This paper examines the role of structural indicators in the process of multilateral surveillance of structural policies. An analytical framework is suggested that is based on welfare economics and which focuses on efficiency considerations. Potential indicators are examined for six areas --...

This paper assesses the medium term impact of the United Kingdom leaving the EU Single Market under the terms of the EU-UK Trade and Cooperation Agreement (TCA) reached at the end of 2020 using the OECD METRO CGE model. The analysis does not include any transitional costs to fully implementing...

The Austrian economy has benefited substantially from the expansion of economic ties with Central and Eastern Europe, which has provided a significant boost to growth, productivity, competitiveness, profits and (more controversially) aggregate employment. Indeed, among the older EU member...

Over the past decade, globalisation has been a pervasive trend in almost all economies. The world economy is becoming increasingly interdependent, deepening and intensifying international linkages, most notably in trade. As trade expands among nations throughout the world, integration of the...

Over the past 25 years inflation has moderated considerably in all OECD economies. At the same time, the production of many goods and services has become increasingly internationalised and the level of trade between the OECD and non-OECD economies has risen markedly. This paper investigates the...

In this paper the OECD’s interlink model is used to explore several possible channels through which a narrowing of the US current account deficit could occur. The shocks considered include dollar depreciation, fiscal consolidation, and an improvement in the non-price competitiveness of US...

This paper assesses the importance of border and non-border policies for global economic integration. The focus is on four widely-advocated policies: removing explicit restrictions to trade and FDI; promoting domestic competition; improving the adaptability of labour markets; and ensuring...

Widening imbalances in current account positions across some of the major OECD economic areas have raised concerns about related increases in protectionist sentiments. This paper reviews recent trends in market openness indicators and assesses whether barriers to international trade and...

Germany intends to reach climate neutrality in 2045, tripling the speed of emission reductions that was achieved between 1990 and 2019. Soaring energy prices and the need to replace Russian energy imports have amplified the urgency to act. Various policy adjustments are needed to ensure...

This paper presents the methodology adopted by the Economics Department to calculate indices of effective exchange rates and indicators of competitiveness, based on unit labour costs and export unit values in the manufacturing sector. The calculation derives from a double-weighting system which...