Research and report the following for your two allocated countries Denmark and Norway: Determine whether each country's

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Question:

Research and report the following for your two allocated countries "Denmark and Norway":

Determine whether each country's overall fiscal policy change was expansionary or contractionary in 2022. Consider only the main fiscal policy changes in each country.

Determine whether each country's overall monetary policy stance was looser (expansionary) or tighter (contractionary) in 2022. Consider only the main monetary policy changes in each country.

Illustrate, explain and briefly compare the short-run impact of each country's fiscal monetary mix in 2022, ceteris paribus (that is, holding other things equal), using the appropriate Mundell-Fleming (IS*-LM*) model.