- Page 1 and 2: The Nordic Model Embracing globaliz
- Page 3: ETLA B232 ISBN 978-951-628-468-5 IS
- Page 7 and 8: economic policy discussions. In 199
- Page 9 and 10: 4.5 Easy fixes? 75 4.6 Save or adju
- Page 12 and 13: 1 INTRODUCTION AND SUMMARY The Nord
- Page 14 and 15: The incentives and the balance betw
- Page 16 and 17: 1.2 THE NORDIC MODEL HAS PERFORMED
- Page 18 and 19: The Nordics are open to globalizati
- Page 20 and 21: 1.4 MAJOR CHALLENGES TO THE NORDIC
- Page 22 and 23: Public finances are presently recor
- Page 24 and 25: More children may be desirable - bu
- Page 26 and 27: 1.7 PRIVATIZATION AND/OR OUTSOURCIN
- Page 28 and 29: Net contribution to the public sect
- Page 30 and 31: e important for public authorities
- Page 32 and 33: 2 THE NORDIC MODEL: MYTH OR REALITY
- Page 34 and 35: Governments used to have a hands-on
- Page 36 and 37: cism of (interventionist) policy fa
- Page 38 and 39: Openness to globalization and liber
- Page 40 and 41: Nordic egalitarian ambitions have d
- Page 42 and 43: incentive effects of social securit
- Page 44 and 45: The key: Openness creates the poten
- Page 46 and 47: 3 THE PERFORMANCE OF THE NORDIC MOD
- Page 48 and 49: ecause of the high rate of labour f
- Page 50 and 51: The Annex to this chapter contains
- Page 52 and 53: The Nordics spend a lot on educatio
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Table 3.1 Venture capital investmen
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Social mobility is higher in the No
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stability but also economic growth
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capital to GDP growth, since the mi
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ENDNOTES 1 It is occasionally argue
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4 DEMOGRAPHICS: FROM TAIL-WIND TO H
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1000 EUR 1000 EUR 20 10 20 10 0 0 -
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Mexico Korea Japan* Greece Slovak R
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4.2 AGEING - THE TREND IS TURNING T
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the late 1940s and the 1950s and th
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% of GDP % of GDP 1 0 -1 -2 -3 -4 1
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Many people want to retire early -
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Economic growth is important - but
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Current budget surpluses are sizeab
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ENDNOTES 1 The general government p
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5 WELFARE SERVICES: RISING COSTS AN
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clothes, shelter etc.) are provided
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the problem of how to define, provi
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Does the welfare state undermine in
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sion of welfare services. This is a
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it is debatable whether such a deve
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USA Ireland United Kingdom Portugal
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A rise in tax rates will increase t
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% 85 80 75 70 65 60 55 1960 65 70 7
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ENDNOTES 1 As an example, public ex
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6 THE LABOUR MARKET: ENOUGH WORKERS
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2 a sufficient amount of average ho
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Prime age males do not work much mo
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eplacement rates of unemployment be
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High taxes and many public policies
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negative (and statistically signifi
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Active labour market policy: poor r
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of politicians nor those of the vot
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7 WAGE BARGAINING WITH MORE FLEXIBI
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Decentralization of pay bargaining
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Most of pay is in Denmark and Swede
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Percentile ratios 2.6 2.4 2.2 2.0 1
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Insufficient wage flexibility in Fi
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Both the welfare state and macroeco
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ENDNOTES 1 The modern theory of equ
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8 THE PROPER SCOPE OF THE PUBLIC SE
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Private enterprise is all about pro
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The option to exit drives competiti
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Exit options are the crucial differ
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Adverse selection problems explain
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The government has exceptional righ
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With this kind of productivity grow
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objective, egalitarian criteria whe
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Quality is a source of concern but
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PPPs are not a panacea - the contra
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tail end. Vouchers are allowed to b
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· Because the public sector is cha
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9 GUIDELINES FOR REFORM Our purpose
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Cap the welfare state and enhance e
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their increasing costs. There is no
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Dickens, W.T., Götte, L., Groshen,
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Rothschild, M. and Stiglitz, J. (19