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Lars Jonung. Photo.

Lars Jonung

Professor emeritus

Lars Jonung. Photo.

Ekonomiska kriser och krisberedskap i Sverige

Author

  • Lars Jonung

Summary, in English

This study discusses economic crises and crisis preparedness in Sweden. The message may be summarized in four points: (i) economic crises are a recurrent element in Swedish economic history, (ii) economic crises have far-reaching political effects, (iii) economic crises change the design of economic policies and institutions, and (iv) new crises will occur in the future. A major method to prepare for the next financial crisis is to have sufficient fiscal space given by a government debt-to-GDP ratio of 20-30 percent, lower than the present debt ratio. Such a debt anchor will make it possible to counter the next financial crisis by expansionary fiscal policy.

Department/s

  • Department of Economics

Publishing year

2019-06

Language

Swedish

Pages

1-13

Publication/Series

Knut Wicksell Policy paper

Volume

1: 2019

Document type

Working paper

Publisher

Knut Wicksell Centre for Financial Studies, Lund University

Topic

  • Economics

Keywords

  • Economic crisis
  • financial crisis
  • crisis preparednes
  • fiscal policy
  • Sweden
  • G01
  • H12
  • H63

Status

Published