Saving has attracted increasing attention in recent years. Research has focused on questions about its adequacy, determinants and measurement. This paper considers the latter issue. The main trends in world-wide and OECD-area saving over the last two to three decades are reviewed. Subsequently,...

The paper reviews some key characteristics of the recoveries experienced by the seven major OECD countries in the 1970s and 1980s. It presents data on the cyclical evolution of demand components, fiscal and monetary variables, labour market and inflation around cyclical troughs. A final section...

This paper is one of four in this Working Paper Series, focusing on financial liberalisation, along with those of Kupiec, Driscoll and Blundell-Wignall and Browne. It surveys recent work, both theoretical and empirical, on the question of market efficiency in various asset markets. A number of...

The OECD Secretariat has developed a multi-region, multi-sector, dynamic applied general equilibrium (AGE) model to quantify the economy-wide and global costs of policies to curb emissions of carbon dioxide (CO2). The project is called the GeneRal Equilibrium ENvironments model, hereafter...

The P-star approach has been developed by the U.S. Federal Reserve as a new indicator of inflationary pressures. This paper assesses its usefulness for 20 OECD Member countries. Regression results are presented and in-sample tracking ability and forecasting performance of the equations are...

This paper is one of four in this Working Paper series, focusing on financial liberalisation, along with those by Miller and Weller, Driscoll, and Blundell-Wignall and Browne. It examines the historical volatilities of stock, bond and foreign currency markets over alternative periods differing...

During the 1980s, following the Mexican payments crisis of August 1982, a number of debt "plans" and "strategies" have been introduced, but overall progress in resolving the situation has been slow. This paper results from a project to investigate the relationship between macroeconomic...