{
  "title": "Kingdom of the Netherlands—Netherlands Selected Issues",
  "publication": "IMF Staff Country Reports, July 14, 2005",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/kingdom-of-the-netherlands-netherlands-selected-issues-18385",
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  "summary": "This Selected Issues paper for the Netherlands highlights that Dutch cost competitiveness deteriorated significantly in the years prior to 2004.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- The Selected Issues paper highlights that Dutch cost competitiveness deteriorated significantly in the years prior to 2004.\n- Relatively poor economic performance during the new millennium contributed to competitiveness concerns.\n- Restrained export performance contributed specifically to those concerns.\n- The deceleration of private consumption growth started earlier than the deceleration of per capita real disposable income growth.\n- The consumption deceleration occurred at a time when the unemployment rate was at a historic low and interest rates had declined."
    },
    {
      "heading": "Major themes and substantive findings",
      "content": "- Cost competitiveness\n  - Deteriorated significantly in the years prior to 2004.\n- Economic performance\n  - Relatively poor performance during the new millennium contributed to competitiveness concerns.\n- Exports\n  - Restrained export performance was a specific contributor to the competitiveness issues.\n- Consumption and income dynamics\n  - Deceleration of private consumption growth preceded deceleration of per capita real disposable income growth.\n  - This consumption slowdown occurred despite a historic low unemployment rate and lower interest rates."
    },
    {
      "heading": "Subject classification and keywords",
      "content": "- Subject: Consumption, Disposable income, Expenditure, Exports, Housing prices, International trade, National accounts, Prices\n- Keywords: Consumption, CR, Disposable income, euro competitor, Europe, Exports, Global, growth in the Netherlands, house price, Housing prices, ISCR, nondurables consumption data, wealth elasticity\n\n---\n\n Content in this bundle\n\n- cr05225\n  - cr05225 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr05225 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 14, 2005",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451829518.002",
    "The Selected Issues paper highlights that Dutch cost competitiveness deteriorated significantly in the years prior to 2004.",
    "Relatively poor economic performance during the new millennium contributed to competitiveness concerns.",
    "Restrained export performance contributed specifically to those concerns.",
    "The deceleration of private consumption growth started earlier than the deceleration of per capita real disposable income growth.",
    "The consumption deceleration occurred at a time when the unemployment rate was at a historic low and interest rates had declined.",
    "Cost competitiveness",
    "Economic performance",
    "Subject: Consumption, Disposable income, Expenditure, Exports, Housing prices, International trade, National accounts, Prices",
    "Keywords: Consumption, CR, Disposable income, euro competitor, Europe, Exports, Global, growth in the Netherlands, house price, Housing prices, ISCR, nondurables consumption data, wealth elasticity",
    "**_cr05225**"
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