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Herd, Richard; Conway, Paul; Hill, Sam; Koen, Vincent; … - Economics Department, Organisation de Coopération et … - 2011

In recent years, India has enjoyed one of the highest growth rates worldwide, weathering the global financial crisis better than many other countries. Prudent macroeconomic policies will be critical to prolonging the current expansion, given the risks associated with high inflation and volatile...

Persistent link: https://www.econbiz.de/10009191040

Getting Back on Track: Restoring Fiscal Sustainability in Ireland

Haugh, David - Economics Department, Organisation de Coopération et … - 2011

Ireland’s banking crisis, one of the most severe in the OECD area, and the associated economic recession have taken a heavy toll on public finances. Large public deficits have accumulated since 2008 and net public debt, which had been eliminated, has soared once again. The rapid deterioration...

Persistent link: https://www.econbiz.de/10009364451

Strengthening the Macroeconomic Policy Framework in South Africa

Lysenko, Tatiana; Barnard, Geoff - Economics Department, Organisation de Coopération et … - 2011

South Africa’s macroeconomic framework has served the economy well, but should be strengthened to make the economy more resilient to external shocks. Enhancing the credibility of the inflation target would provide the monetary authorities with more space for flexibility in the face of...

Persistent link: https://www.econbiz.de/10008854030

Implications of Output Gap Uncertainty in Times of Crisis

Bouis, Romain; Cournède, Boris; Christensen, Ane Kathrine - Economics Department, Organisation de Coopération et … - 2012

This paper analyses the monetary and fiscal policy implications of output gap estimates in times of crisis. The widening of output gaps observed in major OECD economies in the wake of the recent crisis has been mainly due to total factor productivity gaps, except in the United States where it...

Persistent link: https://www.econbiz.de/10011276902

OECD Forecasts During and After the Financial Crisis: A Post Mortem

Pain, Nigel; Lewis, Christine; Dang, Thai-Thanh; Jin, Yosuke - Economics Department, Organisation de Coopération et … - 2014

This paper assesses the OECD’s projections for GDP growth and inflation during the global financial crisis and recovery, focussing on lessons that can be learned. The projections repeatedly over-estimated growth, failing to anticipate the extent of the slowdown and later the weak pace of the...

Persistent link: https://www.econbiz.de/10011277004

Iceland: Challenging Times for Monetary and Fiscal Policies

Michelis, Andrea de - Economics Department, Organisation de Coopération et … - 2009

Monetary and fiscal policies face huge challenges: the banking sector has collapsed; the economy is in the midst of a deep recession; the exchange rate has plunged; capital flows have been frozen; inflation is elevated; public debt has risen; source of revenues have disappeared; social needs have...

Persistent link: https://www.econbiz.de/10008498025

Catching-up and Inflation in Europe: Balassa-Samuelson, Engel's Law and Other Culprits

Égert, Balázs - Economics Department, Organisation de Coopération et … - 2010

periods of very fast growth. We interpret these results as a sign that price level convergence comes from goods, market and … être vérifiée durant des périodes de forte croissance économique. Ces résultats suggèrent que la convergence des niveaux de … prix provient de la convergence des niveaux de prix des biens échangeables, des biens non-échangeables marchands et non …

Persistent link: https://www.econbiz.de/10008461038

Managing Public Expenditure: The UK Approach

Noord, Paul van den - Economics Department, Organisation de Coopération et … - 2002

The UK medium-term budgetary framework introduced in 1997 addressed a number of weaknesses of the former regime, notably a bias against capital expenditure and, more generally, poor conditions for longerterm planning adversely affecting central government spending departments, local authorities...

Persistent link: https://www.econbiz.de/10005045652

Reforming Turkey's Public Expenditure Management

Gönenç, Rauf; Leibfritz, Willi; Yilmaz, Erdal - Economics Department, Organisation de Coopération et … - 2005

Fiscal imbalances were a main cause for chronic high inflation and macroeconomic instability before the 2000/2001 crisis. Fiscal consolidation is the cornerstone of post-crisis stabilization. It has been quite successful over the past three years as sizeable primary surpluses have been sustained...

Persistent link: https://www.econbiz.de/10005045722

Rationalising Public Expenditure in the Slovak Republic

Gönenç, Rauf; Walkenhorst, Peter - Economics Department, Organisation de Coopération et … - 2004

Over the past decade, public expenditure in Slovakia was characterised by substantial social transfers and high public sector wage expenses. This paper analyses the main features of Slovakia’s public expenditure system, reviews expenditure trends, and discusses recent reform initiatives. The...

Persistent link: https://www.econbiz.de/10005045749