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.

Over the last decades Argentina’s living standards have lost ground relative to other developed and emerging economies. Putting Argentina on a path to stronger, inclusive and job-rich growth requires boosting productivity and strengthening investment through wide-ranging structural reforms.

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.

This paper compares Finland’s benefit system with two benefit reform scenarios: a uniform benefit for all ("basic income") and a universal tapering rule ("universal credit").

OECD CLIs point to stable growth momentum in the OECD area

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.

Current weak labour productivity growth in many OECD countries reflects historically weak contributions from both total factor productivity (TFP) growth and capital deepening.

Costa Rica has made impressive economic and social progress in recent years, with robust economic growth facilitating near-universal access to education, health care and pensions.

New firm-level analysis undertaken in tandem with the OECD Economic Survey of Ireland 2018 finds that the majority of businesses in Ireland have actually experienced falling productivity since the mid-2000s.

From a feudal trading hub connecting South with East Asia in the 18th and 19th centuries, Thailand has developed into a rapidly modernising and more urban economy. The second half of the 20th century saw the rapid expansion in manufacturing and services, which underpinned its transformation into an upper-middle-income 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.

The Nordics are rightly renowned for being inclusive societies with low inequality compared to other OECD countries. However, some of the largest inequality increases over the past few decades took place in Sweden, Finland and Denmark.

Mr. Angel Gurría, Secretary-General of the OECD, will be in Athens on Monday 30 April 2018 to present the 2018 OECD Economic Survey of Greece, alongside Mr. Alexis Tsipras, Prime Minister of Greece.

Greece’s recovery from deep economic depression is finally gaining traction, according to the OECD. Economic growth has started to pick up led by a rise in exports while labour market reforms have improved competitiveness and are helping to create jobs.

Chile’s export growth has disappointed over the past two decades. In particular, exports of goods and services - in volume - have only grown at 1.1% annually over 2009-17 and at around 2.0% for non-copper products and services, compared to 4.2% in the average Latin American country.

Reforming the public sector, long a priority for Thailand, involves several challenges. Among these, insufficient public participation in policy-making is undermining the efficient allocation of resources toward public needs and development goals.

OECD CLIs continue to point to stable growth momentum in the OECD area

Paris, 15-16 May 2018 - This workshop will focus on recent developments and main policy challenges related to the emergence of digital financial assets. Discussions will cover monetary policy and financial systems, regulation, firms’ business and funding models, and taxation.

Greece is finally recovering from a deep depression. In 2017 GDP expanded by 1.3%, according to initial estimates, and is projected to accelerate to 2% in 2018 and 2.3% in 2019.

Thailand has made remarkable socio-economic progress over the past several decades. Poverty has plummeted and access to education and health services has become near universal.

The analysis suggests that countries with a counter-cyclical fiscal stance typically have a public spending structure that is more supportive of inclusive growth.

The combination of different working-age benefits, childcare costs and income taxation creates complexity, reduces work incentives and holds back employment.

“Urgent and concerted effort” is needed from governments to drive more inclusive, sustainable economic growth that benefits everyone in society, according to a new OECD report.

Finland raises a large amount of taxes to finance high-quality public services and redistribute income.

Thailand’s path from a low-income to an upper-middle-income country over recent decades is widely hailed as a development success story.

Thailand’s "sufficiency economy philosophy" encourages the prioritisation of long-term sustainability over short-term benefits.

The Peace pillar of the 2030 Agenda for Sustainable Development encompasses a diverse range of issues including stability and effective governance.

Over the past decade, limited structural reform and capital investment have held back productivity growth and improvements in well-being, and Thailand has lost ground vis-à-vis regional comparators.

Mr. Angel Gurría, Secretary-General of the OECD, will be in Washington on 6-7 June 2018 to present the 2018 OECD Economic Survey of the United States.While in Washington, the Secretary-General will hold bilateral meetings with several US high level officials.

OECD appoints Laurence Boone as new Chief Economist

Mr. Angel Gurría, Secretary-General of the OECD, will be in Berlin on 11-12 June 2018 to attend a meeting with Chancellor Merkel and Heads of International Organisations. While in Berlin, the Secretary-General will also present the 2018 OECD Economic Survey of Germany.

1st Joint IMF-OECD-World Bank Conference on Structural Reforms

Network sectors (energy, transport and communications) have undergone a process of liberalisation in Greece in more than a decade.

The German economy is undergoing a robust expansion, with record-low unemployment and real wage gains underpinning domestic demand while strong exports are driving business investment. The strong fiscal position will offer opportunities for funding structural reforms and public investment to meet future challenges, according to a new report from the OECD.

Global trade imbalances narrowed in the aftermath of the global financial crisis. They have remained at a lower level but are still of concern to policy makers because of the risks they pose to individual economies, as well as globally.

Stable growth momentum in the OECD area

Mr. Angel Gurría, Secretary-General of the OECD, was in Madrid 13-15 June 2018. The Secretary-General delivered remarks at the event organised by the Consejo Iberoamericano para la Competitividad y Productividad: "Innovación gubernamental para un Estado al servicio de la Sociedad".

The economic expansion in the United States is now one of the longest on record, although it has been sluggish in comparison with previous recoveries. While job growth has reduced the unemployment rate to historically-low levels, many people still remain on the sidelines of the labour market, as shown by the low participation rates of prime age workers.

As discussed in the latest OECD Economic Outlook, the prolonged undershooting of inflation targets, despite massive monetary policy stimulus and stronger economic growth and lower unemployment, raises issues about the appropriateness of current inflation targeting frameworks in advanced economies. While the frameworks differ in detail and implementation, they are principally based on medium-term inflation objectives of 2%.

The European economy is growing robustly, helped by accommodative monetary policy, mildly expansionary fiscal policy and the global acceleration. The current economic expansion should be used to speed up implementation of reforms to the euro area architecture and EU policies that would support greater European integration and ensure stronger, more inclusive long-term growth, according to two new reports from the OECD.

Short-term prospects for the Korean economy are good, with an uptick in world trade and fiscal policy driving growth, but productivity remains relatively low and the country faces the most rapid population ageing in the OECD area, according to a new report from the OECD.

Since the early 2000s, the investment rate has declined, driven by the decrease in business investment.

Mr. Angel Gurría, Secretary-General of the OECD, will be in The Hague on 2 July 2018 to present the 2018 OECD Economic Survey of The Netherlands. While in The Hague, the Secretary-General will hold bilateral meetings with several Ministers and high-level officials of The Netherlands.

Tunisia’s trade, Tunisia's openness and its integration into global value chains has improved significantly since the mid-1990s, reflecting the country's comparative advantages.

Poland’s catch up with other OECD country has been largely based on productivity growth resulting from restructuring towards more productive sectors and foreign technology absorption.

Poland’s productivity has grown strongly over the past two decades. However, the public and private capital stock is weak, and investment remains focused on the adoption of existing technologies, which weighs on future productivity gains and innovation.

In 2016 the Polish government introduced a large new child benefit, called "Family 500+", with the aim to increase fertility from a low level and reduce child poverty.

Economic performance in The Netherlands is vibrant and growth is expected to remain robust, underpinned by sound public finances, healthy job creation and high levels of confidence. The current economic expansion should be used to speed up implementation of reforms to ensure future stability and support more inclusive labour markets, according to a new report from the OECD.

This paper summarises earlier OECD work aimed at quantifying the impact of structural reforms on economic outcomes.

With still large government debt and interest payments in many OECD countries, actively adjusting debt maturity can help to minimise debt servicing costs.