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Economic Resilience: What Role for Policies?

Aida Caldera Sánchez

Economics Department of the OECD, 2, rue André Pascal 75775 Paris Cedex 16, France

E-mail Address: aida.calderasanchez@oecd.org

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Morten Rasmussen

Danmarks National Bank, Havnegade 5, 1093 København K, Denmark

E-mail Address: mhr@nationalbanken.dk

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, and

Oliver Röhn

Economics Department of the OECD, 2, rue André Pascal 75775 Paris Cedex 16, France

E-mail Address: oliver.roehn@oecd.org

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https://doi.org/10.1142/S1793993316500095Cited by:6 (Source: Crossref)

Abstract

The global financial crisis highlighted the importance of strengthening the resilience of our economies to adverse shocks. In this paper, we take stock of studies carried out primarily within, but also outside the OECD, to better understand the role of macroeconomic and structural policies in spurring or mitigating the vulnerabilities that can lead to costly shocks, as well as the role of policies in mitigating the shock impact and speeding the recovery. Then we offer tentative insights on how policies can be geared to address vulnerabilities early on, mitigate the impact of shocks and speed recoveries, as well as highlight possible trade-offs that exist across policy areas.

Keywords:

JEL: E32, E44, E51, F47

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