Growth-Promoting Policies and Macroeconomic Stability

OECD Economics Department Working Papers No. 1091

43 Pages Posted: 2 Dec 2013

See all articles by Douglas Sutherland

Douglas Sutherland

Organization for Economic Co-Operation and Development (OECD) - Economics Department (ECO)

Peter Hoeller

Organization for Economic Co-Operation and Development (OECD)

Date Written: November 28, 2013

Abstract

Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy’s vulnerability to shocks and their propagation. Macroeconomic shocks as severe and protracted as those since 2007 warrant a reconsideration of the role growth-promoting policies play in shaping the vulnerability and resilience of an economy to macroeconomic shocks. Against this background, this paper looks at a vast array of policy recommendations by the OECD that promote long-term growth – contained in Going for Growth and the Economic Outlook – and attempts to establish whether they underpin macroeconomic stability or whether there is a trade-off.

Keywords: growth, economic policy, business cycles, volatility

JEL Classification: E32, E52, E62, O40

Suggested Citation

Sutherland, Douglas and Hoeller, Peter, Growth-Promoting Policies and Macroeconomic Stability (November 28, 2013). OECD Economics Department Working Papers No. 1091, Available at SSRN: https://ssrn.com/abstract=2362204 or http://dx.doi.org/10.2139/ssrn.2362204

Douglas Sutherland (Contact Author)

Organization for Economic Co-Operation and Development (OECD) - Economics Department (ECO) ( email )

2 rue Andre Pascal
Paris Cedex 16, MO 63108
France

Peter Hoeller

Organization for Economic Co-Operation and Development (OECD) ( email )

2 rue Andre Pascal
Paris Cedex 16, 75775
France

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