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Working papers
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[7/2013] Incentives for Strategic Behavior in the Permit Market - by Cathrine Hagem
Abstract: Trade in emissions permits is an important feature of the current international agreement to limit emissions of greenhouse gases (the Kyoto Protocol), ..... -
[6/2013] How do investments in heat pumps affect household energy consumption? - by Bente Halvorsen and Bodil Merethe Larsen
Abstract: Increased energy efficiency is often seen as the best way of reducing energy consumption. However, the cost reduction ..... -
[5/2013] Unilateral Climate Policy: Can OPEC resolve the leakage problem? - by Christoph Böhringer, Knut Einar Rosendahl and Jan Schneider
Abstract: In the abscence of a global agreement to reduce greenhouse gas emissions, individual countries have introduced national climate policies. Unilateral action involves the risk of relocating emissions to ..... -
[4/2013] The Impact of Uncertainty on the European Energy Market: The scenario aggregation method - by Kjell Arne Brekke, Rolf Golombek, Michal Kaut, Sverre A.C. Kittelsen and Stein Wallace
Abstract: We develop a stochastic numerical equilibrium model of the Western European energy markets. Both economic uncertainty with respect to future fossil fuel prices and GDP growth rates, and political uncertainty with ..... [3/2013] The Environmental Option - by Gideon Parchomovsky and Endre Stavang
Abstract: We introduce an innovative market-based mechanism that may be used to advance environmental goals. Our mechanism employs option theory to give established businesses a financial stake in the success .....[2/2013] Supply side climate policy and the green Paradox - by Michael Hoel
Abstract: The focus of the green paradox literature has been either on demand-side climate policies or on e¤ects of technological changes. The present paper addresses the question of whether .....-
[1/2013] Technology Agreements with Heterogeneous Countries - by Michael Hoel and Aart de Zeeuw
Abstract: For sufficiently low abatement costs many countries might undertake significant emission reductions even without any international agreement on emission reductions. We consider a situation where a coalition of countries ..... [19/2012] Mechanism design for refunding emissions payment - by Cathrine Hagem, Bjart Holtsmark and Thomas Sterner
Abstract: We analyze two mechanism designs for refunding emission payments to polluting firms; Output Based (OB) and Expenditure Based (EB) refunding. In both instruments, emissions fees are returned to the polluting industry, possibly making the policy .....-
[18/2012] Political motives in climate and energy policy - by Annegrete Bruvoll, Hanne Marit Dalen and Bodil M. Larsen
Abstract: Standard economic theory provides clear guidance on the design of cost-efficient policy in the presence of imperfect markets and externalities. However, ..... -
[17/2012] A Kantian approach to sustainable development indicators for climate change - by Mads Greaker, Per Espen Stoknes, Knut H. Alfsen and Torgeir Ericson
Abstract: Agenda 21 required countries to develop and regularly update a national set of indicators for sustainable development. Several countries now have such sets also including ..... -
[16/2012] Emissions trading with offset markets and free quota allocations - by Knut Einar Rosendahl and Jon Strand
Abstract: We study interactions between a “policy bloc’s” emissions quota market and an offset market where emissions offsets can be purchased from a non-policy “fringe” of countries (such as for the CDM under the Kyoto Protocol). Policy-bloc..... -
[15/2012] Does a renewable fuel standard for biofuels reduce climate costs? – by Mads Greaker, Michael Hoel and Knut Einar Rosendahl
Abstract: Recent contributions have questioned whether biofuels policies actually lead to emissions reductions, and thus lower climate costs. In this paper we make two con- tributions to the literature. First,..... -
[14/2012] Pumped-Storage Hydroelectricity – by Finn R Førsund
Abstract: Pumped-storage hydroelectricity has been proposed as one of the solutions to the nonstorability of intermittent energy. The basic economics of pumped storage..... -
[13/2012] A Comment on the Environment and Directed Technical Change – by Mads Greaker and Tom-Reiel Heggedal
Abstract: The major claim in Acemoglu, Aghion, Bursztyn & Hemous (2012) (AABH) is that subsidies for research and development of clean technologies are more important than carbon taxes when dealing with climate change. However, they – unconventionally –..... -
[12/2012] Emissions leakage and subsidies for pollution abatement. Pay the polluter or the supplier of the remedy? – by Carolyn Fischer, Mads Greaker and Knut Einar Rosendahl
Abstract: Asymmetric regulation of a global pollutant between countries can alter the competitiveness of industries and lead to emissions leakage. For most types of pollution, abatement technologies are available for firms to produce with..... -
