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The paper investigates the financial vulnerability of non-financial firms during the Coronavirus (COVID-19) epidemic crisis. In particular, it evaluates the extent to which firms may run into a liquidity crisis following the COVID-19 outbreak and the impact of stylised policy measures to reduce the risks and depth of such crisis. The analysis relies on three ingredients: a simple accounting model, a large dataset reporting firms’ balance sheets for 14 countries and granular data on the magnitude of the shock measuring the impact of confinement measures on economic activity (notably depending on the capacity of each sector to operate by teleworking). Results suggest that, without any policy intervention, up to 38% of firms would face liquidity shortfalls after 10 months since the implementation of confinement measures. Comparing the impact of different policies (tax deferral, debt moratorium and support to wage payments), the analysis shows that government support to relieve wage bills is the most effective tool to reduce liquidity shortages, followed by debt moratorium policies. Finally, the paper zooms into labour market policies and compares the costefficiency of short-term work and wage subsidies schemes, highlighting how their relative efficiency depends on their design.
This literature review provides an up-to-date comprehensive overview of what is known about process quality in early childhood education and care (ECEC) provision for children under age 3. It builds on empirical studies published in peer-reviewed journals between 2010 and 2019. Current views on process quality for children under age 3 highlight that process quality is a multidimensional and value-laden concept. But there is growing agreement on several core features, namely, the prominence of warm/responsive interactions, the value of both education and care and the importance of strong partnerships with parents. Recent studies show positive links between process quality and infant/toddler development. The evidence is relatively robust in terms of the influences of staff pre-service training, group size and ratios for process quality in centre-based settings, although more limited for home-based settings. Nevertheless, consideration of complex interactions among structural features is noted. Recent studies further advance knowledge on more fine-grained understandings of process quality.
Population ageing will lead to a smaller and older workforce. Looking forward, this means that growth will increasingly depend on ensuring the best use of Slovenian workers. This implies keeping older and experience workers longer in employment and better support difficult-to-employ low-skilled job-seekers. In addition, better labour allocation will enable workers to realise their productivity and wage potential. This requires a greater role for social partners in securing individual wages that better reflect efforts.
Als Antwort auf die COVID-19-Krise haben einige Steuerverwaltungen bereits innerstaatliche Leitlinien zu bestimmten Verrechnungspreisfolgen von COVID-19 veröffentlicht. Dies ist zwar ein wichtiger erster Schritt, um Erwartungen zu formulieren, Zusammenarbeit zu ermöglichen und für mehr Steuersicherheit zu sorgen; aufgrund der zweiseitigen Natur der Verrechnungspreise kann die Steuersicherheit in diesem Bereich jedoch nur mit einem gemeinsamen Ansatz erhöht werden. Dieses Dokument soll nun erläutern, wie der in den OECD-Verrechnungspreisleitlinien verankerte Fremdvergleichsgrundsatz auf die besonderen Sachverhalte und Herausforderungen anzuwenden ist, die sich aus der COVID-19-Pandemie ergeben. Dabei stehen vier Themen im Vordergrund: i) Vergleichbarkeitsanalyse, ii) Verluste und Aufteilung der COVID-19-spezifischen Kosten, iii) staatliche Hilfsprogramme und iv) Vorabverständigungen über die Verrechnungspreise (APA). Diese Leitlinien wurden von den 137 Mitgliedern des Inclusive Framework on BEPS von OECD und G20 erarbeitet und gebilligt. Einige Mitglieder des Inclusive Framework orientieren sich zwar am United Nations Practical Manual on Transfer Pricing for Developing Countries (2017), in Fällen, in denen das VN-Handbuch ähnliche Analyse- und Lösungsansätze vorsieht wie die OECD-Verrechnungspreisleitlinien, dürften sie jedoch auch für sie hilfreich sein.
