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Reform Capacity and Macroeconomic Performance in the Nordic Countries
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Reform Capacity and Macroeconomic Performance in the Nordic Countries

Torben M. Andersen, Michael Bergman, and Svend E. Hougaard Jensen

Abstract

The outbreak of the financial crisis in 2008 has had significant effects on economic activity, unemployment, and public finances for all European countries. However, European economies do not form a homogenous region, and any serious analysis of macroeconomic imbalances in Europe must account for the fact that different economic and political models and circumstances operate across the continent. This book focuses on the Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden) which have a relatively good record of undertaking fiscal and structural reforms after their own financial and ... More

Keywords: Nordic countries, welfare state, financial crisis, fiscal policy, monetary policy, structural reforms, social balance

Bibliographic Information

Print publication date: 2015 Print ISBN-13: 9780198717102
Published to Oxford Scholarship Online: March 2015 DOI:10.1093/acprof:oso/9780198717102.001.0001

Authors

Affiliations are at time of print publication.

Torben M. Andersen, editor
Professor, University of Aarhus

Michael Bergman, editor
Associate Professor, University of Copenhagen

Svend E. Hougaard Jensen, editor
Professor, Copenhagen Business School

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Contents

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1 Macroeconomic Perspectives on the Nordic Economies

Torben M. Andersen, U. Michael Bergman, and Svend E. Hougaard Jensen

2 Collective Risk Sharing

Torben M. Andersen

3 Missing the Link?

Erling Barth and Karl Ove Moene

Comments on ‘Missing the Link?’

Niels Blomgren-Hansen

5 What Scope for Monetary Policy?

Anders Møller Christensen and Niels Lynggård Hansen

7 House Prices in Denmark and Sweden

U. Michael Bergman, Bjørn Tangaa Sillemann, and Peter Birch Sørensen

9 Shaping the Fiscal Policy Framework

U. Michael Bergman, Michael M. Hutchison, and Svend E. Hougaard Jensen

10 A Crisis Not Wasted

Erling Steigum and Øystein Thøgersen

Comments on ‘A Crisis Not Wasted’

Hans Tson Söderström

11 Finland and Sweden in a Cross-Country Comparison

Sixten Korkman and Antti Suvanto

12 Iceland

Thorvaldur Gylfason

Comments on ‘Iceland’

Søren Bo Nielsen

End Matter