OECD economic surveys Sweden. 2012.

Format:

Book

Contributor:

Organisation for Economic Co-operation and Development.

Series:

OECD economic surveys, 0376-6438

OECD economic surveys. Sweden, 1995-3380 ; 2012

Language:

English

Subjects (All):

Metathesis (Chemistry)--Congresses.

Metathesis (Chemistry) -- Congresses.

Biosynthesis--Congresses.

Biosynthesis -- Congresses.

Catalysis--Congresses.

Catalysis -- Congresses.

Nanotechnology--Congresses.

Nanotechnology -- Congresses.

Sweden--Economic conditions--1945-.

Sweden.

Sweden--Economic policy.

Physical Description:

123 p. : col. ill.

Edition:

1st ed.

Place of Publication:

[Paris] : OECD, 2012.

Language Note:

English

Summary:

OECD's 2012 Economic Survey of Sweden examines recent economic developments, policy and prospects before taking a more detailed look at labour and social policies as well as housing and financial markets.

Contents:

Intro

Table of contents

Basic statistics of Sweden, 2011

Executive summary

Key policy recommendations

Assessment and recommendations

Key challenges

Figure 1. Sweden's growth performance has been strong

The economy is performing well but is facing risks

Growth is slowing down from high rates but should regain strength

Table 1. Short-term economic outlook

Labour market outcomes are good but some groups are at risk

Figure 2. Unemployment remains high

Figure 3. The foreign-born are not well integrated into the labour market

Income dispersion is low but has risen

Figure 4. Inequalities are low but rising

Figure 5. The tax and transfer system reduces inequality considerably

High household and corporate debt could lead to disruptive deleveraging

Figure 6. Household debt has increased

Figure 7. Real house prices have increased substantially

The banking system is large, concentrated and dependent on short-term wholesale funding

Figure 8. The banking system is large and concentrated

Macroeconomic and financial policies

Monetary policy for stability and growth

Figure 9. Inflation has fluctuated around the 2% target

Table 2. Inflation over the past 15 years in Sweden and the European Union

Enhancing financial stability

Upholding fiscal prudence while preserving the welfare system

Figure 10. Sweden's fiscal position is among the best OECD-wide

Figure 11. The pension replacement ratio will be low for average income earners

Figure 12. Efficiency gains could be achieved in health care

Box 1. Main recommendations for macroeconomic and financial policies

Labour market and social policies for greater inclusion

Combining supply-side and demand-side labour market policies

Figure 13. The minimum cost of labour is relatively high.

Improving the efficiency of support to the non-employed

Figure 14. Unemployment and inactivity traps are relatively high

Education policies to promote integration and ease transition to the labour market

Figure 15. PISA results are lower for students with an immigrant background

Further improving women's employment opportunities

Figure 16. The gender pay gap has remained constant in Sweden

Box 2. Main recommendations for labour market and social policies

Enhancing the efficiency of capital taxation and the housing market

Improving the design of capital taxation

Figure 17. Property taxation is low

Addressing the structural problems in the housing market

Figure 18. Price levels for housing investment are relatively high

Box 3. Main recommendations for enhancing the efficiency of capital taxation and the housing market

Raising the efficiency of climate change mitigation policies

Figure 19. Taxes on energy in Sweden are high

Box 4. Main recommendations for climate change mitigation policies

Bibliography

Annex A1. Progress in structural reforms

Chapter 1. Labour market and social policies to foster more inclusive growth

Inequalities are low but have increased

Figure 1.1. Inequality and relative poverty indicators in OECD countries

Box 1.1. Inequalities in Sweden along various dimensions

Figure 1.2. Inequality indicators for Sweden

Figure 1.3. The evolution of inequality and relative poverty in Sweden

Table 1.1. Average annual real disposable income growth per decile, by country

Table 1.2. Contributions of various income components to income growth per decile

Figure 1.4. The impact of taxes and transfers on income inequalities

Figure 1.5. The top 1% income share

Some groups perform less well on the labour market.

