Download or read book Macroeconomic Imbalances Sweden written by European Commission. Directorate-General for Economic and Financial Affairs and published by . This book was released on 2012 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: On 14 February 2012, the European Commission presented its first Alert Mechanism Report (AMR), prepared in accordance with Article 3 of Regulation (EU) No. 1176/2011 on the prevention and correction of macroeconomic imbalances. The AMR serves as an initial screening device, helping to identify Member States that warrant further in-depth analysis to determine whether imbalances exist or risk emerging. According to Article 5 of Regulation No. 1176/2011, these country-specific ?in-depth reviews? should examine the nature, origin and severity of macroeconomic developments in the Member State concerned, which constitute, or could lead to, imbalances. On the basis of this analysis, the Commission will establish whether it considers that an imbalance exists and what type of policy follow-up it will recommend to the Council. For Sweden, the AMR suggested the need to look more closely at whether Sweden is exhibiting macroeconomic imbalances of an internal and external nature. On the external side, the AMR highlighted a long series of strong current account surpluses which, however, coincided with a loss in market shares over the last years. On the internal side, the high level of private debt was identified as a matter of concern, mainly due to increasing household indebtedness in the context of strong increases of house prices over the last decade. Against this background, Section 2 of this review looks more in detail into these developments covering both the external and internal dimensions, followed by specific focus sections on the housing market and private sector debt developments in Section 3. Section 4 summarises the findings and presents possible policy considerations.
Download or read book Macroeconomic Imbalances written by European Commission. Directorate-General for Economic and Financial Affairs and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Sweden written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2016-11-17 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the findings of the Financial System Stability Assessment for Sweden. The Swedish financial system is large and highly interconnected, putting a premium on the accompanying policy framework. Relative to the size of the domestic economy, the financial system is among Europe’s largest. It features complex domestic and international linkages, reflecting Sweden’s role as a regional financial hub. However, the macrofinancial risks have grown since 2011, for example the rising share of highly indebted households. Stress tests also suggest that banks and nonbanks are largely resilient to solvency shocks, but concerns persist about the ability of bank models to capture unexpected losses.
Download or read book The Swedish Experiment written by Assar Lindbeck and published by Center for Business and Policy Studies. This book was released on 1997 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Swedish Experiment Assar Lindbeck characterizes the economic and social system in Sweden in terms of a number of institutional features by which Sweden has differed from most other developed countries. They refer mainly to the division of responsibilities between the private and the government sector, in particular with respect to economic security, employment, income distribution, consumption and investment. The book concludes by asking whether the Swedish experiment is gradually unwinding and, if so, why. The Swedish Experiment is written in a nontechnical fashion and should be of great interest not only to professional economists, but also to students of economics and other social sciences as well as to general readers.
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Download or read book Reforming the Welfare State written by Richard B. Freeman and published by University of Chicago Press. This book was released on 2010-04-15 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the course of the twentieth century, Sweden carried out one of the most ambitious experiments by a capitalist market economy in developing a large and active welfare state. Sweden's generous social programs and the economic equality they fostered became an example for other countries to emulate. Of late, Sweden has also been much discussed as a model of how to deal with financial and economic crisis, due to the country's recovery from a banking crisis in the mid-1990s. At that time economists heatedly debated whether the welfare state caused Sweden's crisis and should be reformed—a debate with clear parallels to current concerns over capitalism. Bringing together leading economists, Reforming the Welfare State examines Sweden's policies in response to the mid-1990s crisis and the implications for the subsequent recovery. Among the issues investigated are the way changes in the labor market, tax and benefit policies, local government policy, industrial structure, and international trade affected Sweden's recovery. The way that Sweden addressed its economic challenges provides valuable insight into the viability of large welfare states, and more broadly, into the way modern economies deal with crisis.
Download or read book The Swedish Economy written by Barry P. Bosworth and published by Brookings Institution Press. This book was released on 2010-12-01 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: This books examines economic conditions and policies in Sweden. Topics include adjusting to slower economic growth, labor markets, taxation, the public sector, and Swedish political foundations.
Download or read book The Development of Swedish and Keynesian Macroeconomic Theory and Its Impact on Economic Policy written by Erik Filip Lundberg and published by Cambridge University Press. This book was released on 1996-05-31 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the historical development of the Stockholm School of Economics in the wider Keynesian tradition.
Download or read book OECD Economic Surveys Sweden 2015 written by OECD and published by OECD Publishing. This book was released on 2015-03-30 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This OECD Economic Survey of Sweden examines recent economic developments, policies and prospects. Special chapters cover growth and skills.
Download or read book OECD Economic Surveys Sweden 2012 written by OECD and published by OECD Publishing. This book was released on 2012-12-17 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: OECD's 2012 Economic Survey of Sweden examines recent economic developments, policy and prospects before taking a more detailed look at labour and social policies as well as housing and financial markets.
Download or read book Europe and Global Imbalances written by Philip R. Lane and published by International Monetary Fund. This book was released on 2007-06 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although Europe in the aggregate is a not a major contributor to global current account imbalances, its trade and financial linkages with the rest of the world mean that it will still be affected by a shift in the current configuration of external deficits and surpluses. We assess the macroeconomic impact on Europe of global current account adjustment under alternative scenarios, emphasizing both trade and financial channels. Finally, we consider heterogeneous exposure across individual European economies to external adjustment shocks.
