Latest Documents


  • 6-July-2009

    English

    Current account sustainability in Brazil: A non linear approach

    To shed further light on this issue in the context of emerging market economies, this paper uses Brazilian data to estimate the determinants of the current account in a smooth transition vector autoregressive (ST VAR) setting.

  • 7-April-2009

    English

    Economic Survey of Finland 2010: Paving the way for sustainable public finances

    The costs of the recession and ageing are a challenge to fiscal sustainability. The estimated fiscal sustainability gap has increased from 3 to 8% of GDP due to a sizeable permanent stimulus and lower potential output. A consolidation plan should be articulated now...

  • 3-April-2009

    English, , 245kb

    Fiscal equalisation

    Fiscal equalisation is a transfer of fiscal resources across jurisdictions to offset disparities in revenue raising capacity or public service cost. It covers on average 2.5% of GDP or 5% of total government expenditure across OECD countries.

  • 3-April-2009

    English, , 830kb

    The contribution of economic geography to GDP per capita

    Fiscal equalisation is a transfer of fiscal resources across jurisdictions to offset disparities in revenue raising capacity or public service cost. It covers on average 2.5% of GDP or 5% of total government expenditure across OECD countries.

  • 20-March-2009

    English

    Government consumption volatility and the size of nations

    The aim of this paper is to analyze the relation between the volatility of government consumption and country size. The results are robust to different time and country samples, different econometric techniques and to several sets of control variables.

  • 9-March-2009

    English

    Achieving fiscal flexibility and safeguarding sustainability - The case of Slovakia

    Euro Area entry calls for more fiscal flexibility to absorb cyclical shocks that cannot be dealt with by the common monetary policy. At the same time fiscal consolidation must not be put at risk, especially given rising ageing related costs.

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  • 3-March-2009

    English, , 124kb

    Going for Growth 2009 Chapter 1: Structural Reform at a Time of Financial Crisis

    Chapter 1 from Going for Growth 2009 reviews how the current recession affects the prospect for structural reform and then explores which of the policy priorities identified in the current volume to boost long-term growth are most likely to stimulate demand in the near term.

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  • 27-February-2009

    English

    Fiscal Convergence, Business Cycle Volatility and Growth

    This paper analyzes the effects of fiscal convergence on business cycle volatility and growth. Our empirical results are economically and statistically significant, and robust.

  • 27-February-2009

    English

    Stabilization Effects of Social Spending: Empirical Evidence from a Panel of OECD Countries

    The aim of this paper is to assess the ability of social spending to smooth output shocks and to provide stabilization. The results show that overall social spending is able to smooth about 16 percent of a shock to GDP.

  • 24-February-2009

    English

    Reforming the tax system in Korea to promote economic growth and cope with rapid population ageing

    Korea has one of the lowest tax burdens in the OECD area, reflecting its small public sector. However, rapid population ageing will put upward pressure on government spending.

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