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Major budgeting reforms have been initiated in a number of OECD countries in recent years. These reforms focus on giving spending agencies greater flexibility in using resources, in exchange for holding them responsible for achieving results. This publication examines how five Member countries...
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This paper explores liquidity movements in stock and Treasury bond markets over a period of more than 1800 trading days …. Cross-market dynamics in liquidity are documented by estimating a vector autoregressive model for liquidity (that is, bid … in one market affects the spreads in both markets, and that return volatility is an important driver of liquidity …
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Less than two years after the start of the COVID-19 pandemic, Russia’s illegal, unprovoked and unjustifiable war of aggression against Ukraine has triggered the biggest military confrontation in Europe since World War II. Many OECD countries have reacted to Russia’s aggression by providing...
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