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This report addresses the question of ageing societies from a perspective that integrates implications and solutions for both healthcare and pensions, whereas most reports look separately at one or the other. The report focuses on opportunities, whereas most previous ones have focused primarily on risks. Finally, the report provides an overview of a broad set of practical solutions, ranging from the existing, but underappreciated, to
Inflation performance has been unsatisfactory. By joining the euro area, Iceland would share the benefits of the ECB’s credibility. Substantial fiscal consolidation is required following the financial crisis.
Iceland’s main banks, which had pursued risky expansion strategies, failed in the wake of the global financial crisis, plunging the economy into a deep recession. Prudential supervision needs to be improved.
There is a case, but there are also counter-arguments. With sufficient forward-looking behaviour among firms and households, price-level targeting can act as a powerful built-in stabiliser through automatic shifts in inflation expectations.
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The OECD is working to help governments restore confidence and stability in the financial system, soften the impact of the recession and strengthen the global economy over the longer term.
Its strategic response to the crisis covers two main areas:
align regulations and incentives in the financial sector to ensure tighter oversight and risk management;
review and upgrade national policies and improve international coordination to
High public debt leaves virtually no room for fiscal manoeuvre to limit the impact of the crisis in Greece. The close trade and banking links established with the Balkan countries might be a risk in the near future.
Despite improved fundamentals, Mexico is hit hard by the financial crisis, being exposed to several simultaneous external shocks. A welcome, but weak, stimulus was passed for 2009, and policy will likely need to be supportive also in 2010.
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This paper provides background on insurer corporate governance, describes practices and identifies possible regulatory and supervisory issues. It was developed jointly by the OECD and the IAIS.
This paper reviews the supervisory and regulatory framework and the many reforms that have already been adopted to remedy these weaknesses. It also provides recommendations for further reforms.