The Great Recession has revived aggregate demand management policies. In particular, automatic stabilizers are praised since they are rule based and thus operate swiftly and symmetrically across the cycle. However, automatic stabilizers are not a result of macro design but the structure of the...

"The Danish Economy in a Global Context provides a general introduction to economic developments, institutions and policies in Denmark. A number of topical policy issues, such as retirement, education and globalisation, are discussed in a non-technical fashion. The text takes a global...

1. The Danish economy in an international perspective; 2. National income accounts concepts and measures; 3. Business Cycles, stabilisation policy, and sustainability of fiscal policy; 4. Financial markets and monetary policy; 5. International economic integration and the external balance; 6. The...

"Important labour market consequences of globalization may arise via product market integration which affects the room for wage negotiations and generates job creation and destruction through structural changes. We find in a Ricardian trade model that aggregate increases in wages and employment...