OECD Economic Outlook, Volume 2019 Issue 2
The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.
Coverage is provided for all OECD member countries as well as for selected non-member countries. This issue includes a general assessment, a series of focus notes on selected macroeconomic and structural issues, and a chapter summarising developments and providing projections for each individual country.
Focus Note 4: Global policy co-operation is needed in the event of a deeper downturn
Global economic growth has slowed substantially over the past eighteen months. If downside risks materialise, and growth weakens further than currently projected, governments will be faced with the challenge of having to respond to significant weakness at a time when domestic policy space is limited. The analysis reported in this note looks at the impact of an illustrative set of co-ordinated policies across the G20 economies, as was undertaken following the Washington and London G20 Leaders Summits in 2008 and 2009 at the height of the global financial crisis.
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