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OECD's 2012 Economic Survey of Switzerland examines recent economic developments, policy and prospects; making the tax system less distortive; reducing risks in the financial system and reducing greenhouse gas emissions as well as making a series of policy recommendations.
Tables des matières:
Basic statistics of Switzerland Executive summary Assessment and recommendations -The economic recovery has been broadly balanced but risks to the outlook have increased -The strong appreciation of the Swiss franc is threatening the export sector -Some concerns are emerging that a housing market bubble may start building up -Monetary policy needs to remain expansionary -Fiscal policy should remain prudent -Incentives for households to leverage their wealth should be reduced -Changes in the tax structure could strengthen potential activity -Cross-border issues in taxation need to be addressed -Reform of regulation of the large internationally active banks is essential to limit potential financial risks -Macroprudential considerations nedd to be incorporated effectively in prudential regulation -Some reform of the regulatory framework for the small banks active in domestic lending markets help reduce potential risks further -Meeting greenhouse gas emission reduction targets requires more cost-effective policies -The implicit carbon price in the road transport sector is low -The policy mix in the residential sector can be made more cost effective -Linking the Swiss and the EU emission trading system will help, but steps are required in the transition to the new system -Annex A1. Progress in structural reforms Chapter 1. Making the tax system less distortive -The main characteristics of the Swiss tax system -Making the tax system more supportive of growth -Reducing distortions in households' financial decisions -Alleviating some negative impacts of tax decentralisation and competition on efficiency and equity Chapter 2. Reducing risks in the financial system -The largest Swiss financial institutions require adequate legislation to limit financial risks -Regulation of smaller financial institutions -Towards a new macroprudential policy framework Chapter 3. Reducing greenhouse gas emissions in a cost effective way -Greenhouse gas emissions reduction - meeting new challenges -More could be done at low cost in road transport -The policy mix in the residential sector could be made more cost effective -Incentives to reduce emissions would have to be improved in industry and agriculture