Empirical research on the drivers of multi-factor productivity (MFP) is abundant at the firm- and industry level but surprisingly little research has been conducted on the determinants of MFP at the macroeconomic level.

New Zealand has experienced robust economic growth since 2012, buoyed by record levels of inward migration and strong terms of trade. Employment has expanded vigorously, reversing much of the increase in unemployment since the onset of the global financial crisis.

The latest OECD Economic Survey of Iceland, to be published on Tuesday 27 June, analyses the factors behind the country’s remarkable economic turnaround as well as steps that can be taken to preserve sustainable and inclusive growth.

New Zealand enjoyed strong economic growth during 2016, driven by high net inward migration, solid construction activity, booming tourism and supportive monetary policy, although in per capita terms growth has been more in line with that in other advanced economies.

Iceland is the OECD’s smallest economy and,currently,the fastest growing. A booming financial services and construction led to a deep financial crisis in 2008. However, Iceland has made a remarkable turnaround, helped by spectacular growth of tourism, prudent economic policies and a favourable external environment.

Austria’s transition to a digital economy and society is progressing but is slower than in the most advanced economies. A whole-of-government approach should help embrace change and facilitate the flourishing of innovative businesses, work practices and lifestyles throughout Austria.

This paper provides an overview of labour market resilience in the wake of the Great Recession of 2008-09 and the role played by macroeconomic and structural policies.

Unemployment is still above 8% in Latvia and contributes to poverty, in part because many unemployed have been without a job for an extended period of time.

Ahead of the referendum on Brexit, the OECD was anticipating a significant decrease in economic growth if the decision to leave the EU were taken (Kierzenkowski et al., 2016). As the UK economy has started to slow down, OECD projections remain remarkably valid so far.

The database contains indicators capturing structural policies (including institutions, framework condition policies and policies specifically related to labour markets and drivers of productivity and investment such as trade, skills and innovation).

This paper estimates and quantifies the impact of structural reforms on per capita income for a large set of OECD and non-OECD countries.

Business dynamism and sound management of natural resources wealth has helped propel Norway among the highest levels of GDP per capita in the world. Combined with its “Nordic model” ensuring inclusiveness and low inequality, Norway exhibits impressive levels of well-being in many dimensions.

In its latest Economic Survey for Norway , the OECD underscores the importance of policy facilitating transition away from oil-related activities and helping businesses seize opportunities from digitalisation and globalisation, through providing i) macroeconomic and financial stability, and ii) improvements to structural-policy settings.

Thanks to a highly developed welfare state, poverty is moderate on average in France, but – as in other countries – highly concentrated in some neighbourhoods.

Vacancy for Economist, OECD Economics Department

Vacancy for Senior Economist, OECD Economics Department

OECD household income growth continues to lag GDP growth, slowing to 0.2% in third quarter of 2017

OECD household income growth picks up to 0.3% in fourth quarter of 2017 but continues to lag GDP growth

Finland enjoys a high level of income and well-being. Nevertheless, output has been dragged down by the global downturn, the decline of the electronics and paper industries and the Russian recession.

The Israeli economy continues to register remarkable performance, with strong growth, low and falling unemployment and sound public finances leading to the 15th consecutive year of economic expansion. Further reforms will be needed to drive down inequality and raise living standards for all Israelis, according to a new report from the OECD.

Israel’s economy continues to register remarkable macroeconomic and fiscal performance. Growth is strong and unemployment low and falling. With low interest rates and price stability, financial policy is prudent, and public debt is comparatively low and declining.

Poland’s economic growth remains strong. Rising family benefits and a booming jobs market are lifting household income while poverty rates and inequality are falling, says a new OECD report.

Tunisia is firmly committed to a process of democratisation that needs underpinning by economic reforms in order to guarantee an improved standard of living for all Tunisians.

OECD appoints Laurence Boone as new Chief Economist

The Netherlands is experiencing vibrant economic activity, with gross domestic product (GDP) at about 8% above its pre-crisis peak and the unemployment rate below 4%. Growth picked up to above 3% in 2017, which was well above the euro area and OECD averages.

