-
Period: to
Growth
6.5% GDP growth in 1966
Lowest unemployment in 50 years
Beginning of upward trend in GDP
Denmark experienced high growth
Welfare state was expanded
Women appeared on the labour market
Charter vacation and private cars became common -
Period: to
Oil crisis
Low unemployment
1973 High and persistent unemployment
In the 70’s and 80’s
Twin deficit
Deficits on both the current account and the public balance
Oil crisis in 1973 and 1979 -
Period: to
Unemployment
1980 High and persistent unemployment . High to low inflation regime
Economic situation
Rather dismal
1982 A centre-right government launched a disinflationary policy. A tight fiscal policy to bring down public sector growth
1987 Economic policy was tightened to reduce loan-based private consumption -
Period: to
High growth
1990 High and persistent unemployment
1994 Unemployment began declining
The current account has been in surplus since the 1990’s
1993 A centre-left government took office
Launched paid leaves schemes to reduce registred unemployment and to share available jobs more evenly
1994-2000 Unique with high growth and decreasing unemployment
Current account and public finances were improved
Globalization became a huge thing -
Period: to
Unemployment
-5,1% GDP growth in 2009
In 2002 And 2008 unemployment spiked again
2004 Unemployment fell again
2001 A centre-right government came to power. The market crash following the burst of IT-bubble. Terror attack on WTC. GDP growth
2008 15th September
Lehman Brothers went bankrupt
Financial crisis in the US and the rest of the world
Spread to Denmark in 2008
2009 GDP growth dropped 5.1%. Employment decreased -
Period: to
Downward trend
2010 Clear downward trend in nominal and real returns
2015 Level of activity had still not reached the peak level of 2007. Employment had picked up again and was on the increase
Real output was 2.6 times higher than it was in 1966