OECD Economic Policy Papers

ISSN :
2226-583X (online)
DOI :
10.1787/2226583x
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The OECD Economic Policy Papers series is designed to make available selected studies on structural and macro-economic policy issues of current interest. The Papers are produced in the context of the work carried out on the two regular OECD titles, OECD Economic Outlook and Going for Growth.
 

Growth Policies and Macroeconomic Stability You or your institution have access to this content

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Author(s):
Douglas Sutherland1, Peter Hoeller1
Author Affiliations
  • 1: OECD, France

Publication Date
06 Feb 2014
Bibliographic information
No.:
8
Pages
30
DOI
10.1787/5jz8t849335d-en

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Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy’s vulnerability to shocks and their propagation. Macroeconomic shocks as severe and protracted as those since 2007 warrant a reconsideration of the role growth-promoting policies play in shaping the vulnerability and resilience of an economy to macroeconomic shocks. Against this background, this paper looks at a vast array of policy recommendations by the OECD that promote longterm growth – contained in Going for Growth and the Economic Outlook – and attempts to establish whether they underpin macroeconomic stability or whether there is a trade-off.
Keywords:
economic policy, volatility, business cycles
JEL Classification:
  • E32: Macroeconomics and Monetary Economics / Prices, Business Fluctuations, and Cycles / Business Fluctuations; Cycles
  • E52: Macroeconomics and Monetary Economics / Monetary Policy, Central Banking, and the Supply of Money and Credit / Monetary Policy
  • E62: Macroeconomics and Monetary Economics / Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook / Fiscal Policy
  • O40: Economic Development, Technological Change, and Growth / Economic Growth and Aggregate Productivity / General