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Girouard, Nathalie; Blöndal, Sveinbjörn - Economics Department, Organisation de Coopération et … - 2001

This paper reviews the role of house prices in influencing private consumption and residential investment in OECD … borrow for current consumption on the basis of their housing wealth, and the easing of borrowing constraints has often been … for the major OECD countries suggest that house prices have a significant positive impact on private consumption through …

Persistent link: https://www.econbiz.de/10005045630

Financial Market Liberalisation, Wealth and Consumption

Boone, Laurence; Girouard, Nathalie; Wanner, Isabelle - Economics Department, Organisation de Coopération et … - 2001

have eased the liquidity constraints facing households, thus raising the targeted level of consumption. The objective of … relationship between consumption and income, and more specifically on the wealth effect. A range of different procedures is used to …

Persistent link: https://www.econbiz.de/10005045935

Housing Markets, Wealth and the Business Cycle

Catte, Pietro; Girouard, Nathalie; Price, Robert W.R.; … - Economics Department, Organisation de Coopération et … - 2004

mortgage markets. The paper focuses specifically on: the transmission channel from housing wealth to consumption and on the … that the strongest impact on consumption is in countries that have large, efficient and responsive mortgage markets …

Persistent link: https://www.econbiz.de/10005046210

The Short-Term Effects of Structural Reforms: An Empirical Analysis

Bouis, Romain; Causa, Orsetta; Demmou, Lilas; Duval, Romain - Economics Department, Organisation de Coopération et … - 2012

Drawing on new empirical analysis of 30 years of structural reforms across the OECD, this paper sheds light on the impact of reforms over time, identifies the horizon over which their full effects materialise, and investigates whether such effects vary with prevailing economic conditions and...

Persistent link: https://www.econbiz.de/10011007419

The Significance of Switzerland's Enormous Current-Account Surplus

Jarrett, Peter; Letremy, Céline - Economics Department, Organisation de Coopération et … - 2008

Switzerland has had a long-standing surplus on its current account. But over the past 15 years that surplus has surged to levels unmatched by nearly any other OECD country at any point. This paper looks at the surplus from a balance of payments vantage point as well as from the optic of the...

Persistent link: https://www.econbiz.de/10005045585

Differences in Resilience Between the Euro-Area and US Economies

Drew, Aaron; Kennedy, Mike; Sløk, Torsten - Economics Department, Organisation de Coopération et … - 2004

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...

Persistent link: https://www.econbiz.de/10005046023

Tax Treatment of Private Pension Savings in OECD Countries and the Net Tax Cost Per Unit of Contribution to Tax-Favoured Schemes

Yoo, Kwang-Yeol; Serres, Alain de - Economics Department, Organisation de Coopération et … - 2004

This paper provides, for all OECD countries, an estimate of the net tax cost per currency unit of contribution to a tax-favoured retirement savings plan, using a present-value methodology. The latter takes into account the future flows of revenues foregone on accrued income and of revenues...

Persistent link: https://www.econbiz.de/10005046077

The Decline in Private Saving Rates in the 1990s in OECD Countries: How Much Can be Explained by Non-Wealth Determinants?

Serres, Alain de; Pelgrin, Florian - Economics Department, Organisation de Coopération et … - 2002

The substantial decline in private-sector saving rates observed in several OECD countries in the late 1990s coincided in several cases with a sharp increase in household financial net worth. This was seen by many observers as evidence that the strong rise in equity and residential property...

Persistent link: https://www.econbiz.de/10005046105

The Danish Housing Market: Less Subsidy and more Flexibility

Erlandsen, Espen; Lundsgaard, Jens; Hüfner, Felix - Economics Department, Organisation de Coopération et … - 2006

While Denmark has fairly flexible labour and product markets in most respects, the housing market stands out with large direct and indirect subsidies for all types of housing and a highly regulated rental market hindering mobility, probably resulting in a mismatch between housing needs and use....

Persistent link: https://www.econbiz.de/10005046153

Social Safety Nets and Structural Adjustment

Economics Department, Organisation de Coopération et …; … - 2006

Social safety nets protect citizens against hardship. By offering compensation, social safety nets may help overcome the political resistance to trade liberalisation and structural reform, but they can also weaken the incentives to work and save. Depending on their design, safety nets may also...

Persistent link: https://www.econbiz.de/10005046192