Download or read book Models of Capitalism in the European Union written by Beáta Farkas and published by Springer. This book was released on 2016-09-07 with total page 541 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book uses comparative economic analysis to provide a common conceptual framework for all current European Union member states. Based on empirical investigation, the author identifies the Nordic, North-western, Mediterranean, and Central and Eastern models of capitalism on the threshold of the 2008 global financial and economic crisis. The chapters also examine the resulting institutional responses to the crisis and the methods of crisis management adopted by each member state. The analysis reveals that the crisis has not triggered radical institutional change but, instead, highlighted deep institutional differences not between the old and new member states, but between the Nordic, North-western, Mediterranean, and Central and Eastern European countries. These institutional differences are so significant that they require the rethinking of European integration theory. Models of Capitalism in the European Union serves as a useful handbook for academics, advanced students, policy-makers and advisors who are interested in European economic issues.
Download or read book The Great Demographic Reversal written by Charles Goodhart and published by Springer Nature. This book was released on 2020-08-08 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue, “it will be nothing like the past”. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world’s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world’s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others. This book will be of interest and understandable to anyone with an interest on where the world’s economy may be going.
Download or read book Macroeconomic Imbalances written by European Commission. Directorate-General for Economic and Financial Affairs and published by . This book was released on 2012 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: On 14 February 2012, the European Commission presented its first Alert Mechanism Report (AMR), prepared in accordance with Article 3 of Regulation (EU) No. 1176/2011 on the prevention and correction of macroeconomic imbalances. The AMR serves as an initial screening device, helping to identify Member States that warrant further in-depth analysis to determine whether imbalances exist or risk emerging. According to Article 5 of Regulation No. 1176/2011, these country-specific ?in-depth reviews? should examine the nature, origin and severity of macroeconomic developments in the Member State concerned, which constitute, or could lead to, imbalances. On the basis of this analysis, the Commission will establish whether it considers that an imbalance exists and what type of policy follow-up it will recommend to the Council. The AMR suggested the need to look more closely at whether the UK is suffering from macroeconomic imbalances of an internal and external nature. The AMR noted that, on the internal side, the high level of private debt is a concern, also in a context of a weak public finance situation with high and increasing government debt. The high value of private debt largely reflects household mortgages in a context of high accumulated increases in house prices. While both the levels of real household debt and real house prices have reduced, they still remain comparatively high which suggests that their unwinding has further to go where the speed of adjustment is an important aspect. On the external side, the UK lost export market share over the last decade, although some stabilisation can be noted in recent years. This loss of market shares took place despite a substantial depreciation of sterling between 2007 and 2009. At the same time and since 1997, the UK recorded small but significant current account deficits albeit below the indicative threshold. The purpose of the present in-depth review is to investigate the findings presented in the AMR and to ascertain whether macroeconomic imbalances of either an internal or external nature effectively exist in the UK and, if so, whether they are excessive in the meaning of Regulation no. 1176/2011. Sections 2 and 3 of this review analyse the existence and nature of potential macroeconomic imbalances in the UK. Section 2 takes a broad perspective of the UK economy, while section 3 focuses on two potential areas of concern for the UK: household debt and the housing market on the one hand, and external competitiveness on the other hand. Section 4 presents possible policy considerations.
Download or read book OECD Economic Surveys Sweden 2017 written by OECD and published by OECD Publishing. This book was released on 2017-02-08 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2017 OECD Economic Survey of Sweden examines recent economic developments, policies and prospects. The special chapters cover income inequality and gender inequality.
Download or read book Sweden written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2013-09-05 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2013 Article IV Consultation highlights Sweden’s economic growth and policies. Sweden’s economy appears to be slowing together with its main Nordic and European trading partners. The IMF report discusses that there is a scope to improve the fiscal framework, by ensuring it remains sufficiently countercyclical. Given the importance of Swedish banks for the region, improving financial stability in Sweden would also contribute to financial stability across the Nordics, as would additional progress toward cross-border burden-sharing agreements. Structural reforms are also expected to add to resilience and growth.
Download or read book EMU A Swedish Perspective written by Lars Calmfors and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: EMU - A Swedish Perspective provides a comprehensive and up-to-date survey of the EMU project. The main advantages and disadvantages of a single currency are evaluated. A key feature of the analysis is the attempt to integrate economic and political aspects. The book is a revised version of the report by the Swedish Government Commission on the EMU. Although the analysis focuses on the consequences for Sweden of joining versus not joining the monetary union, it is highly relevant for the discussion in all EU countries. The book provides an in-depth analysis of how the demands on economic policy will be affected by the monetary union. Various chapters discuss monetary policy and inflation, fiscal policy, unemployment and labour markets, the transition to monetary union, and the exchange-rate arrangements between participants and non-participants. Other chapters analyse the importance of the EMU for European political integration, democratic aspects, and how membership in the monetary union will affect the possibilities for an individual member state to exert influence within the EU. EMU - A Swedish Perspective should be of interest to professional economists and political scientists, students, and all others who want to form an opinion about the monetary union on the basis of a balanced assessment of the consequences. EMU - A Swedish Perspective provides a comprehensive and up-to-date survey of the EMU project. The main advantages and disadvantages of a single currency are evaluated. A key feature of the analysis is the attempt to integrate economic and political aspects. The book is a revised version of the report by the Swedish Government Commission on the EMU. Although the analysis focuses on the consequences for Sweden of joining versus not joining the monetary union, it is highly relevant for the discussion in all EU countries.
