OECD Economic Outlook: June No. 75 - Volume 2004 Issue 1 (Complete Edition - ISBN 9264016139)

Source: OECD Economic Outlook, Volume 2004, Number 1, May 2004 , pp. i-284(285)

Publisher: OECD - Organisation for Economic Co-operation and Development

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Abstract:

Twice a year, the OECD Economic Outlook analyses the major trends that will mark the next two years. The present issue covers the outlook to the end of 2005 and examines the economic policies required to foster high and sustainable growth in member countries. Developments in major non-OECD economies are also evaluated. Together with a wide range of cross-country statistics, the Outlook provides a unique tool to keep abreast of world economic developments.

In addition to the themes featured regularly, this issue contains four analytical chapters addressing the following questions:

· Do differences in housing and mortgages market arrangements help explain the different degrees of resilience shown by OECD economies during the global downturn? What types of reforms could at the same time boost efficiency in these markets and enhance such resilience?

· What are the mechanisms through which the large US external deficit could adjust? And what implications would such adjustments have for the United States and the rest of the world?

· To what extent have stock market gyrations and recourse to "one-off" measures distorted traditional measures of the fiscal stance? How can fiscal indicators be adjusted to control for such non-cyclical factors?

· How could structural reforms enhance income convergence in Central European countries after their accession to the European Union? What could be done to strengthen labour utilisation and boost productivity growth in the future?

Document Type: Review article

Publication date: 2004-05-01