This paper examines the effect of economic crises on structural unemployment using an Autoregressive Distributed Lags model and accounting for the role of institutional settings. Analysing an unbalanced panel of 30 OECD economies from 1970 to 2008,...

This paper examines how the the distributive impact of macroeconomic shocks is shaped by selected institutions. It uses a dynamic stochastic general equilibrium (DSGE) framework with heterogeneous agents and an endogenous collateral constraint. The...

The paper set out four types of market structure clusters (based on an OECD benchmark) to assess different entry barriers, both endogenous and policy-induced that may affect the ability of enterprises in emerging countries to penetrate international...

This paper identifies the labour market impact of the Great Recession on immigrants compared to natives and how this relationship has evolved since the downturn. We find that the employment penalty suffered by immigrant workers, relative to native...

Congestion has become a burden for the Dutch economy. Commuters and businesses are suffering from the time lost in traffic and the unreliability of travel time. Expanding infrastructure can potentially solve such problems, albeit only in the long...

The Indonesian labour market is characterised by widespread informality. To some extent, these outcomes can be attributed to a sharp increase in the real value of the minimum wage since 2001, when minimum-wage setting was decentralised to the...

Urbanisation in China has long been held back by various restrictions on land and internal migration but has taken off since the 1990s, as these impediments started to be gradually relaxed. People have moved in large numbers to richer cities, where...

Rising household debt has become a major policy concern in Korea. By the end of 2012, it had risen to 164% of disposable income, well above the OECD average of 133%. In addition to the economic impact and the risk to the financial sector, it raises...

This paper seeks to identify factors explaining the appreciation of the Brazilian real observed since 2003, which was temporarily interrupted only during episodes of financial turbulence. Net foreign assets and the productivity differential relative...

This document analyses certain economic aspects of environmental policy in France, focussing on greenhouse gas emissions, water pollution and discharges in city air. Like most other OECD countries, France has been endeavouring for some years to make...

Despite sustained efforts made in recent years to rein in budget deficits, a majority of OECD countries still face substantial fiscal consolidation needs. The choices made about which spending areas to curtail and which taxes to hike will have...

Israelis enjoy higher life expectancy and have a much younger demographic profile than most OECD countries. However, the demand for health care is expanding rapidly due to population growth and ageing. Also, the country’s wide socio-economic divides...

Ensuring tax and transfer systems bring sufficient revenue to reach macroeconomic fiscal targets, address societal goals in re-distribution and social welfare, recognise the influence taxation has on businesses’ competitiveness and adequately address...

Enhancing growth through more innovation has become a priority for Austrian policy makers in line with European policies as laid down in the Lisbon Agenda. This paper discusses Austria’s innovation performance, its innovation policies, and general...

Les pénuries de compétences ont progressé dans certains secteurs et régions au cours des dernières années. L’avantage salarial s’accroît dans certaines professions, notamment la santé, l’ingénierie et les métiers spécialisés. Et les taux de postes...

Despite a high level of homeownership, the housing market in Poland is suffering from an important shortage. The difference between the number households and available dwellings, the number of dwellings per thousand inhabitants, and the availability...

We analyse the effect of Slovakia’s euro adoption in 2009 on the country’s economic performance by using the synthetic control method. This method compares Slovakia’s economic performance with that of a weighted combination of comparable Central...

In many OECD countries debt has soared to levels threatening fiscal sustainability, necessitating its reduction over the medium to longer term. This paper uses stylised simulations in a small, calibrated macroeconomic model which features endogenous...

The strong and sustained rise in oil prices observed in recent years poses a challenge to monetary policy and its ability to simultaneously achieve low inflation and stable output. Against this background, the paper studies monetary policy in a small...

Chile has made impressive progress in educational attainment. Yet, despite recent improvements, outcomes, as measured by PISA results, still need to catch up with OECD standards and equity problems should be addressed. One decisive ingredient will be...