OECD Economic Surveys: United States 2010

This review of the United States includes an analysis of current economic conditions in the aftermath of the financial crisis and recession, along with special chapters on fiscal sustainability and climate change policy.



Table of contents
Executive summary
Assessment and recommendations
1. Rebalancing the economy after the crisis
2. Putting public finances on a sustainable path 20
3. Implementing cost-effective climate change-mitigation policies
Bibliography
Annex A.1. Progress in structural reform
Chapter 1. Rebalancing the economy
Rebalancing the economy away from overinvestment in housing and increasing the resilience of the mortgage market
Revising financial supervision to reduce the likelihood of future financial crises and lessen their transmission to other areas of the economy
Repairing household balance sheets and reducing the current account imbalance
Avoiding reduced labour market flexibility
Notes
Bibliography
Annex 1.A1. Housing choice with a changing interest rate in a two period optimization problem
Chapter 2. Restoring fiscal sustainability
After the crisis: dealing with large fiscal imbalances
Pathways toward fiscal stability
The long-term fiscal outlook is challenging
Notes
Bibliography
Annex 2.A1. A small budget simulation model
Chapter 3. Implementing cost-effective policies to mitigate climate change
It would be prudent to reduce Greenhouse Gas (GHG) emissions to limit climate change
The United States is a major emitter of GHG
Participation of the United States and other large emitters is pivotal to reaching an international agreement to reduce GHG emissions
The most cost-effective way to reduce GHG emissions is to price them and to support the development and diffusion of emission-reducing technologies
Government policies implemented thus far to reduce GHG emission have been neither ambitious nor cost effective
The current Administration’s preferred climate-change policy would yield large cost-effective reductions in emissions if implemented
Notes
Bibliography