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Restoring Japan's Fiscal Sustainability
Jones, Randall S.; Urasawa, Satoshi - Economics Department, Organisation de Coopération et … - 2013
With gross government debt surpassing 200% of GDP, Japan’s fiscal situation is in uncharted territory. In addition to robust nominal GDP growth, correcting two decades of budget deficits requires a large and sustained fiscal consolidation based on a detailed and credible multi-year plan that...
Persistent link: https://www.econbiz.de/10011276790
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Getting Back on Track: Restoring Fiscal Sustainability in Ireland
Haugh, David - Economics Department, Organisation de Coopération et … - 2011
banks’ liabilities, has led to Ireland losing the confidence of the sovereign bond market and requiring financial assistance … bond spreads and weak nominal GDP growth, returning to a healthy fiscal position poses a significant challenge. A sustained …
Persistent link: https://www.econbiz.de/10009364451
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Factors Behind Low Long-Term Interest Rates
Ahrend, Rudiger; Catte, Pietro; Price, Robert W.R. - Economics Department, Organisation de Coopération et … - 2006
Long-term bond yields have been low in recent years both in nominal and real terms, and . especially in the United … paper finds that it is unlikely that any individual explanation can account for the level and profile of bond yields in … rates. Even though bond yields have started to rise in the early part of 2006, they are unlikely to go back to the levels …
Persistent link: https://www.econbiz.de/10005045683
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The Effect of Government Debt, External Debt and their Interaction on OECD Interest Rates
Turner, David; Spinelli, Francesca - Economics Department, Organisation de Coopération et … - 2013
In the wake of the financial crisis there has been renewed focus on the importance of a country’s net external debt position in determining domestic interest rates and, relatedly, its vulnerability to a crisis. This paper extends the panel estimation of OECD countries described in Turner and...
Persistent link: https://www.econbiz.de/10011276942
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The Significance of Switzerland's Enormous Current-Account Surplus
Jarrett, Peter; Letremy, Céline - Economics Department, Organisation de Coopération et … - 2008
Switzerland has had a long-standing surplus on its current account. But over the past 15 years that surplus has surged to levels unmatched by nearly any other OECD country at any point. This paper looks at the surplus from a balance of payments vantage point as well as from the optic of the...
Persistent link: https://www.econbiz.de/10005045585
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International Capital Mobility and Financial Fragility - Part 3. How Do Structural Policies Affect Financial Crisis Risk?: Evidence from Past Crises Across OECD and Emerging Econom...
Ahrend, Rudiger; Goujard, Antoine - Economics Department, Organisation de Coopération et … - 2012
This paper examines how structural policies can influence a country's risk of suffering financial turmoil. Using a panel of 184 developed and emerging economies from 1970 to 2009, the empirical analysis examines which structural policies can affect financial stability by either shaping the...
Persistent link: https://www.econbiz.de/10011276796
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International Capital Mobility and Financial Fragility - Part 7. Enhancing Financial Stability: Country-Specific Evidence on Financial Account and Structural Policy Positions
Ahrend, Rudiger; Valdivia, Carla - Economics Department, Organisation de Coopération et … - 2012
This paper brings together the results from new empirical analysis on how – under international capital mobility – financial account structure and structural policies can contribute to financial stability. More specifically, the analysis has identified features of financial accounts and...
Persistent link: https://www.econbiz.de/10011276910
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International Capital Mobility and Financial Fragility - Part 1. Drivers of Systemic Banking Crises: The Role of Bank-Balance-Sheet Contagion and Financial Account Structure
Ahrend, Rudiger; Goujard, Antoine - Economics Department, Organisation de Coopération et … - 2012
This paper examines whether the composition of a country’s external liabilities and assets has an incidence on its risk of suffering financial turmoil. Particular emphasis is put on the role of international financial integration, using newly-constructed measures of contagion shocks. These new...
Persistent link: https://www.econbiz.de/10009351419
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Challenges in the Mexican Financial Sector
Bonturi, Marcos - Economics Department, Organisation de Coopération et … - 2002
The Mexican banking crisis of 1994/95 necessitated a major government rescue operation - estimated to have cost about 20 per cent of GDP. Since then, financial sector reforms have been implemented and the performance of the Mexican financial system has markedly improved, as shown by indicators...
Persistent link: https://www.econbiz.de/10005045621
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Italy and the Euro Area Crisis: Securing Fiscal Sustainability and Financial Stability
Denk, Oliver - Economics Department, Organisation de Coopération et … - 2013
prospects, but the adverse sentiment that the country has faced in the sovereign bond market over the past years has deep roots …
Persistent link: https://www.econbiz.de/10011276838