The paper analyses theoretically what role fiscal councils could play and surveys empirically the activities of existing councils. Case studies of the Swedish Fiscal Policy Council and the UK Office for Budget Responsibility are done. It is concluded that fiscal councils should be advisory,...

In this book, first-rate international scholars in the field explore the role that unions are likely to play in the changed economic environment of the new century. Questions discussed include: What will unions look like in the years to come? Which kind of interest groups will they represent?...

The paper analyzes the effects of a reduction in working time on wages and employment with a monopoly union. In general it is not clear in which directions these variables move, but if employment and working time are perfect substitutes, the effects are related to how working time has been...

In 2005 the world economy still developed strongly, but, with GDP growth of 41/2 percent, at a somewhat slower pace than in 2004. Developments still differed substantially among major regions. Whereas output continued to increase in a robust and strong manner in the US and it showed a clear...

The issue of low-wage competition in services trade involving posted workers is controversial in the EU. Using Swedish survey data, people's attitudes are found to be more negative to such trade than to goods trade. The differences depend on both a preference for favouring social groups to which...

The Swedish Fiscal Policy Council (FPC) set up in 2007 is one example of the recent international trend to create independent fiscal watchdogs. The FPC has established itself as an important participant in the Swedish economic policy discussion. The FPC has small resources and a broad remit...

Global economic conditions have deteriorated considerably since summer 2011. Europe in particular has been obliged to revise its growth expectations sharply downwards. The debt crisis and its consequences have stifled demand worldwide, even impacting regions that have long been developing...