Growth and inequality: A close relationship?
Inequality has risen in the OECD area. Could policies aimed solely at growth be responsible? Can inequality undermine economic growth? New evidence suggests there is a possibility.
Inequality has risen in the OECD area. Could policies aimed solely at growth be responsible? Can inequality undermine economic growth? New evidence suggests there is a possibility.
Danish productivity has grown only weakly over the past two decades, both historically and in relation to other countries, despite sound policies and institutions. Denmark needs to continue its efforts to reap the benefits of globalisation, which would contribute to invigorating productivity growth.
A slowdown in global economic growth and a continuing rise in income inequality are projected for the coming decades, according to a new OECD study which looks beyond the crisis at what the world could look like by 2060.
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.
To strengthen social cohesion, a top government priority, it is essential to address the labour market roots of inequality by breaking down dualism to reduce the share of non-regular workers and to boost the employment ratio toward the government’s 70% target.
Cambiare il quadro politico-istituzionale in Italia è fondamentale per garantire che le ambiziose riforme in corso rilancino la crescita e aumentino la qualità della vita, secondo un nuovo rapporto dell’OCSE.
Mexico has embarked on a bold package of structural reforms that will help it to break away from three decades of slow growth and low productivity. Major structural measures have been legislated to improve competition, education, energy, the financial sector, labour, infrastructure and the tax system, among many, and implementation has started in earnest.
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.
In his speech delivered at the Brookings Institute, OECD Secretary-General Gurría explains that OECD’s numbers tell a clear-cut story of how our traditional economic growth agenda has neglected inclusiveness. Yet to begin to tackle this problem, we have to understand that inequality is not just about money. It touches every area of people’s lives.
This paper aims at gauging the skills and knowledge gap of tertiary graduates of universities and vocational colleges across China. It also looks at the employment and wage prospects of graduates with different educational backgrounds.
This paper studies how public policies, including pro-women interventions, can raise female labour force participation and promote economic growth in India.
Children are paying a high price for today’s growing inequality, according to a new OECD report.
A well-functioning labour market is indispensable to promote job creation, increase living standards, and develop a cohesive society. In Italy, the various deficiencies of the labour market have resulted in high unemployment, low labour force participation and job-skill mismatch.
Gender mainstreaming with the aim of more gender equality ranks high on the agenda of Austrian policy makers.
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.
Boosting economic growth and investment to create jobs, improve the stability of public finances and provide an effective social safety net are crucial to help Greece recover from the profound social costs of the economic crisis, says the OECD in its latest report.
Declining productivity growth and rising inequality are two of the biggest obstacles to improved economic performance, according to a new OECD report.
GDP per capita in Lithuania rose from one third to two thirds of the OECD average level between 1995 and 2014, despite internal and external crises. Productivity catch-up was critical to this process, although the level of labour productivity also remains around one-third below the OECD average.
Costa Rica’s economic, social and environmental achievements are impressive. It has succeeded in combining rising living standards, virtually universal health care, pension and primary education systems with sustainable use of natural resources.
GDP per capita in Lithuania rose from one third to two thirds of the OECD average level between 1995 and 2014, despite internal and external crises. Productivity catch-up was critical to this process, although the level of labour productivity also remains around one-third below the OECD average.
Yesterday’s OECD Interim Economic Outlook warns that trade growth is slowing, contributing to another slowing of global GDP growth in 2016 and with few signs of improvement for 2017.
Across the OECD, GDP per capita is converging. In contrast, regional disparities – or differences in GDP per capita across jurisdictions – are rising, mainly as a result of widening productivity differences. Fiscal decentralisation could help reduce them again. According to new OECD research, assigning more ownsource revenue to sub-national governments dampens regional GDP disparities and underpins regional convergence.
Measures that enable the acquisition of new skills and reduce mismatches between the demand and supply of existing skills can boost US economic growth and make its benefits more inclusive.
Labour market mobility in the European Union is increasing, but it remains too low to provide sufficient adjustment in the face of diverging labour market developments.
Widespread increases in inequality over the past three decades have raised the question of whether growth in itself is a driver of income inequality.
Equality, a long-standing hallmark of Swedish society, carries multiple benefits in terms of economic performance, trust, opportunity and well-being.
Sweden ranks among the OECD’s frontrunners in terms of gender equality. Women have a high employment rate, outperform men in education and are well represented in government and parliament.
Further structural reform is required to raise productivity growth through a better climate for business and stronger R&D outcomes.
Despite an improvement in overall macroeconomic performance in Costa Rica, income inequality has risen and is currently at its maximum historical value.
Citizens in many countries are expressing dissatisfaction with how they believe trade, technology and immigration are affecting their daily lives. While much of this discontent can be traced back to the global economic crisis, its root causes are more complex. What can be done at the Global, European and German level?
Despite strong economic growth, Costa Rica’s income inequality has increased in the past decade, in stark contrast with other Latin American countries.
The Spanish economy is growing strongly, but there is a risk that many people are being left behind.
The global economy is expected to pick up moderately but greater efforts are needed to ensure that the benefits from growth and globalisation are more widely shared, according to the OECD’s latest Economic Outlook.
The Austrian economy is strengthening, supported by recent tax reform and a pick-up in international trade. With business and household confidence rising and the short-term outlook favourable, policymakers should enact deeper structural reforms that will improve both fiscal sustainability and social cohesion.
Digitalisation will redesign production processes and alter relationships between work and leisure, capital and labour, the rich and the poor, the skilled and the unskilled. It creates opportunities to boost inclusive growth and well-being by raising productivity, enhancing private and public services, and democratising information.
Não obstante o progresso significativo conseguido, melhorar as competências e as qualificações continua a ser um dos principais desafios que Portugal enfrenta para aumentar o crescimento, os níveis de vida e o bem-estar.
The peace agreement will boost economic growth, but to share it fairly Colombia must also achieve better educational outcomes and bring more people into the more productive formal economy.
Can reforms that shift the balance among different taxes in the revenue mix lastingly influence the overall prosperity of an economy and the distribution of income across households?
More than a quarter of adults in the United Kingdom have low basic skills, which has a negative impact on career prospects, job quality and productivity growth.
A favourable growth outlook offers Chile an opportunity to address its low productivity levels compared to other advanced economies, improve access to quality jobs and take steps to reduce its persistently high inequality, according to a new OECD report.
Chile has been one of the fastest-growing economies in the OECD in recent decades. Sound macroeconomic management, bold structural reforms, such as trade and investment liberalisation, and buoyant natural-resource sectors, supported fast convergence in living standards.However, progress has slowed: declining productivity gains are limiting prospects for rising incomes and better-quality jobs; and inequality remains stubbornly high.
Declining inflation in many countries over the past few decades at the same time as rising global competition has led to a debate on the importance of globalisation for domestic inflation. This paper explores the implications of global value chain (GVC) integration and market contestability for inflation using a range of industry-level and micro-data sources.
What is the relevant perspective for evaluating people’s living standards in advanced countries? According to standard assessments of inequality it is fellow citizens within the country.
Markets and commentators are speculating that there may be a sustained pick-up in inflation in the United States, after years of subdued price pressures. Along with continued solid US jobs growth and low unemployment, there are tentative signs of higher wage growth and the fiscal stimulus will also boost short-term growth. Global growth is also getting stronger.