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2002 OECD Economic Outlook, Volume 2002 Issue 2

image of OECD Economic Outlook, Volume 2002 Issue 2

Twice a year, the OECD Economic Outlook analyses the major trends that will mark the next two years. The present issue covers the outlook to the end of 2004 and examines the economic policies required to foster high and sustainable growth in member countries. Developments in selected major non-OECD economies are also evaluated in detail.

In addition to the themes featured regularly, this issue contains four analytical chapters addressing the following important questions: the deterioration in budgetary positions in most OECD countries, raising the labour force participation of older workers,  the benefits that OECD countries could achieve from undertaking reforms to promote product market competition, and inflation rates in some of the larger, slow-growing economies have not declined sufficiently to offset higher rates elsewhere in the euro area.

English French, German

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Denmark

Denmark is already enjoying a recovery in private consumption and stronger exports. The pace of activity is projected to pick up gradually as the international situation improves and firms regain sufficient confidence to increase investment and expand employment. But unemployment is already lower than its structural rate and labour shortages accompanied by accelerating wages could re-emerge as the expansion quickens.

The authorities continue to steer a prudent fiscal course, and the "tax freeze" should help to constrain public consumption growth in the face of strong upward pressures. Recent initiatives to get more people into work and reduce reliance on benefits are welcome, and further reforms to boost participation should be pursued.

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