United States, 2012.

Format:

Book

Contributor:

Organisation for Economic Co-operation and Development.

Series:

OECD Economic Surveys

OECD economic surveys, 0376-6438 ; v. 2012/13

OECD economic surveys : United States, 1995-3046

Language:

English

Subjects (All):

Technological innovations--United States.

Technological innovations.

United States--Economic conditions--2009-.

United States.

United States--Economic policy.

Physical Description:

1 online resource (122 p.)

Place of Publication:

Paris : OECD, 2012.

Language Note:

English

Summary:

OECD's 2012 survey of the US economy examines recent economic developments, policies and prospects and takes a more detailed look at labour market policies and strengthening innovation.

Contents:

Monetary policy continues to support the recovery in various waysTable 1. Main macroeconomic and financial indicators; Figure 3. The energy-related spike in inflation is projected to fade away; The general government budget deficit has started to decline; Figure 4. Fiscal deficits are large; Table 2. Federal budget deficits will fall sharply in the next two years if current law is not amended; Consolidation measures should be chosen to enhance long-term growth prospects and reduce inequality; Figure 5. Federal budget balances and debt held by the public under various consolidation scenarios

A longer-run concern is the slow growth in labour income for much of the populationProgress in education attainment is critical to securing future gains in income; Figure 9. Hourly compensation has lagged behind the gains in labour productivity; Figure 10. US tertiary attainment rates have stagnated in recent decades; Community colleges are a cost-effective means of raising human capital; Advance the skills of high school graduates with high-quality vocational training; Box 2. Recommendations for promoting job creation and earnings growth; Income inequality

Several factors have contributed to a rise in income inequalityFigure 11. Income inequality has increased to a high level; Education reform has the potential for a double dividend: higher growth and less inequality; Reforms to the tax system can help in reducing income inequality; Figure 12. The US tax system is effective in reducing inequality by OECD standards; but not the transfer system; Figure 13. A significant part of the income of the wealthy comes from capital, 2011; Table 3. Effective tax rates on real income vary widely across asset classes

Better targeting and simplifying of transfer programmes would help combat poverty

Notes:

"June 2012"--Cover.

Includes bibliographical references.

ISBN:

92-64-12794-1

OCLC:

809768227