This Selected Issues paper analyzes the wage moderation in the Netherlands. Wage growth has been subdued in the Netherlands despite tighter labor market conditions in recent years. Besides various cyclical factors, rising labor market flexibility may have contributed to the wage moderation in the Netherlands. Like other advanced economies, slower productivity growth and lower expected inflation are important drivers to the wage moderation in the recent years. In addition to that, remaining slack in the labor market also weighed on wage growth. Going forward, wages are expected to grow faster given higher expected inflation, foreign wage spillovers, and tightening labor market.
This paper reviews the first annual progress report (APR) on implementation of the Poverty Reduction Strategy (PRS) in the Republic of Congo. The paper discusses that a number of stages in PRS implementation have already been completed. The PRS is being implemented in an international economic context marked by a severe economic and financial crisis. At the national level, favorable circumstances have enabled Congo to maintain a high level of economic growth averaging nearly 6 percent a year from 2005 to 2009.
This paper reviews the annual progress report on Poverty Reduction Strategy Paper (PRSP) for Republic of Congo. The adoption of the PRSP in March 2008 was followed by adoption of the Operational Action Plan for implementation of the PRSP. The poverty reduction strategy is being implemented in an international economic context marked by a severe economic and financial crisis. The government has also undertaken significant structural administrative reforms with a view to improving political governance.
This Selected Issues paper and Statistical Appendix analyzes fiscal costs associated with Poland’s accession to the North Atlantic Treaty Organization and European Union (EU). The paper highlights that Poland’s accession to the EU could result in fiscal costs in certain areas, especially in upgrading the infrastructure in transportation and utilities, and improving the environment. The legislative reforms and the establishment of the regulatory and administrative structures are also likely to entail costs, though these costs are more difficult to quantify. This paper also discusses fiscal management and restructuring in Poland.