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Publications

Dans un souci de transparence et d’information, le BFP publie régulièrement les méthodes et résultats de ses travaux. Les publications sont organisées en séries, entre autres, les perspectives, les working papers et planning papers. Certains rapports peuvent également être consultés ici, de même que les bulletins du Short Term Update publiés jusqu’en 2015. Une recherche par thématique, type de publication, auteur et année vous est proposée.

Documents (1082)

2007

  • Growth and Productivity in Belgium 16/03/2007

    The objective of this report is to provide an overview of the main drivers of economic growth and productivity evolution in Belgium between 1970 and 2004, based on a consistent data set. The growth accounting methodology is applied to explain value added and labour productivity growth for total economy, manufacturing and market services. This decomposition exercise diverges from what has been applied in Belgium up to now, as it uses capital services flows rather than capital stock to measure the contribution of capital factor to production growth. Contributions of the main industries to value added, employment and productivity growth are also estimated.

    Working Papers - Working Paper 05-07  Publication(en),

  • Energy policy and the climate issue: a challenge for Belgium 06/03/2007

    This paper sheds light on several challenges related to the development of the energy system in Belgium up to 2050, taking into account constraints on the emissions of greenhouse gases (GHG) in a European context. It is based on two studies carried out by the Federal Planning Bureau in 2006 that deal with the related energy and climate change issues.

    Articles - Article 2007030602  

  • STU 01-07 : Special Topic : An accuracy assessment of FPB’s medium-term projections 06/03/2007

    In the course of 2006, quarterly economic growth in Belgium slowed down in line with the international business cycle from 0.9% in the first quarter to 0.6% in the last quarter. This year, qoq GDP growth should stabilise around 0.5%. On a yearly basis, economic growth should slow down from 3% in 2006 to 2.2% in 2007.

    In 2006, economic growth was only supported by domestic demand while net exports contributed negatively to it. In 2007, however, both domestic demand and net exports should support GDP growth. Despite the deceleration in quarterly Belgian export growth due to the slowdown of the euro area and the US economy, annual average export growth should rise to 6.5% in 2007 as it benefits from a considerable carry-over from 2006. After several years of decrease, the current account surplus should rise by 0.4% of GDP in 2007, mainly as a result of the decline in oil prices leading to an improvement in the terms of trade. Domestic demand growth should weaken this year, which is essentially due to the evolution of private consumption and public investment. Private consumption growth should be less buoyant than in 2006 as the personal income tax reform then gave its final boost to real disposable income. Public investment rose markedly last year in view of the local elections in October 2006, but should fall by the same extent in 2007.

    After a net gain of about 44,000 persons in 2006, employment is expected to record an average annual rise of 45,600 persons this year. As the number of jobs grows faster than the labour force, the broad administrative unemployment rate is expected to decline from 13.9% in 2006 to 13.5% in 2007. The harmonised Eurostat unemployment rate (based on labour force surveys) should fall from 8.3% in 2006 to 7.9% next year.

    This year, the increase in the national index of consumer prices (NICP) should amount to 1.8%, just as in 2006. It should be noted that the inflation picture in 2006 was blurred by the introduction of a new NICP-basket. The rise of the private consumption deflator, which is not affected by this factor, should decline from 2.3% in 2006 to 1.8% in 2007, mainly due to the decrease in oil prices.

    Séries clôturées - Short Term Update 01-07  Publication(en),

  • Supply and Use Tables for Belgium 1995-2002 : Methodology of Compilation 05/03/2007

    This paper presents the methodology for the compilation of a time series of supply and use tables for Belgium in current and constant prices for the period 1995-2002. These data have been produced at the Belgian Federal Planning Bureau within the framework of the EUKLEMS project and constitute an input for the project’s productivity database. The compilation of the time series was based on national accounts data and existing supply and use tables. The methodology consisted in splitting several industries and products, adapting existing data to the latest national accounts revisions, estimating missing tables as well as deflating current price supply and use tables.

    Working Papers - Working Paper 04-07  Publication(en),

  • Capital services and total factor productivity measurements : impact of various methodologies for Belgium 01/03/2007

    This Working Paper presents the different methodologies currently used to construct a volume index of capital services and analyzes the effects of methodological changes on capital services and total factor productivity estimates for Belgium over the period 1970-2004. The measurement of capital services is realized in two steps. First, productive capital stocks have to be estimated for each type of asset. Two methodologies are generally used: the geometric and the hyperbolic profile. Secondly, these stocks are aggregated, using the user costs of capital (exante or ex-post approach) as weights to derive an overall index. For the economy as a whole and the entire period, under an ex-post approach, the volume indices of capital services estimated with a hyperbolic age-efficiency profile grow at a higher rate than the indices estimated with a geometric profile. This general conclusion is, however, not observed in every sector. Under an ex-ante approach, the different volume indices are quite similar for the whole economy, even if the indices grow generally at a slightly higher rate in the case of a geometric pattern. A higher growth rate of the volume indices generates a higher capital contribution and, consequently, a lower TFP contribution. Over long periods of time, the different TFP estimates are relatively similar. Over shorter periods, the different methodologies generate more significant variations in the TFP contribution.

