The output cost of the global financial crisis

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

Maintaining Switzerland’s enviable living standards into the future

by Christine Lewis, Switzerland Desk, Economics Department Switzerland’s high living standards and quality of life are renowned. It has the third-highest level of GDP per capita in the OECD. Likewise, survey data show Swiss have the OECD’s second-highest rate of life satisfaction. Unemployment is low, including for young people. And income inequality (after taxes and … More Maintaining Switzerland’s enviable living standards into the future

What is the scope for public investment to lift long-term growth ?

by  Annabelle Mourougane, Jarmila Botev, Jean-Marc Fournier, Nigel Pain and Elena Rusticelli, OECD Economics Department Long-term rates are low in OECD countries, particularly in Japan, France and Germany. This opens up fiscal space and can justify any public investment projects with a positive rate of return. At the same time, infrastructure needs are sizeable, especially as … More What is the scope for public investment to lift long-term growth ?