OECD economic surveys Luxembourg. 2012.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development Staff, Corporate Author.

Contributor:

Organisation for Economic Co-operation and Development.

Series:

OECD Economic Surveys

OECD economic surveys, 0376-6438

OECD economic surveys. Luxembourg, 1995-3720 ; 2012

Language:

English

Subjects (All):

Computer software--Congresses.

Computer software -- Congresses.

Database management--Congresses.

Database management -- Congresses.

Luxembourg--Economic conditions.

Luxembourg.

Luxembourg--Economic policy.

Physical Description:

90 p. : col. ill.

Edition:

1st ed.

Place of Publication:

[Paris] : OECD, 2012.

Language Note:

English

Summary:

OECD's 2012 Economic Survey of Luxembourg examines recent economic developments, policy and prospects and includes more detailed analyses of social cohesion and green growth.

Contents:

Intro

Table of contents

Basic statistics of Luxembourg, 2011

Executive summary

Box 1. Key Recommendations

Assessment and recommendations

The economy has slowed and faces a number of risks

Table 1. Key macroeconomic developments

The financial sector is weathering the crisis

Table 2. Key financial developments

Changes in international regulation will shape the development of the financial sector

Government expenditure is not on a sustainable path

Figure 1. The fiscal deficit reflects a high level of public spending

Figure 2. The demographic structure of the workforce implies rapid aging

Figure 3. Pension expenditures projections are large (2010­60)

Enhancing the efficiency of public spending would improve the sustainability of the social system

Box 2. Main recommendations on fiscal sustainability and financial regulation

Better structural policies to sustain living standards, growth and sectoral diversification

Competition can be strengthened further, although competition oversight is improving

Figure 4. Product market regulation remains restrictive despite reforms (2008)

A more adaptable and competitive labour market

Figure 5. The minimum wage as a percentage of average monthly earnings

Box 3. Main recommendations on raising productivity, labour market performance, and social cohesion

Reforming education for those who need it most is central to maintaining high living standards and improving social cohesion

Figure 6. Educational achievement

Figure 7. Socio­economically advantaged students attend schools with higher level teachers

Box 4. Main recommendations to improve social cohesion with education outcomes

Social outcomes could be improved by tackling unemployment traps and better targeting of social support

Figure 8. Relative poverty is drifting up.

Figure 9. Total public social expenditures and inequality reduction

Box 5. Main recommendations on social cohesion and the transfer system

More sustainable and greener growth

Figure 10. Population and employment developments

Figure 11. Greenhouse gas emissions

Figure 12. Sealed surface area and population density across different countries

Box 6. Main recommendations on green growth and environmental sustainability

Bibliography

Annex A.1. Progress in structural reform

Chapter 1. Strengthening social cohesion: Making efficiency and equity go hand in hand

Inequality has risen despite high taxes and transfers

Figure 1.1. Employees in the economy by origins

The gap between the top and lower decile of disposable income has increased

Box 1.1. Indicators to measure inequality and poverty in Luxembourg

Figure 1.2. The gap between top and low incomes is widening

Relative poverty is also increasing

Figure 1.3. Relative poverty has been rising

Figure 1.4. Relative poverty rates depend on citizenship

Both market income inequality and its redistribution are high by OECD standards

Figure 1.5. An increase of the size of the financial sector increases inequality

Figure 1.6. The minimum wage as a percentage of average monthly earnings

Figure 1.7. Redistribution substantially reduces income inequalities

Figure 1.8. Relative poverty rate is close to the European Union average

The large transfer system is poorly targeted

Most of transfers and tax rebates could be better targeted

Table 1.1. Cash transfers

Figure 1.9. The progressivity index of cash transfers is low

Box 1.2. Overview of the welfare system

Figure 1.10. The RMG reduces the incentive to work

Figure 1.11. Large family allowances have a weak correlation with fertility

Figure 1.12. Property wealth and disposable income.

Housing policy does little to reduce housing shortage as the supply side is rigid

Box 1.3. Social housing: attribution and rent computation

Public higher education spending is not targeted to disadvantaged families

Insufficient work incentives within the minimum income scheme

Figure 1.13. Income levels provided by cash minimum­income benefits

Box 1.4. What can be learnt from the introduction of the RSA in France?

Figure 1.14. Smoothing the RMG scheme

Figure 1.15. Participation rates are low for the youngest and the oldest

Figure 1.16. Incapacity related benefits are high

The underperforming education system does little to address inequality

Figure 1.17. Socio­economic background and education performance

Figure 1.18. Disadvantaged students are particularly vulnerable in Luxembourg

The large immigrant community tends to fall behind

The trilingual system does not provide enough language support for vulnerable groups

Remedial classes are too few

Figure 1.19. Average reading performance across mother's education

Resources are not targeted to more socio­economically disadvantaged school

Figure 1.20. Socio­economically advantaged students attend schools with more resources

Figure 1.21. The performance of schools in more advantaged areas tends to be better

Early tracking exacerbates inequality

Figure 1.22. First age of selection in the education system

Low graduation rates affect more the disadvantaged

Figure 1.23. Time to complete upper secondary programmes and graduation rates

Uneven educational outcomes also affect transition to the labour market

Figure 1.24. Percentage­point difference between youth and overall unemployment rates

Box 1.5. Recommendations on social inclusion and inequality

Chapter 2. Greening growth.

Luxembourg has rapidly reinforced in its position as an economic centre

Figure 2.1. Employment developments: residents and cross­border workers

Figure 2.2. GHG emissions per capita, OECD countries 2000 and 2010

Figure 2.3. Greenhouse gas emissions

Figure 2.4. Sealed surface area and population density across different countries

Transport investment and pricing

Fuel taxes are among lowest in Europe generating high fuel sales to non­residents

Figure 2.5. Diesel and petrol prices and taxes across OECD countries

Figure 2.6. NO2 and ground­level ozone concentrations in Luxembourg

Figure 2.7. Cars per person across OECD countries

Figure 2.8. Modal split of trips to work - different economic centres

Fuel taxes do not cover environmental costs

Figure 2.9. Implicit diesel and petrol prices after adjusting for externalities

Table 2.1. Implicit carbon prices across different fuels

The share of public transport remains modest

Congestion pricing is not used

Urban planning and housing policies to control urban sprawl

Figure 2.10. Population density per km2 in 1981 and population growth between 1981 and 2011

Figure 2.11. Housing area available per person across different countries

Figure 2.12. Share of home ownership across different countries (2009)

Figure 2.13. Population growth in priority areas for urban development and elsewhere (2000­12)

Plans to reduce urban sprawl are behind target

Box 2.1. Spatial Planning Reforms

Figure 2.14. Map of Luxembourg with neighbouring regions indicating average prices

Table 2.2. Average price for an apartment per m2 (2007­09)

Figure 2.15. Residential property prices in Luxembourg and other countries

The housing market is affected by inflexible supply

Figure 2.16. Share of social housing across OECD countries (2009).

Water infrastructure and management

Box 2.2. Recommendations to promote greener growth

Bibliography.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-18887-8

OCLC:

827207956