Latest Documents


16-October-2013

English

Policies for inclusive urbanisation in China

Urbanisation in China has long been held back by various restrictions on land and internal migration but has taken off since the 1990s, as these impediments started to be gradually relaxed. People have moved in large numbers to richer cities, where productivity is higher and has increased further thanks to agglomeration effects.

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9-October-2013

English

Fiscal devaluation – can it help to boost competitiveness?

The recent crisis has revealed large differences in external competitiveness between euro area member countries. Since nominal exchange rate devaluation is not an option for members of a currency area, governments in troubled member countries have been considering so-called fiscal devaluation, i.e. a shift from employers’ social security contribution to value added tax, as an alternative means to restore competitiveness.

1-October-2013

English

How to achieve growth- and equity-friendly fiscal consolidation?

Despite sustained efforts made in recent years to rein in budget deficits, a majority of OECD countries still face substantial fiscal consolidation needs. The choices made about which spending areas to curtail and which taxes to hike will have implications for near-term activity and long-term growth as well as for equity and the current account.

20-August-2013

English

Japan's challenging debt dynamics

This working paper presents the background and the details of the simulations behind Box 1.4 of the May 2013 OECD Economic Outlook. A small simulation model is used to evaluate the contribution that the three pillars of the government’s strategy – fiscal consolidation, growth-boosting structural reforms and higher inflation – could make to reversing the rise in Japan’s public debt ratio.

5-August-2013

English

Improving fiscal federal relations for a stronger Mexico

Mexico has achieved a high degree of decentralisation in public services, but the Mexican fiscal federal system has important shortcomings. States and municipalities have become heavily dependent on federal transfers to finance a growing share of public spending.

Related Documents

5-August-2013

English

Deleveraging: challenges, progress and policies

In the run-up to the financial crisis, indebtedness of households and non-financial businesses rose to historically high levels in many OECD countries; gross debt of financial companies rose dramatically relative to GDP. Much of the debt accumulation appears to have been based on excessive risk-taking and exceptional macro-economic conditions and therefore not sustainable.

3-July-2013

English

A simple fiscal stress testing model - case studies of Austrian, Czech and German economies

This paper develops a simple model-based framework for stress testing fiscal consolidation strategies under different scenarios of future shocks

2-July-2013

English

Fiscal consolidation across government levels. Part 3: Intergovernmental grants, pro- or counter-cyclical?

This paper provides empirical analysis that measures the cyclical properties of intergovernmental transfers (or grants). Modelling a fiscal policy reaction function this paper tests whether the transfers systems in OECD countries are pro- or counter-cyclical, i.e. whether they offset cyclical fluctuations of sub-central economies or, on the contrary, exacerbate them.

2-July-2013

English

Fiscal consolidation across government levels. Part 2: Fiscal rules for sub-central governments, update of the institutional indicator

Fiscal rules that constrain sub-central government (SCG) budgeting are very common across the OECD, but there are substantial cross-country differences in their implementation and impact. This paper presents the 2011 update of the fiscal rules database established in 2005.

2-July-2013

English

Fiscal consolidation across government levels. Part 1: How much, what policies?

This paper provides an overview of fiscal consolidation efforts at the central and sub-central government level, both during the current and past consolidation episodes.

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