Netherlands: Selected Background Issues

International Monetary Fund

No 1995/049, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper analyzes whether the lower increase in wages was a factor in the labor productivity and employment developments in the Netherlands. It argues that there is indeed such a link: rapid wage growth leads to a substitution of capital for labor, and hence to less labor-intensive production; slow wage growth leads to less rapid growth of labor productivity and, for the same output growth, results in a better employment performance. The paper also discusses the causes of the lower wage growth in the Netherlands.

Keywords: ISCR; CR; real wage; minimum wage; total factor productivity; current account; sick leave; wage growth; investment-saving ratio; moderation policy; wage moderation; Real wages; Wages; Employment; Productivity; Europe (search for similar items in EconPapers)
Pages: 59
Date: 1995-06-08
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:1995/049

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