Long-term fiscal effects of public pension reform in Norway: A generational accounting analysis

Generational Accounts (GAs) measure the fiscal sustainability of the public sector. We ask whether the contributions from the Government Pension Fund and remaining oil and gas wealth in the ground, together with the pension reform taking effect in 2011, are sufficiently large to secure generational balance in Norway. Our results show that the pension reform has a substantial effect, and contributes as much to generational balance as the total petroleum wealth. Neither increased economic growth per se nor increased fertility contribute to improve the GAs. The structural characteristics of higher employment and lower transfer payments typical for cyclical upturns, improve the GAs substantially. Optimistic assumptions regarding these structural characteristics do not remove the need for further reforms to obtain fiscal sustainability of the Norwegian public sector. --Generational Accounting,Norway,Fiscal Policy,Intergenerational redistribution

Agglomeration effects : studying agglomeration effects from Norwegian hydroelectricity plants

Supervisor: Aline BuetikoferThis thesis aims to answer the research question "To what extent did the shocks to eco- nomic activity and population following openings of Norwegian hydroelectricity plants in the early 20th century lead to long run agglomeration effects?". The question is answered using data on population density and taxable income in 67 Norwegian municipalities in the period between 1876 and 2013. We utilize the fact that hydroelectricity plants opened before transportation of electricity over large distances was possible provide temporary shocks to population density and economic activity. Using a combination of the synthetic control method and the rolling out approach we estimate both short- and long run effects following the openings of hydroelectricity plants. The main conclusion is that opening hydroelectricity plants lead to significant short run effects in several of the municipalities in the data-set, but that the evidence for long run agglomeration effects is weak.nhhma

The Welfare State as Provider of Accident Insurance in the Workplace: Efficiency and Distribution in Equilibrium.

The welfare state provides universal insurance for workers against accidents in the workplace. In equilibrium, this insurance does not generate adverse safety incentives to firms. Noninternalized insurance makes workers sort themselves nonoptimally to firms and choose higher individual effort levels to prevent accidents as compared to insurance schemes that are internalized in the market. Welfare state insurance may, therefore, generate higher safety levels than perfect experience rating, not lower. An optimal income taxation scheme in the welfare state implies progressive taxation. The optimal tax level increases with the extent of the welfare state. Copyright 1995 by Royal Economic Society.

Success or selection in vocational rehabilitation programs

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