Government Solvency, Social Security and Debt Reduction in Denmark

Ninette  Pilegaard Hansen; Svend E. Hougaard Jensen; Martin Junge

doi:10.1057/9780230501034

Government Solvency, Social Security and Debt Reduction in Denmark

Ninette Pilegaard Hansen, Svend E. Hougaard Jensen, Martin Junge

Research output: Chapter in Book/Report/Conference proceeding › Book chapter › Research › peer-review

Abstract

From a macroeconomic perspective, the Danish economy has performed very well in recent years. After a long period of recession, the rate of economic growth since 1993 has been relatively high, the unemployment rate has fallen and no significant wage–price pressure has been evident. The discretionary impact of fiscal policy has on the whole been neutral – with the period 1993–5 being a possible exception, as a result of the so-called fiscal ‘kick start’ – so the upturn has mainly been driven by non-government demand. Also the track record of public finances has been good: the ratio of public debt–GDP has fallen considerably, and the budget turned into surplus in 1997. If it so wished, Denmark could join EMU by 1999.

Original language	English
Title of host publication	Macroeconomic Perspectives on the Danish Economy
Editors	Torben M. Andersen, Svend E. Hougaard Jensen, Ole Risager
Place of Publication	London
Publisher	Palgrave Macmillan
Publication date	1999
Pages	193-224
Chapter	7
ISBN (Print)	9781349407316
ISBN (Electronic)	9780230501034
DOIs	https://doi.org/10.1057/9780230501034
Publication status	Published - 1999
Externally published	Yes

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Cite this

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title = "Government Solvency, Social Security and Debt Reduction in Denmark",

abstract = "From a macroeconomic perspective, the Danish economy has performed very well in recent years. After a long period of recession, the rate of economic growth since 1993 has been relatively high, the unemployment rate has fallen and no significant wage–price pressure has been evident. The discretionary impact of fiscal policy has on the whole been neutral – with the period 1993–5 being a possible exception, as a result of the so-called fiscal {\textquoteleft}kick start{\textquoteright} – so the upturn has mainly been driven by non-government demand. Also the track record of public finances has been good: the ratio of public debt–GDP has fallen considerably, and the budget turned into surplus in 1997. If it so wished, Denmark could join EMU by 1999.",

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year = "1999",

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pages = "193--224",

editor = "Andersen, {Torben M.} and {Hougaard Jensen}, {Svend E.} and Ole Risager",

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publisher = "Palgrave Macmillan",

address = "United Kingdom",

}

Government Solvency, Social Security and Debt Reduction in Denmark. / Pilegaard Hansen, Ninette; Hougaard Jensen, Svend E.; Junge, Martin.
Macroeconomic Perspectives on the Danish Economy. ed. / Torben M. Andersen; Svend E. Hougaard Jensen; Ole Risager. London: Palgrave Macmillan, 1999. p. 193-224.

Research output: Chapter in Book/Report/Conference proceeding › Book chapter › Research › peer-review

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