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Eurosclerosis or Financial Collapse :, Why Did Swedish Incomes Fall Behind?, Valerie Cerra, Sweta Saxena

Contributor
Abstract
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
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. THE SWEDISH ECONOMIC MODEL""; ""III. EVIDENCE ON GROWTH AND REDISTRIBUTION""; ""IV. THE DEBATE ON SWEDEN�S RANKING OF INCOME PER CAPITA""; ""V. ECONOMETRIC ANALYSIS OF OUTPUT LOSS""; ""VI. CONCLUSIONS""; ""References""
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (26 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781462383139

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