Incomes policy – Danish style
In the post-war period, under the Bretton Woods regime of fixed exchange rates, Danish economic policy followed a zigzag course. With employment low and balance-of-payments satisfactory, expansionary measures were taken. However, once expansion had gathered momentum the threat of balance-of-payments...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2014-02-01
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| Series: | PSL Quarterly Review |
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| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/11677 |
| _version_ | 1811172493551992832 |
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| author | J. PEDERSEN |
| author_facet | J. PEDERSEN |
| author_sort | J. PEDERSEN |
| collection | DOAJ |
| description | In the post-war period, under the Bretton Woods regime of fixed exchange rates, Danish economic policy followed a zigzag course. With employment low and balance-of-payments satisfactory, expansionary measures were taken. However, once expansion had gathered momentum the threat of balance-of-payments deficit re-emerged and the process was reversed, resulting in a rise in unemployment. In an attempt to explain this phenomenon the Radical Party proposed the “income-race theory”, suggesting a need for co-ordination of group interests in order to achieve financial stability and a just distribution of income. The present work analyses the income-race theory and the establishment of the Council for Economic Coordination that it inspired. The author considers the Council’s scope, its policy recommendations and their impact in resolving Denmark’s incomes policy problem.
JEL: E24, E25, E64, F32
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| first_indexed | 2024-04-10T17:32:06Z |
| format | Article |
| id | doaj.art-20eda7b536e74ec6a285204363580f03 |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-04-10T17:32:06Z |
| publishDate | 2014-02-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-20eda7b536e74ec6a285204363580f032023-02-03T16:44:00ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432014-02-01176910.13133/2037-3643/11677Incomes policy – Danish styleJ. PEDERSENIn the post-war period, under the Bretton Woods regime of fixed exchange rates, Danish economic policy followed a zigzag course. With employment low and balance-of-payments satisfactory, expansionary measures were taken. However, once expansion had gathered momentum the threat of balance-of-payments deficit re-emerged and the process was reversed, resulting in a rise in unemployment. In an attempt to explain this phenomenon the Radical Party proposed the “income-race theory”, suggesting a need for co-ordination of group interests in order to achieve financial stability and a just distribution of income. The present work analyses the income-race theory and the establishment of the Council for Economic Coordination that it inspired. The author considers the Council’s scope, its policy recommendations and their impact in resolving Denmark’s incomes policy problem. JEL: E24, E25, E64, F32 https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/11677Fixed exchange ratesbalance of payments deficitunemploymentincome-race theorypolicyDenmark |
| spellingShingle | J. PEDERSEN Incomes policy – Danish style PSL Quarterly Review Fixed exchange rates balance of payments deficit unemployment income-race theory policy Denmark |
| title | Incomes policy – Danish style |
| title_full | Incomes policy – Danish style |
| title_fullStr | Incomes policy – Danish style |
| title_full_unstemmed | Incomes policy – Danish style |
| title_short | Incomes policy – Danish style |
| title_sort | incomes policy danish style |
| topic | Fixed exchange rates balance of payments deficit unemployment income-race theory policy Denmark |
| url | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/11677 |
| work_keys_str_mv | AT jpedersen incomespolicydanishstyle |