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Table of contents; Basic statistics of Norway (2010); Executive summary; Key recommendations; Assessment and recommendations; Protected from the worst of the crisis by petroleum wealth and a sound macroeconomic policy framework, Norway continues to enjoy high levels of income and well-being; Figure...

Table 1. Main macroeconomic and financial indicatorsBox 1. The Norwegian macroeconomic policy framework; Table 2. Budget deficits 2001-12; Figure 2. Value of the Government Pension Fund Global; Figure 3. Immigration, wages and unemployment; Public accountability in fiscal policy; Monetary policy cre...

Box 2. Summary of recommendations on macroeconomic policyII. Labour market policies; Public sector employment helped to sustain the labour market through the recession; Figure 7. Employment in the private and public sector; Figure 8. Labour force participation rates1 in 2010: an international compar...

Petroleum wealth allows high public expenditureFigure 10. General government total outlays1 in 2010 or latest year available; The budgetary planning horizon; Monitoring of public expenditure "output" has improved; Regional policy is popular, but output is hard to measure, although its cost is becomi...

Progressive, broadly-based labour income taxation is a feature of Norway's dual income tax systemTaxation of savings and wealth pursues many aims, often ineffectively; Figure 11. Household wealth and debt, second quarter 2009; Table 4. Effective tax rates on the real income from different assets; Re...

Box 5. Summary of recommendations on the taxation of savings and wealth