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Herd, Richard; Conway, Paul; Hill, Sam; Koen, Vincent; … - Economics Department, Organisation de Coopération et … - 2011

In recent years, India has enjoyed one of the highest growth rates worldwide, weathering the global financial crisis better than many other countries. Prudent macroeconomic policies will be critical to prolonging the current expansion, given the risks associated with high inflation and volatile...

Persistent link: https://www.econbiz.de/10009191040

Strengthening the Macroeconomic Policy Framework in South Africa

Lysenko, Tatiana; Barnard, Geoff - Economics Department, Organisation de Coopération et … - 2011

South Africa’s macroeconomic framework has served the economy well, but should be strengthened to make the economy more resilient to external shocks. Enhancing the credibility of the inflation target would provide the monetary authorities with more space for flexibility in the face of...

Persistent link: https://www.econbiz.de/10008854030

Implications of Output Gap Uncertainty in Times of Crisis

Bouis, Romain; Cournède, Boris; Christensen, Ane Kathrine - Economics Department, Organisation de Coopération et … - 2012

This paper analyses the monetary and fiscal policy implications of output gap estimates in times of crisis. The widening of output gaps observed in major OECD economies in the wake of the recent crisis has been mainly due to total factor productivity gaps, except in the United States where it...

Persistent link: https://www.econbiz.de/10011276902

OECD Forecasts During and After the Financial Crisis: A Post Mortem

Pain, Nigel; Lewis, Christine; Dang, Thai-Thanh; Jin, Yosuke - Economics Department, Organisation de Coopération et … - 2014

This paper assesses the OECD’s projections for GDP growth and inflation during the global financial crisis and recovery, focussing on lessons that can be learned. The projections repeatedly over-estimated growth, failing to anticipate the extent of the slowdown and later the weak pace of the...

Persistent link: https://www.econbiz.de/10011277004

Iceland: Challenging Times for Monetary and Fiscal Policies

Michelis, Andrea de - Economics Department, Organisation de Coopération et … - 2009

Monetary and fiscal policies face huge challenges: the banking sector has collapsed; the economy is in the midst of a deep recession; the exchange rate has plunged; capital flows have been frozen; inflation is elevated; public debt has risen; source of revenues have disappeared; social needs have...

Persistent link: https://www.econbiz.de/10008498025

Catching-up and Inflation in Europe: Balassa-Samuelson, Engel's Law and Other Culprits

Égert, Balázs - Economics Department, Organisation de Coopération et … - 2010

periods of very fast growth. We interpret these results as a sign that price level convergence comes from goods, market and … être vérifiée durant des périodes de forte croissance économique. Ces résultats suggèrent que la convergence des niveaux de … prix provient de la convergence des niveaux de prix des biens échangeables, des biens non-échangeables marchands et non …

Persistent link: https://www.econbiz.de/10008461038