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News & Events
News
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11-Jun-2008
Canada is a top OECD performer and has done remarkably well in boosting female employment, reducing unemployment, avoiding Dutch disease, and cutting the debt and tax burdens. Recent macroeconomic performance has been strong, and Canada is weathering the global financial crisis and slowdown as well as can be expected.
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11-Jun-2008
Although agriculture’s share of GDP is near the OECD average, it is much larger than in other G7 economies. The sector is under the dual responsibility of the federal and provincial governments.
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11-Jun-2008
How to make the recent growth performance more sustainable? How to achieve a better macro-economic policy mix? How to raise work incentives and economic efficiency? How best to stimulate the supply of affordable housing in major cities? How to improve transport infrastructure rapidly?
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22-May-2008
The Korean government has introduced five policy packages since August 2005 to stabilise house prices, mainly due to concerns about possible spill-overs from the capital region to other parts of the country, even though the increase on a nation-wide basis has been modest compared to other OECD countries.
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24-Apr-2008
Growth has picked up significantly in recent years, largely driven by expansion of manufactured exports. Nevertheless, structural reforms are required to put public households on a sustainable path in order to cope with population ageing and to avoid labour market bottlenecks limiting growth.
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16-Apr-2008
After many years of sustained growth, the housing market has slowed: house prices are falling and there has been a sharp reduction in the number of new homes being built. The exceptional rise in property values in recent years was largely driven by higher income and demographics, but did appear to overshoot the sustainable level. House prices may ease further and could even fall below their long-run value. Residential investment is experiencing a sharp slowdown. This will have some effect on wider economic activity.
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16-Apr-2008
Lending has been strong, with debt ratios reaching very high levels. The Central Bank and Financial Services Authority of Ireland (CBFSAI) had clearly identified the major vulnerabilities and taken action to mitigate them. The Irish banks are well-capitalised and profitable, which provides a cushion to weather the more difficult times ahead. This chapter reviews financial market developments, the actions by the CBFSAI and the new policy issues that have come to the fore with the financial market turmoil.
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16-Apr-2008
Softening economic growth and the slowdown in the housing market mark a turning point for fiscal policy. Strong revenue growth in earlier years financed a sustained expansion of government spending and some cuts in tax rates, while still allowing the government to run a substantial fiscal surplus. This left the public finances in a healthy state with net government debt declining to a very low level. But this benign picture is changing as growth slows and tax receipts increase more slowly. Public spending growth needs to slow.
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