{
  "title": "Denmark: Selected Issues",
  "publication": "IMF Staff Country Reports, June 20, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/06/20/denmark-selected-issues-46002",
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  "summary": "This Selected Issues paper analyzes investment slowdown in Denmark. The post-global financial crisis (GFC) weakness in Denmark’s aggregate investment cannot be fully explained by the output slowdown.",
  "sections": [
    {
      "heading": "Investment trends and empirical findings",
      "content": "- Post-global financial crisis (GFC) weakness in Denmark’s aggregate investment cannot be fully explained by the output slowdown.\n- Baseline accelerator model findings:\n  - Output slowdown played a role in the investment decline.\n  - Post-GFC investment has fallen beyond the level explained by output movements in most of the post-GFC period.\n  - Most recently, investment converged to the level explained by output movements.\n- Augmented accelerator model findings:\n  - Additional factors had a significant impact on investment, including:\n    - High leverage\n    - Weak competition\n    - Elevated policy uncertainty\n- Panel regressions using a panel of advanced economies show:\n  - Reduction in leverage can boost investment in the medium term.\n  - Product market reforms can boost investment in the medium term."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Well-designed policies are needed to boost private investment.\n- Policy directions implied by analysis:\n  - Implement measures to reduce leverage in the corporate sector.\n  - Pursue product market reforms to strengthen competition.\n  - Reduce policy uncertainty to support investment recovery."
    },
    {
      "heading": "Keywords and topical focus (as presented in the source)",
      "content": "- asset, Asset prices, Commodity markets, Consumption, CR, exit tax, firm, Global, high-tech firm, IMF staff calculation, Income, interest rate, interest rate shock, investment, investment slowdown, ISCR, Pension spending, product market reform, tax rate\n\nSource: Denmark: Selected Issues, IMF Staff Country Reports, June 20, 2018.\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: June 20, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484362556.002",
    "Post-global financial crisis (GFC) weakness in Denmark’s aggregate investment cannot be fully explained by the output slowdown.",
    "Baseline accelerator model findings:",
    "Augmented accelerator model findings:",
    "Panel regressions using a panel of advanced economies show:",
    "Well-designed policies are needed to boost private investment.",
    "Policy directions implied by analysis:",
    "asset, Asset prices, Commodity markets, Consumption, CR, exit tax, firm, Global, high-tech firm, IMF staff calculation, Income, interest rate, interest rate shock, investment, investment slowdown, ISCR, Pension spending, product market reform, tax rate",
    "**Country Report**"
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