Fiscal Frameworks and Fiscal Sustainability in the Nordics Webinar 3 april

/ Nyhetskategori: Allmänt
Lars Calmfors

Lars Calmfors. Foto: Nordregio

Open webinar Friday April 3rd, 9.30 -11.30.
Most advanced economies face considerable future fiscal challenges because of an ageing population. This also applies to the Nordics where generous welfare systems are likely to aggravate the problems. All Nordic countries analyse the long-term sustainability of their fiscal policy. As the raging corona crisis will imply huge deteriorations of public finances, fiscal sustainability analyses will become more important than ever in the future.
The Nordic countries have strict fiscal frameworks in order to guarantee responsible fiscal policy. An important objective is to secure the fiscal room of manoeuvre in crises like the current one. All Nordic countries except Norway have established independent fiscal councils to monitor fiscal policy.


In this webinar, a new report, commissioned by the Nordic Council of Ministers and written by Lars Calmfors, will be presented and discussed. The report reviews and compares the fiscal frameworks in the Nordic countries. It analyses the methods for judging fiscal sustainability and evaluates the sustainability analyses made by ministries of finance and other institutions. The aim of the report is that the Nordic countries should be able to learn from each other in this field.


9.30-9.35 Introduction: Harry Flam, Fiscal Policy Council and Stockholm University (moderator)


9.35-9.40 Background to the project: Anders Hedberg, Nordic Council of Ministers


9.40-10.10 Presentation of the report: Lars Calmfors, Research Institute of Industrial Economics and Stockholm University


10.10-10.50 Panel discussion: A Nordic Perspective on fiscal frameworks and fiscal sustainability: Carl-Johan Dalgaard, Danish Economic Councils and University of Copenhagen; Yngvar Dyvi, Norwegian Ministry of Finance; Jouku Vilmunen, Finnish Economic Policy Council and University of Turku; Lars Calmfors


10.50-11.30 Panel discussion: The fiscal framework and fiscal sustainability in Sweden: Göran Hjelm, National Institute of Economic Research; Pär Österholm, Swedish Fiscal Policy Council and Örebro University; Lars Calmfors


”In the Nordics, the future challenges to public finances arising from ageing populations are compounded by generous welfare states. This  has motivated both strict fiscal frameworks and ambitous fiscal sustainability analyses by ministries of finance and other institutions.


My report reviews and compares these arrangements in the Nordic countries. The raging corona crisis will make fiscal sustainability analyses more important than ever in the future.”


-Lars Calmfors, author