The P-star approach has been developed by the U.S. Federal Reserve as a new indicator of inflationary pressures. This paper assesses its usefulness for 20 OECD Member countries. Regression results are presented and in-sample tracking ability and forecasting performance of the equations are...

This paper summarises and analyses results of the OECD's Model Comparisons Project. The aim of the project is to better understand differences across six global models in the cost of reducing carbon dioxide emissions. In order to facilitate comparisons, key assumptions and reduction targets have...

This paper presents work on wage/price blocks for the smaller OECD countries which has been implemented in OECD's world econometric model, INTERLINK. The paper discusses theoretical, statistical and practical aspects of the estimation of business sector wage equations and five domestic demand...

This paper surveys empirical studies of the costs of reducing carbon dioxide emissions. It updates and extends an earlier paper, which focused on baseline emission scenarios and the aggregate cost of emission reductions. It attempts to explain some of the differences in simulation results and...

National saving ratios are generally lower now than in the 1960s or 1970s. This paper first reviews developments in national and international saving and investment trends in OECD countries since the 1960s. It then examines sectoral saving trends and considers the links between them. There are...

This paper retraces the Communities external liberalisation efforts, and discusses, where relevant, the repercussions of internal liberalisation on foreign competitors. The aim of the paper is to clarify, and when feasible, to quantify the economic effects of the EU’s trade policies. To this...

This paper presents a progress report on the Economics and Statistics Department's applied general equilibrium model -- the WALRAS model. This model has been developed with the explicit objective of quantifying the economy-wide effects of agricultural policies in OECD countries. The common...

Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy’s vulnerability to shocks and their propagation. Macroeconomic shocks as severe and protracted as those since 2007 warrant a reconsideration of the role growth-promoting policies...