books
On this page, I'll give you an overview of my Danish and English books.
These are my Danish books:
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In my publications I have presented a number of new views. Among other things, I warned against the risk of the interest-only loans that could lead to price bubbles and to financial collapse prior to the financial crisis. I have also repeatedly warned against the risks of indebtedness in Danish society. I have recommended that the large Danish financial companies be split up, which can reduce the negative consequences of collapse and increase competition. In my forthcoming book, "The Danish Government", a number of proposals are presented that can improve the Danish political decision-making process, among other things, that managers of public bodies are independently responsible for how the governments work.
Danske finanskriser fra 1311 til 2000
Forlaget Historia, 2023, 1.265 sider (3 bind)
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Bogen giver en dybdegående beskrivelse og analyse af finanskriser, der har ramt Danmark mellem 1311 og 2000. Bind I omhandler perioden fra 1311 til 1913 og indeholder herudover et indledende kapitel med afklaring af begreber. Bind II ser på tiden fra 1. verdenskrigs udbrud i 1914 til 1979. Bind III beskriver perioden fra 1980 til 2000, herunder krisen på boligmarkedet i slutningen af 1980'erne og begyndelsen af 1990'erne. Bind III giver også en oversigt over over udenlandske kriser, og der samles op og drages konklusioner på baggrund af den samlede række af kriser i Danmark.
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Danske finansielle kriser siden 2000
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Forlaget Karnov Group, 2021, 584 sider
Bogen giver en dybdegående beskrivelse og analyse af finanskrisen, der ramte Danmark i 2008. Endvidere leverer bogen beskrivelser af den krise, der ramte de danske pensionsselskaber i 2001-02, samt af coronakrisen. Et afsluttende kapitel indeholder en række konklusioner med hensyn til risikoen for fremtidige kriser og deres håndtering.
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The Financial System
(in Danish: Det finansielle system)
Copenhagen: Thomson, 2010, 661 pages
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The book gives a comprehensive description of the Danish financial system as it had evolved in 2010. There is further a discussion of future development.
Various issues are discussed that are important for the development of the Danish financial system, most importantly how it should be designed and how it should be regulated.
The Financial System
(in Danish: Det finansielle system)
Copenhagen: Thomson, 2010, 661 pages
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The book gives a comprehensive description of the Danish financial system as it had evolved in 2010. There is further a discussion of future development.
Various issues are discussed that are important for the development of the Danish financial system, most importantly how it should be designed and how it should be regulated.
The Financial System
(in Danish: Det finansielle system)
Copenhagen: Thomson, 2008, 446 pages
The book presents a short description of the financial crises in Denmark and other countries. Possible explanations of financial crises are discussed. It is further discussed how financial crises should be managed.
It is proposed that financial institutions should issue bonds that will be converted into equity if a financial institution is in need of capital due to losses arising from a financial crisis.
The Economic Cooperation in the European Community
(in Danish: Det økonomiske samarbejde i EF)
Copenhagen: Jurist- og Økonomforbundets Forlag, 1986, 316 pages - (With Jens Pagter Kristensen)
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The book describes the European economic cooperation as it had evolved in the mid-1980s. It is discussed how far European economic cooperation has developed in different areas and it is discussed to what extent it is desirable to place competencies at the European level rather than at national level.
The Economic Cooperation in the European Community​
(in Danish: Det økonomiske samarbejde i EF)
Second edition
Copenhagen: Jurist- og Økonomforbundets Forlag, 1992, 319 pages - (With Peter Nedergaard)
The book gives a description of the economic cooperation that takes place in the European Community in 1992. The book is a revised and updated version of the book from 1986.
Credit and Consumption
(in Danish: Gæld og forbrug)
Copenhagen: Thomson Reuters, 2009, 96 pages
(With Hans Hansen og Frederik Meding)
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The book discusses economic factors that may explain the rise in household debt. The book further presents the results from an investigation regarding Danish household debt in 2005 and 2006.
The investigation shows that Danish households have built up a large net debt. For many households, questions can be raised whether they will be able to honor debt obligations.
Financial Mergers in the Nordic Countries
(in Danish: Finansfusionerne i de nordiske lande)
Copenhagen: Nordic Council of Ministers, NORD 1993:33, 1993 , 255 pages
The book is a report that has been prepared for the Nordic Council of Ministers. It is described how there has been a trend towards concentration in the financial systems of the Nordic countries. The reasons behind this development are discussed. The book further discusses possible consequences that may follow from the rise in concentration.
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Copenhagen: Nordic Council of Ministers, Nordiske Seminar- og Arbejdsrapporter, NORD 1993:610, 1993, 233 pages
The publication is a supplement to the report on financial mergers in the Nordic countries. The publication presents statistics concerning the trend towards concentration and prices of financial products in the Nordic countries.
The Financial System in Denmark
(in Danish: Det finansielle system i Danmark)
Copenhagen: Jurist- og Økonomforbundets Forlag, 1989, 484 pages
The book gives a description of the Danish financial system. The development of Danish financial institutions and markets is described. The book further discusses a number of issues that are important to the Danish financial system at the end of the 1980s: increasing competition and the development of new financial products, the impact of European financial integration, the design of financial institutions, a trend towards concentration, changes in the boundaries between financial institutions, the effects of the financial system on credit and savings, and the access of commercial enterprises to finance.
These are my English books:
The Development of the
European Monetary System
DJØF Publishing, 1992, 160 pages
The book discusses the development of European monetary cooperation. It is argued that the European Monetary System (EMS) – rather than being a vehicle to lower inflation – should be seen as an instrument that can increase demand and which may be used to reach purely political goals.
Money and the Natural Rate of Unemployment
Cambridge University Press, 2000, 308 pages
The prevailing view among economists and policymakers is that money has no impact on production in a longer term characterized by full price and wage flexibility and rational expectations.
The book presents a revisionist view of monetary policy and monetary regimes. It presents several new mechanisms, indicating that money affects long-term production. The consequent policy implications are also discussed, including the uses of monetary policy and monetary regimes in achieving macroeconomic goals; the impact of an independent central bank; and the effects of a movement from floating exchange rates to fixed exchange rates in a monetary union.
In addition to the theoretical and policy discussions, the book also contains a comprehensive survey of the current state of scholarship in this area.
Production, Inflation and Monetary Regimes
Samfundslitteratur, 2002, 535 pages
This book covers the same issues as ‘Money and the Natural Rate of Unemployment’ (2000) but in more detail and with more mechanisms presented. Again, it is demonstrated how money can affect long-term production within a model framework with full information and rational expectations. The book is the doctoral dissertation that I defended at the Copenhagen Business School in April 2002.
