OECD Economic Outlook, Volume 2006 Issue 2
Twice a year, the OECD Economic Outlook analyses the major trends and examines the economic policies required to foster high and sustainable growth in member countries. Developments in major non-OECD economies are also evaluated. The present issue covers the outlook to end-2008. Together with a wide range of cross-country statistics, the Outlook provides a unique tool to keep abreast of world economic developments.
In addition to the themes featured regularly, this issue contains a special chapter entitled Has the rise in debt made households more vulnerable?, which addresses the following questions:
- What factors explain the observed rise in household debt in many OECD countries?
- Have asset price movements offset the impact on households’ financial positions?
- Are some sectors or groups particularly vulnerable to adverse asset market or income developments?
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Iceland
There are increasing signs that a change in foreign investor sentiment early this year and further policy tightening has set in motion an overdue adjustment process. The economy is projected to contract in the next few quarters. Nonetheless, economic imbalances will remain substantial for some time. Thus, the challenge for policymakers will be to ensure that steady progress is made in unwinding them lest renewed financial market nervousness complicates an orderly adjustment.
Also available in: French
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