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Consequences of climate change damages for economic growth – a dynamic quantitative assessment

This report focuses on the effects of climate change impacts on economic growth. The analysis finds that the effect of climate change impacts on annual global GDP is projected to increase over time, leading to a global GDP loss of 0.7% to 2.5% by 2060 for the most likely equilibrium climate sensitivity range.




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Consequences of climate change damages for economic growth – a dynamic quantitative assessment

This report focuses on the effects of climate change impacts on economic growth. The analysis finds that the effect of climate change impacts on annual global GDP is projected to increase over time, leading to a global GDP loss of 0.7% to 2.5% by 2060 for the most likely equilibrium climate sensitivity range.




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Turkey: Macroeconomic stability and structural reform key to strong and inclusive growth, OECD says

Turkey’s economy will grow stronger in the coming years, but remains overly dependent on domestic consumption funded by foreign finance, according to the latest OECD Economic Survey of Turkey.




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Women’s role in the Swiss economy

Swiss women are now as well educated as their male counterparts. However, progress remains to be made in the job market where both the supply and price of female labour are below that of men.




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Gross earning inequalities in OECD countries and major non-member economies: determinants and future scenarios

Income and earning inequality has been on the rise in most of the OECD and in many emerging economies since the 1980s. This paper estimates a model of earnings inequality across OECD countries that incorporates determinants of relative demand and supply of more and less-skilled labour.




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International migration: the relationship with economic and policy factors in the home and destination country

Unfavourable demographic trends in many OECD countries threaten the sustainability of potential labour resources, GDP growth and fiscal positions. One factor that is expected to mitigate these trends is continued inflows of migrant workers from low income economies.




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Deconstructing Canada’s housing markets: finance, affordability and urban sprawl

House prices have increased significantly in Canada over the past decade, driving household debt and residential construction activity to historical highs.




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Health, work and working conditions: a review of the European economic literature

Economists have traditionally been very cautious when studying the interaction between employment and health because of the two-way causal relationship between these two variables: health status influences the probability of being employed and, at the same time, working affects the health status.




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Fostering a creative economy to drive Korean growth

A creative economy requires innovation-friendly conditions. Korea’s innovation system should be improved by upgrading universities and expanding their role in business R&D, while increasing international collaboration in R&D from its current low level.




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US long term interest rates and capital flows to emerging economies

This paper studies the association between US long term interest rates and cycles of capital flows to emerging market economies (EMEs). It finds that, indeed, cycles in capital flows to EMEs are linked to global conditions, including global risk aversion and long term interest rates in the United States.




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OECD appoints Catherine L. Mann as new Chief Economist

OECD Secretary-General, Angel Gurría is pleased to announce the appointment of Ms. Catherine L. Mann as the new OECD Chief Economist. Her appointment will reinforce the OECD’s commitment to identifying and promoting better policies for better lives around the world.




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Spain is on the road to recovery, but challenges remain to ensure sustainable, inclusive growth, says OECD

Spain is emerging from a protracted recession, marked by a return to moderate growth and rising international competitiveness. Decisive banking and fiscal reforms, coupled with supportive monetary policy from the European Central Bank, have reduced financial tensions and improved public finance.




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OECD and National Bureau of Economic Research Conference on Productivity Growth and Innovation in the Long Run. 25-26 September, Paris.

Increasing productivity is critical to achieving strong, sustainable and inclusive growth and well-being. Technological change and innovation are the key drivers of increased productivity, along with better skills and organisational change.




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Secular stagnation: evidence and implications for economic policy

This paper investigates whether OECD countries are facing secular stagnation. Secular stagnation is defined as a situation when policy interest rates bounded at zero fail to stimulate demand sufficiently, due to low or negative neutral real interest rates and low inflation, and when ensuing prolonged and subdued growth undermines potential growth via labour hysteresis and discouraged investment.




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Mr. François Hollande, President of the French Republic, met with the Heads of international economic organisations at the OECD

The President of the French Republic, Mr. François Hollande, met the Heads of five international economic organisations at the OECD on Friday 17th October to discuss the challenges facing the global economy.




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Fundamental reforms paving the way for economic recovery in Portugal, OECD says

Fundamental reforms have helped put the Portuguese economy back on the right track, but a durable recovery will require additional measures to improve export competitiveness, create jobs and ensure social protection for those most in need, according to the latest OECD Economic Survey of Portugal.




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Economic activity is accelerating in the Slovak Republic, OECD says

Economic recovery is picking up in the Slovak Republic, but regional disparities and high unemployment must be addressed to ensure balanced inclusive growth over the long-term, according to the latest OECD Economic Survey of the Slovak Republic.




