S-WoPEc
 
Scandinavian Working Papers in Economics
HomeAboutSeriesSubject/JEL codesAdvanced Search
Department of Economics, Lund University Working Papers, Department of Economics, Lund University

No 2014:26:
Reforming the Fiscal Framework. The Case of Sweden 1973-2013

Lars Jonung ()

Abstract: This paper explores the evolution of Swedish fiscal policy from one extreme approach to another one in less than four decades. After the demise of the Bretton Woods-system in the early 1970s, Swedish fiscal policy was based on a Keynesian approach with the goal to stabilize the business cycle and maintain full employment using a large set of instruments in a discretionary manner. In the wake of the deep financial crisis in the early 1990s, this policy paradigm was eventually replaced by a rule-bound scheme. A fiscal framework was set-up as an instrument to rein in public finances. The present goal of fiscal policy is to maintain sustainable public finances while avoiding discretionary measures.

Keywords: Fiscal rules; fiscal policy council; fiscal policy; policy learning; Sweden; (follow links to similar papers)

JEL-Codes: E52; E62; E63; E65; F44; H62; O52; (follow links to similar papers)

37 pages, June 30, 2014

Before downloading any of the electronic versions below you should read our statement on copyright.
Download GhostScript for viewing Postscript files and the Acrobat Reader for viewing and printing pdf files.

Full text versions of the paper:

wp14_26.pdf    PDF-file
Download Statistics
This paper is forthcoming as:
Jonung, Lars, 'Reforming the Fiscal Framework. The Case of Sweden 1973-2013', "Reform Capacity and Macroeconomic Performance in the Nordic Countries", Oxford University Press.



Questions (including download problems) about the papers in this series should be directed to David Edgerton ()
Report other problems with accessing this service to Sune Karlsson () or Helena Lundin ().

Programing by
Design by Joachim Ekebom

Handle: RePEc:hhs:lunewp:2014_026 This page was generated on 2014-12-14 19:25:03