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To promote transparency and provide information, the Federal Planning Bureau regularly publishes the methods and results of its works. The publications are organised in different series, such as Outlooks, Working Papers and Planning Papers. Some reports can be consulted here, along with the Short Term Update newsletters that were published until 2015. You can search our publications by theme, publication type, author and year.
By the end of 2008, the Federal Planning Bureau published the Working Paper 21-08. This Working Paper described and analysed the impact of the EU Climate-Energy Package on the Belgian energy system and economy. Since then, however, a lot has changed: the macroeconomic projections altered radically further to the financial and economic crisis, recent developments in the field of oil and gas supply and demand made fossil fuel price projections to be revised upwards and a number of energy efficiency measures were agreed upon and put into law in the course of 2008 and 2009. All this made the 2008 study less relevant whilst only 2 years old. This study report then updates the analysis reported in the Working Paper 21-08 and dedicates special attention to the stepping up to -30% for the EU greenhouse gas reduction target. It is based on the new economic and policy context and benefits from recent analyses of the European Commission conducted at EU level.
Working Papers - Working Paper 09-11 (en),
Other publications - OPVERG201101 (fr), (nl),
Forecasts & Outlook - OPHERMREG1101 (fr), (nl),
A consensus quickly emerged among national and international organizations, based on past experiences, that the financial crisis that erupted in 2008 would have a long-lasting impact on the level of output. An initial quantification of the potential output loss imputable to the crisis for Belgium was presented in WP 10-09. This Working Paper provides an update of this analysis and examines through the successive revisions of projections made by the Federal Planning Bureau how the perception of the crisis has evolved over the last two years and what its implications are for the medium run. The shortfall in potential output is now estimated to be less than 3 %, close to the area-wide loss estimated for the OECD-countries.
Working Papers - Working Paper 08-11 (en),
The new Economic outlook for Belgium for the period 2011-2016 is based on a context that is characterised by a stronger-than-expected recovery of the world economy, spurred on in particular by the Asian emerging economies and the US economy. Three main risks could undermine this international scenario: the budgetary position of several countries and the financial risks that this may entail; the volatility of commodity prices; and the overheating of several emerging economies.
Belgian GDP growth should amount to 2.2% in 2011 and in 2012, affirming its outperformance compared to the euro area since the start of the crisis. This growth rate should persist in the medium term. In 2011 and 2012, domestic demand growth should accelerate, backed by private consumption and business investment. Public investment should be highly dynamic in the run-up to the local elections of 2012. After an impressive increase in 2010, exports are expected to increase at a slower pace in 2011 and 2012 due to the deceleration in world trade growth. From 2013 onwards, growth in domestic demand and exports should remain close to historical average rates.
Belgian inflation should accelerate considerably in 2011 (3.5%), mainly due to a steep increase in raw material prices. Without new shocks on commodity prices, inflation should stabilise around 2% in the medium term.
Belgian employment coped remarkably well with the crisis. The rise in employment in the enterprise sector in 2010 (+27 000 persons) had already compensated for the decline in 2009. This performance seems to be related mainly to the so-called temporary unemployment system and the further increase in the number of people working in the government-subsidised voucher programme for domestic-type services. From 2011 onwards, employment in the enterprise sector should increase by roughly 46 000 persons per year. The number of unemployed should decline by 8 000 units in 2011 and by 3 000 units in 2012, followed by a strengthening in the annual decline in unemployment of up to 16 000 persons in 2016. The unemployment rate (broad administrative definition) should fall from 12.6% of the labour force in 2010 to 11% at the end of the projection period.
The general government deficit amounted to 4.1% of GDP in 2010 and should shrink to 3.8% of GDP in 2011, taking into account the budget information up to mid-April. Under a constant policy assumption, the public deficit should increase significantly in 2012 (4.4% of GDP) and decline gradually from 2013 onwards to reach 3.6% of GDP in 2016. The deficit reduction path, which aims to achieve a balanced budget in 2015, requires structural consolidation measures amounting to 17 billion euro.
STU 2-11 was finalised on 1 June 2011.
Closed series - Short Term Update 02-11 (en),
Forecasts & Outlook - Economic outlook 2011-2016 (fr), (nl),
Closed series - Planning Paper 109 (fr), (nl),
Other publications - OPBFPBNB_11_01 (fr), (nl),
In this Working Paper the impact of potential determinants of total factor productivity, i.e. the part of output that cannot be explained by the quantity of production factors, is estimated for Belgium using industry-level data for the period 1988-2007.
Working Papers - Working Paper 07-11 (en),
In the national accounts labour inputs are collected by industry. Homogenising means transforming labour inputs by industry into labour inputs by product. This homogenisation is done using mathematical techniques. The paper compares the results for two wellknown techniques (product technology and industry technology) and discusses the effects of homogenisation on Belgian data for the years 2000 and 2005. Labour inputs are detailed by gender and education level. An additional distinction is made between employees and self-employed. The paper proposes a solution for the negatives problem that arises when applying the product technology model in the case of self-employed workers. It also assesses the plausibility of results by showing the effects of homogenising on wage costs and value added per head as well as on the ranking of industries by education level. The product and the industry technology model yield significantly different results, most particularly for the employment use of wholesale and retail trade. The results of the product technology model are judged to be most plausible.
