Spillovers in the Nordic Countries
Spillovers in the Nordic Countries

Author: MissBorislava Mircheva

Publisher: International Monetary Fund

Published: 2015-03-27

Total Pages: 28

ISBN-13: 1475554109

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Denmark, Finland, Norway, and Sweden form a tightly integrated region which has strong ties with the euro area as well as some exposure to Russia. Using the IMF’s Global Integrated Monetary and Fiscal model (GIMF), we examine spillovers the region could face, focusing on possible scenarios from the rest of the euro area and Russia, and the fall in global oil prices. We show that the spillovers from these scenarios differ in magnitude and impact, regardless of the high degree of integration among the four Nordic economies. These differences are driven by the fact that Denmark and Finland have no independent monetary policy, and Denmark and Norway are net energy exporters while Finland and Sweden are energy importers. We infer lessons for policy from the outcomes.

Spillovers to and from the Nordic Economies
Spillovers to and from the Nordic Economies

Author: Francis Vitek

Publisher: International Monetary Fund

Published: 2013-11-05

Total Pages: 30

ISBN-13: 1475513496

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This paper analyzes the transmission of shocks and policies among and across the Nordic economies and the rest of the world. This spillover analysis is based on a pair of estimated structural macroeconometric models of the world economy, disaggregated into thirty five national economies. We find that the Nordic economies are heavily exposed to external macroeconomic and financial shocks, but have significant scope to mitigate their domestic macroeconomic impacts through coordinated policy responses, given their high degree of regional integration.

Varieties of Capitalism
Varieties of Capitalism

Author: Peter A. Hall

Publisher: Oxford University Press

Published: 2001

Total Pages: 557

ISBN-13: 0199247749

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Applying the new economics of organisation and relational theories of the firm to the problem of understanding cross-national variation in the political economy, this volume elaborates a new understanding of the institutional differences that characterise the 'varieties of capitalism' worldwide.

Nordic Regional Report
Nordic Regional Report

Author: International Monetary Fund. European Dept.

Publisher: International Monetary Fund

Published: 2013-09-05

Total Pages: 41

ISBN-13: 1475597061

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This Selected Issues paper elaborates findings and discussions of 2013 Cluster Consultation Nordic Regional report. The countries have close economic and financial ties and face some common challenges and shared risks, such as large banking sectors and high household debt. The economic performance of the four continental Nordic economies (Denmark, Finland, Norway, and Sweden—Nordic-4) ranks among the advanced economic development circle. It is analyzed that the large Nordic banking systems support relatively high levels of private sector debt. House price developments in the Nordic-4 pose a risk to broader macroeconomic stability in the context of strained household balance sheets.

Productivity Growth in the Nordic Countries
Productivity Growth in the Nordic Countries

Author:

Publisher: Nordic Council of Ministers

Published: 2005

Total Pages: 80

ISBN-13: 9289311843

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Even small increases in a country's growth rate can result in large changes in living standards over just one generation. This key insight, which often seems to be forgotten by policymakers, is an important reason why the field of economic growth continues to be a large research field. This report provides an overview of the development of labor productivity in the Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden) since the early 1980s. It also examines if data are consistent with predictions of traditional theories of growth. The analysis shows, for example, that the real wage per employee is positively related to the level of labor productivity - a finding suggesting that changes in relative standards of living have been driven by parallel changes in relative productivity.

Spillovers in the Nordic Countries
Spillovers in the Nordic Countries

Author: Borislava Mircheva

Publisher:

Published: 2015

Total Pages: 28

ISBN-13: 9781475554144

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Denmark, Finland, Norway, and Sweden form a tightly integrated region which has strong ties with the euro area as well as some exposure to Russia. Using the IMF's Global Integrated Monetary and Fiscal model (GIMF), we examine spillovers the region could face, focusing on possible scenarios from the rest of the euro area and Russia, and the fall in global oil prices. We show that the spillovers from these scenarios differ in magnitude and impact, regardless of the high degree of integration among the four Nordic economies. These differences are driven by the fact that Denmark and Finland have no independent monetary policy, and Denmark and Norway are net energy exporters while Finland and Sweden are energy importers. We infer lessons for policy from the outcomes. --Abstract.

The Nordic future of work:
The Nordic future of work:

Author: Jon Erik Dølvik

Publisher: Nordic Council of Ministers

Published: 2018-11-27

Total Pages: 90

ISBN-13: 9289359080

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The Nordic future of workHow will work and working life in the Nordic countries change in the future? This is the question to be addressed in the project The Future of Work: Opportunities and Challenges for the Nordic Models. This initial report describes the main drivers and trends expected to shape the future of work. It also reviews the main distinctions of the Nordic model and recent developments in Nordic working lives, pointing towards the kind of challenges the future of work may pose to the Nordic models. Too often, debates about the future narrowly focus on changes in technology. This report draws attention to the broader drivers and political-institutional frameworks influencing working life developments, aiming to spur debate about how the interaction of changes in demography, climate, globalization and digital technologies may influence Nordic working lives in the coming decades.

Increasing Income Inequality in the Nordics
Increasing Income Inequality in the Nordics

Author: Rolf Aaberge

Publisher: Nordic Council of Ministers

Published: 2018-04-18

Total Pages: 213

ISBN-13: 9289355123

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The contributions document how income inequality in the Nordics in various dimensions have increased over recent decades. These developments are put in an international context. Developments in Denmark, Finland, Norway and Sweden are compared. Important aspects analysed in detail are overall inequality of both market and disposable incomes, the redistribution through the tax and transfer system as well as through the provision of government welfare services, the importance of demographic factors, the developments of both relative poverty and top income shares, and gender inequality.

Understanding the Spillovers and Transboundary Impacts of Public Policies Implementing the 2030 Agenda for More Resilient Societies
Understanding the Spillovers and Transboundary Impacts of Public Policies Implementing the 2030 Agenda for More Resilient Societies

Author: OECD

Publisher: OECD Publishing

Published: 2021-04-08

Total Pages: 215

ISBN-13: 9264765506

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The multidimensional and intergenerational nature of the 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs) calls for integrated policies. Progress made in a particular social, economic or environmental area or individual goal may generate synergies and trade-offs across dimensions (spillover effects), and steps taken in one country could have positive or negative impacts beyond national borders (transboundary effects).

Norway
Norway

Author: International Monetary Fund. Monetary and Capital Markets Department

Publisher: International Monetary Fund

Published: 2015-09-17

Total Pages: 25

ISBN-13: 1513571737

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This Technical Note reviews linkages and interconnectedness in the Norwegian financial system for Norway. Norway’s banks have important connections with global financial centers, but regional links are also important. Norwegian banks are very dependent on global financial centers as sources of funding and to hedge currency risks. Cross-sectoral exposures of Norway’s banks, insurance companies, and real estate companies are significant and extend beyond the Nordic region. The authorities are encouraged to expand their current monitoring efforts of crossborder and cross-sectoral exposures of the Norwegian financial sector, and to conduct regional stress tests. For this effect, the authorities can resort to market data and, if available, to balance sheet data of exposures at the individual financial institution level.