Executive Summary
Assessment and Recommendations
Chapter 1. Norway's Economic Success and the Challenge of Preserving It
-Rapid Catch-Up and Moving to the Top Thanks to Oil and good Institutions
-A Positive Shock from Globalisation
-Sustaining Strong Performance: Problems and Policy Issues
-Annex 1.A1. The Petroleum Sector and its Impact
-Annex 1.A2. Taking Stock of Structural Reforms
Chapter 2. Monetary Policy under Low Inflation
-Macroeconomic risks and tensions
-The Stabilisation Framework
-Monetary Policy Facing High Uncertainty
Chapter 3. Putting Public Finances on a Sustainable Path
Fiscal Policy in 2006 and 2007: Likely Pro-Cyclical while Respecting the Rule
-Ageing , Oil Fund Income and the Fiscal Gap
-Pension Reform
-Fiscal Accountability
Chapter 4. Reforms to Boost Labour Supply
-An Enviable Job Market?
-Boosting Labour Supply is the Key Challenge
-Strengthening Work Incentives to Safeguard the Norwegian Welfare System
-Conclusion
Annex 4.A1. Why Do Norwegians Work So Little?
Chapter 5. Encouraging Innovation
-The Institutional Framework
-The Policy Framework
-Innovation Policy
The "Norwegian Puzzle"