The Narrow Path – The Italian View

by the Italian Ministry of Economy and Finance, Pier Carlo Padoan, Italy’s Minister of Finance, was OECD Deputy Secretary-General and Chief Economist from 2007-2014. Growth in Italy is taking place more slowly than in other Eurozone countries. Public debate about this fact offers several explanations but rarely juxtaposes long-period trends with recent policies. It is common … More The Narrow Path – The Italian View

Statistical Insights: Purchasing Power Parities – not only about Big Macs

by Pierre-Alain Pionnier, Head of CLIs, Prices & Environmental Accounts Section, Francette Koechlin, Head of Prices & PPPs Unit, and Sophie Bournot, Statistician for PPPs, OECD Statistics Directorate All travellers know that the prices of goods and services vary between countries. In order to capture these price differences, Eurostat and the OECD collect data on … More Statistical Insights: Purchasing Power Parities – not only about Big Macs

Embracing digitalisation to boost Austria’s growth potential

by Rauf Gonenc and Volker Ziemann, Austria Desk, OECD Economics Department. Digitalisation will redesign production processes and alter relationships between work and leisure, capital and labour, the rich and the poor, the skilled and the unskilled. It creates opportunities to boost inclusive growth and well-being by raising productivity, enhancing private and public services, and democratising … More Embracing digitalisation to boost Austria’s growth potential

Growth is picking up in Austria but fundamentals need to be strengthened

by Rauf Gonenc and Volker Ziemann,  Austria Desk, OECD Economics Department After several years of subdued growth, economic output accelerated in 2016 supported by a tax reform that entered into force in 2015-16, and more recently a pick-up in international trade. The upturn has improved fiscal balances, and the public debt ratio, though still high, … More Growth is picking up in Austria but fundamentals need to be strengthened

Boosting living standards of all Argentinians

By Jens Arnold and Alberto González Pandiella, Argentina Desk, OECD Economics Department. Following years of unsustainable economic policies, Argentina has recently undertaken bold reforms and a turnaround in policies that has helped to avoid another crisis and stabilise the economy (OECD, 2017).  Nevetheless, the work is far from being finished. Many challenges still lie ahead. … More Boosting living standards of all Argentinians

Harnessing skills for more inclusive growth

by Jan Strasky, Luxembourg Desk, OECD Economics Department. Strong economic performance, comfortable fiscal situation and well-run institutions make life good for most residents of Luxembourg. Average earnings are the highest in the OECD, while labour market insecurity and income inequality are low. Yet, the development of the digital economy is constantly expanding the domain of … More Harnessing skills for more inclusive growth

Collective bargaining in Iceland: sharing the spoils without spoiling the shares

by Urban Sila, Iceland Desk, OECD Economics Department Icelandic labour market is flexible with high labour market participation, low unemployment, and labour supply dynamically responds to the economic cycle. Iceland is the most highly unionised country in the OECD and wage bargaining is a cornerstone of the economy. Strong unions have contributed to very low … More Collective bargaining in Iceland: sharing the spoils without spoiling the shares

New Zealand has recently enjoyed strong economic growth, but housing and population ageing pose challenges

by David Carey, New Zealand Desk, OECD Economics Department. New Zealand enjoyed strong economic growth during 2016, driven by high net inward migration, solid construction activity, booming tourism and supportive monetary policy, although in per capita terms growth has been more in line with that in other advanced economies. The terms of trade have rebounded … More New Zealand has recently enjoyed strong economic growth, but housing and population ageing pose challenges

Lifting New Zealand’s game on productivity

by Andrew Barker, New Zealand Desk, OECD Economics Department Productivity growth will be the main driver of global economic growth and prosperity over the coming decades. For New Zealand, this represents both a challenge and an opportunity, as NZ productivity is below that of leading OECD countries (Figure 1). This problem is not new, and … More Lifting New Zealand’s game on productivity

The downsides of New Zealand’s inflated house prices

by David Carey and Andrew Barker, New Zealand Desk, OECD Economics Department In real terms, house prices in New Zealand increased more than in any other OECD country between 2010 and 2016 (Figure 1). While house price increases have supported economic growth through wealth-induced consumption growth, they have also created a number of social and … More The downsides of New Zealand’s inflated house prices