Lithuania’s economy has grown faster than most other OECD economies over the past 10 years, unemployment continues to fall and public finances have stabilised after a long period of deficits and rising debt.

Policy choices made today can have important positive effects on future living standards, according to new long-term economic scenarios released by the OECD.

Structural Policy Indicators Database for Economic Research (SPIDER)

The current Canadian government has declared itself feminist and has taken a number of steps to improve labour market outcomes for women. In terms of employment and labour force participation, Canadian women do much better than the OECD average.

The discussion about a fiscal stabilisation capacity as a way of providing more fiscal integration in the euro area has strengthened in the aftermath of the European sovereign debt crisis.

OECD household income up 0.7% in first quarter of 2018, outpacing GDP growth

Economic research has established that a large part of income disparities between poor and rich countries can be attributed to differences in governance and in the quantity and quality of human capital.

OECD household income growth slows to 0.3%, lagging behind GDP growth in second quarter of 2018

This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2012.

After a decade of relatively strong growth, Latin America is facing headwinds associated with declining trade, a moderation in commodity prices and increasing uncertainty over external financial conditions, according to the latest Latin American Economic Outlook jointly produced by the OECD Development Centre, the UN Economic Commission for Latin America and the Caribbean (UN ECLAC) and CAF - Development Bank of Latin America.

Strong crop yields, higher productivity and slower growth in global demand should contribute to a gradual decline in real prices for agricultural products over the coming decade, but nonetheless, prices will likely remain at levels above those in the early-2000s, according to the latest Agricultural Outlook report produced by the OECD and FAO.

Latin America and the Caribbean’s (LAC) GDP will shrink by between 0.9% and 1% in 2016, according to the latest estimates, the second consecutive year of negative growth and a rate of contraction the region has not seen since the early 1980s. According to the Latin American Economic Outlook 2017, the region should recover in 2017, but with modest GDP growth of between 1.5% and 2%, below expected growth in advanced economies.

Korea has weathered the shocks triggered by the global recession and its economy is recovering more quickly and vigorously than most other OECD countries.

Effective macroeconomic and structural policies helped Turkey bounce back quickly and strongly from the global crisis, with annual growth averaging close to 9% over 2010-11

The economics profession seems to increasingly endorse the existence of a strongly negative nonlinear effect of public debt on economic growth. Reinhart and Rogoff (2010) were the first to point out that a public debt to GDP ratio higher than 90% of GDP is associated with considerably lower economic performance in advanced and emerging economies alike.

Secretary-General Angel Gurría welcomes a network of senior officials attending the 31st Centres of Government (COG) meeting held in London. Highlights include the importance of institutions in economic reform through improved co-ordination, outreach and transparency.

Intergovernmental fiscal frameworks usually reflect fundamental societal choices and history and are not foremost geared towards achieving economic policy objectives. Yet, like most institutional arrangements, fiscal relations affect the behaviour of firms, households and governments and thereby economic activity.

This paper develops a simple model-based framework for stress testing fiscal consolidation strategies under different scenarios of future shocks

This report provides a framework to understand the changing relationships between urban and rural areas. Specifically, it documents the characteristics of these partnerships and the factors that can hinder as well as enable rural-urban co-operation.

The metropolitan region of Aix-Marseille in the south of France needs to tackle its fragmentated governance if it is to return to more inclusive and sustainable economic growth, according to a new OECD report.

World Economic Forum: Global Agenda Council Launches Guide to Good Government and Trust-Building

Uncertainty faced by households and firms affects economic activity. The rise in uncertainty since the beginning of the sovereign debt crisis in Greece could be one factor that has contributed to the steep and long-lasting recession. This paper presents a brief empirical analysis quantifying this phenomenon and compares it with developments in Ireland and Portugal.

Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process.

Living standards continue to diverge within many economically advanced countries as poorer regions struggle to catch up with richer ones. Half of the 34 OECD countries have seen the income gap between their best-off and worst-off regions widen since the 2008 crisis, according to new OECD research.

The objective of this paper is to define long-run prudent debt targets for OECD countries and country-specific fiscal rules. To this end, a semi-structural macroeconomic model for OECD countries and primary balance reaction functions are estimated.