OECD economic surveys : Switzerland 1999 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, issuing body.

Series:

OECD Economic Surveys: Switzerland

Language:

English

Subjects (All):

Economic history.

Switzerland--Economic conditions.

Switzerland.

Physical Description:

1 online resource (178 pages)

Edition:

1st ed.

Place of Publication:

Paris, France : OECD Publishing, [1999]

Language Note:

English

Summary:

Assessment and recommendations I. Recent trends and short-term prospects -The economy has resumed growth -Robust domestic demand -Rapidly falling unemployment -A stable price level -A large current external surplus -The outlook to 2000 II. Macroeconomic policies -Monetary policy -Fiscal policy III. Progress in structural reform -Introduction -Labour market -Product market competition -European integration IV. Tax reform -Forces shaping tax policy -Main features of the system -Main issues for strengthening the system -Swiss tax arrangements in an international setting -Concluding remarks Bibliography Annexes -I. Table A1. Main features of Switzerland's tax system -II. Calendar of main economic events Statistical annex and structural indicators.

Contents:

Intro

Table of contents

Assessment and recommendations

I. Recent trends and short-term prospects

The economy has resumed growth

Figure 1. Key aspects of economic activity

Figure 2. Contribution to real GDP growth

Figure 3. Potential output and output gap

Robust domestic demand

Table 1. Supply and use of current output

Rapidly falling unemployment

Table 2. Employment trends

Table 3. Level and structure of unemployment

Figure 4. Unemployment and vacancies

A stable price level

Table 4. Price trends

Figure 5. Selected components of inflation

Figure 6. Consumer prices: an international comparison

A large current external surplus

Figure 7. Foreign trade indicators

Figure 8. International competitiveness and trade

Table 5. Current external account

The outlook to 2000

Figure 9. Indicators of economic activity

Table 6. Short-term projections

II. Macroeconomic policies

Monetary policy

Easing monetary conditions

Figure 10. The adjusted monetary base

Broader monetary aggregates

Table 7. Monetary aggregates

Other indicators of monetary conditions

Figure 11. Interest rates

Figure 12. Exchange rates

Figure 13. Monetary conditions index (MCI)

Figure 14. Taylor rule

The need for a new concept

Fiscal policy

Background

Figure 15. Budget balances

Figure 16. Cyclically-adjusted budget balance

Figure 17. Government receipts and expenditures

Recent developments

Confederation

Table 8. Confederation budget

Cantons, communes and social security

Table 9. Government accounts

1999 Budgets

Budget Objective 2001, the 1998 Stabilisation Programme and the 1999 Medium-Term Financial Plan

Table 10. The Financial Plan 2000-2002

Government debt developments.

Figure 18. Gross government debt

Assessment

III. Progress in structural reform

Introduction

Figure 19. GDP per capita

Figure 20. Total factor productivity in the business sector: an international comparison

Table 11. Implementing structural reform: an overview

Labour market

Reform of unemployment insurance

Figure 21. International comparison of unemployment rates

Figure 22.Unemployment and maximum duration of unemployment benefit entitlements

Labour force skills and competences

Working-time flexibility

Product market competition

The new Competition Law

Cartels and dominant positions

Mergers and acquisitions

The Domestic Market Act

Infrastructure

Telecommunication

Table 12. Business telecommunications charges

Figure 23.An international comparison of performance indicators in telecommunications

Electricity

Figure 24. Electricity prices in industry

Gas

The Post Office

The railway system

Agriculture

Figure 25.An international comparison of producer support estimates

Figure 26.An international comparison of consumer support estimates

European integration

IV. Tax reform

Forces shaping tax policy

A highly decentralised federal structure

Table 13. Tax revenues by level of government

The tradition of direct democracy

Pressures on government expenditure

Table 14. Trends in government social spending

Figure 27. Dependency ratios

Deepening globalisation and Switzerland's role in European economic integration

International economic co-operation

Main features of the system

Level and structure of taxation

Table 15. Total tax revenues

Table 16. The level and structure of taxation by type

Table 17. The structure of taxation by type of tax

Main taxes by level of government.

Table 18. Tax revenues of the Confederation, the cantons and the communes

The main taxes

Personal income tax

Table 19. Marginal tax rates combining all levels of government, for the single taxpayer

Taxes on personal property and wealth

Corporate taxes

VAT

Table 20. Productivity of value added taxes

Table 21. Trends in value added taxes - tax parameters

Tax harmonisation law (la loi sur l'harmonisation des impôts)

Tax administration and enforcement

Regional differences in tax burdens

Table 22. Incomes and global tax burdens by canton

Table 23. Fiscal burden indexes on households and companies

Figure 28. Fiscal burden indexes on households and companies

Fiscal equalisation

Progressiveness of tax system

Table 24. Progressiveness: average production worker versus top bracket marginal tax rates

Figure 29. Marginal tax rates - selected countries, 1996

Table 25. Gini coefficients for selected definitions of income

Labour tax wedges

Figure 30. Marginal total labour tax wedges - selected countries, 1996

Capital tax wedges

Table 26. Marginal effective tax rates in manufacturing - selected cantons

Table 27. Marginal effective tax wedges in manufacturing: selected OECD countries

Average effective tax rates

Main issues for strengthening the system

Reduce tax privileges for savings with pension funds and insurance companies

Box 1. Tax treatment of savings with pension funds and life insurance companies

Table 28. Financial assets of pension funds

Table 29. Financial assets of insurance companies

Figure 31. Share of owner-occupied housing in selected OECD countries

Table 30. Portfolios of pension funds

Limit personal interest deductions to declared capital income

Reform taxation of owner-occupied housing

Phase out personal net wealth taxes.

Replace existing corporate taxes with a flat-rate tax on corporate profits

Environmental tax reforms

Figure 32.Revenues from environmentally related tax-bases ñ selected OECD countries

Swiss tax arrangements in an international setting

Vulnerability of Swiss tax bases to international base mobility

Table 31. Corporate, property and ÿnancial taxation

Switzerland as a destination for some internationally mobile tax bases

Concluding remarks

Notes

Bibliography

Annex I. Table A1. Main features of Switzerland's tax system

Annex II. Calendar of main economic events

Statistical annex and structural indicators

Table A. Selected background statistics

Table B. Gross national product

Table C. Gross national product

Table D. Producer and import prices

Table E. Money supply

Table F. Interest rates and capital markets

Table G. Foreign trade by area

Table H. Foreign trade by commodity group

Table I. Balance of payments

Table J. Labour market: structural and institutional characteristics

Table K. The structure of taxation

Table L. Interest rate margins in banking

Box

Tables

Table 15. Total tax revenues.

Table 16. The level and structure of taxation by type

Table 18. Tax revenues of the Confederation, the cantons and the communes

Figures

Figure 18. Gross government debt

Figure 19. GDP per capita.

Figure 20. Total factor productivity in the business sector: an international comparison.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-16734-X

OCLC:

1132391784