    Working Papers - Working Paper 03-07  Publication(en),

  • The NIME model of the World economy 13/02/2007

    The NIME model is a macroeconometric world model developed by economists at the Belgian Federal Planning Bureau. The model is used to make medium-term projections for the international economy, as well as to study the transmission mechanisms of economic policies and exogenous shocks.

    Articles - The NIME model of the World Economy  

  • The NIME Outlook for the World Economy 2007-2013 13/02/2007

    The January 2007 issue of the NIME Outlook for the World Economy presents a 2007-2013 macroeconomic projection for the major areas of the world. The outlook was produced using NIME, the Belgian Federal Planning Bureau’s macroeconometric world model. This issue also includes a number of essential stochastic results concerning the new world economic outlook. The major technical assumptions behind the outlook as well as a brief description of the NIME model are presented in the appendix.

    Prévisions & perspectives - NEO 01-07  Publication(en),

  • Eclairage sur des enjeux de la politique énergétique belge confrontée au défi climatique 31/01/2007

    Partant des deux études réalisées par le Bureau fédéral du Plan en 2006 sur les problématiques indissociables de l’énergie et de la lutte contre les changements climatiques, ce document fournit un éclairage sur des enjeux de la politique énergétique belge face au défi climatique.

    Le document est structuré en trois parties. La première partie explicite quelques étapes clés de la négociation des objectifs de réduction des émissions de gaz à effet de serre post-2012 dans un cadre européen et précise le cadre d’analyse utilisé dans ce document. Partant d’un objectif européen de réduction de 30 % en 2030 par rapport à 1990, une évaluation des impacts de la réalisation de cet objectif a été effectuée pour la Belgique ; elle est décrite dans la deuxième partie. Trois dimensions de l’évaluation sont abordées : l’évolution du système énergétique belge à politique inchangée, l’impact sur le système énergétique de l’objectif européen et l’impact de politiques climatiques sur l’économie belge. La troisième partie décrit quant à elle des transformations du système énergétique et de la société compatibles avec un développement durable en 2050. Ces transformations pourraient se concrétiser en particulier grâce à des efforts ciblés de recherche et développement et de changements de comportements, et par là conduire à des réductions des émissions de gaz à effet de serre de 50 % à 80 % au niveau belge.

    Working Papers - Working Paper 01-07  Publication(fr), Publication(nl),

2006

  • Simulating the impact of the pension bonus on the financial implications of working longer 18/12/2006

    In 2005, the federal government presented the ‘Generation Pact’, containing a number of measures designed to strengthen the financial sustainability of the Belgian system of social security in the light of demographic ageing. One of these measures, the introduction of a pension bonus, is designed to encourage older workers to postpone retirement. This working paper discusses the effect of this bonus on the financial consequences of retirement simulated for four fictitious older workers, representing various types of workers.

    Articles - Working Paper 11-06  

  • The Lisbon Strategy: structural policy in Europe and Belgium 18/12/2006

    The Lisbon Strategy has been launched by the European Council to promote long-term economic growth under the conditions of sufficient social and environmental protection. It builds on three pillars: the macroeconomic, the microeconomic and the labour market pillar. In this planning paper the microeconomic pillar and its implementation in Belgium is reviewed. The paper consists of four chapters, each covering a specific theme that concerns the microeconomic pillar.

    Articles - Article 2006121801  

  • STU 04-06 : Special Topic : Promoting an innovative economy: the Belgian National Reform Programme 15/12/2006

    In the October update of the FPB medium-term outlook for Belgium, GDP growth reaches an average of 2.3% for the 2006-2011 period. This development will be driven by both domestic demand and exports, although the contribution of net exports to economic growth is expected to be limited. The growth of private consumption (1.9% on average) should be in line with the growth of household disposable income in real terms (2% on average). Gross fixed capital formation should grow by 2.7% (on average). The structural loss of export market shares should remain significant, with exports increasing by 5.5% a year on average, compared with a 6.8% growth in our potential export markets.

    After climbing to 2.4% in 2006 because of high energy prices, inflation (as measured by the private consumption deflator) should fall below 2% in the medium term, mainly because of limited wage growth, the increase in interest rates and moderate rises in prices of imports (notably owing to the decrease in oil prices). Total employment is expected to increase by about 38,500 jobs a year during the 2006-2011 period, despite new job losses in manufacturing. The factors behind this performance are: a relatively favourable macroeconomic context, limited wage increases, a further small reduction in working time and various measures taken to promote employment. Nevertheless, the fall in the unemployment rate is expected to be limited due to the substantial rise in the labour force. However, at the end of the projection period - when baby-boomers will leave the labour force on a massive scale - the growth of the labour force should lose momentum, allowing the decrease in the unemployment rate to accelerate.

