In-house work by the Bank of Greece provides similar estimates of the effects of structural reforms with the main effect coming from higher total factor productivity (TFP) growth. 2. Challenges remain In spite of these positive developments, considerable stock disequilibria remain:   Unemployment, though falling, remains very high (at about 23%); Job creation, although robust, is dominated by temporary and part-time jobs.
2  BIS Review 12/2008  As regards the retail market, recent initiatives in the primary bond auctions have made investment in government bonds more accessible to the individual investors.