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Reform Capacity and Macroeconomic Performance in the Nordic Countries$
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Torben M. Andersen, Michael Bergman, and Svend E. Hougaard Jensen

Print publication date: 2015

Print ISBN-13: 9780198717102

Published to Oxford Scholarship Online: March 2015

DOI: 10.1093/acprof:oso/9780198717102.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 27 October 2021

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.

Keywords:   efficiency, equity, redistribution, insurance, incentives, active labour market policies, social safety net

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