    All in all, economic growth should be stronger for the next six years compared to the previous six years, leading to the same average GDP growth rate during the period 2000-2011 as during the period 1990-1999. At the same time, the pace of employment growth should have nearly doubled (yearly 35,000 on average during the same period 2000-2011, against slightly less than 20,000 yearly during the former decade), reflecting a considerable decline in productivity gains.

    This medium term outlook does not take into account the measures taken within the framework of the 2007 budget.

    STU 4-06 was finalised on 11 December 2006.

    Séries clôturées - Short Term Update 04-06  Publication(en),

  • STU 03-06 : Special Topic : Simulating the impact of the pension bonus on the financial implications of working longer 20/10/2006

    HEADLINES BELGIAN ECONOMY - OCTOBER 2006

    This year, the Belgian economy should register a GDP growth of 2.7%. In 2007, economic growth should slow down to 2.2%.

    In line with the international economic situation, Belgian export growth should strengthen to 5.4% this year and decrease to 4.9% in 2007. The current account surplus should hardly change. In 2006 this is due to the sharp increase in oil prices, which leads to a deterioration in the terms of trade, whereas in 2007 imports and exports should increase to the same extent, while the terms of trade stabilise.

    Domestic demand should grow at a slower pace as business investment growth weakens somewhat after last year’s substantial catching-up. This is partially compensated for by a strengthening of public expenditure and especially by private consumption. Private consumption growth should accelerate to 2.3% in 2006 and 2% in 2007 (from 1.1% in 2005), thanks to the increase in households’ real disposable income and (at least in 2006) a further drop in the household savings ratio. Domestic employment should increase by on average 41,000 units in 2006 and 45,600 units in 2007. As the number of jobs is growing faster than the labour force, the unemployment rate (large administrative definition) is expected to diminish from 14.3% in 2005 to 13.7% in 2007. Nevertheless, the harmonised Eurostat unemployment rate (based on labour force surveys) should still increase from 8.4% in 2005 to 8.6% in 2006, only to drop to 8.3% next year.

    Headline inflation, as measured by the national index of consumer prices (NICP), should amount to 1.9% in 2006 and 2007 (after 2.8% in 2005). This year, the inflation picture is blurred by the introduction of a new NICP-basket based on the household budget survey of 2004. Measured by the deflator of private consumption, which is not affected by this technical factor, inflation should only drop to 2.4% in 2006 and ease further to 1.9% in 2007. The steady decline in inflation mainly results from the moderate wage cost increase, the appreciation of the euro and the stabilisation of oil prices expected in the course of 2007.

    Séries clôturées - Short Term Update 03-06  Publication(en),

  • Fiscal councils, independent forecasts and the budgetary process: lessons from the Belgian case 06/10/2006

    This paper describes the operating mode of the two existing Belgian fiscal councils - the High Council of Finance and the National Accounts Institute - as well as their role in the budgetary planning process and emphasizes the part taken by the FPB in producing independent macroeconomic forecasts. In the context of the revised Stability and Growth Pact, lessons drawn from the Belgian experience can certainly be useful for other Member States willing to improve their fiscal institutional settings.

    Articles - Working Paper 04-06  

  • Linking household income to macro data to project poverty indicators 06/10/2006

    This paper presents the results of a micro simulation model designed to make short-term projections of poverty indicators. The unit of observation in the model is the household. In order to project the evolution of household incomes over time, we have specified a model that links the total observed household income to the evolution of a set of macro income indicators that reflect the different ‘micro’ sources of income.

    Articles - Working Paper 05-06  

  • R&D Tax incentives in Belgium 06/10/2006

    In Belgium, as well as in other European countries, the use of R&D tax incentives has become more popular in recent years. It remains, however, important to evaluate the effectiveness of those new and existing measures.

    Articles - Working Paper 06-06  

  • FPB Tools and Methods 06/10/2006

    In this paper, the tools and methods currently used at the FPB are classified in three groups: national models; international models; and other tools and methods. The listed FPB’s instruments are used to produce analyses and projections in a wide range of areas: business cycle analyses and short-term forecasting, macro-sectoral analyses and medium-term outlook, long-term projections and the issue of ageing, intersectoral relationships, international economics, labour market analyses, public finance, demographic analyses, transport economics, energy market analyses, environmental issues and sustainable development. This paper gives only a bird’s-eye view of the most important tools and methods. At the end of each instrument’s description, references to a short-list of technical papers, applications and to FPB contact addresses can be found.

    Articles - Working Paper 07-06  

  • Network industry reform in Belgium: the macroeconomic impact 06/10/2006

    Two Working Papers on the macroeconomic impact of network industry reform have been published. The first is a detailed report in Dutch, the second a summary paper in English. The analysis builds on a simulation by FPB’s macroeconometric model HERMES, and a simulation by IMF’s general equilibrium model GEM. Although both simulations were based on the same exogenous input, they gave significantly different outcomes. This sheds light on the applicability of different modelling approaches to an issue at hand.

    Articles - Working Paper 08-06 / 10-06  

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