This paper assesses Estonia’s flexibility from two angles. The paper focuses on one aspect of that performance—the ability to sustain competitiveness. Then, a more forward-looking angle is the flexibility of Estonia’s labor and product markets. Estonia has made great...

France’s economic short-term outlook is positive, and long-term prospects have improved. Fiscal adjustment remains high on the government’s agenda. Tax reforms have improved the economy’s growth potential. Reforms in financial, labor, and product markets are necessary to...

This Selected Issues paper for Denmark shows that a demographic shift will have several impacts on the economy. The decline in the relative size of the labor force will result in relatively fewer goods produced. This effect will be particularly strong, because a large portion of the current...

This 2006 Article IV Consultation highlights that a broad-based economic upturn is under way in Sweden, spurred by strong global growth and supportive fiscal and monetary policies. Private consumption has served as the engine of expansion, supported by resurgence in investment and buoyant...

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...

The staff report for the 2004 Article IV Consultation on France highlights economic performance and near-term outlook and policies. On structural issues, a health care reform has established the key instruments to gain control over the system’s budget. Ongoing civil service reform and...

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 Euro Area Policies underlies global rebalancing of accounts. From a growth-accounting perspective, slower growth in the capital-labor ratio seems to be the main driver behind the deceleration in labor productivity. The increase in bilateral trade was accompanied by...

This Selected Issues paper examines the role of information and communication technology (ICT) in the recent acceleration of labor productivity growth in the United States. The analysis reveals that the increase of total factor productivity (TFP) growth is a broad phenomenon that encompasses...

This 2005 Article IV Consultation highlights that the cyclical recovery of the French economy was interrupted in the first half of 2005, as previously strong domestic demand faltered and the external sector continued to exert a drag on growth. In 2004, growth was faster and more...