- ホーム
- > 洋書
- > 英文書
- > Business / Economics
Full 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.
Contents
1. Macroeconomic Perspectives on the Nordic Economies: Past, Present, and Future ; 2. Collective Risk Sharing: The Social Safety Net and Employment ; Commentary on Chapter 2: Social Trust and the Efficiency-Equity Trade-Off ; 3. Missing the Link? On the Political Economy of Nordic Egalitarianism ; Commentary on Chapter 3 ; 4. Labour Market Policies in Denmark: A Story of Structural Reforms and Evidence Based Policy ; Commentary on Chapter 4 ; 5. What Scope for Monetary Policy? Experiences from the Nordic Countries after the Financial Crisis ; Commentary on Chapter 5 ; 6. Monetary Policy and Exchange Rate Stabilization in Norway and Sweden ; Commentary on Chapter 6 ; 7. House Prices in Denmark and Sweden ; Commentary on Chapter 7 ; 8. Reforming the Fiscal Framework: The Case of Sweden 1973-2013 ; Commentary on Chapter 8 ; 9. Shaping the Fiscal Policy Framework: Lessons from Fiscal Consolidations in Denmark and Sweden ; Commentary on Chapter 9 ; 10. A Crisis Not Wasted: Institutional and Structural Reforms Behind Norway's Strong Macroeconomic Performance ; Commentary on Chapter 10 ; 11. Finland and Sweden in Cross-Country Comparison: What are the Lessons? ; Commentary on Chapter 11 ; 12. Iceland: How Could This Happen? ; Commentary on Chapter 12 ; 13. Challenges to the Nordic Model
