Kingdom of the Netherlands—Netherlands: Staff Report for the 2004 Article IV Consultation
IMF Staff Country Reports, September 22, 2004
Source details
- Canonical URL
- Kingdom of the Netherlands—Netherlands: Staff Report for the 2004 Article IV Consultation
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Bibliographic details
- Published: September 22, 2004
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451829389.002
Summary
- The staff report for the 2004 Article IV Consultation on the Kingdom of the Netherlands—Netherlands highlights the economic developments and policies.
- The economy is beginning to emerge from an extended downturn.
- Against a background of soft labor market conditions and economic slack generally, inflation pressures are low.
- The authorities acknowledged the economic reasoning behind these recommendations, but considered implementation politically difficult in light of a cultural preference for an egalitarian wage distribution.
Economic developments and outlook
- Emerging from an extended downturn.
- Labor market: soft labor market conditions.
- Output gap: economic slack generally present.
- Inflation: inflation pressures are low (year-on-year HICP inflation referenced in keywords).
Policy findings and recommendations
- Staff recommendations were presented and justified on economic grounds.
- Political and cultural factors: authorities viewed implementation as politically difficult due to a cultural preference for an egalitarian wage distribution.
- Medium-term fiscal policy: the keywords reference a "medium term fiscal consolidation effort" as part of the staff’s analytical context.
Thematic coverage (subjects and keywords)
- Subjects listed: Aging, Expenditure, Health care spending, Labor, Labor markets, Population and demographics, Wages.
- Keywords listed: Africa, Aging, Asia and Pacific, CR, Europe, expenditure saving, GDP figure, Global, Health care spending, HICP, ISCR, medium term fiscal consolidation effort, Middle East, staff appraisal, staff statement, Wages, year-on-year HICP inflation.