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).
176
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