Cover IMF Staff Country Reports
Kingdom of the Netherlands—Netherlands Selected Issues
Author: International Monetary Fund
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2004: Issue 301
Language:
English
Publication Date:
22 Sep 2004
DOI:
https://doi.org/10.5089/9781451829464.002
ISBN:
9781451829464
ISSN:
1934-7685
Pages:
42
Keywords:
ISCR; CR; Netherlands; TFP growth; revenue elasticity; spending ceiling; productivity growth; expenditure rule; Total factor productivity; Automatic stabilizers; Fiscal stance; Fiscal governance; Europe
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This Selected Issues paper for the Kingdom of the Netherlands—Netherlands underlies recent fiscal developments. Fiscal deterioration during economic slowdowns is not unusual and can be justified on economic grounds. Although the real spending ceilings were largely adhered to, procyclical elements embedded in the fiscal framework contributed to the structural fiscal deterioration. Sharp declines in the revenues from corporate profit taxes and social security contributions, as well as increases in social security spending, were largely responsible for the cyclical deterioration.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund