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2005 OECD Economic Outlook, Volume 2005 Issue 2

image of OECD Economic Outlook, Volume 2005 Issue 2
Twice a year, the OECD Economic Outlook analyses the major trends and examines the economic policies required to foster high and sustainable growth in member countries. Developments in major non-OECD economies are also evaluated. The present issue covers the outlook to end-2007. Together with a wide range of cross-country statistics, the Outlook provides a unique tool to keep abreast of world economic developments.  In addition to the themes featured regularly, this issue contains an analytical chapter addressing the recent run-up in house prices.

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Netherlands

The Dutch economy has gone through a long period of below-trend growth in the past five years. With improving cost competitiveness, stronger export market growth and repaired balance sheets, a recovery is now underway; it is projected to broaden in 2006-07. Headline inflation has increased due to rising energy prices, but core inflation is likely to remain moderate.

In view of the expected expansion, the government should allow automatic fiscal stabilisers to fully operate on the upside. Moreover, measures to further relax strict employment protection legislation (EPL) on regular contracts would increase resilience and reforms aimed at increasing working time over the lifespan would help to strengthen labour supply.

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