Proceedings from the ECFIN Workshop "The budgetary implications of structural reforms" - Brussels, 2 December 2005

Figure 4. Evolution of the cyclically-adjusted government fiscal surplus,* 1993-2004

*: Cyclically-adjusted government net lending, in % of GDP. Source: OECD Economic Outlook 77, 2005.

No cyclical adjustment for Czech Republic, Hungary, Korea, Luxembourg, Poland and the Slovak Republic.

The period covered is 1994-2004 for Slovak Republic and 1995-2004 for Czech Republic and Poland.

The Czech deficit for 1995 includes a large capital transfer from voucher privatisation worth nearly 10% of GDP.

3.1 Overall intensity and timing of labour market reforms

As part of the ongoing reassessment of its recommendations to address issues of high
unemployment and low labour-force participation, the OECD has recently carried out a thorough
assessment of recent labour market reforms (Brandt, Burniaux and Duval, 2005), on which this
section relies heavily. All policy measures implemented by OECD member countries over the
period 1994-2004 have been evaluated for 44 possible individual categories falling under seven
broad policy areas:⁷³

• active labour market policies (ALMPs)

• taxes and social security contributions

• employment protection legislation (EPL)

⁷³.For full details, see Brandt, Burniaux and Duval (2005).

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