01832cas a2200253 a 4500 AALejournalIMF015131 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475554106 1018-5941 BD-DhAAL BD-DhAAL Mircheva, Borislava. Spillovers in the Nordic Countries / Borislava Mircheva, Dirk Muir. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Denmark, Finland, Norway, and Sweden form a tightly integrated region which has strong ties with the euro area as well as some exposure to Russia. Using the IMF's Global Integrated Monetary and Fiscal model (GIMF), we examine spillovers the region could face, focusing on possible scenarios from the rest of the euro area and Russia, and the fall in global oil prices. We show that the spillovers from these scenarios differ in magnitude and impact, regardless of the high degree of integration among the four Nordic economies. These differences are driven by the fact that Denmark and Finland have no independent monetary policy, and Denmark and Norway are net energy exporters while Finland and Sweden are energy importers. We infer lessons for policy from the outcomes. Mode of access: Internet Muir, Dirk. IMF Working Papers; Working Paper ; No. 2015/070 Full text available on IMF http://elibrary.imf.org/view/journals/001/2015/070/001.2015.issue-070-en.xml IMF e-Library