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Macroeconomic Perspectives on the Danish Economy: Problems, Policies and Prospects

In: Macroeconomic Perspectives on the Danish Economy

Author

Listed:
  • Torben M Andersen
  • Svend E Hougaard Jensen
  • Ole Risager

Abstract

Countries are often ranked according to their GDP per capita, properly adjusted for differences in price levels. Based on the purchasing power parity (PPP) adjusted GDP statistics, Denmark is one of the most affluent societies in the world. Compared to the EU average and the OECD average, Denmark was, respectively, 12 and 9 per cent ahead in 1995, and only a few countries B including Luxembourg, Norway, Switzerland and the United States – had a higher GDP per capita (The Economist, 1997). The level of real GDP was in 1997 about three times as large as in 1950 and, from the perspective of economic welfare, it is also important to note that over the same time period the average annual working hours have fallen by about a third. However, Denmark’s GDP growth rate has been slightly lower than in a number of other countries. Figure 1.1 shows real GDP for Denmark, (the average of) 15 EU countries and the United States; in all three cases real GDP is indexed to 100 in 1960.

Suggested Citation

  • Torben M Andersen & Svend E Hougaard Jensen & Ole Risager, 1999. "Macroeconomic Perspectives on the Danish Economy: Problems, Policies and Prospects," Palgrave Macmillan Books, in: Torben M Andersen & Svend E Hougaard Jensen & Ole Risager (ed.), Macroeconomic Perspectives on the Danish Economy, chapter 1, pages 1-39, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-50103-4_1
    DOI: 10.1057/9780230501034_1
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    Cited by:

    1. Steigum, Erling & Thøgersen, Øystein, 2013. "A crisis not wasted – Institutional and structural reforms behind Norway’s strong macroeconomic performance," Discussion Paper Series in Economics 18/2013, Norwegian School of Economics, Department of Economics.

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