Reforming the Fiscal Framework. The Case of Sweden 1973-2013

Arbeitspapier

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Paper ; No. 2014:26

Classification and Topics

• Classification: Wirtschaft ; Monetary Policy ; Fiscal Policy ; Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy ; Studies of Particular Policy Episodes ; International Business Cycles ; National Deficit; Surplus ; Economywide Country Studies: Europe
• Subject: Fiscal rules ; fiscal policy council ; fiscal policy ; policy learning ; Sweden

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Jonung, Lars
• Event: Veröffentlichung
• (who): Lund University, School of Economics and Management, Department of Economics
• (where): Lund
• (when): 2014

Further information

• Handle: http://hdl.handle.net/10419/260123
• Last update: 10.03.2025, 11:43 AM CET