The paper discusses the flexicurity model, its key policy elements, and association with a low unemployment rate and a high standard of social security for the unemployed. It provides details of an empirical analysis of unemployment performance and the flexicurity model. It also presents...

This Selected Issues paper examines conditions in Colombian labor markets, which present a big challenge to the country. At end-2004, the unemployment rate amounted to 12 percent, and about one-third of the labor force was considered underemployed. The paper reviews labor market developments...

This Selected Issues paper on Portugal reviews the considerations regarding productivity slowdown. The favorable evolution of income growth from the 1970s to the mid-1990s in Portugal was associated with above-average productivity growth but also reflected a more moderate decline in the amount...

Belgium has effected a remarkable fiscal adjustment, best illustrated by the decline in its public debt. While benefiting from an appreciable decline in interest rates, most of the underlying consolidation reflected a considerable increase in the tax burden, one of the highest in the...

This staff report on People’s Republic of China 2013 Article IV Consultation highlights macroeconomic developments and outlook. China has maintained robust growth since the global crisis, but the heavy reliance on credit and investment to sustain activity is raising vulnerabilities. The...

The staff reports for the 2013 Article IV Consultation on the Chile discuss the strong and inclusive growth over the medium term. Technocratic, rules-based, and transparent policy management; monetary policy under a floating exchange rate undertaken by a credible central bank; and prudent fiscal...