- Title Pages
- List of Figures
- List of Tables
- List of Contributors
- 1 Macroeconomic Perspectives on the Nordic Economies
- 2 Collective Risk Sharing
- Comments on ‘Collective Risk Sharing’
- 3 Missing the Link?
- Comments on ‘Missing the Link?’
- 4 Labour Market Policies in Denmark
- Comments on ‘Labour Market Policies in Denmark’
- 5 What Scope for Monetary Policy?
- Comments on ‘What Scope for Monetary Policy?’
- 6 Monetary Policy and Exchange Rate Stabilization in Norway and Sweden
- Comments on ‘Monetary Policy and Exchange Rate Stabilization in Norway and Sweden’
- 7 House Prices in Denmark and Sweden
- Comments on ‘House Prices in Denmark and Sweden’
- 8 Reforming the Fiscal Framework
- Comments on ‘Reforming the Fiscal Framework’
- 9 Shaping the Fiscal Policy Framework
- Comments on ‘Shaping the Fiscal Policy Framework’
- 10 A Crisis Not Wasted
- Comments on ‘A Crisis Not Wasted’
- 11 Finland and Sweden in a Cross-Country Comparison
- Comments on ‘Finland and Sweden in Cross-Country Comparison’
- 12 Iceland
- Comments on ‘Iceland’
- 13 Challenges to the Nordic Model
Collective Risk Sharing
Collective Risk Sharing
The Social Safety Net and Employment
- (p.26) 2 Collective Risk Sharing
- Reform Capacity and Macroeconomic Performance in the Nordic Countries
Torben M. Andersen
- Oxford University Press
This chapter addresses the question of how the Nordic countries have been able to achieve both high incomes and an egalitarian distribution hereof. According to traditional reasoning ambitious redistributive policies and an extended welfare state come at the cost of distorted incentives and thus a reduced economic efficiency. A key to explain the Nordic performance is the fact that welfare arrangements not only play a role in terms of redistribution but also in terms of insurance. The latter is associated with direct welfare gains and may also be conducive to a more flexible economy. Disincentive effects of the social safety net are mitigated by eligibility criteria with an active focus on job search and employment.
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