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| Author: | Lachman, D. |
| Title: | Budget deficits and the public debt in Sweden |
| Journal: | Staff Papers
1994 : SEP, VOL. 41:3, p. 502-516 |
| Index terms: | BUDGET DEBT SWEDEN |
| Language: | eng |
| Abstract: | Since the late 1980s, there has been an abrupt turnaround in Sweden's public finances. The present paper makes the case for the very early adoption of a policy of medium-term fiscal consolidation inSweden, notwithstanding the present relatively depressed state of the Swedish economy. It does so by examining the reasons why large public deficits and the buildup of public debt might be detrimental to future economic performance; by reviewing how the maintenance of large deficits might undermine credibility in markets. |
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