Routine-biased technological change has emerged as a leading explanation for the differential wage growth of routine occupations, such as manufacturers or office clerks, relative to less routine occupations. Less clear, however, is how the effects of technological advancement on occupational...

The negative interest rate policy (NIRP) has been in place in the euro area since June 2014. While the NIRP can provide additional monetary accommodation in the situation where the neutral rate of interest is most likely negative, there are also unintended consequences for banks’ profitability...

This paper contributes to the empirical literature investigating reasons for the fall in real interest rates in advanced economies. It focuses on selected drivers from three broad categories: demographic changes; imbalances between supply of and demand for safe assets; and monetary policy at...

We examine the relationship between lax monetary policy, access to high-yield bond markets and productivity in the US between 2008 and 2016. Using monetary policy surprises, obtained from changes in interest rates futures in narrow windows around FOMC announcements, we isolate the increased...

Using a panel of OECD countries, this study assesses the linkages between structural policies and macroeconomic stability. Business cycle and time-series characteristics of GDP and its components are employed to define various measures for economic instability and for the persistence of adverse...

The OECD actively supports countries with the implementation of the OECD Jobs Strategy through the preparation of labour market chapters in the OECD Economic Surveys. This paper provides an overview of the analytical work carried out in the context of the 2019 Economic Survey for France. The...