18-September-2014
English
Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process.
5-September-2014
English
Entrepreneurship is an important driver of economic growth, job creation and competitiveness. However, the small and medium-sized enterprises (SME) sector has been severely affected by the crisis, with access to bank finance being particularly difficult.
5-September-2014
English
Dutch banks were put under heavy strains early in the global downturn and have comparatively weak financial buffers to cope with new shocks. Falling house prices have increased the share of households with negative home equity to nearly 35% for home-owning households and 40% for mortgage holders.
29-July-2014
English
This paper studies the association between US long term interest rates and cycles of capital flows to emerging market economies (EMEs). It finds that, indeed, cycles in capital flows to EMEs are linked to global conditions, including global risk aversion and long term interest rates in the United States.
24-July-2014
English
House prices have increased significantly in Canada over the past decade, driving household debt and residential construction activity to historical highs.
13-June-2014
English
In Norway house prices have risen to high levels, associated with very strong credit growth, in a context of low interest rates. Such a combination was in many countries a contributory factor to the 2008-09 crisis.
11-June-2014
English
Canada’s economic growth remains solid. However, the energy-sector boom has widened regional disparities and raised environmental challenges. House prices and household debt have increased to high levels. Skills shortages have emerged.
21-May-2014
English
The prospective normalisation of monetary policies in the main OECD areas will be challenging given that current policy rates are likely to be significantly below neutral levels and that central bank balance sheets will be above the pre-crisis levels by a wide margin.
24-April-2014
English
Ensuring tax and transfer systems bring sufficient revenue to reach macroeconomic fiscal targets, address societal goals in re-distribution and social welfare, recognise the influence taxation has on businesses’ competitiveness and adequately address environmental externalities is a tough challenge, arguably more so in Israel than in many other OECD countries.
1-April-2014
English
This paper surveys recent international developments concerning the prudential regulation of financial institutions: banks, the shadow banking system and insurance companies. It concludes that, while substantial progress has been made, the global economy nevertheless remains vulnerable to possible future financial instability.