Figure 1.6. Labour market performance indicators in OECD countries

Figure 1.7. Unemployment rate in Sweden

Youth

Table 1.3. Scoreboard for youth aged 15-24

Box 1.2. Measuring the share of youth at risk of being left behind and poorly integrated

Figure 1.8. Estimated size of the group at risk: Left behind and poorly integrated after a temporary job

Immigrants

Figure 1.9. Permanent immigration flows by category of entry

Figure 1.10. Gaps in labour market performance between natives and foreign-born in OECD countries

Table 1.4. Characteristics of permanent residents by migration channel

The disabled and sick

Figure 1.11. Employment rates of people with disability and mental health problems

Figure 1.12. Evolution of the stock of recipients of sickness and disability benefits

Women

Figure 1.13. Female labour market outcomes

Figure 1.14. The glass ceiling

Figure 1.15. Main determinants of the gender pay gap in OECD countries

Figure 1.16. Concentration of female employment in certain sectors

Older workers

The earned-income tax credit provides stronger incentives to participate in the labour market

Entry thresholds in the labour market are high for some groups of workers

The minimum wage

Figure 1.17. Trade union density and collective bargaining coverage

Figure 1.18. Relative minimum cost of labour in OECD countries

Job protection legislation

Figure 1.19. Job protection legislation and temporary contracts

Figure 1.20. Characteristics of workers with temporary jobs

Table 1.5. One-year mobility of temporary workers

Figure 1.21. Characteristics influencing the mobility of temporary workers to permanent jobs

Box 1.3. Explaining the mobility of temporary workers in EU countries and in Sweden.

Table 1.6. Explaining the transitions from temporary to permanent jobs or unemployment

Support to the unemployed provides uneven social protection and incentives to take a job

Figure 1.22. Unemployed receiving unemployment insurance benefits

Box 1.4. Unemployment insurance in Sweden

Figure 1.23. Inactivity and unemployment traps in 2010

Job-search monitoring and the efficiency of ALMPs can be strengthened further

Figure 1.24. Public expenditure on active labour market policies in OECD countries

Box 1.5. Targeting youth risking long-lasting social exclusion

Figure 1.25. Overall strictness of eligibility criteria for unemployment benefit

The education system has a key role to play

Figure 1.26. Gap in learning outcomes at age 15 between natives and foreign-born

Box 1.6. Improving vocational education and training in Sweden

Access to health care could be made more equal

Table 1.7. Health status indicators

Women's employment opportunities could be improved further

Conclusions

Box 1.7. Key labour market and social policy recommendations to make growth more inclusive

Annex 1.A1. Labour market and education measures recently proposed by the government

Chapter 2. Housing, financial and capital taxation policies to ensure robust growth

Sweden is well placed to achieve robust growth but faces some challenges

Figure 2.1. GDP per capita gap between Sweden and the highest-income OECD economies

The increase in house prices partly reflects structural problems

Figure 2.2. Housing market developments

Figure 2.3. Regional real house prices

Figure 2.4. Construction prices and costs

Box 2.1. Main features of the housing market and recent reforms

Figure 2.5. New construction of dwellings by tenure

High household and corporate debt create vulnerabilities.

Figure 2.6. Household debt

Box 2.2. Consumption and wealth

Table 2.1. Short-term and long-term impact of wealth on consumption

Figure 2.7. Housing market and household indebtedness

Figure 2.8. Household assets

Figure 2.9. Types of loans, as a share of mortgages

Addressing potential risks in the banking sector

The banking system is large and concentrated

Figure 2.10. The size of the banking system

Box 2.3. The four major banks have different business models

Table 2.2. Characteristics of the major banks, end-2011

Financial supervision tools can be further strengthened

Figure 2.11. Private credit growth

Figure 2.12. Risk weight of mortgages under Basel II

The institutional set-up and crisis management tools should be enhanced

Box 2.4. Institutional set-up of financial supervision and crisis management

Improving the efficiency of capital taxation

Box 2.5. The rise in top incomes

Table 2.3. Distribution of income and taxes, 2009

Property taxation

Figure 2.13. Property taxation

Figure 2.14. Gap between market interest rate and after-tax debt financing cost

Financial capital taxation

Box 2.6. Key recommendations on housing, financial stability and capital taxation policies

Bibliography.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-18878-9

OCLC:

827207960