[11/2012] Optimal harvest age considering multiple carbon pools – a comment by Bjart Holtsmark, Michael Hoel, and Katinka Holtsmark
Abstract: In two recent papers, Asante and Armstrong (2012) and Asante et al. (2011) considered the question of optimal harvest ages. They found..... -
[10/2012] Haavelmo on the climate issue by Michael Hoel and Bjart Holtsmark
Abstract: Although environmental issues were not the main theme of most of Haavelmo's writings, issues related to the environment are discussed in many publications with a broader focus. Haavelmo was..... -
[9/2012] The Trade-off between Intra- and Intergenerational Equity in Climate Policy: Can Carbon Leakage be Justified? by Snorre Kverndokk, Eric Nævdal and Linda Nøstbakken
Abstract: This paper focuses on two equity aspects of climate policy, intra- and intergenerational equity, and analyzes the implications..... -
[8/2012] Faustmann and the Climate by Michael Hoel, Bjart Holtsmark, Katinka Holtsmark
Abstract: This paper presents an adjusted Faustmann Rule for optimal harvest of a forest in the presence of a ..... -
[7/2012] A Framework for Studying the Environmental Impact of Biofuel Policies by Thea Marcelia Sletten
Abstract: In this thesis I present a new framework for investigating the environmental impact of and optimal policies for ..... -
[6/2012] Phasing in large-scale expansion of wind power in the Nordic countries by Finn R. Førsund
Abstract: There are plans of a substantial increase in the construction of renewable power in Scandinavia in the coming 10 years. The Nordic countries..... -
[5/2012] Cost-Effective Unilateral Climate Policy Design: Size Matters by Christoph Böhringer, Carolyn Fischer, and Knut Einar Rosendahl
Abstract: Given the bleak prospects for a global agreement on coordinated policies to mitigate climate change, political pressure is increasing among industrialized countries for unilateral..... -
[4/2012] Moral positions on Tradable Permits Markets by Snorre Kverndokk
Abstract: Permit trading is a preferred environmental policy instrument among economists, and has become a popular tool in environmental treaties the last decades. The reason... -
[3/2012] Prices vs. quantities: Techology choice, uncertainty and welfare by Halvor Briseid Storrøsten
Abstract: This paper shows that tradable emissions permits and an emissions tax affect the firms' technology choice differently under uncertainty. A tax... -
[2/2012] Second-best climate policy by Michael Hoel
Abstract: Countries with an active climate policy often use several other policy instruments in addition to a price on carbon emissions, such as subsidies to renewable energy. An obvious... [1/2012] Alternative Designs for Tariffs on Embodied Carbon: A Global Cost-Effectiveness Analysis by Christoph Böhringer, Brita Bye, Taran Fæhn, and Knut Einar Rosendahl
Abstract: In the absence of effective world-wide cooperation to curb global warming, import tariffs on embodied carbon have been proposed as a potential supplement to unilateral emissions pricing. We consider...[6/2011] On efficiency gains from emissions trading: Have they been exaggerated? Odd Godal and Bjart Holtsmark
Abstract: Explored in this paper are some effects of international emissions trading when no international authority has the power to impose an efficient cap. Rather, we assume.....[5/2011] A SHARED SENSE OF RESPONSIBILITY: MONEY VERSUS EFFORT CONTRIBUTIONS IN THE VOLUNTARY PROVISION OF PUBLIC GOODS by Jared C. Carbone and Robert S. Gazzale
Abstract: A frequently cited argument against the use of market-based instruments to provide public goods is that they diminish our sense of responsibility to be good citizens. In this...[4/2011] Price and welfare effects of emission quota allocation, by Rolf Golombek, Sverre A.C. Kittelsen and Knut Einar Rosendahl
Abstract: We analyze how different ways of allocating emission quotas may influence the electricity market. Using a large-scale numerical model of the Western European energy market...[3/2011] Wetter and Wilder: Impacts on the electricity industry in Western Europe of climate change, by Rolf Golombek, Sverre A.C. Kittelsen and Ingjerd Haddeland
Abstract: This paper studies some impacts of climate change on electricity markets, focusing on three climate effects...[2/2011] Timing of environmental R&D policy, by Reyer Gerlagh, Snorre Kverndokk, andKnut Einar Rosendahl
Abstract: We study the timing and interdependence between optimal innovation policy and environmental policy in a model with emission reduction (abatement) activity and cost-reducing R&D through increasing variety numbers...[1/2011] Incentives for environmental R&D, by Mads Greaker and Michael Hoel.
Abstract: Since governments influence the demand for a new abatement technology through their environmental policy, they may be able to expropriate innovations in new abatement technology ex post...