Working Papers - Working Paper 06-11 (en),
Reports - RIS_LAS_2001_01 (fr), (nl),
Articles - Article 20110324
Offshoring is generally believed to be productivity-enhancing and this belief is underpinned by economic theory. This article contributes to the growing literature that tests empirically whether offshoring does indeed help to improve productivity. Estimating the impact of materials and business services offshoring on productivity growth with industry-level data for Belgium over the period 1995-2004, we investigate this issue separately for manufacturing and market services. The results show that there is no productivity effect of materials offshoring, while business services offshoring leads to productivity gains especially in manufacturing. In addition, we look at the possibility of rent spillovers from offshoring. Productivity gains from offshoring in one industry may feed through to other industries that purchase its output for intermediate use if, due to offshoring, the user value exceeds the price of the output. The lack of evidence of such rent spillovers from either materials or business services offshoring in the data leads us to conclude that firms manage to internalise all efficiency gains from offshoring.
Working Papers - Working Paper 05-11 (en),
One of the main sections in the current draft of the 2011-2012 Interprofessional Agreement concerns the welfare adjustment of social benefits. This draft results from a long process and fits in with the law concerning the Solidarity Pact between the Generations, which established a structural mechanism at the end of 2005, linking social benefits to welfare evolution. This working paper ‘Welfare adjustment of social benefits’ describes the first stage of that process: estimating the disposable financial means for the welfare adjustment of social benefits for the period 2011-2012, to which the Federal Planning Bureau contributed. In the employees scheme these means amount to 233.8 million in 2011 and to 497.9 million in 2012, of which the draft of the Interprofessional Agreement proposes to utilize merely 60%. Furthermore, this paper offers an overview of Belgian social policy by portraying its main turning points on the one hand and analysing the evolution of the average amounts of the main social benefits since 1980 on the other. The outcome is marked with contrast: over the period 1980-2009 the relative standard of living globally improved for pensioners, as opposed to the unemployed and the disabled.
Working Papers - Working Paper 04-11 (mix),
Last year, the global economic recovery after the 2009 recession turned out to be stronger than initially expected. The phasing out of stimulus measures, a deceleration of world trade growth, and public deficit reduction measures are expected to weigh on economic growth in the euro area this year. However, the German economy should continue to grow noticeably faster than the euro area average and impact positively its neighbouring countries (including Belgium). The international economic context remains highly uncertain, among other factors with regard to the future evolution of oil and other raw material prices.
In the wake of the Germany’s strong growth performance, combined with a catch-up in construction activity after the cold winter, Belgian GDP increased sharply in 2010Q2 (1.1%). The growth deceleration in 2010Q3 (0.4%) was therefore hardly surprising, all the more so because export market growth was already expected to slow down in the second semester. In the course of 2011, Belgian export growth should pick up again and domestic demand growth should strengthen, owing to investment especially. As a result, GDP growth should gradually improve from 0.5% in 2011Q1 to 0.6% in 2011Q4. On an annual basis, Belgian GDP growth is estimated at 2% both for 2010 and for 2011.
Despite the rise in labour productivity and working time, the number of jobs has been increasing again since the beginning of 2010. During the first half of this year, employment growth should weaken slightly owing to an acceleration of productivity growth, but should regain momentum thereafter. The number of employed persons is expected to increase by 28 500 on average in 2010 and by 37 600 in 2011. Considering the evolution of the labour force, the number of unemployed should fall by 4 600 on average this year. Therefore, the harmonised unemployment rate (Eurostat definition) should stabilise at 8.4%.
Measured by the yoy growth rate of the monthly consumer price index, Belgian inflation was on the rise in the course of 2010 as a result of a steady increase in commodity prices. Underlying inflation was also on an uptrend as from May 2010 and should increase further as the recent rise in commodity prices feeds into prices of other goods and services. According to our most recent inflation forecasts, finalised at the end of February, the inflation rate should increase from 2.2% in 2010 to 3.3% in 2011.
STU 01-11 was finalised on 2 March 2011.
Closed series - Short Term Update 01-11 (en),
Forecasts & Outlook - Economic forecasts 2011 (fr), (nl),
This study aims to analyse the effects of the decentralization level of collective wage bargaining on the wage level and the wage dispersion in Belgium. For this purpose, we have constructed a composite indicator of collective bargaining decentralization, based on variables that determine collective bargaining. Our results indicate the presence of a significant wage bonus and wider wage disparity in industries where collective bargaining is decentralized. Furthermore, we compare these results with those that use as an indicator of bargaining decentralization, the presence of collective agreements at company level, a commonly used indicator in the literature. We notice that this latter indicator seems to underestimate the degree of bargaining decentralization and thus also its effects on the wage structure. One can explains this result by the fact that in Belgium, besides firm collective agreements, the bargaining system also provides mechanisms that enable firms to distance themselves from collective agreements set at industry level.
