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Economic growth is projected to be strengthening from mid-2011 onwards, but will be insufficient to restore the … increased. This will require cuts in public spending, improving efficiency of policies, containing the growth of ageing …-related costs and making the tax system more conducive to growth. While past experiences, such as in the 1990s, have shown that …
Persistent link: https://www.econbiz.de/10011276973
The European Union has weathered a number of turbulent storms in recent years from the COVID-19 pandemic to the ongoing war in Ukraine. These crises have highlighted the limitations of the EU budget and the need for the flexibility to adequately respond to challenges in real time. They have also...
Persistent link: https://www.econbiz.de/10014444235
International migrants who seek protection also participate in the economy. Thus the policy of the United States to drastically reduce refugee and asylum-seeker arrivals from 2017 to 2020 might have substantial and ongoing economic consequences. This paper places conservative bounds on those...
Persistent link: https://www.econbiz.de/10013209780
This paper addresses the design of the machinery of collective bargaining from the perspective of the needs of microeconomic and macroeconomic flexibility. In the former context, greater attention is given over to enterprise flexibility than external adjustment. In the latter context, close...
Persistent link: https://www.econbiz.de/10011408196
will face increasing challenges to remain globally competitive and maintain high living standards. Future growth will need … rate, which potentially harm economic activity. To improve the sustainability of growth, revenues from non …
Persistent link: https://www.econbiz.de/10011276855
In a majority of OECD countries, GDP growth over the past three decades has been associated with growing income … disparities. To shed some lights on the potential sources of trade-offs between growth and equity, this paper investigates the … long-run impact of structural reforms on GDP per capita and household income distribution. Pro-growth reforms can be …
Persistent link: https://www.econbiz.de/10011098129
Persistent link: https://www.econbiz.de/10003368581
Accumulating debt raises concerns about its implications for macroeconomic stability. This paper sheds light on the implications of high indebtedness for the macroeconomic volatility by identifying the main drivers of the evolution of debt in a set of countries. The country choice was based on...
Persistent link: https://www.econbiz.de/10013075183
The ongoing coronavirus pandemic crisis as well as demographic and climate change pose major challenges for public finances. This article deals with the implications of demographic trends in Switzerland, i.e. the progressive ageing of the population and its impact on the country’s public...
Persistent link: https://www.econbiz.de/10013041006
Macro-level changes can have substantial effects on the distribution of resources at the household level. While it is possible to speculate about which groups are likely to be hardesthit, detailed distributional studies are still largely backward-looking. This paper suggests a straightforward...
Persistent link: https://www.econbiz.de/10009012391