Slow productivity growth in advanced economies holds back income gains and therefore improvements in well-being.
Thailand’s "sufficiency economy philosophy" encourages the prioritisation of long-term sustainability over short-term benefits.
Finland raises a large amount of taxes to finance high-quality public services and redistribute income.
The analysis suggests that countries with a counter-cyclical fiscal stance typically have a public spending structure that is more supportive of inclusive growth.
This paper investigates if higher public spending in education and better teacher qualifications are related to student’s performance, using data from Saber 11, a national standardized test conducted by Instituto Colombiano para la Evaluación de la Educación.
France’s health-care system offers high-quality care. Average health outcomes are good, public satisfaction with the health-care system is high, and average household out-of-pocket expenditures are low.
Redistribution is quantified as the relative reduction in market income inequality achieved by personal income taxes, employees’ social security contributions and cash transfers, based on household-level micro data.
Can reforms that shift the balance among different taxes in the revenue mix lastingly influence the overall prosperity of an economy and the distribution of income across households?
The personal tax system has a large influence on incentives to work, save and invest and hence growth. At the same time it is a key policy lever for income redistribution.
The paper describes the fiscal framework used in long-term economic scenarios, with some emphasis on revisions made since the 2013 vintage of the long-term model.