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Two objectives of budgetary policy are an efficient allocation of resources subject to a fair distribution of income and a stable macroeconomic environment. The OECD pursues empirical analysis to underpin budgetary policy recommendations in both these areas.
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17-Apr-2008
While Chile’s tax system is not particularly burdensome to business formality, there is scope for making product-market regulations less onerous to firms and the labour code more flexible, especially with regards to indefinite contracts and the allocation of working time. Low human capital remains an important obstacle to reducing labour informality. To the extent that informal businesses also hire informally, there is some room for designing policies to tackle business informality in conjunction with those aimed at boosting formal labour contracting.
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16-Apr-2008
The Chilean authorities plan to raise budgetary allocations over the medium term for a variety of social programmes, including education, health care and housing. This incremental spending will need to be carried out in a cost efficient manner to make sure that it yields commensurate improvements in social outcomes. Chile’s health indicators show that it fares relatively well in relation to comparator countries in the OECD area and in Latin America.
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16-Apr-2008
This paper develops a differential game of tax avoidance by modelling the interactions between a taxpayer and the tax authority. This framework is particularly useful for explicitly modelling situations of conflict. The solution to the game is a non co operative Nash that depends on the resources that need to be used by the tax authority to enforce legislation and the cost to be borne by the taxpayer in tax compliance, provided that the curvature of the utility functions is bounded.
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21-Apr-2008
Compliance with the structural budget surplus rule, which has been in place since 2001, has allowed the government to maintain a counter cyclical fiscal stance in an environment of rising copper prices, while delivering a gradual reduction in public indebtedness. Monetary policy is conducted within a framework that combines inflation targeting with exchange rate flexibility. This paper relates to the 2007 Economic Survey of Chile (www.oecd.org/eco/surveys/chile).
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07-Apr-2008
Despite the longest economic expansion in its post-war history, Japan faces many challenges. Perhaps most urgent is addressing the fiscal situation through comprehensive tax reform. There is also significant scope for policies to accelerate productivity growth in the service sector, which has lagged behind manufacturing. In addition, measures to reverse the rise in labour market dualism would be beneficial for both growth and equity.
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Economic Outlook
This Economic Outlook, published 6 December 2007, presents the latest economic analysis and projections for major economies.
Issue No. 82
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