Full title: Denmark : 2016 / OECD.

Author/creator: Organisation for Economic Co-operation and Development.

Date: ©2016.

Call Numbers:

Record Identifier: 74VKVpqbGBx3

Language: English

Formats: ebooks

Contents: 1 online resource (126 pages)., , , , Intro -- Table of contents -- Basic statistics of Denmark, 2014 -- Executive summary -- High living standards but slow growth -- Productivity and economic growth lag behind OECD best performers -- New structural reforms to improve the balance between inclusiveness and work incentives needed -- Social spending is high -- Current monetary conditions call for more action in prudential policy -- Households hold large balance sheets and their debt is among the highest in OECD -- Assessment and recommendations -- Annex. Progress in structural reforms -- Fiscal policy -- Financial system -- Labour market -- Integration of migrants -- Education and skills -- Competition -- Entrepreneurship and innovation -- Climate change -- Figure 1. Denmark scores well in OECD's Better Life Index -- Figure 2. GDP growth has been weak though other measures paint a better picture -- Figure 3. Lagging productivity growth -- Box 1. Areas for reviving productivity growth -- Economic prospects have improved recently -- Table 1. Macroeconomic indicators and projection -- Figure 4. Recent macroeconomic developments -- Figure 5. Current account at a historical high -- Figure 6. Danish and Swiss central banks' foreign reserves -- Box 2. Shocks that might affect economic performance -- Figure 7. Potential macro-financial vulnerabilities have diminished -- Monetary conditions are very accommodative -- Figure 8. Housing market is volatile and poses a risk -- Figure 9. Household indebtedness is high and decreasing only marginally -- Figure 10. The financial sector is well capitalised -- Fiscal policy is sustainable but could let automatic stabilisers work more freely -- Figure 11. Property taxation does not fluctuate with house prices -- Balancing inclusiveness, work incentives and sustainability in an ageing society -- Figure 12. Inequality is low but has risen., Figure 13. Social spending is high and has increased -- Box 3. The flexicurity labour market model -- Figure 14. The core elements of the flexicurity model -- Box 3. The flexicurity labour market model (cont.) -- Figure 15. Flexicurity supports high turnover rates and low structural unemployment -- Box 4. Recent reforms of social institutions -- Figure 16. The number of social assistance recipients has risen since the crisis -- Figure 17. Scope for increasing employment is particularly high among immigrants -- Figure 18. Inequality between foreign-born and native-born is high -- Figure 19. Substantial employment gap between native and foreign origin youth -- Table 2. Spending projections on health care and long term care -- Cost effective policies to manage environmental pressures -- Figure 20. Emissions are low and renewables play an important role -- Figure 21. Other sustainability issues remain -- Progress in structural reforms -- Thematic chapters -- Chapter 1. Macroeconomic and financial risks -- Eliminating debt bias towards housing requires policy change -- Figure 1.1. Housing market is volatile and poses a risk -- Figure 1.2. Housing expenditures1 in OECD countries -- Figure 1.3. Taylor rule estimated interest rates -- Figure 1.4. Private rental market across OECD countries -- Figure 1.5. Property taxation does not fluctuate with house prices -- Household indebtedness increases consumption volatility -- Figure 1.6. Gross household debt to income ratio -- Debt is high, but affordable -- Figure 1.7. Household assets and liabilities -- Figure 1.8. Lending to households by type of loans -- Figure 1.9. Distribution of the gross debt across income deciles -- Risks in the financial sector should be addressed now -- Figure 1.10. Potential macro-financial vulnerabilities have diminished -- Figure 1.11. Financial sector assets as a % of GDP., Box 1.1. Covered bonds at the heart of the Danish financial system -- Figure 1.12. The financial sector is well capitalised -- Box 1.2. Scope for improving the crisis management and resolution regime -- Figure 1.13. Non-performing loans -- Figure 1.14. Short-term policy and lending rates -- Figure 1.15. Pension funds returns and assets allocation -- Resource misallocation and increasing inequalities undermine inclusive growth -- Figure 1.16. Simulated effect of a larger financial sector on household disposable income -- Figure 1.17. Capital income has contributed to the increase in inequality -- Figure 1.18. Residential mobility is high -- Chapter 2. Getting the incentives right in an ageing society -- Figure 2.1. Social spending and inactivity have increased over the past decade -- Addressing barriers to employment for benefit recipients -- Figure 2.2. Social institutions account for a large share of public spending -- Box 2.1. Recent reforms of social institutions -- Box 2.1. Recent reforms of social institutions (cont.) -- Figure 2.3. Number of social assistance recipients has risen since the crisis -- Figure 2.4. Scope for increasing employment is particularly high among immigrants -- Box 2.2. The Danish unemployment insurance benefit system -- Figure 2.5. Generous social assistance is combined with relatively high effective taxation -- Box 2.3. Recent legislative changes for immigration and asylum seekers -- Box 2.3. Recent legislative changes for immigration and asylum seekers (cont.) -- Figure 2.6. Denmark receives less asylum seekers than Nordic neighbours -- Figure 2.7. Inequality between foreign-born and native-born is high -- Figure 2.8. Employment gap persists across generations and has widened -- Box 2.4. Impact of immigration on public finances in Denmark -- Figure 2.9. Employment rates of migrants improve with time., Easing expenditure pressures on social institutions -- Figure 2.10. Structural reforms1 to help cope with ageing according to national projections -- Box 2.5. Assessing the impact of reforms on potential growth and labour force -- Table 2.1. Projections for labour supply of the Danish government, OECD and European Commission -- Box 2.6. The Danish pension system: main features and reforms -- Figure 2.11. Gross pension levels and replacement rates are high -- Box 2.6. The Danish pension system: main features and reforms (cont.) -- Figure 2.12. The pension reforms have already an impact on employment rates of older workers -- Figure 2.13. Pension savings of low-income earners are heavily taxed -- Figure 2.14. Spending on health and long-term care is high -- Table 2.2. The range of healthcare and long-term care spending projections is large -- Figure 2.15. Large efficiency gains are possible in the healthcare and the long-term care sectors -- Figure 2.16. Spending on health prevention is largely unchanged -- Figure 2.17. The retail market for pharmaceuticals is more concentrated than in most OECD countries -- Figure 2.18. Co-payments are quite low in the healthcare and the long-term care sectors -- Recommendations to sustain effective social institutions.

Publishers: Paris : OECD Publishing, [2016]

Notes: OECD Economic Surveys

Permalink: https://collection.sl.nsw.gov.au/record/74VKVpqbGBx3

DDC: 338.948

MMS ID: 991023984005102626