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Central banks have responded with exceptional vigour to the crisis by using their traditional interest-rate tools to their limits and deploying a wide range of unconventional measures.
The world is recovering from the worst crisis since the Great Depression, leaving a strong and lasting impact on Member countries’ public finances. This paper analyses how sub-central governments are affected and how fiscal policy has reacted in the first months after the outbreak of the crisis.
English, PDF, 155kb
This chapter assesses recent cross-country patterns in intergenerational social mobility and examines the role that public policies play in affecting mobility.
This chapter suggests ways to further bolster the economy’s resilience against shocks by sharpening the fiscal rule in copper price booms, while making room to relax it more in severe downturns.
This paper considers the role of the automobile industry in the current cycle. It shows that the industry is economically important and its cycle is intertwined with business cycles.
Monetary policy and inflation prospects are broadly sound in Israel, but significant challenges remain for fiscal policy in reducing public debt.
Individual elements in the Belgian tax system affect the growth process through different channels and to a varying degree.
The paper discusses the current state of fiscal relations across levels of government in Belgium and how it has developed over time.
Japan’s health-care system has provided universal access to care and contributed to the outstanding health status of the Japanese. Public spending has been kept below the OECD average through high co-payment rates and reductions in medical fees.
This paper examines how a range of stability-oriented regulatory policies for banking and insurance are related to selected stability and competition outcomes in these sectors.