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Twice a year, the OECD Economic Outlook analyses the major trends and examines the economic policies required to foster high and sustainable growth in member countries. Developments in major non-OECD economies are also evaluated. The present issue covers the outlook to end-2008. Together with a wide range of cross-country statistics, the Outlook provides a unique tool to keep abreast of world economic developments. In addition to the themes featured regularly, this issue contains a special chapter entitled Has the rise in debt made households more vulnerable? , which addresses the following qu

Economic activity. --- Economic history -- 1945- -- Statistics -- Periodicals. --- Economic policy -- Periodicals. --- Economics -- Periodicals. --- OECD countries --- Economic conditions --- OECD member countries --- Organisation for Economic Co-operation and Development countries

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The paper uses Google mobility data to identify the determinants of social distancing during the 2020 COVID-19 outbreak. The findings for the United States indicate that much of the decrease in mobility is voluntary, driven by the number of COVID-19 cases and proxying for greater awareness of risk. Non-pharmaceutical interventions such as closing nonessential businesses, sheltering in place, and school closings are also effective, although with a total contribution dwarfed by the voluntary actions. This suggests that much social distancing will happen regardless of the presence of non-pharmaceutical interventions and that restrictions may often function more like a coordinating device among increasingly predisposed individuals than repressive measures per se. These results are consistent across country income groups, with only the poorest countries showing limited effect of non-pharmaceutical interventions and no voluntary component, consistent with resistance to abandon sources of livelihood. The paper also confirms the direct impact of the voluntary component on economic activity, by showing that the majority of the fall in restaurant reservations in the United States and movie spending in Sweden occurred before the imposition of any non-pharmaceutical interventions. Widespread voluntary de-mobilization implies that releasing constraints may not yield a V-shaped recovery if the reduction in COVID risk is not credible.

Coronavirus --- COVID-19 --- Economic Activity --- Economic Crisis --- Google Mobility Data --- ICT Data and Statistics --- Livelihoods --- Mobility --- Pandemic Response --- Public Health Promotion --- Risk Aversion --- Social Distancing --- Voluntary De-Mobilization

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Trade is understood to have taken place throughout much of recorded history. From those early beginnings, and through all the stumbling blocks, mistakes, and moments of inspiration over the centuries, the development of trade has contributed to the modern, globalized world in which we live. The increasing economic, social, and political importance of trade spawned a phenomenon called the multinational organization. These organizations are capable of exercising extreme power not only in individual countries but globally for they are a source of revenue, employment, and economic activity. However, these organizations have a national home where profits will ultimately have to come, and in their effort to maximize the amount repatriated, they often engage in internal-pricing practices, known more commonly as transfer pricing, which enrage either their host or home countries, provoking them to monitor and capriciously modify transfer prices as a way of protecting their national income.

Transfer pricing. --- added value --- conflict of interest --- costs --- economic activity --- government revenue --- multinational organizations --- performance measurement --- pricing --- profit --- revenue --- risk and return --- stakeholders --- trade --- transfer pricing

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We discuss regional disparities in economic performance and living standards. We first set out some key facts, and provide a conceptual framework to help analyze whether such disparities are efficient, or instead reflect market and/or policy failures. We examine whether policy attempts to reduce regional disparities necessarily involve a trade-off between equity and efficiency. We then investigate whether policymakers should focus on boosting the economic performance of lagging regions—or, conversely, accept the presence of regional disparities, and instead assist households in lagging regions through transfer payments, investments in education, health, and other basic services, and by facilitating out-migration.

Infrastructure --- Labor --- Macroeconomics --- Production and Operations Management --- Regional Economic Activity: Growth, Development, and Changes --- Size and Spatial Distributions of Regional Economic Activity --- Regional Development Policy --- Wages, Compensation, and Labor Costs: General --- Macroeconomics: Production --- Aggregate Factor Income Distribution --- Economic Development: Urban, Rural, Regional, and Transportation Analysis --- Housing --- Demand and Supply of Labor: General --- Labour --- income economics --- Wages --- Productivity --- Income --- Labor markets --- Industrial productivity --- Saving and investment --- Labor market --- United States --- Infrastructure. --- Labor. --- Macroeconomics. --- Production and Operations Management. --- Regional Economic Activity: Growth, Development, and Changes. --- Size and Spatial Distributions of Regional Economic Activity. --- Regional Development Policy. --- Wages, Compensation, and Labor Costs: General. --- Macroeconomics: Production. --- Aggregate Factor Income Distribution. --- Economic Development: Urban, Rural, Regional, and Transportation Analysis. --- Housing. --- Demand and Supply of Labor: General. --- Labour. --- income economics. --- Wages. --- Productivity. --- Income. --- Labor markets. --- Industrial productivity. --- Saving and investment. --- Labor market. --- Regional disparities. --- Regional economics. --- United States.

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This paper contributes to the debate on the existence of pollution haven effects by systematically measuring the pollution content of trade (measured by the pollution content of imports, PCI) and decomposing it into three components-a "deep" component (unrelated to the environmental debate but including variables traditionally present in the gravity model) and two components (factor endowments and environmental policies) that occupy center stage in the debate on trade and the environment. The decomposition is carried out for 1986-88 for an extensive data set covering 10 pollutants, 48 countries, and 79 ISIC 4-digit sectors. Illustrative decompositions presented for three of the 10 pollutants in the data set indicate a significant pollution haven effect which increases the PCI of the North because of stricter environmental regulations in the North. At the same time, the factor endowment effect decreases the PCI of the North as the North is relatively well-endowed in capital and pollution-intensive activities are also capital-intensive. On a global scale, because the bulk of trade is intraregional with a high North-North share, these effects are small relative to the "deep" determinants of the worldwide pollution content of trade. In sum, although the impact has been stronger on vertical (North-South) trade flows, differences in factor endowments and environmental policies have only marginally affected the pollution content of world trade during the 1986-88 period.

Abatement --- Abatement Costs --- Comparative Advantage --- Economic Activity --- Emissions --- Environment --- Environmental --- Environmental Economics and Policies --- Environmental Policies --- Environmental Policy --- Environmental Quality --- Environmental Regulations --- Equilibrium --- Imports --- Income --- Investment --- Knowledge --- Pollution --- Production --- Standards --- Trade