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Two objectives of budgetary policy are an efficient allocation of resources subject to a fair distribution of income and a stable macroeconomic environment. The OECD pursues empirical analysis to underpin budgetary policy recommendations in both these areas.
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23-Dec-2008
In this working paper, we decompose fiscal policy in three components: i) responsiveness, ii) persistence and iii) discretion. Using a sample of 132 countries, our results point out that fiscal policy tends to be more persistent than responding to output variations.
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18-Dec-2008
This paper analyses how different tax policies can affect investment and productivity. To address this question the paper uses industry-level data from a set of OECD countries and examines whether different industries are affected differently by taxation.
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18-Dec-2008
The financial crisis and economic downturn are going to weigh on fiscal positions in OECD countries over the short to medium-term, both through the operation of automatic stabilisers and the enactment of discretionary fiscal stimulus packages.
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17-Dec-2008
Korea has been hard-hit by the global financial crisis. In addition, it faces a number of medium-term challenges to sustaining growth, notably tax reform, enhancing service sector productivity and reforming the labour market and education system.
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09-Dec-2008
The US economy is facing a serious financial crisis and is in recession. Measures are being taken to combat the financial crisis and support the economy. Reforms are needed to strengthen financial market regulation and extend health insurance coverage.
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