The expansion of school-based sexuality education in most countries has taken place with a strong focus on conveying information about sexual and reproductive health. While this is important so too is addressing the actual social contexts where relationships develop and the normalcy of pleasurable sexual and affective encounters. This is not only aligned with the rights and best interest of children and adolescents, it is also a more effective way to improve sexual and reproductive health outcomes for all.
A positive and inclusive approach to sexuality education that addresses the actual social contexts of sex and relationships is assertive of the rights, dignity and safety of all individuals, irrespectively of their physical and intellectual ability, gender identity and expression, sexual orientation and sex characteristics.
This OECD working paper summarises leading practices for benefit sharing, workforce development, and business and governance development for and with Indigenous peoples. This work has been informed by the OECD’s programme of work on Linking Indigenous Communities with Regional Development, on Mining Regions and Cities and on Indigenous Employment and Skills Strategies. This working paper specifically aims to inform the Department of Infrastructure, Transport, Cities and Regional Development of Australia. The paper covers six key policy areas: i) Indigenous benefits funds and benefit sharing agreements, ii) Indigenous governance, iii) Indigenous entrepreneurship, iv) Indigenous education and training, v) Indigenous employment, and vi) Indigenous community programmes.
Total official support for sustainable development (TOSSD) is a new international statistical measure that provides a complete picture of all official resources and private finance mobilised by official interventions in support of sustainable development and the SDGs. It consists of two pillars: cross-border resources to developing countries (pillar I) and support to international public goods and global challenges (pillar II). To test the TOSSD concept and operationalise the reporting, a data survey was carried out in 2019 on 2017 resources. This paper analyses the main lessons learnt from the survey with the objective to help further refine the TOSSD Reporting Instructions and data collection process, and provide evidence to the international community about the usefulness, relevance and feasibility of TOSSD as a measurement framework for the SDG era.
TOSSD can respond to developing countries’ needs for information on external financing for sustainable development (pillar I), with estimates showing that between 18% and 26% of the volume of resources captured in the survey relate to additional data captured in TOSSD. TOSSD can fill a key information gap on financing for international public goods (IPGs) that support the achievement SDGs (pillar II). The TOSSD framework is appropriate for various providers of financing for sustainable development, including traditional providers, South-South Co-operation providers and multilateral institutions. To enhance the usefulness and relevance of TOSSD, efforts will need to continue to fill the remaining data gaps and enhance data quality.
This paper explores patterns of short-term labour demand weakening in Metropolitan Statistical Areas (MSAs) of the United States and the associated regional factors. The paper considers online job vacancy postings in February-June 2020. The data show that in larger MSAs, online job postings contracted more and the recovery was slower compared to smaller MSAs. Non-tradable service occupations, particularly those involving face-to-face interactions, contracted the most. The regression analysis reveals that different metropolitan characteristics were associated with the initial drop (February-April) and the recovery (May-June) in online job posting. The associations of online job postings with regional characteristics also differed between teleworkable (with high feasibility of performing work duties remotely) and non-teleworkable jobs. Cities with higher share of teleworkable employment had more online vacancy announcements during the first months of the COVID-19 pandemic.
As the pandemic hit, governments asked legislatures to set aside or modify established budget practices and adopt solutions to expedite emergency responses. At the same time COVID-19 presented serious operational challenges for legislatures. They responded with creative solutions for swift action while maintaining effective oversight and accountability. Legislatures in most OECD countries were also supported with information and analysis from independent parliamentary budget offices and fiscal councils
Public service leaders – senior civil servants who lead and improve major government functions – are at the heart of government effectiveness. They translate political direction into the policies and programmes that keep citizens healthy, safe, and economically productive. In order to do so, however, they need to have both the right skills and institutional support to deploy them effectively. This paper summarises insights from a recently completed project that addressed this challenge. First, the paper identifies four leadership capabilities that are necessary to respond to complex policy challenges: values-based leadership, open inclusion, organisational stewardship, and networked collaboration. Second, the paper outlines a model for assessing senior civil service systems, i.e. the policies, processes and tools needed to develop these capabilities and support leaders in using them. The paper concludes with recommendations to help governments take a systematic approach to the development and management of their public service leaders.
