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Would a growth slowdown in emerging markets spill over to high-income countries? A quantitative assessment

Growth in emerging market economies (EMEs) is set to durably slow from the rates observed over 2010-12 as cyclical effects fade, potential growth declines and external financing conditions tighten.




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New evidence on the determinants of industrial specialisation

Industrial specialization has important implications for economic performance; therefore, understanding its determinants is of key policy relevance.




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Netherlands: Make economic, innovation and territorial reforms work together to boost growth and competitiveness, says OECD

The Netherlands is gradually emerging from a double-dip recession with strengthened public finances and reforms on track to improve the labour and housing markets and the health care and pension systems. These reforms are paying off, says the OECD. Growth is expected to reach 1% this year and 1.3% in 2015.




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Growth and inequality: A close relationship?

Inequality has risen in the OECD area. Could policies aimed solely at growth be responsible? Can inequality undermine economic growth? New evidence suggests there is a possibility.




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Global economy strengthening but significant risks remain, says OECD in latest Economic Outlook

The global economy will strengthen over the coming two years, but urgent action is still required to further reduce unemployment and address other legacies from the crisis, according to the OECD’s latest Economic Outlook.




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Germany should enact economic and social reforms to make its growth path more inclusive and sustainable, OECD says

Germany’s current economic success offers a good platform for achieving sustainable and inclusive growth, but further reforms will be necessary over the medium and long term, according to the latest OECD Economic Survey of Germany.




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Economic policies and microeconomic stability: a literature review and some empirics

This study reviews the existing literature on the link between economic policies and economic stability at the firm and household level. Based on firm-level and household-level data for a wide range of OECD countries, it also provides preliminary results on sources and patterns of microeconomic volatility.




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Trade specialisation and policies to foster competition and innovation in Denmark

Danish productivity has grown only weakly over the past two decades, both historically and in relation to other countries, despite sound policies and institutions. Denmark needs to continue its efforts to reap the benefits of globalisation, which would contribute to invigorating productivity growth.




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Tackling labour mismatches and promoting mobility in Hungary

Significant labour market mismatches and insufficient mobility penalise employment and productivity. Mismatches have above all a skills dimension, with an excess of low-skilled workers and a possible lack of skilled workers in certain domains.




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Korea: Implement reforms to develop a creative economy, OECD says

Korea needs to move away from its current economic model and implement a range of reforms to develop a creative economy that can sustain long-term growth, according to the latest OECD Economic Survey of Korea. The strategy should be accompanied by new measures to reduce income inequality and poverty, particularly among the elderly, the OECD said.




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Do resources flow to patenting firms? Cross-country evidence from firm level data

This paper exploits longitudinal data on firm performance and patenting activity for 23 OECD countries over the period 2003-2010 to explore the extent to which changes in the patent stock are associated with flows of capital and labour to patenting firms.




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What explains the volume and composition of trade? Industrial evidence from a panel of countries

This paper quantifies the importance of different determinants of trade at the industry level using a sample of 54 OECD and non-OECD economies. The empirical methodology extends the approach of previous empirical studies to explicitly quantify the impact that trading partners’ factor endowments and policies have on bilateral trade, and to analyse the effect of tariffs on the volume and composition of trade.




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Consequences of climate change damages for economic growth – a dynamic quantitative assessment

This report focuses on the effects of climate change impacts on economic growth. The analysis finds that the effect of climate change impacts on annual global GDP is projected to increase over time, leading to a global GDP loss of 0.7% to 2.5% by 2060 for the most likely equilibrium climate sensitivity range.




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Consequences of climate change damages for economic growth – a dynamic quantitative assessment

This report focuses on the effects of climate change impacts on economic growth. The analysis finds that the effect of climate change impacts on annual global GDP is projected to increase over time, leading to a global GDP loss of 0.7% to 2.5% by 2060 for the most likely equilibrium climate sensitivity range.




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Türkiye: Makroekonomik istikrar ve yapısal reformlar, üretim yapısının güçlenmesi için hayati.

OECD Türkiye Ekonomik İnceleme Raporuna göre; Türkiye ekonomisi önümüzdeki yıllarda büyümeye devam edecek ancak, ekonominin dış kaynak ile fonlanan iç tüketime aşırı bağımlılığı halen devam etmekte.




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International migration: the relationship with economic and policy factors in the home and destination country

Unfavourable demographic trends in many OECD countries threaten the sustainability of potential labour resources, GDP growth and fiscal positions. One factor that is expected to mitigate these trends is continued inflows of migrant workers from low income economies.




