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Preparing for the next crisis: Lessons from the successful Swedish fiscal framework

Andersson, Fredrik N G LU and Jonung, Lars LU (2021) p.69-101
Abstract
Ever since the international financial crisis of 2007/08, Sweden stands out
as a country with a prudent and sustainable national debt policy. Debt rises
during recessions and crises only to fall back during times of growth. A low
debt level before a major crisis allows Sweden to increase its public debt
and support the economy during a crisis without risking a fiscal crisis. The
strength of the Swedish public finances raises three questions: First, what are
the determinants behind this strong performance; second, is the framework
sustainable for the future; and third, are there any lessons for other countries?
Please use this url to cite or link to this publication:
author
and
organization
publishing date
type
Chapter in Book/Report/Conference proceeding
publication status
published
subject
keywords
fiscal policy, fiscal policy framework, Sweden, fiscal crisis, Covid-19 pandemic
host publication
Public debt sustainability: International perspectives
editor
Poulson, Barry W. ; Merrifield, John and Hanke, Steve
pages
69 - 101
publisher
Lexington Books
ISBN
9781666902563
language
English
LU publication?
yes
id
34550776-883f-4a3d-81a4-031415a08226
date added to LUP
2021-10-06 07:19:55
date last changed
2023-02-03 13:57:04
@inbook{34550776-883f-4a3d-81a4-031415a08226,
  abstract     = {{Ever since the international financial crisis of 2007/08, Sweden stands out <br/>as a country with a prudent and sustainable national debt policy. Debt rises <br/>during recessions and crises only to fall back during times of growth. A low <br/>debt level before a major crisis allows Sweden to increase its public debt <br/>and support the economy during a crisis without risking a fiscal crisis. The <br/>strength of the Swedish public finances raises three questions: First, what are <br/>the determinants behind this strong performance; second, is the framework <br/>sustainable for the future; and third, are there any lessons for other countries?}},
  author       = {{Andersson, Fredrik N G and Jonung, Lars}},
  booktitle    = {{Public debt sustainability: International perspectives}},
  editor       = {{Poulson, Barry W. and Merrifield, John and Hanke, Steve}},
  isbn         = {{9781666902563}},
  keywords     = {{fiscal policy; fiscal policy framework; Sweden; fiscal crisis; Covid-19 pandemic}},
  language     = {{eng}},
  month        = {{11}},
  pages        = {{69--101}},
  publisher    = {{Lexington Books}},
  title        = {{Preparing for the next crisis: Lessons from the successful Swedish fiscal framework}},
  year         = {{2021}},
}