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Author: Calmfors, Lars
Publisher: Nordic Council of Ministers
ISBN: 9289365633
Category : Political Science
Languages : en
Pages : 176
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Book Description
Public finances in the Nordics are facing great future challenges due to demographic developments. Increasing longevity is changing the age structure of the population, significantly raising the share of older people and thus the old-age dependency ratio. Over the last two decades, there has been a strong international trend to strengthen fiscal frameworks by adopting more stringent fiscal rules as well as increasing transparency and accountability. A first aim of the report is to survey and evaluate the fiscal frameworks in the Nordic countries. A second aim is to review how long-run sustainability analyses of public finances are made – and communicated to policy-makers and the general public – in the Nordics, by Ministries of Finance as well as by other institutions. The report also concludes the severity of the fiscal-sustainability problems in the Nordic countries.
Author: Calmfors, Lars
Publisher: Nordic Council of Ministers
ISBN: 9289365633
Category : Political Science
Languages : en
Pages : 176
Get Book Here
Book Description
Public finances in the Nordics are facing great future challenges due to demographic developments. Increasing longevity is changing the age structure of the population, significantly raising the share of older people and thus the old-age dependency ratio. Over the last two decades, there has been a strong international trend to strengthen fiscal frameworks by adopting more stringent fiscal rules as well as increasing transparency and accountability. A first aim of the report is to survey and evaluate the fiscal frameworks in the Nordic countries. A second aim is to review how long-run sustainability analyses of public finances are made – and communicated to policy-makers and the general public – in the Nordics, by Ministries of Finance as well as by other institutions. The report also concludes the severity of the fiscal-sustainability problems in the Nordic countries.
Author:
Publisher:
ISBN: 9789289365628
Category :
Languages : en
Pages :
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Book Description
Author: Lars Calmfors
Publisher:
ISBN: 9789289365642
Category :
Languages : en
Pages :
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Book Description
Public finances in the Nordics are facing great future challenges due to demographic developments. Increasing longevity is changing the age structure of the population, significantly raising the share of older people and thus the old-age dependency ratio. Over the last two decades, there has been a strong international trend to strengthen fiscal frameworks by adopting more stringent fiscal rules as well as increasing transparency and accountability. A first aim of the report is to survey and evaluate the fiscal frameworks in the Nordic countries. A second aim is to review how long-run sustainability analyses of public finances are made - and communicated to policy-makers and the general public - in the Nordics, by Ministries of Finance as well as by other institutions. The report also concludes the severity of the fiscal-sustainability problems in the Nordic countries.
Author: Barry W. Poulson
Publisher: Rowman & Littlefield
ISBN: 1666902578
Category : Business & Economics
Languages : en
Pages : 389
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Book Description
As countries recover from the coronavirus pandemic, they are confronted with an even more challenging debt crisis. Xavier Debrun argues in the foreword that in deciding where we go from here that there is no longer a consensus regarding the optimum design and enforcement of fiscal rules. Rather we must address a series of questions and challenges to the conventional wisdom. This book provides an opportunity for scholars to explore these questions from an international perspective, with reference to European countries, and emerging nations as well as the United States.
