There is a case, but there are also counter-arguments. With sufficient forward-looking behaviour among firms and households, price-level targeting can act as a powerful built-in stabiliser through automatic shifts in inflation expectations. This stabilisation mechanism reduces the need for large...

Growth in emerging market economies (EMEs) is set to durably slow from the rates observed over 2010-12 as cyclical effects fade, potential growth declines and external financing conditions tighten. Large negative current account balances make some EMEs vulnerable to sudden reversals in capital...

Development planners and project managers have used a wide variety of tools to manage a broad range of environmental risks, including those posed by climate variability, for a long time. Some of these tools have also now been modified to take into account the risks posed by climate change. At...

Most OECD countries expect growing shortages of highly-skilled labour in the coming two decades, and immigration is viewed as one way of addressing these. Most OECD countries have introduced policies aimed at facilitating the recruitment of such workers in recent years and efforts along these...

The strength of product market competition plays an important role in economic growth as it affects economic efficiency and the allocation of resources, and can also lead to improved labour market performance. This paper examines product market competition and economic performance in the...

immigration for natives' labour market outcomes, as well as issues linked to immigrants' integration in the host country labour market. Changes in the share of immigrants in the labour force may have a distributive impact on natives' wages, and a temporary impact on unemployment. However, labour...

High expectations surrounded the two waves of eastward EU enlargement in 2004 and 2007, with the extension of the EU Internal Market being expected to deliver a substantial boost to economic growth in new and old member States alike. Indeed, considerable progress has been made, with existing...

This working paper assesses the ease of immigrants' integration in OECD labour markets by estimating how an immigration background influences the probability of being active or employed and the expected hourly earnings, for given individual characteristics. Applying the same methodology to...

Support for regional economic integration in Africa runs high amongst the continent’s international development partners and African elites. However, its expression in European forms of economic integration is not appropriate to regional capacities and in some cases may do more harm than good....