This report presents estimates of the tax gap for Denmark for the period 2008-12. There are two main components to the RA-GAP methodology for estimating the VAT gap: 1) estimate the potential VAT collections for a given period; and 2) determine the accrued VAT collections for that period. The...

Considering the Danske Bank case and in the context of a highly integrated Nordic-Baltic financial sector, this Selected Issues paper compares the money laundering (ML) threats and related supervisory vulnerabilities facing the region's largest economies, highlights Denmark's ongoing efforts to...

The solid performance of the economy continues to be supported by domestic demand and labor market pressures are gradually building. The current account surplus is declining amid higher investment. The outlook is for continued growth with risks tilted to the downside. While overall house price...

This paper discusses the economic performance of Denmark. Although Denmark has a longstanding track record of sound economic and social policies, economic performance has been relatively weak for an extended period. The economy continues to grow slowly. After recording 1.3 percent growth in...

This paper examines the selected issues related to the economy of Denmark: divergence in house prices, house prices in Denmark's cities, macroprudential policies, and product market reform and firm productivity. Recent house price developments in Denmark have been characterized by a growing...

This 2018 Article IV Consultation highlights that the Danish economy continues to enjoy solid growth. The output gap has seemingly closed for the first time since the global financial crisis. Unemployment is low and close to its estimated structural level with signs of labor shortages and...

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. The baseline accelerator model confirms that output slowdown played a role, but post-GFC...

Much of the work of the Financial Sector Assessment Program (FSAP) was conducted prior to the COVID-19 pandemic. Given the FSAP's focus on medium-term challenges and vulnerabilities, however, many of its findings and recommendations for strengthening policy and institutional frameworks remain...

Denmark entered the pandemic on a strong economic footing and utilized its large policy space built over time to successfully address the crisis and lay the ground for a strong recovery. The outlook is for a rebound in activity, but uncertainty remains elevated with risks tilted to the downside....

The Financial Sector Assessment Program (FSAP) work was conducted prior to the COVID-19 pandemic. This report, however, includes stability analysis and stress tests under updated illustrative scenarios to quantify the possible implications of the COVID-19 shock on bank solvency. An unusually...