South Africa has turned towards tourism development to jump-start its weak economy. As tourism is a labour intensive sector that can also bring foreign currency into the country, the sector was identified as priority area by the South African government. Indeed, a doubling in international tourist arrivals from 1995 to 2017 was accompanied by a tripling of employment directly related to tourism. Despite South Africa’s rich and diverse natural and cultural assets, tourism development has been challenged by the country’s geographic location and perceived safety and security issues. As the country is a long-haul destination for many large source markets, good accessibility and international openness is key to expand international tourism, but current visa regulations put an administrative burden on potential tourists. While increasing tourist arrivals are necessary for tourism development, tourism growth has to be well planned and managed to be sustainable. Although the recent coronavirus (COVID-19) pandemic and resulting containment measures have hit the economy and in particular tourism, the sector has good potential to support the South African economy and contribute to employment growth post-COVID-19. Tourism provides job opportunities for different skills and experience levels allowing for greater social integration. For tourism development to translate into inclusive growth, the tourism industry needs to be integrated into the local economy and the benefits of tourism must spread geographically to also create economic opportunities in less travelled and less prosperous regions.
La "economía social" ha desempeñado un importante rol a la hora de abordar y mitigar los impactos a corto y largo plazo de la crisis de COVID-19 sobre la economía y la sociedad. A corto plazo, los agentes de la economía social han contribuido a la recuperación de la crisis aportando soluciones innovadoras destinadas a reforzar los servicios públicos como complemento de la acción gubernamental. A largo plazo, las organizaciones de economía social pueden contribuir a reconfigurar la economía posterior a la crisis promoviendo modelos económicos inclusivos y sostenibles. Apoyándose en décadas de experiencia, sus características específicas y sus principios subyacentes, la economía social puede inspirar modelos de innovación social y un sentido de propósito a las empresas que operan en la economía de mercado.
This brief explores the role of digital trade in helping to mitigate some of the consequences of COVID-19. It highlights how trade facilitates access to the goods and services that enable the digital transformation, and underscores the importance of digital trade and related policies in supporting economic activity and wellbeing during the crisis, as well as its role in sustaining economic recovery.
En una crisis sanitaria mundial sin precedentes, el comercio es una actividad esencial para salvar vidas y sostener los medios de subsistencia, y para que el comercio siga fluyendo, es crucial la cooperación internacional. Ante tal incertidumbre, cuatro son las medidas factibles: 1) aumentar la confianza en el comercio y los mercados mundiales; 2) mantener el flujo de las cadenas de suministro de productos imprescindibles como insumos de salud y alimentos; 3) evitar restricciones innecesarias a la exportación y otras barreras comerciales; y 4) incluso en plena crisis, pensar más allá de lo inmediato. El apoyo gubernamental de hoy debe prestarse de forma que sirva al interés público y no a intereses creados, y evitar futuras distorsiones del mercado de mañana. La OCDE apoya a los gobiernos mediante evidencia y análisis oportunos y objetivos que fundamenten las decisiones en materia de políticas públicas.
The paper examines the effects of three groups of factors (county economic structure, social/demographic attributes and geography) on employment growth and poverty change in US counties before and after the Great Recession. It finds that the industrial structure that facilitates inter-industry employee flows (“rewiring”) is of increasing importance post-Recession. In particular, this measure is associated with employment growth in under-performing counties suggesting that removing barriers to the flow of resources within lagging economies and increasing their adaptability potential might be a viable policy option.
Resource efficiency and circular economy policies aim at reducing resource intensity and use throughout the economy, thereby decreasing environmental impacts. Besides the environmental benefits expected from these policies, potential employment benefits are often emphasised, which would follow the anticipated structural changes in the economy from material-intensive to more labour-intensive activities. However, the size of the employment effect is still unclear and difficult to quantify. To date, the quantitative literature on the employment impacts of the circular economy is still scarce. This study is the first of its kind to review the available studies on this increasingly important policy issue.