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Eurosclerosis or Financial Collapse
Ms.Valerie CerraMs.Sweta Chaman Saxena
其他書名
Why Did Swedish Incomes Fall Behind?
出版International Monetary Fund, 2005-02-01
主題Business & Economics / Economics / MacroeconomicsBusiness & Economics / Banks & BankingBusiness & Economics / Foreign Exchange
ISBN145186048X9781451860481
URLhttp://books.google.com.hk/books?id=UGAYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋Sweden represents an archetypal welfare state economy, with extensive government safety nets. Some scholars have attributed a decline in its per capita income ranking since 1970 to "eurosclerosis" or sluggish growth caused by distortionary policies. This paper argues rather, that the permanent loss in output following Sweden's banking crisis in the early 1990s explains the decline in its per capita GDP ratings. The paper finds no macroeconomic evidence that welfare state policies have deterred growth. The results warn that empirical growth analyses should distinguish between trend output growth and permanent output loss associated, for example, with financial crises.