- International Monetary Fund
- Published Date:
- July 1999
© 1999 International Monetary Fund
Production: IMF Graphics Section
Typesetting: Victor Barcelona
The Netherlands: transforming a market economy / C. Maxwell Watson…
Washington, DC: International Monetary Fund, 1999.
p. cm.— (Occasional paper, ISSN 0251-6365; no. 181)
Includes bibliographical references.
1. Netherlands—Economic conditions—1945-. 2. Monetary policy—Netherlands. 3. Fiscal policy—Netherlands. 4. Labor market—Netherlands. 5. Manpower policy—Netherlands. 6. Social security—Netherlands. I. Watson, Maxwell. II. International Monetary Fund. III. Occasional paper (International Monetary Fund); no. 181.
(US$15.00 to full-time faculty members and students at universities and colleges)
Please send orders to:
International Monetary Fund, Publication Services
700 19th Street, N.W., Washington, D.C. 20431, U.S.A.
Tel: (202) 623-7430 Telefax: (202) 623-7201
Bas. B. Bakker and loannis Halikias
Bas B. Bakker
Bas B. Bakker
Bos B. Bakker
5.7. Output Gap and Monetary Conditions
The following symbols have been used throughout this paper:
… to indicate that data are not available;
n.a. to indicate not applicable;
— to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;
– between years or months (e.g., 1994–95 or January–June) to indicate the years or months covered, including the beginning and ending years or months;
/ between years (e.g., 1994/95) to indicate a crop or fiscal (financial) year.
“Billion” means a thousand million.
Minor discrepancies between constituent figures and totals are due to rounding.
The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.
The material presented in this paper was originally prepared as background for discussions in the IMF Executive Board and takes account of developments through March 1999. The authors are grateful to the Dutch authorities for extensive discussions and comments and for their assistance in providing data and other source material. They would also like to acknowledge the valuable contributions of Meral Karasulu, Frank Lakwijk, Antoine Magnier, and Nancy Wagner, who prepared material that is included in the paper.
The paper, or material incorporated in it, has benefited from the comments of staff in the European I Department as well as other departments in the IMF and the World Bank, and in this connection the authors are particularly grateful to Jacques Artus, Yusuke Horiguchi, Hamid Faruqee, Paul Hilbers, Bert Hofman, Russell Kincaid, Jenny Ligthart, Kenneth Meyers, Christian Mulder, Jo Ritzen, Willem van Eeghen, and Alessandro Zanello.
The authors would like to express thanks to a number of commentators in the academic community, including notably Flip de Kam, Wiemer Salverda, and Cees Sterks, as well as participants at seminars in the Netherlands, organized by the Central Planning Bureau and the University of Groningen, at which material in the paper was presented. The views expressed, however, are the sole responsibility of the authors and do not necessarily reflect those of the IMF staff or Executive Board, or the Dutch authorities.
The authors also wish to express their appreciation to Juanita Roushdy of the External Relations Department for editing the paper and coordinating its publication. They are also grateful for the valuable assistance provided by Susan Becker of the European I Department in preparing tables and figures, and by Lisbeth Kiuru and KC Craig, also of the European I Department, in processing the original texts.