Working Papers - Working Paper 03-11 (fr),
This Working Paper gives an overall picture of the horeca industry in Belgium. The study focuses in particular on aspects of business demography, the importance of the sector for the Belgian economy, its development since the mid-nineties and the financial health of horeca companies. Since the provision of horeca services is a very labour-intensive activity, special attention is paid to employment features.
Working Papers - Working Paper 01-11 (mix),
This study aims to analyse the impact of two transport pricing policies using the PLANET model. The transport policies are (1) a harmonisation of excise duties on petrol and diesel and (2) road pricing for heavy goods vehicles in accordance with the EU proposal for the Eurovignette III directive. The effects studied concern the consequences for the transport activity for persons and goods, the environmental impact and the impact on social welfare. For both policy types, the impact on the public budget is neutralized through general taxation or labour taxation.
Working Papers - Working Paper 02-11 (fr),
Working Papers - Working Paper 22-10 (mix),
This paper shows the evolution of production, domestic demand and imports and exports of alcoholic beverages between 1995 and 2009. These variables are given for beer, malt and distilled and non-distilled alcoholic beverages as well as some non-alcoholic beverages. The paper shows the evolution of production, value added, investment, employment and wage costs for the alcoholic beverage producing industry and breaks down employment in breweries by type. For the years 1995 and 2005, the study estimates and compares the GDP contribution and employment generation of the production and distribution of alcoholic beverages in Belgium. These estimates are based on the input-output tables for both years.
Working Papers - Working Paper 21-10 (nl),
In October, the FPB prepared an update of its medium-term economic outlook of May 2010. This new outlook covers a longer period (2010-2020) than usual because it was drawn up in the framework of the macroeconomic surveillance process under the Europe 2020 Strategy, with a view to the preparation of the draft Belgian National Reform Programme.
This new outlook for Belgium is based on an international context that is marked by a recovery that should emerge in 2010-2011 and even gain momentum in the medium term. Nevertheless, the uncertainty surrounding these forecasts continues to be higher than before the financial crisis. Large budget deficits and global imbalances continue to threaten the stability of worldwide economic growth.
Yearly Belgian economic growth should amount to approximately 1.8% in 2010 and 2011 (based on our September forecast described in STU 3-10) and fluctuate around 2% thereafter. After a sharp decline in 2009, domestic demand has been expected to rise again in 2010, despite the on-going fall in business investment. As of 2011, domestic demand should rise at an average yearly rate of 1.8% as its various components regain their trend-based growth. Belgian exports, which fell by 11% in 2009, have recovered significantly in 2010. Thereafter, exports should grow at a rate close to its historical average. The contribution of net exports to GDP growth should be positive for the whole projection period (0.3-0.4 %-points on average for 2012-2020). Employment seems to have already experienced a moderate recovery in 2010.
Employment should increase further in 2011 and 2012, but at a limited pace as employers try to push up labour productivity and average working time from the historically very low levels that they reached in 2009. From 2013 to 2015, employment growth should become more sustained before gradually dropping again towards the end of the forecast. Employment as a percentage of the population aged between 20 and 64 years should initially fall from 68% in 2008 to 66.9% in 2010, but should recover to 68.2% in 2015 and 69.8% in 2020, a rate still well below the 75% target set by the EU. Unemployment (broad administrative definition) is expected to peak in 2012 at a level that is 103 000 units higher than in 2008. From 2013 onwards, unemployment should slowly decline and reach 591 000 units in 2020.
The general government budget deficit should shrink from 6% of GDP in 2009 to 4.8% of GDP in 2010, 4.6% in 2011 and 4.5% in 2012. Thereafter, the deficit should remain almost constant up to 2020. A further and considerable fiscal adjustment is thus necessary to cut back the deficit to 3% of GDP in 2012 and achieve a balanced budget in 2015 in accordance with the Stability Programme of January 2010.
STU 04-10 was finalised on 22 December 2010.
Closed series - Short Term Update 04-10 (en),
Working Papers - Working Paper 23-10 (fr), (nl),
The Federal Planning Bureau took part, in collaboration with the German institute DIW Berlin, in a technical assistance project financed by the European Commission aimed at developing different modelling approaches for the economy of Lesotho, a small country landlocked within the territory of South Africa. In the context of this project a macro-econometric model was elaborated. This Working Paper describes the main characteristics and the behavioural equations of this model and discusses a baseline simulation and an alternative scenario aimed at reducing up to 2012 the expected public deficit.
Articles - Article 2010110301
In this working paper the evolution of expenditures for research and development (R&D) in Belgium, in the period 1995-2007, is compared to the evolution in ten other EU countries. R&D expenditures by companies established in Belgium evolved quite favourably up to 2001 but subsequently not only did R&D intensity in Belgium decrease but the position relative to other countries deteriorated as well. This evolution seems to be due mainly to a decline in the share of a significant number of industries in Belgium in the overall R&D expenditures of the group of countries considered, and less the result of the type of industries in which Belgian companies have specialized.
Working Papers - Working Paper 20-10 (nl),
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