The quota database has been updated by one year through 2014. Overall, the results of the update continue the broad trends observed in previous updates, but the shifts between the main country groups are generally smaller. Using the current quota formula, the calculated quota share of Emerging...

Effects of different policy rules are simulated: uncoordinated targeting of the money supply or nominal income, use of monetary policy to achieve coordinated targets for nominal or real exchange rates, and the use of monetary and fiscal policies to hit targets for internal and external balance....

This 2012 Article IV Consultation highlights that economic growth in Luxembourg slowed in 2011 amid the euro area sovereign debt crisis. Reflecting sluggish external demand, economic activity is expected to further weaken, with growth projected to decline to ½ percent in 2012. Executive...

This 2005 Article IV Consultation highlights that economic growth in Greece has been strong for several years, underpinned by a large fall in interest rates owing to adoption of the euro and subsequent European Central Bank easing. In 2005, the authorities implemented substantial fiscal...

This Selected Issues paper examines the long-term issues with pension expenditures in the Netherlands. The paper highlights that the public pension for a single person is equal to 70 percent of the (statutory) minimum wage. The minimum wage and public pensions thus move in lock-step; they are...

This paper examines Colombia’s 2002 Article IV Consultation and Request for Stand-By Arrangement. The economic situation worsened in the first half of 2002. Economic activity has remained sluggish, and the fiscal consolidation has gone off-track. Exacerbated by increased contagion from...

This Selected Issues paper on Panama explores the current situation and trends of the Caja del Seguro Social (CSS) in Panama. The autonomy is embedded in its Organic Law, which also provides the agency with the right to have separate funds from the central government. The slowdown in economic...

This 2005 Article IV Consultation highlights that Norway’s real mainland GDP growth rebounded strongly in 2004, after a slowdown that began in late 2002. Very supportive monetary conditions, high oil prices, rising housing prices, strengthening consumer and business confidence, and an...

This paper discusses key findings of the Financial System Stability Assessment (FSSA) and Reports on the Observance of Standards and Codes (ROSC) on Banking Supervision, Securities Regulation, Insurance Supervision and Regulation, and Securities Settlement Systems for Belgium. The assessment...