konjunkturudfyldning

Konjunkturudfyldning is a Danish compound term that can be translated literally as "business-cycle filling." In economic and policy contexts it is used to describe deliberate measures intended to fill demand shortfalls or smooth fluctuations over the business cycle, broadly aligning with the idea of counter-cyclical policy. The aim of such measures is to stabilize output, employment and public confidence when private demand weakens.

Typical tools associated with konjunkturudfyldning include discretionary fiscal actions (public investment, targeted transfers, temporary tax relief), the strengthening of automatic stabilizers (unemployment benefits, social transfers), and complementary monetary easing. Implementation may be temporary and aimed at rapid impact, or phased to support recovery while avoiding long-term fiscal imbalances.

Debate around konjunkturudfyldning focuses on timing, effectiveness and side effects. Advocates argue it can reduce unemployment and shorten recessions; critics warn of risks such as inflationary pressure, crowding out of private investment, misallocation of resources and political difficulties in withdrawing support. Alternatives and complements include structural reforms, supply-side measures and policies to enhance resilience.

The term is most often encountered in Danish policy discussions and economic commentary. Its precise meaning varies with context, and practitioners distinguish between automatic stabilizers and discretionary konjunkturudfyldning when designing macroeconomic responses.