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A Climate Treaty and the Norwegian Economy: A CGE Assessment

Author

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  • Anne Brendemoen
  • Haakon Vennemo

Abstract

This paper examines the impact of an international climate treaty on a single country—Norway. A disaggregate computable general equilibrium (CGE) model is used. We discuss the treaty's effects on main macroeconomic indicators, economic growth, distributional impacts, the impact on pollutant emissions other than C02, and the secondary benefits of this reduction. The. results suggest that C02 emissions will decrease compared to the current level. The distributional impacts are modest. Increases in secondary benefits recoup almost one half of the loss in private consumption. We characterize the uncertainty of this estimate.

Suggested Citation

  • Anne Brendemoen & Haakon Vennemo, 1994. "A Climate Treaty and the Norwegian Economy: A CGE Assessment," The Energy Journal, , vol. 15(1), pages 77-93, January.
    • Handle: RePEc:sae:enejou:v:15:y:1994:i:1:p:77-93
    DOI: 10.5547/ISSN0195-6574-EJ-Vol15-No1-5
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    Cited by:

    1. Juin‐Jen Chang & Jhy‐Hwa Chen & Jhy‐Yuan Shieh & Ching‐Chong Lai, 2009. "Optimal Tax Policy, Market Imperfections, and Environmental Externalities in a Dynamic Optimizing Macro Model," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 11(4), pages 623-651, August.
    2. Bodil Larsen, 1997. "Economic impacts of reducing NO x emissions in Norway," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 9(1), pages 125-132, January.
    3. Lars Håkonsen & Lars Mathiesen, 1997. "CO 2 -stabilization may be a ‘no-regrets’ policy," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 9(2), pages 171-198, March.
    4. Hettich, Frank & Svane, Minna Selene, 1998. "Environmental policy in a two sector endogenous growth model," Discussion Papers, Series I 290, University of Konstanz, Department of Economics.
    5. Beltrán, Allan & Alatorre, José Eduardo & Ferrer, Jimy & Galindo, Luis Miguel, 2017. "Efectos potenciales de un impuesto al carbono sobre el producto interno bruto en los países de América Latina: estimaciones preliminares e hipotéticas a partir de un metaanálisis y una función de tran," Documentos de Proyectos 41867, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    6. Milan Ščasný & Emanuele Massetti & Jan Melichar & Samuel Carrara, 2015. "Quantifying the Ancillary Benefits of the Representative Concentration Pathways on Air Quality in Europe," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 62(2), pages 383-415, October.
    7. Lans Bovenberg, A. & de Mooij, Ruud A., 1997. "Environmental tax reform and endogenous growth," Journal of Public Economics, Elsevier, vol. 63(2), pages 207-237, January.
    8. Cabalu, Helen & Koshy, Paul & Corong, Erwin & Rodriguez, U-Primo E. & Endriga, Benjamin A., 2015. "Modelling the impact of energy policies on the Philippine economy: Carbon tax, energy efficiency, and changes in the energy mix," Economic Analysis and Policy, Elsevier, vol. 48(C), pages 222-237.
    9. Grepperud, Sverre & Rasmussen, Ingeborg, 2004. "A general equilibrium assessment of rebound effects," Energy Economics, Elsevier, vol. 26(2), pages 261-282, March.
    10. Bruvoll, Annegrete & Larsen, Bodil Merethe, 2004. "Greenhouse gas emissions in Norway: do carbon taxes work?," Energy Policy, Elsevier, vol. 32(4), pages 493-505, March.
    11. Li, Jennifer Chung-I, 2002. "Including the Feedback of Local Health Improvement in Assessing Costs and Benefits of GHG Reduction," Conference papers 331019, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    12. Brita Bye & Snorre Kverndokk & Knut Rosendahl, 2002. "Mitigation costs, distributional effects, and ancillary benefits of carbon policies in the Nordic countries, the U.K., and Ireland," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 7(4), pages 339-366, December.
    13. Kverndokk,S. & Rosendahl,E., 2000. "CO2 mitigation costs and ancillary benefits in the Nordic countries, the UK and Ireland : a survey," Memorandum 34/2000, Oslo University, Department of Economics.
    14. Holmøy, Erling, 2016. "The development and use of CGE models in Norway," Journal of Policy Modeling, Elsevier, vol. 38(3), pages 448-474.
    15. Chen Jhy-hwa & Shieh Jhy-yuan & Chang Juin-jen, 2015. "Environmental policy and economic growth: the macroeconomic implications of the health effect," The B.E. Journal of Macroeconomics, De Gruyter, vol. 15(1), pages 223-253, January.
    16. Terry Barker & Susan Baylis & Clare Bryden, 1994. "Achieving the Rio target: CO2 abatement through fiscal policy in the UK," Fiscal Studies, Institute for Fiscal Studies, vol. 15(3), pages 1-18, August.
    17. Bye, Brita, 2000. "Environmental Tax Reform and Producer Foresight: An Intertemporal Computable General Equilibrium Analysis," Journal of Policy Modeling, Elsevier, vol. 22(6), pages 719-752, November.
    18. Bodil Larsen & Runa Nesbakken, 1997. "Norwegian emissions of CO 2 1987–1994," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 9(3), pages 275-290, April.
    19. Markandya Anil & Rübbelke Dirk T.G., 2004. "Ancillary Benefits of Climate Policy / Sekundäre Nutzen der Klimapolitik," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 224(4), pages 488-503, August.
    20. Vennemo, Haakon, 1997. "A dynamic applied general equilibrium model with environmental feedbacks," Economic Modelling, Elsevier, vol. 14(1), pages 99-154, January.

    More about this item

    Keywords

    Climate treaty; CGE; Norway; greenhouse gases;
    All these keywords.

    JEL classification:

    • F0 - International Economics - - General

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