OECD Economic Policy Papers

Growth Policies and Macroeconomic Stability
2226-583X (online)
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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.
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Mark Number Date TitleClick to Access
  N° 8   06 Feb 2014 Click to Access:  Growth Policies and Macroeconomic Stability
Douglas Sutherland, Peter Hoeller
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...
  N° 7   01 July 2013 Click to Access:  Choosing Fiscal Consolidation Instruments Compatible with Growth and Equity
Boris Cournède, Antoine Goujard, Álvaro Pina, Alain de Serres
Despite sustained efforts made in recent years to rein in budget deficits, a majority of OECD countries still face substantial public finance consolidation needs moving forward, owing to the legacy of debt accumulation before the crisis, and to the role played by fiscal policy in rescuing the...
  N° 6   26 June 2013 Click to Access:  Public Spending on Health and Long-term Care
Christine de la Maisonneuve, Joaquim Oliveira Martins
This paper proposes a new set of public health and long-term care expenditure projections till 2060, following up on the previous set of projections published in 2006. It disentangles health from longterm care expenditure as well as the demographic from the non-demographic drivers, and refines...
  N° 5   12 June 2013 Click to Access:  Judicial Performance and its Determinants
Giuliana Palumbo, Giulia Giupponi, Luca Nunziata, Juan S. Mora-Sanguinetti
Well functioning judiciaries are key to economic development. Combining existing information with a newly collected dataset, the paper provides cross-country comparisons of measures of judicial performance, and investigates how cross-country differences in trial length are related to the...
  N° 4   28 May 2013 Click to Access:  Knowledge-Based Capital, Innovation and Resource Allocation
Dan Andrews, Chiara Criscuolo
Investment in knowledge-based capital (KBC) – assets that have no physical embodiment, such as computerised information, innovative property and economic competencies – has been rising significantly. This has implications for innovation and productivity growth and requires new thinking on...
  N° 3   09 Nov 2012 Click to Access:  Looking to 2060: Long-Term Global Growth Prospects
Åsa Johansson, Yvan Guillemette, Fabrice Murtin, David Turner, Giuseppe Nicoletti, Christine de la Maisonneuve, Guillaume Bousquet, Francesca Spinelli
This report presents the results from a new model for projecting growth of OECD and major non-OECD economies over the next 50 years as well as imbalances that arise. A baseline scenario assuming gradual structural reform and fiscal consolidation to stabilise government-debt-to GDP ratios is...
  N° 2   11 June 2012 Click to Access:  International Capital Mobility
Rudiger Ahrend, Antoine Goujard, Cyrille Schwellnus
The structure of a country’s external liabilities, as well as the extent and nature of its international financial integration are key determinants of its vulnerability to financial crises. This is confirmed by new empirical analysis covering OECD and emerging economies over the past four...
  N° 1   12 Apr 2012 Click to Access:  Fiscal Consolidation
Douglas Sutherland, Peter Hoeller, Rossana Merola
The economic and financial crisis was the catalyst for a fiscal crisis that engulfs many OECD countries. Consolidating public finances in order to address the consequences of the crisis, underlying weaknesses and also future spending pressures creates important challenges. Fiscal consolidation...
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