| Description |
1 online resource (35 pages) : illustrations |
| Series |
IMF country reports ; 13/273 |
| Contents |
Cover; CONTENTS; LONG-TERM COMPETITIVENESS IN NORWAY; A. Introduction; FIGURES; Figure 1.1. Unit Labor Costs; B. Trade Structure; Figure 1.2. Structural Non Non-oil Deficit; Figure 1.3. Composition of Exports; Figure 1.4. Goods Trade Balances; Figure 1.5. Terms of Trade; Figure 1.6. Share of Tradable Sector in Gross Value Added; TABLES; Table 1.1. Norway: Exports Destination by Decade; C. Cost Competitiveness Measures and Labor Productivity; Figure 1.7. Norway Trading Partners Covering 90% of Trade; Figure 1.8. Real Effective Exchange Rates; Figure 1.9. REER REER-CPI based |
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Figure 1.10. REER REER-ULC BasedFigure 1.11. Change in REER REER-ULC based, 1995 1995-2012; Figure 1.12. Change in Price of Gross Value Value-Added by Sector, 2000 2000-12; Figure 1.13. ULC Sub Sub-Component; Figure 1.14. Contributions to Unit Labor Cost Change; D. Market Share and Divergent Trends within the Mainland Economy; Figure 1.15. Contributions to Unit Labot Cost Changes, 2000 2000-2012; Figure 1.16. Actual Hours Worked Per Employee, 2000 2000-2012; Figure 1.17. Norway: Market Share; Figure 1.18. Norway's Manufacturing Exports: 1990-2011 |
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Figure 1.19. Norway's Manufacturing Exports: 1990-2011Figure 1.20. Manufacturing Production; E. Conclusion; Figure 1.21. Wage Shares; HOUSEHOLD BALANCE SHEETS IN NORWAY; A. Introduction; Figure 2.1. Household Gross Debt; Figure 2.2. Real House Price in Norway and OECD Average; B. Are House Prices Overvalued in Norway?; Figure 2.3. Estimates of House Price Valuation Gaps; BOXES; Box 2.1. Factors Contributing to House Price Increases in Norway; C. Do Households Have Sufficient Buffers?; Figure 2.4. Household Assets and Liabilities, 2011; Figure 2.5. Norway: Composition of Household Assets, 2011 |
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Figure 2.6. Household Net Worth and Liquidity BufferD. How Are Assets and Liabilities Distributed Across Households?; Box 2.2. Micro Data on Household Balance Sheets; Figure 2.7. Household Debt by Income Deciles; Figure 2.8. Household Balance Sheets by Income Deciles in 2010; Figure 2.9. Households with Debt Burden of 500 Percent of Income; E. Conclusion; Figure 2.10. Distribution of LTV for New Loans; LONG-RUN FISCAL CHALLENGES; A. Introduction; Figure 3.1. Norway: Production, Reserves, and Exports of Gas and Oil; B. Resource Wealth and the Fiscal Rule; Figure 3.2. Petroleum Resources |
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C. Challenges to the GPFG and the Long-Term Fiscal OutlookFigure 3.3. Non Non-oil Fiscal Transfer; Figure 3.4. Norway: Scenario Analysis; Figure 3.5. Evolution of Real Returns of GPFG; Box 3.1. Long-run Cross-Country Performance of Various Asset Classes; Figure 3.6. Combined Scenarios cenarios; Table 3.1. Summary of Scenario Results; Figure 3.7. Pressures on Aging and Health Related Costs; Figure 3.8. Age-Related Expenditures Relative to GPFG Transfers; D. Conclusion; Figure 3.9. Net Fiscal Impact; REFERENCES |
| Summary |
This paper focuses on Norway's 2013 Article IV Consultation on economic policies to enhance long-term competitiveness. The success of the oil sector has created new competitiveness challenges. The IMF report states that rapid increases in oil wealth are also adding further pressures on the economy despite sound oil revenue management anchored by a fiscal rule. It also highlights that a slower rate of spending could better align the expected fiscal transfers with the expected long run aging- related costs that peak only after oil production is largely over |
| Bibliography |
Includes bibliographical references |
| Notes |
Online resource; title from PDF title page (ebrary, viewed November 7, 2013) |
| Subject |
Fiscal policy -- Norway
|
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Economic history
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Fiscal policy
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| SUBJECT |
Norway -- Economic conditions.
http://id.loc.gov/authorities/subjects/sh85092640
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| Subject |
Norway
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| Form |
Electronic book
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| Author |
International Monetary Fund.
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| ISBN |
9781484332481 |
|
1484332482 |
|
9781475528862 |
|
1475528868 |
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