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Workplace stress in the United States: issues and policies

Despite relative affluence, workplace stress is a prominent feature of the US labour market. To the extent that job stress causes poor health outcomes – either directly through increased blood ressure, fatigue, muscle pain, etc. or indirectly through increased rates of cigarette smoking – policy to lessen job stress may be appropriate.




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Improving well-being in the United States

Life is quite good in the United States compared to other OECD countries, thanks to strong economic growth and technological progress having lifted average income to high levels. Nonetheless, there is evidence that the benefits from growth have not been sufficiently broad based.




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Health, work and working conditions: a review of the European economic literature

Economists have traditionally been very cautious when studying the interaction between employment and health because of the two-way causal relationship between these two variables: health status influences the probability of being employed and, at the same time, working affects the health status.




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Fostering a creative economy to drive Korean growth

A creative economy requires innovation-friendly conditions. Korea’s innovation system should be improved by upgrading universities and expanding their role in business R&D, while increasing international collaboration in R&D from its current low level.




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Productivity measurement with natural capital and bad outputs

This paper presents a productivity growth measure that explicitly accounts for natural capital as an input factor and for undesirable goods, or “bads”, as an output of the production process.




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US long term interest rates and capital flows to emerging economies

This paper studies the association between US long term interest rates and cycles of capital flows to emerging market economies (EMEs). It finds that, indeed, cycles in capital flows to EMEs are linked to global conditions, including global risk aversion and long term interest rates in the United States.




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An exploration of the determinants of the subjective well-being of Americans during the Great Recession

This paper uses data from the American Life Panel to understand the determinants of well-being in the United States during the Great Recession. It investigates how various dimensions of subjective well-being reflected in the OECD Better Life Framework impact subjective well-being.




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OECD appoints Catherine L. Mann as new Chief Economist

OECD Secretary-General, Angel Gurría is pleased to announce the appointment of Ms. Catherine L. Mann as the new OECD Chief Economist. Her appointment will reinforce the OECD’s commitment to identifying and promoting better policies for better lives around the world.




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Reinvigorating the EU Single Market

The EU Single Market remains fragmented by complex and heterogeneous rules at the EU and national levels affecting trade, capital, including foreign direct investment, and labour mobility.




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Global growth continuing at a moderate pace, OECD says

A moderate expansion is underway in most major advanced and emerging economies, but growth remains weak in the euro area, which runs the risk of prolonged stagnation if further steps are not taken to boost demand, according to the OECD’s latest Interim Economic Assessment.




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Reducing the high rate of poverty among the elderly in Korea

One-half of Korea's population aged 65 and over lives in relative poverty, nearly four times higher than the OECD average of 13%. Elderly poverty is thus an urgent social problem.




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OECD and National Bureau of Economic Research Conference on Productivity Growth and Innovation in the Long Run. 25-26 September, Paris.

Increasing productivity is critical to achieving strong, sustainable and inclusive growth and well-being. Technological change and innovation are the key drivers of increased productivity, along with better skills and organisational change.




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Joint OECD-NBER Conference on Productivity Growth and Innovation in the Long Run

Despite large and growing investments in knowledge and innovation, productivity growth in many countries has slowed in recent years. At the same time, the urgent need for more rapid innovation (including its uptake and diffusion) in several key areas, such as in environment. This joint OECD-NBER workshop on 25-26 September 2014 will bring together academic experts to consider these challenges.




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Determinants of households’ investment in energy efficiency and renewables – evidence from the OECD Survey on Household Environmental Behaviour and Attitudes

Many studies on household energy efficiency investments suggest that a wide range of seemingly profitable investments are not taken up. This paper provides novel evidence on the main factors behind consumer choices using the OECD Survey on Household Environmental Behaviour and Attitudes.




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OECD bolsters relationship with Ukraine

The 34-member countries of the Organisation for Economic Co-operation and Development welcomed a Memorandum of Understanding between the OECD and Ukraine which will help Ukraine’s efforts to tackle corruption, strengthen its tax system and promote competitiveness.




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Secular stagnation: evidence and implications for economic policy

This paper investigates whether OECD countries are facing secular stagnation. Secular stagnation is defined as a situation when policy interest rates bounded at zero fail to stimulate demand sufficiently, due to low or negative neutral real interest rates and low inflation, and when ensuing prolonged and subdued growth undermines potential growth via labour hysteresis and discouraged investment.




