OECD Economic Surveys : Netherlands 2023 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, author, issuing body.

Series:

OECD Economic Surveys: Netherlands Series

Language:

English

Subjects (All):

Economic history.

Economic indicators.

Physical Description:

1 online resource

Edition:

1st ed.

Other Title:

OECD Economic Surveys

Place of Publication:

Paris : OECD Publishing, 2023.

Summary:

The Dutch economy swiftly returned to its pre-pandemic growth path, but rapidly rising inflation disrupted growth, magnifying existing challenges, such as the urgency of the transition to net zero, ageing-related fiscal pressures, and pervasive labour shortages. Significant investments in low-carbon infrastructure and technologies are needed to reduce fossil fuels dependence and exposure to global energy price fluctuations.

Contents:

Intro

Foreword

Basic statistics of the Netherlands, 2022

Executive summary

High inflation weighs on the economy

Reforms are needed to boost sustainable growth

Lifting labour supply is required to tackle staff shortages

1 Key policy insights

The economy is slowing amidst high price pressures

Economic growth started to slow following a quick recovery from the pandemic

Economic growth is expected to moderate

Macro-financial vulnerabilities have increased

Addressing long-term fiscal challenges to maintain debt sustainability

Shifting from crisis mode to long-term fiscal management

Streamlining the tax system to remove distortions that hold back productivity

Making taxation neutral across assets

Reducing tax distortions across forms of employment

Further improving tax avoidance and anti-money laundering measures

Faster transition to net zero to raise energy independence

Advancing the green transition will require investment in technology and infrastructure

Strengthening price signals across sectors to reduce emissions

Ensuring a just transition

References

2 Lifting labour supply to tackle tightness

The labour market is strong, but shortages weigh on growth prospects

Both cyclical and structural factors underlie labour shortages

Exceptional macroeconomic conditions contributed to tightness across-the-board

Skill mismatches endure, creating bottlenecks in specific industries

The prevalence of part-time work explains low labour input despite high employment

Unfavourable working conditions in some sectors likely discourage vulnerable workers

Lifting labour supply is necessary to tackle shortages

Reforming taxes and benefits to strengthen work incentives

Alleviating the maternity penalty to counter gender norms hampering labour supply.

Reducing labour market segmentation to ease transitions between occupations

Better integrating migrants and facilitating migration for shortage occupations

Stepping up lifelong learning to promote growth in expanding industries

Upgrading compulsory education to better prepare the future workforce

References.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-74301-4

92-64-89609-0