1  The annual growth rate of real GDP per hour worked in the euro area averaged only 1.3% over the period 1999-2006. 2  See A. Annett (2006) “Lessons from successful labour market reformers in Europe”, IMF euro area policies: selected issues, August 2006.
2  BIS Review 24/2008  I would like to turn now to some of the reform policies pursued in the Netherlands that led to the remarkable performance of the Dutch labour market over the last quarter of a century.