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Given the slack remaining in economic activity and labour utilisation, together with still-anchored inflation expectations, aggregate demand policies have a role to play in supporting the economic recovery and stimulate jobs.
Meeting of National Economic Research Organisations, OECD Headquarters, 20 June 2011
Nearly two years after production began to recover from the worst recession to have hit OECD countries since the 1930s, the labour market situation remains a major preoccupation.
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Aggregate demand policies have a role to play in supporting the economic recovery and stimulate jobs. Enhancing vocational training is desirable, even if beefing-up such programmes may be difficult in countries facing large budget deficits or with limited training infrastructure.
Going for Growth 2011 takes stock of recent progress in implementing policy reforms to improve labour productivity and utilisation that were identified as priorities in the 2010 edition.
Australia faces the mutually reinforced challenges of boosting labour supply and promoting social inclusion. Labour underutilisation is especially prevalent among groups such as lone parents, people with disability, and Indigenous Australians.
After steady employment growth since the 1990s, Spain has experienced the sharpest increase in unemployment among OECD countries during the crisis, amplified by structural problems of the labour market.
After the onset of the crisis, unemployment in Sweden increased markedly, though much less than expected and than during the early 1990s, even as participation in the labour market held up well.
Public spending per pupil on pre-primary education is low in international comparison whereas spending on tertiary academic education per graduate is among the highest in the OECD.
This paper tests the hypothesis that, by giving people more voice in the government decision-making process, fiscal decentralisation fosters social capital, measured in terms of interpersonal trust.