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Comprehensive action needed to shift the global economy into higher gear, says OECD in latest Economic Outlook

The global economy remains stuck in low gear, but is expected to accelerate gradually if countries implement growth-supportive policies. Widening differences across countries and regions are adding to the major risks on the horizon, according to the advanced G20 release of the OECD’s latest Economic Outlook.




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The global economy: strengthening growth and job creation - Statement at G20 Leader's Summit

Statement made by the Secretary-General during session 1 of the Leader's Summit in Brisbane.




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The internet economy – regulatory challenges and practices

Designing policies that protect society while allowing for Internet’s great economic potential to be fulfilled, is a difficult task. This paper investigates this challenge and takes stock of existing regulations in OECD and selected non-OECD countries in specific areas related to the digital economy.




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Stronger policy response needed to avoid risks to growth, especially in the euro area, says OECD in latest Economic Outlook

Modest global economic forecasts, continuing high unemployment, and downshifts in potential output,should spur governments with a greater sense of urgency to fully employ monetary, fiscal and structural policy levers to support growth, notably in Europe, according to the OECD’s latest Economic Outlook.




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Making economic growth more socially inclusive in Germany

While past labour market reforms have been successful in terms of employment, the relative poverty risk and income inequality have remained broadly unchanged in recent years.




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Trade patterns in the 2060 world economy

The analysis suggests that over the next 50 years, the geographical centre of trade will continue to shift from OECD to non-OECD regions reflecting faster growth in non-OECD countries.




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Building on rural sector is key for economic modernisation in Myanmar, says OECD

Improving Myanmar's agricultural sector by building up food processing activities and related services could help the transformation of the country's economy, to a more modern one able to produce higher-value goods for export, according to a new OECD report.




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Colombia needs a comprehensive tax reform to boost investment and diversify the economy, OECD says

The Colombian economy has done remarkably well over the last decade, consistently ranking among the fastest-growing countries in Latin America, but a comprehensive tax reform that promotes investment and diversifies the economy is now needed to put the country on a path toward stronger, sustainable and inclusive growth, according to the latest OECD Economic Survey of Colombia.




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Raising the economic participation of women in India – a new growth engine?

Economic participation of women in the labour force or as entrepreneurs is low compared to peers and has declined over the past decades despite strong growth. The gap with men is over 50% - the largest among key emerging markets.




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The UK economy is doing well, but the job is not yet finished. Unleashing productivity is key to sustaining strong growth, says OECD

The United Kingdom’s economy is projected to expand this year and next, but challenges remain to boost productivity and make future growth more inclusive, according to the OECD’s latest Economic Survey.




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OECD Interim Economic Assessment launches Wednesday 18 March at 11:00 a.m.

Chief Economist Catherine L. Mann will present the near-term prospects for the global economy on Wednesday 18 March at 11:00 a.m. (CET).




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The changing role of the exchange rate for macroeconomic adjustment

Recent episodes of large exchange rate movements, such as for Japan or the United Kingdom, have typically not been associated with large changes in trade balances and despite the polarisation of international investment positions large currency fluctuations during the global crisis of 2008-09 did not cause significant financial dislocations.




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Low oil prices and monetary easing triggering modest acceleration of global recovery

Low oil prices and monetary easing are boosting growth in the world’s major economies, but the near-term pace of expansion remains modest, withabnormally low inflation and interest rates pointing to risks of financial instability, according to the OECD’s latest Interim Economic Assessment.




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Luxembourg must diversify its economy and maintain a strong and resilient financial sector

Luxembourg weathered the global economic crisis well, but must take additional steps to foster the diversification of the economy while ensuring the continuing health of its financial sector, according to the latest OECD Economic Survey of Luxembourg.




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Swedish economy resilient but needs to focus on productivity and human capital to keep its edge

The Swedish economy has been among the most resilient in Europe, despite the slow global recovery and high uncertainty, but challenges remain if it is to maintain high growth and well-being and extend prosperity to all, according to the latest OECD Economic Survey of Sweden.




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Action is needed to secure future livelihoods in developed and emerging economies, says the OECD Development Centre

New global trend such as jobless growth, a rising youth population and resource scarcity threaten to undo much of the progress of recent decades in securing people’s ability to make a living, according to a new report by the OECD Development Centre launched in Paris today at the OECD Global Forum on Development.




