OECD Economic Surveys. Euro Area 2016

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development.

Language:

English

Subjects (All):

Regional economics--Europe.

Regional economics.

Physical Description:

1 online resource (78 pages)

Edition:

2016th ed.

Other Title:

Euro Area 2016

Place of Publication:

Paris : Organization for Economic Cooperation & Development, 2016.

Summary:

This 2016 OECD Economic Survey of the Euro Area examines recent economic developments, policies and prospects. The special chapter cover: Making public finances more growth and equity-friendly.

Contents:

Intro

Table of contents

Basic statistics of the euro area 2015

Abbreviations and acronyms

Executive summary

Monetary and financial policies to support the recovery

Euro area consumer prices

Restoring credit growth

Credit to non-financial corporations

Making public policy more supportive of inclusive growth

Euro area fiscal stance

Assessment and recommendations

Challenges facing Europe

Figure 1. GDP growth and long-term interest rate spreads

Figure 2. Eurobarometer: Public opinion of the European Union

Figure 3. Unemployment dispersion in the euro area

Figure 4. Investment is still far below 2007 levels

Figure 5. Well-being outcomes

Fostering recovery and rebalancing

Figure 6. Activity has gradually recovered but sharp cross-country divergence remains

Figure 7. Debt of non-financial corporations in the euro area1

Figure 8. Indicators of external balance

Figure 9. Export performance and competitiveness

Figure 10. Developments in unemployment and poverty

Table 1. Macroeconomic indicators and projections

Keeping monetary policy accommodative

Figure 11. Interest rate developments

Figure 12. Central banks' total liabilities

Figure 13. Financial indicators

Figure 14. Inflation developments

Figure 15. Credit developments and financial fragmentation

Figure 16. House prices

Improving monetary transmission by resolving non-performing loans

Figure 17. Non-performing loans

Figure 18. Non-performing loans net of provisions to capital

Completing banking union

Making public finances more growth and equity-friendly

The crisis has taken a heavy toll on public finances, calling for reforms at European and national level

Figure 19. Evolution of gross public debt in the euro area

Figure 20. The fiscal stance in the euro area.

Figure 21. Post-crisis fiscal consolidation episodes: Composition and labour tax wedge developments

Reforming European fiscal governance to promote collective and inclusive growth

Reinforcing national budgetary frameworks

Figure 22. Intensity of budgetary reform in euro area countries

Leveraging the impact of EU investment policies

Figure 23. European Union budget: Structure of expenditure

Figure 24. European structural and investment funds as a share of public investment

Improving public investment governance

Bibliography

Annex. Progress in structural reform

Thematic chapter

Chapter 1. Making public finances more growth and equity-friendly

There is strong potential to improve growth and equity through better public finances

Public finances matter for growth and equity through multiple channels

The crisis has taken a heavy toll on public finances

Figure 1.1. Evolution of gross public debt in the euro area and the United States

Figure 1.2. The fiscal stance in the euro area and the United States

Figure 1.3. Post-crisis fiscal consolidation episodes: Change in the underlying primary balance

Figure 1.4. Fiscal consolidation and debt dynamics: Projections and outcomes

Figure 1.5. Post-crisis fiscal consolidation episodes: Contributions from revenue and expenditure

Table 1.1. Post-crisis fiscal consolidation episodes: Cumulative change in revenue and expenditure items

Figure 1.6. Change in the labour tax wedge over the post-crisis fiscal consolidation episode

Figure 1.7. Income redistribution due to fiscal variables

Reforms at both European and national levels are needed

Improving fiscal governance to promote inclusive growth

Reforming European fiscal rules

Figure 1.8. Fiscal policy and cyclical conditions in the euro area.

Figure 1.9. Extension of deadlines for eliminating excessive deficits

Figure 1.10. Intensity of budgetary reform in euro area countries

Figure 1.11. Remit and resources of independent fiscal institutions: Selected features

Policies towards more effective public investment

Making EU budget expenditure more growth-friendly

Figure 1.12. European Union budget: Structure of expenditure

European regional policy: Making the best of conditionality requirements

Figure 1.13. European structural and investment fund allocations for 2014-20

Figure 1.14. European structural and investment funds as a share of public investment

Leveraging private sector investment

Figure 1.15. Share of sub-national governments in total public investment

Recommendations to make public finances more growth and equity-friendly

Bibliography.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-25636-9

OCLC:

1024276000