Hungary 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. Hungary, 1995-3461 ; v. 2012/6 (Mar. 2012)

Language:

English

Subjects (All):

Hungary--Economic policy.

Hungary.

Hungary--Economic conditions.

Physical Description:

1 online resource (154 p.)

Place of Publication:

Paris : OECD, 2012.

Language Note:

English

Summary:

OECD's 2012 Economic Survey of Hungary reviews economic developments, prospects and policies and provides a series of policy recommendations. It also includes special chapters on the labour market and on the health care system.

Contents:

Table of contents; Basic statistics of Hungary, 2010; Executive summary; Assessment and recommendations; Hungary's economy is facing renewed market stress; Figure 1. Key indicators; Table 1. Short-term outlook; Stabilising the economy and boosting potential growth; Short-term policies to restore confidence and head off the risk of a prolonged downturn; Resuming fiscal consolidation; Figure 2. Net lending and fiscal consolidation; Figure 3. Average tax wedge for different income percentiles; Figure 4. General government deficit and elections

Facilitating household deleveraging without hurting banks is the key to putting growth on a sound footingFigure 5. Corporate and household lending; Appropriate measures to support the labour market and prevent an increase in structural joblessness; Figure 6. Beveridge curve, long-term unemployment and NAIRU; Box 1. Core recommendations on short-term policy priorities; Medium-term structural policies to foster potential output growth; Making debt sustainability less sensitive to macroeconomic shocks; Ensuring stable and affordable financing of the economy while minimising financial risks

Living standards can be boosted by lifting one of the lowest participation rates in the OECDFigure 7. Labour force participation rates in OECD countries; Figure 8. Employment rates of women and total fertility rates; Improving health outcomes and the system; Figure 9. Life expectancy at birth relative to national income and health expenditure; Box 2. Core recommendations on medium-term policy priorities; Bibliography; Annex A1. Progress in main structural reforms; Chapter 1. Ensuring debt sustainability amid strong economic uncertainty

A relatively favourable fiscal position despite the economic crisisThe cyclically-adjusted deficit improved markedly since the onset of the crisis...; Figure 1.1. General government financial balances; Box 1.1. A DSGE simulation of the macroeconomic impact of fiscal consolidation in Hungary; ... although the underlying fiscal position has significantly deteriorated recently; Figure 1.2. Cyclically adjusted and underlying fiscal balance; Box 1.2. Dissolution of the second pillar of the pension system; Figure 1.3. Composition of fiscal consolidation

The Széll Kálmán plan: a positive step towards a more sustainable fiscal consolidationTable 1.1. The Széll Kálmán plan; Long-term fiscal sustainability remains highly sensitive to economic shocks; The downward debt trajectory is highly sensitive to economic shocks; Figure 1.4. Characteristics of government debt; Figure 1.5. Stochastic general government debt simulations; Long-term fiscal sustainability gaps may have worsened recently; Table 1.2. Sustainability indicators; Table 1.3. Projected change in gross age-related expenditure/GDP ratio and contributing factors

Achieving more progress towards fiscal sustainability

Notes:

Description based upon print version of record.

Includes bibliographical references.

ISBN:

92-64-12727-5

OCLC:

784885980