Michael Bergman
Associate Professor
Department of Economics
University of Copenhagen
Øster Farimagsgade 5, building 26
DK-1353 Copenhagen K
E-mail: Michael.Bergman@econ.ku.dk
Phone: +45 35323003
Fax:  +45 35323000

Recent Working Papers

Working papers are available for downloading and printing in Adobe Acrobat (PDF) format. To read and print PDF files you need Adobe Acrobat Reader which can be downloaded from the Adobe Home Page.
  Excise Tax Pass-Through and Menu Costs: The Danish Evidence (with Niels Lynggård Hansen)
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  Policy Actions in the Euro Area and Market Perceptions of Sovereign Default Risk (with Michael Hutchison and Svend E. Hougaard Jensen)
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  Are Excise Taxes on Beverages Fully Passed Through to Prices? The Danish Evidence (with Niels Lynggård Hansen), new version July 2016
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  Currency Crises and Monetary Policy in an Economy with Credit Constraints: The No Interest Parity Case (with Shakill Hassan). EPRU Working Paper Series No. 2008-01.
  | PDF file (long 2009 version)  | PDF file (short 2010 version) |
  Sectoral Real Exchange Rate Adjustments in Europe.
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Publications in English

  Promoting sustainable public finances in the European Union: The role of fiscal rules and government efficiency,'' European Journal of Political Economy, Vol. 44, 2016, pp. 1-19 (together with Michael M. Hutchison and Svend E. Hougaard Jensen).
  Economic stabilization in the post-crisis world: Are fiscal rules the answer?'' Journal of International Money and Finance, Vol. 52, 2015, pp. 82-101 (together with Michael M. Hutchison).
  Reform Capacity and Macroeconomic Performance in the Nordic Countries, Oxford University Press, 2015. (editor together with Torben M. Andersen and Svend E.H. Jensen).
  Do Sound Public Finances Require Fiscal Rules Or Is Market Pressure Enough? (with Michael Hutchison and Svend E. Hougaard Jensen)
   European Economy. Economic Papers, No. 489, April 2013, Brussels.

