Turning Sweden Around

Assar Lindbeck, Per Molander, Torsten Persson, Olof Petersson, Agnar Sandmo

What lessons does the current economic crisis in Sweden offer for other economies? Written in a clear and precise style, and using modern theories of macroeconomics and economic situation, Turning Sweden Around outlines recommendations for change that are both unusual and provocative. Combining economic and political analysis, it covers wide-ranging areas and broad structural issues that encompass the necessity for institutional reforms as well as economic change. The plunge in Sweden's economy has taken many by surprise, showing how much more vulnerable Sweden has been to macroeconomic disturbance than previously believed. Since 1990, industrial output has fallen dramatically, total unemployment has grown to 12 percent, the public sector deficit is 13 percent of GDP, and since the country shifted to a floating exchange rate, the krona has depreciated by more than 20 percent. The...

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