Author: Nordiska Ministerrådet
Publisher: Nordic Council of Ministers
ISBN: 9289320893
Category : Economic policy
Languages : en
Pages : 224
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Book Description
Author: Torben M. Andersen
Publisher: OUP Oxford
ISBN: 0191026646
Category : Business & Economics
Languages : en
Pages : 385
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Book Description
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 debt crises in the 1980s and 1990s. The Nordic countries are small and open economies, well-known for their high income levels, high employment rates, organized labour markets, a relatively equal distribution of incomes, and large public sectors. From this perspective, the book asks whether there are lessons that might be learned from the Nordic economies. Is there a distinctive Nordic model that could be usefully followed, by other small open economies, in terms of fiscal and monetary policy design, labour market policies and reforms, and financial and housing market regulation? It is inappropriate to define the Nordic model in terms of a common set of policies. Since the key characteristics, including the overarching objectives and supporting institutions, have strong historical foundations, copying and pasting them to other countries is not easily done. Even though the Nordic experiences are not directly transferable, they may add new knowledge about the importance of institutional design, fiscal consolidation, and structural reforms not only for macroeconomic performance but also for how to preserve key objectives such as social balance and equity.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264522417
Category :
Languages : en
Pages : 112
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Book Description
Norway’s economy is slowing as inflation and higher interest rates weigh on consumption and investment. The labour market is tight and wage growth robust, while labour shortages and job mismatches are high and rising. Inflation is falling but still way above the target of 2%. The fiscal stance is expansionary. It should become contractionary to support monetary policy. While Norway is one of the OECD’s most productive countries, productivity growth over the past decade has been weak. Making skills more relevant, notably by strengthening vocational education and training, could help raise productivity and ease tight labour markets. Higher and broader taxation of greenhouse gas emissions and investing in lower‐cost emission cuts would help achieve emission reductions more efficiently. Public spending as a share of GDP is the highest in the OECD, which brings important benefits in the form of high-quality public services. However, oil revenues are set to decline, and ageing costs to rise, foreshadowing strains on public finances in the future. Norway could benefit from applying a medium-term expenditure framework, introducing a spending rule, and establishing a full-fledged fiscal council. Reforming the very generous sickness and disability scheme could help reduce spending pressures and increase employment. Regional policy should become more cost-conscious. Infrastructure investment is very high, and imposing a minimum benefit-cost ratio on individual projects and strengthening ex-post evaluations could help improve its effectiveness. SPECIAL FEATURE: RAISING THE EFFECTIVENESS OF PUBLIC SPENDING
Author: Lundgren, Anna
Publisher: Nordic Council of Ministers
ISBN: 9289367911
Category : Business & Economics
Languages : en
Pages : 71
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Book Description
This Special Edition aims to complement State of the Nordic Region 2020 by taking an in-depth look at some of the factors that contribute to wellbeing and health in the Nordic Region, and exploring how digitalisation in health care and social care can contribute to wellbeing. The report illustrates the central role of demography, whereby the composition and the spatial patterns of the population together with socio-economic factors contribute to shaping the living conditions and wellbeing in different parts of the Nordic Region. Despite a general pattern of urban regions being richer, more well educated and living longer, we also find many thriving rural areas attracting new young residents. Digital infrastructure plays a crucial role for the development of those rural areas.
Author: Mr.Tobias Adrian
Publisher: International Monetary Fund
ISBN: 1513520741
Category : Business & Economics
Languages : en
Pages : 73
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Book Description
This paper explains specifics of stress testing at the IMF. After a brief section on the evolution of stress tests at the IMF, the paper presents the key steps of an IMF staff stress test. They are followed by a discussion on how IMF staff uses stress tests results for policy advice. The paper concludes by identifying remaining challenges to make stress tests more useful for the monitoring of financial stability and an overview of IMF staff work program in that direction. Stress tests help assess the resilience of financial systems in IMF member countries and underpin policy advice to preserve or restore financial stability. This assessment and advice are mainly provided through the Financial Sector Assessment Program (FSAP). IMF staff also provide technical assistance in stress testing to many its member countries. An IMF macroprudential stress test is a methodology to assess financial vulnerabilities that can trigger systemic risk and the need of systemwide mitigating measures. The definition of systemic risk as used by the IMF is relevant to understanding the role of its stress tests as tools for financial surveillance and the IMF’s current work program. IMF stress tests primarily apply to depository intermediaries, and, systemically important banks.
Author: Peter Nedergaard
Publisher: Taylor & Francis
ISBN: 1317443780
Category : Political Science
Languages : en
Pages : 341
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Book Description
The Routledge Handbook of Scandinavian Politics is a comprehensive overview of Scandinavian politics provided by leading experts in the field and covering the polity, the politics and the policy of Scandinavia. Coherently structured with a multi-level thematic approach, it explains and details Scandinavian politics today through a series of cutting-edge chapters. It will be a key reference point both for advanced-level students developing knowledge about the subject, as well as researchers producing new material in the area and beyond. It brings geographical scope and depth, with comparative chapters contributed by experts across the region. Methodologically and theoretically pluralistic, the handbook is in itself a reflection of the field of political science in Scandinavia and the diversity of the issues covered in the volume. The Routledge Handbook of Scandinavian Politics will be an essential reference for scholars, students, researchers and practitioners interested and working in the fields of Scandinavian politics, European politics, comparative politics and international relations.