See also ECFIN Economic Briefs. 22. April 2013. Brussels.
  Swedish Fiscal Policy, Report of the Swedish Fiscal Policy Council 2012 (coauthor).
  Best in Class: Public Finances in Sweden during the Financial Crisis, Panoeconomicus, 58:431-453, 2011.
  Business Cycle Synchronization in Europe: Evidence from the Scandinavian Currency Union, The Manchester School, 79:268-292, 2011. (with Lars Jonung)
  The Common-Trend and Transitory Dynamics in Real Exchange Rate Fluctuations, Applied Economics, 43:1-18, 2011. (with Yin-Wong Cheung and Kon Lai)
  Swedish Fiscal Policy, Report of the Swedish Fiscal Policy Council 2011 (coauthor).
  Monetary Policy During Speculative Attacks: Are there Adverse Medium Term Effects? North American Journal of Economics and Finance, 21, 5-18, 2010. (with Mads Jellingsø)
  Expansionary Fiscal Contractions: Re-evaluating the Danish Case, International Economic Journal, 24, 71-93, 2010. (with Michael Hutchison)
  Swedish Fiscal Policy, Report of the Swedish Fiscal Policy Council 2010) (coauthor).
  Norges Bank Watch 2009 Monetary Policy and the Financial Turmoil, Norges Bank Watch Series No. 10, Center for Monetary Economics, BI Norwegian School of Management, 2009 (with Steinar Juel and Erling Steigum).
  Finnish and Swedish Business Cycles in a Global Context, International Economics and Economic Policy, 5, 49-69, 2008
  How Similar are European Business Cycles?, in G.L. Mazzi and G. Savio, eds., Growth and Cycle in the Euro-zone, Palgrave Macmillan, 2006.
  Real Exchange Rates and Switching Regimes, Journal of International Money and Finance, 24, 121-138, 2005 (with Jesper Hansson).
  Dissecting the PPP Puzzle: The Unconventional Roles of Nominal Exchange Rate and Price Adjustments, Journal of International Economics, 64, 135-150, 2004 (with Yin-Wong Cheung and Kon Lai).
  Northern Light: Do Optimal Currency Area Criteria Explain Nordic Reluctance to Join EMU?, in J. von Hagen and M. Widgren, eds., Regionalism in Europe: Geometries and Strategies After 2000, Kluwer Academic Publishers, 2001 (with Michael M. Hutchison).
  Testing Government Solvency and the No Ponzi Game Condition, Applied Economics Letters, 8:27-29, 2001.
  Do Monetary Unions Make Economic Sense? Evidence from the Scandinavian Currency Union 1873-1914, Scandinavian Journal of Economics, 101:363-377, 1999.
  The Costs of EMU and Economic Convergence, in A. Hughes Hallett, M. Hutchison and S.E.H. Jensen, eds., Fiscal Aspects of European Monetary Union, Cambridge University Press, 1999 (with Michael M. Hutchison).
  Economic Expansions and Fiscal Contractions: International Evidence and the 1982 Danish Stabilization, in T. Andersen, S.E.H. Jensen and O. Risager, eds., Macroeconomic Perspectives on the Danish Economy, MacMillan, 1999 (with Michael M. Hutchison).
  Historical Evidence on Business Cycles: The International Experience, in, J.C. Fuhrer and S. Schuh, eds., Beyond Shocks: What Causes Business Cycles?, Federal Reserve Bank of Boston, Conference Series No. 42, June 1998 (with Michael D. Bordo and Lars Jonung).
  International Evidence on the Sources of Macroeconomic Fluctuations, European Economic Review, 40:1237-1258, 1996.
  The Rise and Fall of the Scandinavian Currency Union 1873-1920, European Economic Review, 37:507-517, 1993 (with Stefan Gerlach and Lars Jonung).
  The Business Cycle Has Not Been Dampened: The Case of Sweden and the United States 1873-1988,'' Scandinavian Economic History Review, XLI:18-36, 1993 (with Lars Jonung).
   The Business Cycle Has Not Been Dampened: A Reply, Scandinavian Economic History Review, XLI:286-290, 1993 (with Lars Jonung).
   External Influences in Nordic Business Cycles 1870-1988, Open Economies Review, 3:1-22, 1992 (with Stefan Gerlach and Lars Jonung).
   Is the Norwegian Business Cycle Asymmetric?'' in K. Velupillai, ed., Nonlinearities, Disequilibria and Simulation: Quantitative Methods in the Stabilization of Macroeconomic Systems, MacMillan, 1992 (with Lars Jonung).
   Public Policy in a Principal-Agent Framework, Journal of Theoretical Politics, 2:339-352, 1990 (with Jan-Erik Lane).
Publications in Swedish and Danish
 Gør finanspolitiske rammer en forskel for de offentlige finanser?'' Økonomi og Politik, Vol. 88, Nr. 3, 2015, pp. 3-18.
 Svensk Finanspolitik, Finanspolitiska rådets rapport 2013, (medförfattare).
Slutsatser och sammanfattning
   Svensk Finanspolitik, Finanspolitiska rådets rapport 2012 (medförfattare).
   Den statsfinansiella krisen i EU - orsaker och botemedel (The Sovereign Debt Crisis in EU - Causes and Cures), in Överlever EMU utan fiskal union? (Will EMU Survive Without a Fiscal Union?), Bernitz, U., L. Oxelheim and T. Persson, eds., Santérus Förlag, 2011.
   Svensk Finanspolitik, Finanspolitiska rådets rapport 2011 (medförfattare).
   Tidsbestämning av svensk konjunktur 1970-2010 (Dating the Swedish business cycle 1970-2010), Finanspolitiska rådet, Studier i finanspolitik 2011/2.
   Hur varaktig är en förändring i arbetslösheten?, Rapport till Finanspolitiska rådet, 2010/1
   Har finanspolitik omvända effekter under omfattande budgetsaneringar? Den svenska budgetsaneringen 1994-1997, Rapport till Finanspolitiska rådet, 2010/2
   Svensk Finanspolitik, Finanspolitiska rådets rapport 2010 (medförfattare).
   Anpassas svenska priser till europeisk nivå?, (Do Swedish Prices Converge to the European Level?) Ekonomisk Debatt, 7, 21-36, 2004. (Awarded the Myrdal-prize for best article in Ekonomisk debatt in 2004)
   Hur bör finanspolitiken utformas vid ett svenskt EMU medlemskap?'' in Gustavsson, S., L. Oxelheim and N. Wahl, eds., Europaperspektiv 2003, Santérus Förlag, 2003.
   Finanspolitikens roll i en valutaunion (The Role of Fiscal Policy within a Monetary Union), Bilaga 2 in Stabilitet och stabiliseringspolitik i EMU, Delbetänkande av Kommittén för stabiliseringspolitik för full sysselsättning vid svenskt medlemskap i valutaunionen (report by the Swedish Government's Committee on Stabilization Policy in EMU), SOU 2001:62, 2001.
   Svenskt och internationellt konjunkturbeteende (Swedish and International Business Cycle Behavior), Bilaga 13 till Långtidsutredningen 1995, Finansdepartementet, Stockholm, 1994 (with Lars Jonung).

