Working Papers

  • 16-December-2010


    Real house prices in OECD countries: the role of demand shocks and structural and policy factors

    This paper analyses the factors influencing the level and volatility of real house prices in a panel of OECD countries over the period 1980-2005.

  • 15-December-2010


    Minimising risks from imbalances in European banking

    The euro area financial system took excessive risks during the global credit boom, which in some countries led to an unsustainable increase in credit, higher asset prices and housing booms.

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  • 9-December-2010


    The 2008-09 crisis in Turkey: performance, policy responses and challenges for sustaining the recovery

    Turkey is recovering from its most severe recession in several decades.

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  • 18-November-2010


    Are global imbalances sustainable? Shedding further light on the causes of current account reversals

    Large shifts in countries’ external current account positions can be disruptive, often reflecting sudden stops in the flows of external finance and leading to exchange rate and banking crises.

  • 15-November-2010


    Turkey's improving integration with the global capital market: Impacts on risk premia and capital costs

    Turkey has considerably improved its terms of access to the global capital market. Progress in macroeconomic fundamentals has enhanced credibility and reduced risk premia and capital costs.

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  • 8-September-2010

    English, , 293kb

    The New IAS 19 Exposure Draft, OECD Working Paper on Finance, Insurance and Private Pensions No.5

    At the end of April 2010, the International Accounting Standards Board (IASB) published an exposure draft with proposed changes to International Accounting Standard No. 19 (IAS 19). IAS 19 is the current standard for the financial reporting of company pension obligations that stem from defined benefit (DB) and similar plans. It is required for exchange-listed companies in many parts of the world. If enacted, the changes to IAS 19

  • 13-August-2010

    English, , 446kb

    The EU Stress Test and Sovereign Debt Exposures, OECD Working Paper on Finance, Insurance and Private Pensions No.4

    This paper shows that most sovereign debt is held on the banking books of banks, whereas the EU stress test considered only their small trading book exposures. It discusses why sovereign debt held in the banking book cannot be ignored by investors and creditors, because of recovery values in the event of individual bank failures; and fiscal sustainability and structural competitiveness issues which mean the market cannot give a zero

  • 30-July-2010


    The Korean financial system: overcoming the global financial crisis and addressing remaining problems

    The intensification of the global financial crisis in late 2008 led to large capital outflows from Korea and turmoil in its capital markets.

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  • 27-July-2010


    Are global imbalances sustainable? Post-crisis scenarios

    This paper assesses the sustainability of global imbalances by testing for the presence of unit roots in the current account positions of the United States, China, Japan, Germany and the oil-exporting countries using a methodology that allows for structural breaks in levels and trends.

  • 22-July-2010

    English, , 536kb

    The Impact of the Financial Crisis on Defined Benefit Plans and the Need for Counter-Cyclical Funding Regulations, OECD Working Paper on Finance, Insurance and Private Pensions No.3

    This paper discusses the impact of the crisis on defined benefit (DB) pension schemes and the temporary responses taken by regulators to help ease financially strained plan sponsors. It presents suggestions to governments and policy makers for making funding regulations more counter-cyclical in nature. Such measures could strengthen the security of DB benefits and help to maintain DB plans for future workers.

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