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As a result of reforms and financial sector development, the People’s Bank of China (PBoC) now exerts significant control over money market interest rates. With money market conditions increasingly influencing effective commercial lending rates, the...
The extent of competition in product markets is an important determinant of economic growth in both developed and developing countries. This paper uses the 2008 vintage of the OECD indicators of product market regulation to assess the extent to which...
This paper sets out to analyse the need for better “transparency tools” which inform university stakeholders about the quality of universities. First, we give an overview of what we understand by the concept of transparency tools and those that are ...
Structural changes and budget constraints are challenging German higher education institutions to change their management practices. This exploratory analysis discusses how institutions are increasing their collaborative efforts – and are doing so ...
The impact of the financial crisis on higher education has been considerable, and its effects are continuing. These effects can be discerned in a number of ways; but whereas both developed and developing countries are affected, they can be affected ...
Technological innovation can lower the cost of achieving environmental objectives. As such, understanding the linkages between environmental policy and technological innovation in achieving environmental objectives is important. This is particularly...
In this paper we provide a comprehensive evaluation of the euro area GDP growth and unemployment rate forecasts collected in the quarterly ECB Survey of Professional Forecasters (SPF) over the period 1999Q1–2008Q4. Our results suggest that while SPF ...
I use three non-linear econometric models to identify and analyze business cycles in the Peruvian economy for the period 1980:1-2008:4. The models are the Smooth Transition Autoregressive (STAR) model suggested by Teräsvirta (1994), the extended ...
This paper assesses recent patterns of intergenerational social mobility across OECD countries and examines the role that public policies can play. It shows that the relationship between parental or socio-economic background and offspring ...
The aim of this paper is to assess whether the use of ICT has an impact on student performances as measured in the OECD Programme for International Student Assessment (PISA) 2006. After controlling for observable students’ characteristics and ...
A survey of the literature on asset price impacts on the real economy shows a much wider range of work on consumption and related wealth effects than on investment. The existence of wealth effects on consumption per se is little contested, but there ...
Turkey is recovering from its most severe recession in several decades. The massive contraction in GDP is largely explained by the unprecedented collapse in foreign demand, which was aggravated in Turkey by negative confidence effects and structural...
This paper analyses the factors influencing the level and volatility of real house prices in a panel of OECD countries over the period 1980-2005. Results suggest that real house prices tend to rise proportionally with real household incomes, while...
There is growing interest in the role of independent fiscal institutions, or fiscal councils, in helping to improve fiscal performance. This paper provides some guidance on the scope for improving fiscal performance through fiscal councils based on...
This paper describes the dynamics of the external positions of euro area countries since the formation of EMU. While external imbalances have been the main focus in recent times, current account balances can only be properly interpreted in the...
The process of fiscal consolidation and the need to step up the poor long term economic performance provide an opportunity to implement tax measures to improve efficiency and rebalance the economy. As consolidation progresses, switching taxes from...
Increasing international mobility makes international comparable data even more important, to depict global migration patterns and its characteristics, not only in receiving countries but also in origin countries. This paper provides a detailed...
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Some euro area countries accumulated large and persistent external imbalances during the upswing, revealing important weaknesses in the macroeconomic management of the monetary union. Greece, Ireland, Portugal and Spain ran large current account...
The euro area financial system took excessive risks during the global credit boom, which in some countries led to an unsustainable increase in credit, higher asset prices and housing booms. This process helped to fuel large imbalances within the euro...
This paper considers the increase in current account imbalances in euro area countries since the early 1990s. While the euro area as a whole has remained relatively close to external balance, the current account balances of individual countries have...
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