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Effects of economic policies on microeconomic stability

This paper shows that household-level economic instability is only very loosely related to macroeconomic volatility. However, the analysis also uncovers that moving to highly competitive policies generally reduces micro-level instability.




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Abenomics’ ‘third arrow’ key to revitalising Japan’s economy

The Japanese economy is on a path to stronger growth, but fundamental structural reforms are urgently needed to promote a more robust recovery, address high levels of government debt and reverse a trend toward declining living standards, according to the latest OECD Economic Survey of Japan.




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Africa: making growth more inclusive hinges on unlocking potential of local economies, says the African Economic Outlook 2015

With Africa’s population set to double by 2050, modernising local economies will be vital to make the continent more competitive and to increase people’s living standards, according to the African Economic Outlook 2015, released at the African Development Bank Group’s 50th Annual Meetings.




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Middle-class economics

In 2014, the US economy added more jobs than in any year since the 1990s. In fact, this longest streak of job growth on record has persisted into 2015. Inflation-adjusted wages are up by 1.4% annually over the last two years, more than twice the pace of the last recovery. But this is still not enough to make up for decades of subpar gains for middle-class families–a challenge shared by many other OECD economies.




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Strengthening investment key to improving world economy’s B-minus grade, says OECD

Global growth will gradually strengthen towards its pre-crisis trend rate by late 2016 as activity becomes more evenly shared across the major economies and overall external imbalances are less marked than in the run-up to 2007, according to the OECD’s latest Economic Outlook.




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New Zealand economy performing well, but sustaining high levels of growth and well-being will require further reforms

The New Zealand economy has performed well in recent years, but bottlenecks in housing and urban infrastructure, inequalities in living standards and rising environmental pressures all pose challenges for sustaining robust growth and high levels of well-being over the long term, according to the OECD’s latest Economic Survey of New Zealand.




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Raising competitiveness and long-term growth of the Slovenian economy

Important reforms have been implemented which raised credibility of Slovenia in the financial markets and boosted confidence. But economic recovery has been sluggish, many people are unemployed and living standards still remain below the pre-crisis levels.




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Enhancing the financing of the real economy and financial stability in the United Kingdom

The banking sector in the United Kingdom (UK) was deeply affected by the crisis. Bank credit has collapsed reflecting both weak demand and tighter supply. New prudential requirements have improved the resilience of the banking sector and a number of measures were taken to support credit supply.




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Making New Zealand’s economic growth more inclusive

New Zealand generally performs well in terms of economic and social inclusion. It has high employment rates, and education and health-care systems work well for most.




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Gender equality and economic growth in India: a quantitative framework

This paper studies how public policies, including pro-women interventions, can raise female labour force participation and promote economic growth in India.




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Ireland needs to sustain reform momentum to secure economic recovery and ensure it benefits all

A strong commitment to reform and a business-friendly environment have helped Ireland return to robust economic expansion, offering the government an opportunity to heal the scars of the crisis, according to the latest OECD Economic Survey of Ireland.




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Sub-par global growth and slowdown in emerging economies requires a shift in policy action

Economic recovery is progressing in the world’s advanced economies, but stagnating world trade and deteriorating conditions in financial markets are curbing growth prospects in many of the major emerging economies, according to the OECD’s latest Interim Economic Outlook.




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Brazil faces critical moment to put economy back on track

Brazil has made remarkable social and economic progress in the past two decades, but must now overcome important challenges if it is to put its economy on a stronger, fairer, greener growth trajectory, according to two new reports from the OECD.




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Chile: Improving opportunities for all is key to a more inclusive and productive economy

A long period of economic expansion in Chile has raised living standards and dramatically reduced poverty, but more needs to be done now to ensure that the country is in a position to move to a stronger, more inclusive and sustainable growth path, according to the latest OECD Economic Survey of Chile.




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Austria's separate gender roles model was popular in the past, but is becoming a constraint for comprehensive wellbeing

Austria has a model of "separate gender roles" in work, family and life arrangements which persists despite efforts to better balance these roles.




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The time is now for a new Latin America-China partnership to foster mutual development strategies, says the Latin American Economic Outlook 2016

Latin America’s GDP growth slowdown deepened and is expected to be negative in 2015. For a second consecutive year, Latin America falls behind the average growth of OECD countries after a full decade of convergence with advanced economies, according to the Latin American Economic Outlook 2016.




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Israel’s economy is sound but it urgently needs to address productivity, inequality and poverty

Israel’s economy has strong fundamentals, but the country needs to address productivity, inequality and poverty if it wants to improve well-being and reduce socio-economic divides, according to the OECD’s latest Economic Survey of Israel.