During the second half of the 1970s there was massive government interference in wage and price formation in Norway. Incomes policies changed in the first half of the 1980s - the hey days of "dynamic tax policies" in Norway - and during the second half of the 1980s new direct interventions in...

Business income is important in the upper tail of the personal income distribution, but the extent to which it is captured by measures of personal income varies substantially across tax regimes. Using linked individual and firm data from Norway, we are able to attribute business income to...

A number of European countries changed their tax system in the early 1990s along the lines of the US tax reform act of 1986. After the reforms marginal tax rates were generally lower, and mortgage interest deductions less generous. At the same time a long period of house appreciation started in...

The Great Recession, and the fiscal response to it, has revived interest in the size of fiscal multipliers. Standard business cycle models have difficulties generating multipliers greater than one. And they also fail to produce any significant asymmetry in the size of the multipliers over the...

Electricity markets have typically been regulated all over the world. In Europe, UK and Norway have begun to deregulate their electricity markets. Several more countries will probably join them in the near future, for example Finland, Sweden and Spain. The objectives are twofold: to increase...

The welfare effects of introducing taxes on emissions of carbon dioxide is analysed within an empirical general equilibrium model of the Norwegian economy. A CO2 tax regime where we aim at stabilising the CO2 emissions at the 1990 emission level in 2020 is compared to a reference scenario...

Norway has abundant gas resources in the North Sea. The Norwegian gas production accounts for 2 percent of the world production and 17 percent of the European gas production. Despite huge gas production and resources, gas is not used for electricity generation in Norway. Excess capacity, cheap...

Rate-based emissions policies (like tradable performance standards) fix average emissions intensity, while cap-and-trade policies fix total emissions. This paper shows that unfettered trade between rate-based and cap-and-trade programs always raises combined emissions, except when product...

In the criminal career literature, the individual-level age-crime relationship is commonly modelled using generalized linear mixed models, where between-individual heterogeneity is then handled through specifying random effect(s) with some distribution. It is common to specify either a normal or...

The Multiplicative Ergodic Theorem provides a novel general methodology to analyze rational expectations models with stochastically varying coefficients. The approach is applied for the first time to economics and analyzes the canonical New Keynesian model with a Taylor rule which switches...