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This paper presents an econometric model for the Dutch mortgage market. It comprises demand equations for housing and other mortgages, estimated over the period 1965II-1974I, a mortgage rate equation and a set of equations describing the allocation of mortgage credit over four categories of financial institutions. For the demand for mortgages on houses we found a long-term interest elasticity of -- 1.14 and for the demand for other mortgages one of -- 0.58. Mortgage rate differentials seem to influence the distribution of mortgages over the financial institutions. However, the main determinant is the share of new deposits going to commercial banks. [ABSTRACT FROM AUTHOR]

The period following the second world war was characterised in The Netherlands by full employment. As a result, the policy with regard to the labour market underwent some remarkable changes. Before the war, the principal aim of that policy had been the prevention of unemployment. Now far more stress is being laid on the creation of a state of equilibrium between the various parts of the market. At the same time, because people became more aware of the fact that economic policy in general should be directed towards attaining a high rate of economic growth, another new element was introduced into labour market policy. It was felt to an increasingly strong extent that such policy should also be made to serve the purpose of attaining an optimal use of the available and potential labour force. The author is of opinion that labour market policy should be a matter of co-operation between government and socialeconomic organisations. and the entrepreneurs. It should start at the level of general and professional education, and take into account that the present phase of economic development shows important shifts. Agricultural employment in The Netherlands is narrowing down from 8% of the total working population at present, to probably 6% in 1970. Employment in manufacturing is levelling off at a percentage of around 42. This means that employment in the tertiary sector is surpassing 50%. An active labour market policy should be part of a program of general economic planning at middle-long term, and include a policy, directed towards establishing a higher rate of mobility of labour. Co-ordination of an active labour market policy with other sectors of socio-economic policy could be reached by the creation of governmental or semi-governmental bodies, designed to give special attention to the optimal use of the labour force as a factor of production, with due regard to the human element. [ABSTRACT FROM AUTHOR]

Economic growth, and the level of savings required to finance it, have increased in the Netherlands since the second world war to a considerably larger extent than could reasonably have been expected. The Netherlands are among the countries which, after the period of recovery and economic revival, have become under the spell of the idea of economic growth. The country was able to realize this growth by using an amount in the order of magnitude of 20 per cent, of its national income (calculated at market prices) for the formation of capital. This percentage was attained thanks to the fact that savings of private individuals were largely supplemented by government savings, by business savings (effectuated through keeping appreciable portions of net profits in the business for the purpose of strengthening reserves), and by forming (or enlarging the amount of) funds, set aside for carrying out arrangements made for the payment of old age pensions, widows' pensions and the like. More than half of the above-mentioned total of 20 per cent, was due to savings of these three kinds. As such savings are often not felt by private individuals as sacrifices, they may be called disguised or veiled savings. The author pays special attention to government savings. They have been a permanent feature in the Netherlands since the end of the war; and they have contributed to no small extent towards financing economic growth. They emanated from surplusses of current central government income above current central government expenditure, and enabled the central government to finance important investments, also for the account of local authorities. For the year 1960 a savings quota of 23 per cent, of the national income was registered. Since then the percentage has gone back to 17¼ per cent, in 1963. In the meantime impulses towards economic growth have gained strength. With a view to this development the government recommends serious endeavours directed to re-establishing a savings quota of 23 per cent, of the national income. Given the strong tendency towards increased consumptive spending which has made itself felt during the last few years, the author realizes that this is a desideratum, by no means easy to be fulfilled. He does not, however, consider its fulfilment as a task which cannot be accomplished. [ABSTRACT FROM AUTHOR]