The effect of a carbon tax rise on Iceland's economy:
This paper studies the potential impact of higher carbon taxation - to reach the government's emission targets by 2030 - on Iceland's economy. The paper is divided into two parts. First, a DSGE modelling exercise suggests that the equivalent of an oil price hike of between 30% and 55% is n...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Paris
OECD Publishing
2022
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| Schriftenreihe: | OECD Economics Department Working Papers
no.1708 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper studies the potential impact of higher carbon taxation - to reach the government's emission targets by 2030 - on Iceland's economy. The paper is divided into two parts. First, a DSGE modelling exercise suggests that the equivalent of an oil price hike of between 30% and 55% is needed to reach the 2030 target, implying a GDP decline of between 0.3% and 0.6% by 2030. The impact on inflation would be very small. Second, a panel regression for the fishing industry reveals that a 40-50% oil price hike would be sufficient to reduce the entire fishing fleet's emissions by 10%, raising total factor costs for the fishing companies by 4-5%. Such a cost hike would hardly threaten the competitiveness of the fishing industry. Both approaches assume that a carbon tax rise would have no effect on production technology. |
| Beschreibung: | 1 Online-Ressource (18 p.) 21 x 28cm. |
| DOI: | 10.1787/76a7eaed-en |
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| spelling | Blöchliger, Hansjörg VerfasserIn aut The effect of a carbon tax rise on Iceland's economy Hansjörg, Blöchliger, Sigurdur, Johannesson and Marias Halldor, Gestsson Paris OECD Publishing 2022 1 Online-Ressource (18 p.) 21 x 28cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1708 This paper studies the potential impact of higher carbon taxation - to reach the government's emission targets by 2030 - on Iceland's economy. The paper is divided into two parts. First, a DSGE modelling exercise suggests that the equivalent of an oil price hike of between 30% and 55% is needed to reach the 2030 target, implying a GDP decline of between 0.3% and 0.6% by 2030. The impact on inflation would be very small. Second, a panel regression for the fishing industry reveals that a 40-50% oil price hike would be sufficient to reduce the entire fishing fleet's emissions by 10%, raising total factor costs for the fishing companies by 4-5%. Such a cost hike would hardly threaten the competitiveness of the fishing industry. Both approaches assume that a carbon tax rise would have no effect on production technology. Economics Iceland Johannesson, Sigurdur MitwirkendeR ctb Gestsson, Marias Halldor MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/76a7eaed-en Volltext |
| spellingShingle | Blöchliger, Hansjörg The effect of a carbon tax rise on Iceland's economy Economics Iceland |
| title | The effect of a carbon tax rise on Iceland's economy |
| title_auth | The effect of a carbon tax rise on Iceland's economy |
| title_exact_search | The effect of a carbon tax rise on Iceland's economy |
| title_full | The effect of a carbon tax rise on Iceland's economy Hansjörg, Blöchliger, Sigurdur, Johannesson and Marias Halldor, Gestsson |
| title_fullStr | The effect of a carbon tax rise on Iceland's economy Hansjörg, Blöchliger, Sigurdur, Johannesson and Marias Halldor, Gestsson |
| title_full_unstemmed | The effect of a carbon tax rise on Iceland's economy Hansjörg, Blöchliger, Sigurdur, Johannesson and Marias Halldor, Gestsson |
| title_short | The effect of a carbon tax rise on Iceland's economy |
| title_sort | effect of a carbon tax rise on iceland s economy |
| topic | Economics Iceland |
| topic_facet | Economics Iceland |
| url | https://doi.org/10.1787/76a7eaed-en |
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