countries. Moving forward, Japan faces a number of challenges to sustained growth, most notably persistent deflation, a large and growing public debt