Après la longue récession qui a suivi le second choc pétrolier, la reprise économique est actuellement amorcée dans la plupart des grands pays de l'OCDE. Elle est d'une importance variable selon les pays : si les Etats-Unis connaissent d'ores et déjà une croissance rapide de la production...

Ces dernières années, le niveau des taux d'intérêt réels est apparu relativement élevé dans la plupart des pays de l'OCDE. Cela n'a pas empêché la reprise économique de se développer (à un rythme plus rapide aux Etats-Unis et au Japon qu'en Europe) pas plus qu'il n'y a eu,...

This paper reassesses, in the light of recent experience, the formulation of monetary policy in terms of targets for monetary aggregates in the major countries. A number of difficulties which have arisen are discussed: instability of the money-income relationship; constraints created by fiscal...

Natural hazards are natural processes of the complex Earth system and may interact and affect each other. Often a single hazard can trigger a subsequent, different hazard, such as earthquakes triggering landslides. The effect of such cascading hazards has received relatively little attention in...

Temporal trends between 1951 and 2007 in annual Indian Summer Monsoon (ISM) precipitation, frequency of severe drought years and onset date of ISM were analysed on a 0.25° × 0.25° grid cell basis across India using APHRODITE daily gridded precipitation data. Locations which experienced...

During the past decade, the formulation of fiscal policy has been increasingly founded on medium-term considerations associated with public debt and economic efficiency. In this regard, this paper, and the ones by Olivier Blanchard and Edward Gramlich in the same Working Paper Series, considers...

This paper discusses several aspects of the medium-term orientation of OECD countries' economic policies in the 1980s, concentrating on monetary and fiscal instruments. The developments that led to the adoption of such a "medium-term strategy", and the apparent analytical rationale for it, are...

This paper first gives a brief account of the main changes introduced by OECD governments in their capital income tax rules during the 1980s with respect to both the corporate and personal sectors. It then examines the evolution of effective capital taxation, using a summary measure ("tax...