Recent reforms have made pension systems more financially sustainable and pensioners have higher living standards than ever before. But future generations are likely to find their pension entitlements much less generous than today’s and many may face a serious risk of pensioner poverty, according to a new OECD report.
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Brazil has made significant progress in building a reputation for sound fiscal policy since it passed the Fiscal Responsibility Law in 2000. In recent years, however, the fiscal situation has become more difficult as public spending and gross debt have risen.
Transport accounts for nearly a quarter of carbon dioxide emissions from fuel combustion. The price attached to these emissions is critical to climate policies and emissions mitigation efforts in the sector. As the impact of emissions on climate does not depend on where CO2 is released, the price of carbon should be uniform. In reality, however, it varies immensely, reflecting the complexity of assessing climate impacts.
This report reviews the three key challenges in considering the effects of carbon dioxide emissions in economic appraisal: the valuation of carbon dioxide emissions, the treatment of uncertainty in climate change and the approach used to discounting future costs and benefits. The report reviews current approaches in selected countries (France, Germany, Japan, The Netherlands, New Zealand, Norway, Sweden, the United Kingdom and the United States) and provides examples of good practice and recommendations for national and international policy making.
The New International Airport of Mexico City (NAICM) should position Mexico as a regional hub and improve its competitiveness. It is scheduled to be operational in 2020 in answer to the pressing need for the expansion of the city's airport capabilities. The airport, whose construction is managed by a state-owned entity (GACM), is currently the largest Mexican infrastructure project.
A project of this magnitude requires tailored strategic frameworks and actions in several policy areas. Building on international experience, this report provides a comprehensive assessment, and analysis and recommendations in four key dimensions contributing to the effective delivery of large infrastructure projects: governance, procurement, integrity and communication.
Intergovernmental fiscal institutions are the overarching framework for relations across government levels. They comprise the constitutional set up of a country; the division of power between government levels; the prevalence of fiscal rules across government levels; intergovernmental budget frameworks; the role of independent bodies such as fiscal councils in shaping fiscal relations; the inter-ministerial organisation of fiscal decision making; and other framework conditions shaping intergovernmental fiscal relations and fiscal policy. This book brings together academics and practitioners dealing with or being involved in shaping the institutions of intergovernmental fiscal relations. It has an interdisciplinary focus and provides insight from various academic or practitioners’ fields: economists, political scientists, budget management specialists and others.
This report provides an overview of Ireland’s current system of parliamentary engagement in the national budget process and suggests ways in which this engagement might be made more effective.
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Japan Spotlight interview with OECD's Rolf Alter on guidelines for global risk management. Source, “Economy, Culture & History Japan SPOTLIGHT Bimonthly” November/December 2015 edition p16-18 (published by Japan Economic Foundation).
For most countries in the OECD, 2015 is the seventh or eighth year of dealing with the budgetary consequences of the economic and financial crisis. These years have been marked by challenges of fiscal retrenchment of a scale and nature unprecedented in modern times. Previous OECD publications have tracked the fiscal policy responses adopted by OECD governments during the early years of the crisis (2007-2012). This book takes stock of how these responses have evolved and in recent years, up to 2014/15. Two points are apparent from the outset: the response to the crisis has had repercussions for virtually every aspect of budgetary governance; and there are clear lessons for governments about the conduct of fiscal policy – including in its institutional aspects – that should inform future decisions and the agenda of budgetary reform.
We are here today because we share a common cause: better governance for better lives. And, today, we have an excellent opportunity to reflect on the vital role of supreme audit institutions – or SAIs – in achieving this goal.
This report maps how ten leading SAIs are assessing key stages of the policy cycle and its outcomes (policies and programmes), building on the experience of the SAIs of Brazil, Canada, Chile, France, Korea, the Netherlands, Poland, Portugal, South Africa and the United States.