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  • English  (26)
  • EUV Frankfurt  (26)
  • Bibliothek des Konservatismus
  • de la Maisonneuve, Christine  (26)
  • Licensed  (26)
  • 1
    Online Resource
    Online Resource
    A new macroeconomic measure of human capital exploiting PISA and PIAAC: Linking education policies to productivity (2022)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV048368154
    Format: 1 Online-Ressource (31 Seiten) , 21 x 28cm
    Series Statement: OECD Economics Department Working Papers no.1709
    Content: This paper provides a new measure of human capital using PISA and PIAAC surveys, and mean years of schooling. The new measure is a cohort-weighted average of past PISA scores (representing the quality of education) of the working age population and the corresponding mean years of schooling (representing the quantity of education). In contrast to the existing literature, the relative weights of each component are not imposed or calibrated but directly estimated. The paper finds that the elasticity of the stock of human capital with respect to the quality of education is three to four times larger than for the quantity of education. The new measure has a strong link to productivity with the potential for productivity gains being much greater from improvements in the quality than quantity component of human capital. The magnitude of these potential gains in MFP is comparable to a similarly standardised improvement in product market regulation, but the effects materialise with much longer lags. The paper demonstrates through the example of pre-primary education, how to simulate the impact of a particular reform to education policy on human capital and productivity
    Language: English
    DOI: 10.1787/a1046e2e-en
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 2
    Online Resource
    Online Resource
    Quantifying the macroeconomic impact of COVID-19-related school closures through the human capital channel (2022)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV048675026
    Format: 1 Online-Ressource (22 Seiten)
    Series Statement: OECD Economics Department Working Papers no.1729
    Content: This paper uses a new measure of human capital, which distinguishes both quality and quantity components, to estimate the long-term effect of the COVID-19-related school closures on aggregate productivity through the human capital channel. Productivity losses build up over time and are estimated to range between 0.4% and 2.1% after 45 years, for 12 weeks and 2 years of school closure, respectively. These results appear to be broadly consistent with earlier findings in the literature. Two opposing effects might influence these estimates. Online teaching would lower economic costs while learning losses in tertiary education (not considered here) would inflate them. Policies aimed at improving the quality of education and adult training will be needed to offset or, at least, alleviate the impact of the pandemic on human capital
    Language: English
    DOI: 10.1787/eea048c5-en
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 3
    Online Resource
    Online Resource
    Long-Term Budgetary Implications of Tax-Favoured Retirement Plans (2004)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047937664
    Format: 1 Online-Ressource (70 Seiten) , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers
    Content: This paper provides estimates of the implicit fiscal assets as well as of the evolution over time of fiscal costs and revenues related to tax-favoured retirement saving regimes in 17 OECD countries, taking into account current and future contributions, asset accumulation and withdrawals, all of which will be strongly influenced by future demographic developments. The main results show that in the case where tax incentives are assumed to lead essentially to saving diversion rather than creation, the net budgetary cost of tax-favoured schemes would remain large, despite the sharp rise in revenues collected from withdrawals as population ages. The paper shows that this cost would significantly be reduced if tax-favoured schemes succeed in promoting additional private savings. It then explores a number of policy options to maximize the amount of additional saving ...
    Language: English
    DOI: 10.1787/138080145732
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 4
    Online Resource
    Online Resource
    Sectoral Shifts in Europe and the United States : How They Affect Aggregate Labour Shares and the Properties of Wage Equations (2002)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047933386
    Format: 1 Online-Ressource (49 Seiten) , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers
    Content: This paper sheds light on the importance of aggregation bias in the analysis of wage shares developments over time and across countries. We focus on five European countries and the United States and show that the trend decline in the aggregate wage share observed in these countries over much of the 1980s and 1990s partly reflects changes in the sectoral composition of the economy. The application of a fixed-weight aggregation method changes the profile of the observed wage share in a significant way: in particular there is no longer sign of an overshooting of the wage share levels of the early-1970s. Error-correction wage equations based on the adjusted wage shares generally have a better regression fit and show long-run elasticities of real wages to unemployment that vary less across countries and are substantially lower than those obtained with observed shares. These results are broadly confirmed by wage regressions using sectoral data and the Pooled Mean Group estimator ...
    Language: English
    DOI: 10.1787/763626062738
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 5
    Online Resource
    Online Resource
    The Width of the Intra-European Economic Borders (2001)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047937554
    Format: 1 Online-Ressource (24 Seiten) , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers
    Content: This paper first provides a brief overview of the literature on market segmentation and then presents an empirical exercise that sheds more light on the significance of border effects across European countries. The literature suggests that integration in the EU goods and financial markets is typically more advanced than among the other OECD countries. On the other hand, integration in Europe remains significantly lower than that observed between regions within countries. The empirical exercise is based on a set of comparable price data of tradeable goods collected just before the launch of the single currency. The paper finds that for a given distance, crossing national borders adds significantly to the price differential across European cities. However, this border effect is substantially smaller than the one found in previous estimates focusing on European and North American cities, which were based on the comparison of much broader price indices such as the consumer price index ...
