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How responsive are housing markets in the OECD? : national level estimates
Cavalleri, Maria Chiara; Cournède, Boris; Özsöğüt, Ezgi - 2019
The trend rise of house prices in many OECD countries suggests weakness in the adjustment of supply to demand. This paper estimates long-term elasticities of housing supply to prices in OECD countries before exploring their drivers with a focus on policies. It finds a significant association...
Persistent link: https://www.econbiz.de/10012203174
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Empirical links between housing markets and economic resilience
Cournède, Boris; Sakha, Sahra; Ziemann, Volker - 2019
Housing markets, which are large and subject to sharp swings, shape to a great extent countries’ exposure to economic crises and their capacity to recover from them. This paper analyses the transmission of housing-related shocks to the real economy: it investigates the role that policy plays...
Persistent link: https://www.econbiz.de/10012111101
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Macroprudential policy tools in Norway : strengthening financial system resilience
Jin, Yosuke; Lenain, Patrick; O'Brien, Paul Sherlock - 2014
In Norway house prices have risen to high levels, associated with very strong credit growth, in a context of low interest rates. Such a combination was in many countries a contributory factor to the 2008- 09 crisis. The Norwegian authorities have been well aware of the problem. Below-target...
Persistent link: https://www.econbiz.de/10010375393
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Implications of output gap uncertainty in times of crisis
Bouis, Romain; Cournède, Boris; Christensen, Ane Kathrine - 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/10009690945
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OECD forecasts during and after the financial crisis : a post mortem
Pain, Nigel; Lewis, Christine; Dang, Thai Thanh; Jin, Yosuke - 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/10010374419
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Evaluating options for shifting tax burden to top income earners
Onrubia, Jorge; Picos, Fidel; Rodado, María del Carmen - 2016
During the last decade, research on income inequality has paid special attention to top income earners. At the same time, top marginal tax rates on upper income earners have declined sharply in many OECD countries. Discussions are still open on the relationship between the increase of the income...
Persistent link: https://www.econbiz.de/10011981967
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Moving towards fairer regional minimum income schemes in Spain
Hernández, Adrian; Picos, Fidel; Riscado, Sara - 2020
Minimum income schemes are set to provide citizens with a minimum living standard. In Spain, these schemes consist of a …
Persistent link: https://www.econbiz.de/10012241667
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Income support to families with children in Spain
Hernández, Adrian; Picos, Fidel - 2021
Families with children receive support from the tax-benefit system to a different extent across countries. In Spain … families with children in Spain. We distinguish between three different forms of income support: (1) benefits aimed to ease the … families with children in Spain is low and mainly concentrated on tax reliefs, which are regressive in absolute terms …
Persistent link: https://www.econbiz.de/10012593863
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Reforms for more and better quality jobs in Spain
Jin, Yosuke; Caldera Sánchez, Aida; García Perea, Pilar - 2017
The Spanish economy is growing strongly, but there is a risk that many people are being left behind. Unemployment, especially among young people and the low-skilled, remains very high. About half of all the unemployed have been unemployed for over a year and one third for more than two years. A...
Persistent link: https://www.econbiz.de/10011700356