The strong output growth and labor market performance of recent years reflect both supply-side and demand-side factors. Fiscal restraint has a crucial role to play in containing the risk of further overheating, as well as in a medium-term perspective. Steady gains have been made in labor...

The past decade has witnessed a progressive weakening of the Antillean economy, and prospects for a recovery depend on reinvigorating and sustaining adjustment. There is a need for more vigorous reforms, well coordinated across governments and supported by building social consensus. Fiscal...

Compared with its U.S. and U.K. counterparts, the Labor Tax Credit (LTC) is likely to have more limited effects on incentives for primary-earners to enter the labor force, because of the smaller size of the credit. Any significant increase in the LTC to strengthen its effect on the still large...

The Selected Issues paper of the Netherlands provides an overview of the Dutch pension system. It examines the strengths and weaknesses of the existing bargaining model, compares the Dutch wage bargaining in different periods, examines the past macroeconomic performance of the Netherlands,...

Following several years of expansion, the Dutch economy is in its third year of weak growth. Executive Directors commended the authorities on prudent economic policy, and advised for fiscal consolidation in view of population aging. They welcomed the multiyear fiscal framework, and underscored...

The staff report for the Netherlands’ 2009 Article IV Consultation describes the economic developments and policies. State interventions in the financial sector have been broadly appropriate and consistent with a sound fix-it-and-exit approach. Measures have included capital injections,...

This Selected Issues paper on the Kingdom of the Netherlands reviews the cyclical position of the Dutch economy, and provides a comparison of different estimates of the nonaccelerating inflation rate of unemployment and the potential output. The study analyzes the adjustment mechanisms embedded...

The statistical data on indicators of tourism activity, gross domestic product (GDP) and components, real GDP, contributions to real GDP growth, changes in consumer price index and legal minimum wages in Aruba are detailed. Summary of trends in public finance, tax revenue, operational budget of...

The Netherlands showed strong growth and employment performance owing to its fiscal consolidation and structural reforms. Executive Directors commended the sound macroeconomic and structural policies, which have raised potential output, kept inflation low, and promoted strong employment growth....

Aruba is one of the most developed islands in the Caribbean. Still, it is vulnerable to external shocks owing to its heavy dependence on tourism and a steady increase in public debt. Policies to support further fiscal consolidation and boost Aruba’s growth potential are needed. Maintaining...