Swedish public finances have shown considerable cycles, in response to economic activity, during the last decades. The budget cycles have been asymmetric in the sense that surpluses during expansions have been smaller than deficits during recessions. This has lead to a trend increase in public...

If Sweden becomes member of the European currency union, the conditions for fiscal policy will change. The stabilization policy objectives will, however, hardly change with a membership. At the same time it is not clear if the need for stabilizing the Swedish economy will increase or decrease....

In the late 1990s the Swedish budget process and fiscal framework were thoroughly reformed, and in 2006 the new system had been in place for eight years. The aim of this paper is to describe this system, with an emphasis on expenditure ceilings, and to discuss the experiences gained so far. The...