    Language: English
    DOI: 10.1787/281117327340
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 6
    Online Resource
    Online Resource
    Overheating in Small Euro Area Economies : Should Fiscal Policy React? (2002)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047932175
    Format: 1 Online-Ressource (45 Seiten) , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers
    Content: This paper reviews first the fiscal policy recommendations by the EU, the IMF and the OECD for Finland, Greece, Ireland, Luxembourg, the Netherlands, Portugal and Spain. All these countries had inflation above the euro area average in early 2001, some by a considerable margin. The fiscal policy prescriptions deviate little, the EU, the IMF and the OECD generally recommending an active use of fiscal policy. There are some exceptions, however. The next section examines indicators of excess demand in these countries. This is followed by a review of the factors that help or hinder market-based adjustment, including simulations to gauge their effect. Market-based adjustment to demand shocks depends critically on whether the effect of a lower real interest rate is strong relative to the loss in competitiveness, on the size of wealth effects, on wage and price setting behavior, on the supply response and on the strength of trade integration. Simulations suggest that market-based ...
    Language: English
    DOI: 10.1787/221680343230
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 7
    Online Resource
    Online Resource
    One Money, One Cycle?: Making Monetary Union a Smoother Ride (2004)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047935086
    Format: 1 Online-Ressource (35 Seiten) , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers
    Content: In recent years the euro area has shown less resilience to the negative and largely OECD-wide common shocks than the English-speaking countries, but most of the smaller euro area countries have fared better than the large ones. This paper reviews policy issues that are important in fostering a speedy adjustment to shocks. We argue that the small countries are well placed to adjust swiftly to asymmetric shocks, because they are well integrated with the rest of the area. An activist fiscal policy is not needed and also not powerful enough to smooth the cycle. However, asset bubbles are a cause of concern as their limited weight means that the common monetary policy is more likely to be out of line with their cyclical position. Large countries are less well placed to cope with shocks and sluggish adjustment can be expected. Reforms should focus on raising trade linkages via the completion of the single market, on improving wage and price flexibility and on making their housing markets ...
    Language: English
    DOI: 10.1787/321284370330
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 8
    Online Resource
    Online Resource
    The Impact of Ageing on Demand, Factor Markets and Growth (2005)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047937272
    Format: 1 Online-Ressource (100 Seiten) , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers
    Content: This paper examines the channels through which ageing will shape the main economic factors that in turn affect potential growth; identifies current policy settings that may in fact amplify the adverse impact of demographic trends; and sets out policy reforms that will work to temper the effects of ageing on growth. The paper begins with a brief discussion of demographic issues. The analysis first focuses on the impact of these trends on the future level and structure of consumption, which may affect aggregate saving and the structure of the economy, respectively. Then, it explores the main channels through which ageing affects the supply side of the economy following a production function approach: capital markets, labour markets and productivity. The empirical analysis focuses on a subset of large OECD countries with differing ageing patterns and generosity of pension systems. Using a simple general equilibrium overlapping generations model and considering alternative reform scenarios, some illustrative simulations are presented decomposing the effects of ageing on potential GDP per capita growth and economic convergence within OECD countries
    Language: English
    DOI: 10.1787/545827207132
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 9
    Online Resource
    Online Resource
    Enhancing administrative and fiscal decentralisation in the Czech Republic (2021)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047928567
    Format: 1 Online-Ressource (47 Seiten)
    Series Statement: OECD Economics Department Working Papers
    Content: There is considerable regional variation in incomes and poverty in the Czech Republic and gaps have grown over time. With the highest number of municipalities per head in the OECD, subnational government is very fragmented and the resulting lack of capacity at the local level reduces the quality of public services and impedes the uptake of effective development projects. This paper discusses various policy options to address the challenges faced by Czech subnational governments and proposes reforms to enhance their effectiveness. Mergers of municipalities would be an obvious way towards greater integration, but this may be politically difficult. Mandating inter-municipal co-operation over a legally defined set of public services can be an alternative way of improving efficiency and the quality of service delivery. Tweaking the tax sharing system to disincentivise small size of municipalities and to make subnational governments more autonomous could be steps towards higher efficiency. Improving and consolidating the delivery of education and health services at the local level is also needed in the context of demographic change
    Language: English
    DOI: 10.1787/c1d0c9bb-en
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 10
    Online Resource
    Online Resource
    The Problems and Prospects Faced by Pay-As-You-Go Pension Systems : A Case Study of Greece (1999)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047933158
    Format: 1 Online-Ressource (63 Seiten) , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers
    Content: Without further reforms, pay-as-you-go pension systems throughout most of continental Europe face unsustainable financial imbalances as their population ages. Though this paper describes the Greek pension system, which will face especially severe financial strains, it sheds light on the pension problems of other continental European countries, as these countries' systems share many common features. The main focus of the paper is on the factors of the Greek pay-as-you-go system which result in its future unsustainability. Exacerbating the deteriorating demographics, the system is characterised by very generous pensions relative to contributions for the pre-1993 generation of workers, as well as other incentives/provisions to retire early. To highlight these facets, the study provides simulations of the generosity of different categories of individual pensions under different scenarios as well as projections of aggregate pension expenditures and revenues. It concludes with options ...
    Language: English
    DOI: 10.1787/286670310381
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