How about starting with social dialogue and bargaining rights, investing in public services, fair trade and corporate accountability?
The OECD was quick to react to the Covid-19 crisis.
When launching a new platform on the crisis on 20 March, the Secretary General Angel Gurria called for a “sizeable, credible, internationally co-ordinated” response to deal with “the immediate public health emergency, to buffer the economic shock and develop a path towards recovery”. The OECD is well placed to support such actions, being a truly multi-disciplinary Organisation with no real equivalent internationally. …
With multilateralism in crisis the G20 Leaders’ Summit demonstrated welcome unity in the face of a global pandemic. At face value, their commitments are strong:
- Protect lives,
- Safeguard people’s jobs and incomes,
- Restore confidence, preserve financial stability, revive growth and recovery stronger,
- Minimize disruptions to trade and global supply chains,
- Provide help to all countries in need of assistance and
- Co-ordinate on public health and financial matters.
Importantly, these commitments come with a bold figure. Over $5 trillion dollars has been declared…
By Séverine Picard @Sevrine_Picard
“Taxes, taxes, taxes. All the rest is bullshit”. Last year, a discussion panel at the Davos World Economic Forum went viral after one of the panelists bemoaned the failure of the rich to pay their fair share of tax. Will the mood be any different this year?
The OECD has throughout 2019 worked intensively on a possible reform of international taxation rules for multinational corporations. The announced objective is to achieve a fairer corporate tax system, in an increasingly digitalised economy.
But what does fair taxation mean? So far, countries have been focusing on one dimension…
Organisational change through Choice, Co-creation and Consultation
by Anna Byhovskaya ( @AnnaByhovskaya )
What would happen to the way we live and work if Artificial Intelligence (AI) powered systems were run on minimum standards with inadequate supervision and consultation mechanisms? Such “AI let loose” scenario would most likely entail serious downside risks to the safety, the income and the well-being of many. Occupations and working conditions in particular would change dramatically. They already do. AI is spreading fast across different sectors. As we know, algorithms are heavily used on online platforms (urban transport, hospitality, etc.), …
Digital divides — ie the unequal access to ICT- has several dimensions, including regional, gender, income distribution. Resolving digital divides also matters in the context of the SDGs. The following briefing offers an overview the issues at stake and, from there, three key policy areas where government would need to take action: (i) public investment to close infrastructural gaps, (ii) targeting affordability through lowering of prices and (iii) developing skills sets and digital literacy.
Digital divides refer to the unequal access (or lack of access) to information and communication technology (ICT) across countries, regions or…
Back to Supply-Side Economics?
The key message from the OECD Economic Outlook published today, is for governments to engage “renewed” and “deeper” structural reforms — trade liberalisation and de-regulation, to raise business profitability over so-called “hurdle rates”, which is estimated at no less 14%, and thereby help redress the investment gap since the 2008 crisis.
In doing so, the Economic Outlook suggests an unwelcome shift in the OECD recommendations from demand side policy to a business friendly supply side policy agenda close to a classic “trickle down” strategy. This is not warranted.
The belief that reforms to make labour markets much more flexible are indispensable and highly necessary is deeply ingrained in the thinking of international economic institutions such as the European Commission, the OECD and the IMF. …
Under the title of ‘Decoupling of wages from productivity: Macro –Level facts”, OECD Economics Department recently published a paper describing how medium wages have been lagging behind productivity developments since 1995 in most OECD countries.
The paper splits up the total divergence between the evolution of medium wages and productivity into, on the one hand, a gap that measures the decline in the labour share (which is equal to the difference between the evolution of productivity and the change in average wages) and, on the other hand, a second gap that is due to the different dynamics…
The latest OECD Economic Survey of Portugal published today calls for labour market reforms but also admits to the fact that the country is suffering from “ the most unequal distributions of income in Europe. Recent efforts to step up the guaranteed minimum income scheme are welcome.”
One of the key messages from OECD preliminary assessment of labour market reforms in Portugal over the 2011- 2015 period, which was released two weeks before the country survey, is that unemployment is falling more sharply than predicted on the basis of pre-reform data.
Based on a regression explaining changes in quarterly unemployment…
The OECD in its latest Economic Outlook, published on the 28th of November, continues to point to the “low growth trap”, the global economy has found itself in over the past five years, but now predicts that growth could “gather some steam” (http://www.oecd.org/economy/outlook/economicoutlook.htm). Average growth in the OECD is projected to accelerate noticeably from 1.7% in 2016 to 2.3% in 2018 (see table below), with growth in the US in particular forecast to double from 1.5% in 2016 to 3% in 2018.
The main reason given for this assumption is that the incoming US administration would opt for a fiscal…
The Trade Union Advisory Committee (TUAC) is an international trade union organisation which has consultative status with the OECD and its various committees.