Comments and reviews
   Review of: Josephson, C., Growth and Business Cycles: Swedish Manufacturing Industry, 1952-2001, Lund Studies in Economic History 37, Almqvist & Wiksell International, 2005, Journal of Economic History, pp. 599-601, 2009.
   Review of: Siven, C-H (ed.), Unemployment in Europe: Analysis and Policy Issues, Timbro, Stockholm, 1988, Ekonomisk Debatt, pp. 417-419, 1988:5.
   Comment on: ``Macroeconomic Shocks in Sweden 1878-1990'', in Bergström, V. and A. Vredin, eds., Measuring and Interpreting Business Cycles, pp. 214-218, Oxford University Press: Oxford, 1994.
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Presentations & Debate

Gør finanspolitiske rammer en forskel for de offentlige finanser?'' Økonomi og Politik, Vol. 88, Nr. 3, 2015, pp. 3-18.
Tillid er vejen til en sund samfundsøkonomi,'' Politikens Kronik. 2014 ; 1. september 2014. s. 5 (together with Svend E. Hougaard Jensen and Torben M. Andersen).
Presentation at Dong Energy FX seminar on exchange rate theory, May 7, 2012. This seminar was part of the company-internal program.
Seminarium om Eurons framtid arrangerat av SNS, 29 November 2011: Skuldkrisen i Europa - Orsaker och botemedel (in Swedish) Slides.
Panel debatt Almedalen 5 juli 2011: Överlever euron utan europeisk skatteunion? (in Swedish)
Presentation at the 15th ICMAIF conference Crete May 26 2011: Budget consolidations in the aftermath of a financial crisis: Lessons from the Swedish budget consolidation 1994-97 Slides
Præsentation EPRN netværkskonference 16 juni 2011: De svenske erfaringer med offentlig udgiftsstyring Slides
Europaperspektiv: Eurokrisen 8 februari 2011: Överlever euron utan fiskal union?
Är det verkligen cykler som styr ekonomin? Kommentar till Lennart Schöns artikel 'Återkommande kriser banar väg för tillväxt' publicerad i Tvärsnitt 1:10,  Tvärsnitt. 2010, (3).
EMU-argumenten har varit missvisande, Axess, Nummer 2 Mars 2007.

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Economics of European Union, Fall 2016: To access the course website, please log on to the new Absalon via www.punkt.ku.dk.
Economics of Exchange Rates, Spring 2016: To access the course website, please log on to Absalon via www.punkt.ku.dk
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