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Mr. François Hollande, President of the French Republic, met with the Heads of international economic organisations at the OECD

The President of the French Republic, Mr. François Hollande, met the Heads of five international economic organisations at the OECD on Friday 17th October to discuss the challenges facing the global economy.




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Understanding National Accounts – latest edition now out

The OECD has updated its key textbook explaining how economic activity is monitored and measured.




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A revival of the private rental sector of the housing market? Lessons from Germany, Finland, the Czech Republic and the Netherlands

This Working Paper studies ways to stimulate the private rental sector (PRS) of the housing market – and compares experiences with policies and reforms in Germany, the Netherlands, Finland and the Czech Republic.




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Economic activity is accelerating in the Slovak Republic, OECD says

Economic recovery is picking up in the Slovak Republic, but regional disparities and high unemployment must be addressed to ensure balanced inclusive growth over the long-term, according to the latest OECD Economic Survey of the Slovak Republic.




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Comprehensive action needed to shift the global economy into higher gear, says OECD in latest Economic Outlook

The global economy remains stuck in low gear, but is expected to accelerate gradually if countries implement growth-supportive policies. Widening differences across countries and regions are adding to the major risks on the horizon, according to the advanced G20 release of the OECD’s latest Economic Outlook.




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Europe’s deflation risk

The OECD does not see deflation taking hold in the euro area, but the risk has risen.




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The global economy: strengthening growth and job creation - Statement at G20 Leader's Summit

Statement made by the Secretary-General during session 1 of the Leader's Summit in Brisbane.




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The internet economy – regulatory challenges and practices

Designing policies that protect society while allowing for Internet’s great economic potential to be fulfilled, is a difficult task. This paper investigates this challenge and takes stock of existing regulations in OECD and selected non-OECD countries in specific areas related to the digital economy.




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Reforms poised to put India on a strong, sustainable and inclusive growth path, OECD says

The Indian economy is showing signs of a turnaround, but new reforms are needed to put the country on a path to strong, sustainable and inclusive growth, according to the latest OECD Economic Survey of India.




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Angel Gurría congratulates new Indonesian President for cutting fuel subsidies

Angel Gurría, Secretary-General of the OECD congratulated the newly elected President of Indonesia, Joko Widodo, for taking a bold first step in his economic reform agenda by substantially cutting fuel subsidies.




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Stronger policy response needed to avoid risks to growth, especially in the euro area, says OECD in latest Economic Outlook

Modest global economic forecasts, continuing high unemployment, and downshifts in potential output,should spur governments with a greater sense of urgency to fully employ monetary, fiscal and structural policy levers to support growth, notably in Europe, according to the OECD’s latest Economic Outlook.




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OECD’s Gurría commends Greece’s reforms at meeting with Minister Skrekas

Meeting Greece’s Minister of Development and Competitiveness Mr. Kostas Skrekas today, OECD Secretary General Angel Gurría said the Greek government’s reform programme was already showing positive results.




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Trade patterns in the 2060 world economy

The analysis suggests that over the next 50 years, the geographical centre of trade will continue to shift from OECD to non-OECD regions reflecting faster growth in non-OECD countries.




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Can pro-growth policies lift all boats? An analysis based on household disposable income

In a majority of OECD countries, GDP growth over the past three decades has been associated with growing income disparities. To shed some lights on the potential sources of trade-offs between growth and equity, this paper investigates the long-run impact of structural reforms on GDP per capita and household income distribution.




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Norway has some good measures to combat money laundering and terrorist financing, but significant weaknesses undermine overall effectiveness, says FATF

Norway has taken some good initiatives to combat money laundering and terrorist financing, but needs to establish overarching policies and strategies, and address significant weaknesses in a number of key areas, according to a new report by the Financial Action Task Force.




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Implicit regulatory barriers in the EU Single Market: new empirical evidence from gravity models

Beyond usual determinants of trade such as GDP, distance, contiguity, free trade areas and language, this analysis mainly focuses on the role of product market regulation stringency and heterogeneity, and on the role of employment protection.




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The heterogeneity of product market regulations

This paper is making use of the OECD product market regulation (PMR) database to measure the heterogeneity of product market regulation across countries for the whole economy, for the main subcomponents of the PMR indicator and for the internet economy.




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Building on rural sector is key for economic modernisation in Myanmar, says OECD

Improving Myanmar's agricultural sector by building up food processing activities and related services could help the transformation of the country's economy, to a more modern one able to produce higher-value goods for export, according to a new OECD report.