By David Turner and Patrice Ollivaud, OECD Economics Department Assessing the damage from the Global Financial Crisis (GFC) is not straightforward, even with the benefit of hindsight provided by ten years of history, because the counter-factual of what might have happened in its absence is unknowable. However, a simplistic, but commonly adopted approach, of comparing … More The output cost of the global financial crisis
by Mauro Pisu and Tim Bulman, Greece Desk, Economics Department Greece is finally recovering from a deep depression. In 2017 GDP expanded by 1.3%, according to initial estimates, and is projected to accelerate to 2% in 2018 and 2.3% in 2019 (Figure 1). Labour market reforms have improved competitiveness and exports are leading the expansion. … More Achieving an inclusive and sustainable recovery in Greece
Mr. Jon Pareliussen, Economist, Sweden/Finland desk, Economics Department The Nordics are rightly renowned for being inclusive societies with low inequality compared to other OECD countries. However, some of the largest inequality increases over the past few decades took place in Sweden, Finland and Denmark. A newly released article building on previous OECD work discusses how market forces, … More A balancing act: Why inequality increased in the Nordics
By Boris Cournede, Senior Economist, Public Economics Division, OECD Economics Department Reforms that make economies more competitive have become a polarising subject. On one side, they are well established as a core staple of reform programmes: they are known to boost growth. On the opposite side, they often come up as lightning rods for criticism, … More What do pro-competitive policies imply for workers?
by Alain De Serres, Head of Division, and Peter Gal, Economist Structural Surveillance Division, Policy Studies Branch, OECD Economics Department In many OECD countries, the labour market has yet to recover the lost ground suffered in the aftermath of the financial crisis. In some of them, unemployment has been persistently high, resulting in a very … More Revisiting policy options for more jobs