Belgium: Selected Issues

March 7, 2001

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Format: Chicago

Belgium: Selected Issues, (USA: International Monetary Fund, 2001) accessed December 26, 2024

Summary

This paper provides a number of complementary estimates of potential output and the output gap—variables that cannot be observed directly. After a substantial increase in the tax wedge in the 1970s and the 1980s, which has been widely thought to have been partly responsible for the sharp rise in unemployment rates, the Belgian authorities instituted a policy of reduction in employers' social security contributions. The reforms will reverse the increase in average income tax rates during the 1990s.

Subject: Employment, Income and capital gains taxes, Income tax systems, Labor, Potential output, Production, Social security contributions, Taxes

Keywords: CR, Employment, Estimate, Global, Income and capital gains taxes, Income tax systems, ISCR, NAIRU, NAIRU variable, Output gap estimate, Potential output, Production-function estimate, Social security contributions, SSC conditional, SSC cut, Unemployment gap, Western Europe

Publication Details

Pages:

41
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2001/045
Stock No:

1BELEA0022001
ISBN:

9781451803167
ISSN:

1934-7685

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