OECD Economic Outlook, Volume 2008 Issue 2

This December 2008 edition of the OECD Economic Outlook presents OECD's first set of economic analysis and projections since the financial crisis began. As always, it includes and overall assessment as well as individual country assessments for OECD and major non-OECD economies, and an extensive statistical annex. This edition's special feature covers responses to inflation shocks.
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New Zealand
New Zealand has entered recession ahead of other OECD countries, a victim of simultaneous domestic and foreign shocks. The outlook remains subdued because the large macroeconomic imbalances built up over the past decade -- inflation, housing overvaluation, high household debt and a huge current account deficit -- will take some time to unwind.
Also available in: French
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