Fiscal consolidation is required in most OECD countries. This is especially so in view of medium and long-term spending pressures on public finances, related, inter alia, to ageing. Based on a dataset covering a large number of OECD fiscal consolidation episodes starting in the late 1970s, the...

Since 2001, OECD corporate net lending has risen sharply. This paper examines the main forces at play behind this run-up and provides some insight into whether and how they might possibly unwind in the future, a process that may already be underway. It shows in particular that, the increase is...