This paper is concerned with how stylised differences in monetary policy transmission mechanisms and product and labour market rigidities between the US and euro-area economies affect their resilience to temporary shocks. To address this issue, a small general equilibrium model with long-run...

This working paper describes a medium-term reference scenario for the OECD based on the shortterm projections described in OECD Economic Outlook No.74. OECD-wide real GDP is projected to expand at 2¾ per cent per annum between 2006 and 2009 and the area-wide rate of unemployment to fall below 6...

This paper is concerned with how stylised differences in monetary policy transmission mechanisms and product and labour market rigidities between the US and euro-area economies affect their resilience to temporary shocks. To address this issue, a small general equilibrium model with long-run...

This working paper describes a medium-term reference scenario for the OECD based on the shortterm projections described in <I>OECD Economic Outlook No.74</I>. OECD-wide real GDP is projected to expand at 2¾ per cent <I>per annum</I> between 2006 and 2009 and the area-wide rate of unemployment to fall below 6...</i></i>