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GTAP Resource #6885

"Industry, employment, distributional and macro-economic effects in the Nordic countries of their greenhouse policies"
by Rimmer, Maureen, Peter Dixon, Juha Honkatukia, Carlos Tapia and Nora Sanchez Gassen

This paper contains a quantitative analysis of the possible effects on the Nordic economies of a selection of greenhouse policies for 2019 to 2030. The policies we consider are: achievement of targets for increased shares of biofuels in motor fuels; achievement of targets for increased shares of electric vehicles in passenger-car fleets; and phasing-out of remaining coal-fired electricity.

The analytical tool that we use is Nordic-TERM. This is a multi-regional computable general equilibrium model. It identifies: the five Nordic countries and Rest of Europe; 25 NUTS2 regions within the Nordic countries; 53 industries; 39 occupations together with several occupational characteristics such as wage bands; and households classified by income decile and urban/intermediate/rural. With this level of detail, Nordic-TERM is an ideal tool for looking at distributional and structural effects of policies.

The simulation results indicate that meeting targets for biofuels and electrification of car fleets together with the phasing-out of remaining coal-fired electricity generation will not be sufficient to meet the 2030 emission reduction targets of the Nordic countries. However, they will make a substantial contribution.

The results in this paper support an optimistic conclusion. They imply that significant reductions in greenhouse emissions can be obtained at moderate macroeconomic cost with almost no structural disruption.

Resource Details (Export Citation) GTAP Keywords
Category: 2023 Conference Paper
Status: Published
By/In: Presented during the 26th Annual Conference on Global Economic Analysis (Bordeaux, France)
Date: 2023
Created: Rimmer, M. (4/13/2023)
Updated: Batta, G. (6/2/2023)
Visits: 354
- Dynamic modeling
- Climate change policy
- Environmental policies
- Europe (Northern)

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