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Hungarian debt level has steadily increased since 2001, with the debt-to-GDP ratio reaching about 84% at end-2011.
This paper investigates the existence of significant spillovers from the housing sector onto the wider economy for the seven major OECD countries using Uhlig's (2005) agnostic identification procedure.
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A set of supplementary questions is also available. These are tried-and-tested questions across a range of relevant topics that can be used in addition to the core questionnaire to provide more detail at the national level.
Financial literacy is recognised as an essential life-skill. On International Women’s Day, this blog discusses gender differences in financial literacy and their potential implications.
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A survey of the literature on asset price impacts on the real economy shows a much wider range of work on consumption and related wealth effects than on investment.
The potential implications of gender differences in financial literacy are far-reaching. This paper describes the findings of a review of the literature on gender differences in financial literacy with the aim to better understand their causes and consequences, as well as possible policy responses. It provides a starting point to collect further evidence, develop analytical work and case studies, and to identify areas that deserve
Going for Growth 2012 takes stock of recent progress in implementing policy reforms to improve labour productivity and utilisation that were identified as priorities in the 2011 edition.
This paper argues that serious fiscal vulnerabilities arising from many years of high government debt will create new and complex interactions between public debt management and monetary policy.
The study concludes that two technical key assumptions need to hold for the standard micro portfolio approach to yield optimal (i.e. cost-minimising) results.We argue that these assumptions do not hold in the current borrowing environment characterized by fiscal dominance with complex links between public debt management and monetary policy.