A problem associated with inflation differentials in monetary unions is that the “crowding-in” effect of lower real interest rates associated with high inflation will initially outweigh the loss of competitiveness (crowding out). The crowding-in effect may produce volatility in house prices,...

This paper provides estimates of the implicit fiscal assets as well as of the evolution over time of fiscal costs and revenues related to tax-favoured retirement saving regimes in 17 OECD countries, taking into account current and future contributions, asset accumulation and withdrawals, all of...

Problems of unemployment and low pay amongst the low-skilled and those with little work experience are severe in many OECD countries. Employment-conditional schemes are policy instruments designed to increase the employment prospects of the low-skilled as well as to support their living...

This paper takes a fresh look at the nature of financial and real business cycles in OECD countries using annual data series and shorter quarterly and monthly economic indicators. It first analyses the main characteristics of the cycle, including the length, amplitude, asymmetry and changes of...

This paper provides an overview on Lithuania’s environment and environmental policy. Environmental performance has improved since the mid-2000s. Greenhouse gas emissions declined and decoupled from growth over the past decade, yet per capita emissions increased. Transport and energy are the...

Clean air, clean water, fewer toxic emissions and less household waste are among the key environmental policy objectives that most OECD governments have been pursuing over the past three decades. This effort to take more account of the environmental costs of economic growth has been pursued in a...

Korea’s greenhouse gas emissions almost doubled between 1990 and 2005, the highest growth rate in the OECD area. Korea recently set a target of reducing emissions by 30% by 2020 relative to a “business as usual” baseline, implying a 4% cut from the 2005 level. Achieving this objective in a...

This paper analyses Sweden’s policies for addressing a range of key environmental challenges. Although Sweden has a deliberately comprehensive approach to establishing its environmental objectives and policies, some issues have received particular attention. These include acidification and...

This paper analyses aspects of US environmental policy, including, among others, policy on air and water quality, water supply in certain areas, climate change and greenhouse gas emissions. Particular attention is paid to certain policies in agriculture and road transport, sectors with an...