The paper describes revisions to the trend labour efficiency component of the production function underpinning long-term economic scenarios.

The slowdown in productivity growth - already underway before the crisis – combined with sluggish investment, continued to undermine rises in economic output and material living standards in recent years in many of the world’s economies, according to a new report released today by the OECD.

Integrating measures to tackle climate change into regular economic policy will have a positive impact on economic growth over the medium and long term, according to a new OECD report prepared in the context of the German Presidency of the G20.

Almost 10 years after the outset of the financial crisis in summer 2008, European growth remains modest, constantly underperforming the OECD average.

Spain has chronically low productivity growth, which undermines its ability to generate higher living standards.

Boosting investment is key to supporting the nascent recovery and reviving stagnant productivity.

The recent pick-up in global growth is good news, but a durable return to healthy growth supported by productivity and trade will require stronger political commitment to implement policy packages to make growth more inclusive.

Innovation is key to boosting Australia’s productivity and inclusiveness.

R&D activity can play a central role in raising productivity.

Composite leading indicators continue to point to stable growth momentum in the OECD area

The New Zealand economy continues enjoying a strong, broad-based expansion, driven by booming tourism, high net inward migration, solid construction activity and supportive monetary policy.

The Slovak Republic continues exhibiting robust economic performance, with strong growth backed by a sound financial sector, low public debt and high international competitiveness drawing on large inward investment.

Sweden ranks among the best OECD countries in terms of gender equality.

Productivity growth will be the main driver of global economic growth and prosperity over the coming decades. For New Zealand, this represents both a challenge and an opportunity, as NZ productivity is below that of leading OECD countries.

New Zealand enjoyed strong economic growth during 2016, driven by high net inward migration, solid construction activity, booming tourism and supportive monetary policy, although in per capita terms growth has been more in line with that in other advanced economies.

This paper contributes to the empirical literature investigating reasons for the fall in real interest rates in advanced economies.

The various deficiencies of the labour market and the educational system have resulted in high unemployment, low labour force participation, low skills levels and high skill mismatch.

Composite leading indicators continue to point to stable pace of expansion in the OECD area

Despite improvements over the past few decades, Slovak health outcomes remains poor compared with most other OECD countries, even after controlling for differences in per capita income and other social, cultural and lifestyle factors.

Icelandic labour market is flexible with high labour market participation, low unemployment, and labour supply dynamically responds to the economic cycle.

After several years of subdued growth, economic output accelerated in 2016 supported by a tax reform that entered into force in 2015-16, and more recently a pick-up in international trade.

Digitalisation will redesign production processes and alter relationships between work and leisure, capital and labour, the rich and the poor, the skilled and the unskilled. It creates opportunities to boost inclusive growth and well-being by raising productivity, enhancing private and public services, and democratising information.

Stable growth momentum in the OECD area

Despite significant progress made, improving skills remains one of Portugal’s key challenges for raising growth, living standards and well-being.

Composite leading indicators continue to point to stable growth momentum in the OECD area

With persisting slower growth worldwide and in China, over-capacity in some heavy industry sectors, declining profitability, and intensifying competition from other, lower-cost emerging economies, corporate behaviour in China needs to change and focus more on efficiency and sustainability.

Living standards in China have greatly improved over the past few decades. Both sustained economic growth and an expansion of the social security system have contributed to a sharp reduction in the number of people in poverty.

The French economy is expanding, the labour market is recovering – albeit gradually - while productivity and the standard of living remain generally high, according to a new OECD report.

Modernisation has mainly been achieved by training young Slovenians to fill new occupations. In contrast, those with obsolete skills tend to retire or become unemployed rather than retrain, leaving Slovenia with persistent long-term unemployment, and amongst the lowest employment rates of older workers in the OECD.

Estonia: Policy action is needed for stronger and more inclusive growth

Financial globalisation has given international capital flows a central role in the functioning of the global economy and has therefore led to considerable economic research over the past 30 years.

Economic growth is strengthening in France, supported by consumption and investment, and the labour market is gradually recovering, as past reductions of comparatively high labour and business taxes are starting to take effect. However, GDP and employment growth are still lagging relative to the euro-area average.

Estonian growth is picking up again strongly in 2017 and the level of activity has finally surpassed its pre-crisis level, almost 10 years after the outset of the financial crisis. However, poverty remains among the highest in the OECD.

While India’s per capita income is converging towards that of the richer countries, inequality has drifted up.

Never in the past 30 years has productivity growth been lower than since the 2008 global financial crisis, and never has income inequality been higher than it is today in Japan, and in the OECD area

Changing labour market demand and moving up the global value chain requires high-skilled workers.

With gross government debt of 219% of GDP in 2016, Japan’s fiscal situation is in uncharted territory and puts the economy at risk.

Unemployment is still above 8% in Latvia and contributes to poverty, in part because many unemployed have been without a job for an extended period of time.

celand has been experiencing a tourism boom. The number of tourists visiting annually quadrupled between 2010 and 2016 and shows continued strength. The tourism sector is now the major export earner and is also creating new jobs and supporting new businesses.

OECD CLIs point to stable growth momentum in the OECD area

Luxembourg’s workforce is highly skilled, reflecting the concentration in the country of sophisticated firms in the financial sector and other top-end international services.

Luxembourg’s large foreign-born population is a pillar of the country’s prosperity: they have brought skills and knowledge to many sectors of the economy.

New Zealand ranks highly on most indicators of well-being, but incomes are below the OECD average due to low labour productivity.

Technological change is increasing the productivity of highly skilled workers but creating more challenging labour-market conditions for their low-skilled counterparts.

While overall poverty is relatively low in France, it can be highly concentrated at the neighbourhood level.

The U.K. economy has weakened in the aftermath of the decision to leave the European Union. Maintaining close ties with the EU and implementing policies to boost productivity will be crucial for maintaining future living standards, according to a new report from the OECD.

Over the past decade, sound macroeconomic policies and an improved business environment have helped generate relatively strong GDP growth.

Slovenia has continued to shift from traditional manufacturing to business services and high-tech production. However, not all Slovenians have been included in this progress.

While the Slovenian economy has been successful in bounding forward, it has taken hard falls in the past, and a lack of resilience means it has taken a long time to recover.

The peace agreement will boost economic growth, but to share it fairly Colombia must also achieve better educational outcomes and bring more people into the more productive formal economy.