Haakon Vennemo

Stabilization of Emissions of CO2: A Computable General Equilibrium Assessment

A multisector computable general equilibrium model is used to study economic development perspectives in Norway if carbon dioxide emissions were stabilized. The effects discussed include impacts on main macroeconomic indicators and economic growth, sectoral allocation of production, and effects on the market for energy. The impact of pollutants other than carbon dioxide on emissions is assessed along with the related impact on noneconomic welfare. The results indicate that carbon dioxide emissions might be stabilized in Norway without dramatically reducing economic growth. Sectoral allocation effects are much larger. A substantial reduction in emissions to air other than carbon dioxide is found, yielding considerable gains in noneconomic welfare. Copyright 1992 by The editors of the Scandinavian Journal of Economics.

The financial crisis and fiscal consolidation in green budgets

This project adds insight into the potential contribution to fiscal consolidation from environmental tax and subsidy reforms, i.e. strengthening public budgets while at the same time improving economic efficiency and the environment. The report contributes with own calculations for potential revenues from environmental taxes and discusses the financial crisis and environmental tax policy responses in Iceland, Estonia and Ireland as case studies. The analysis has been carried out during the period July 2012 – December 2012 by Vista Analysis AS, Norway, Reykjavik University, Iceland and PRAXIS Center for Policy Studies, Estonia. The project was commissioned by the Nordic Council of Ministers.

Reforming environmentally harmful subsidies: : How to counteract distributional impacts

Reforming environmentally harmful subsidies: How to counteract distributional impacts The report discusses the theoretical principles for an efficient environmental and distribution policy and offe ...