This workshop is addressed to researchers and PhD students in economics interested in natural resource and environmental economics.
The March 24 workshop, in memory of professor and researcher Ngo Van Long, will host Cees Withagent, Professor Emeritus at the University of Amsterdam and Geir Asheim, Professor at the University of Oslo.
Geir Asheim : Comprehensive accounting for carbon emissions (joint with Rintaro Yamaguchi)
We consider the question of how to integrate carbon emissions in comprehensive national accounts for the purpose of indicating sustainability. We derive an expression for national saving which includes not only the national effect of current global emissions, but also the future expected paths of emissions nationally and in the rest of the world. We illustrate how the use of our expression for national saving alters the empirical conclusions concerning the sustainability of countries, as compared to the World Bank estimates. Our calculations suggest that developing countries — with low per capita carbon emissions — are considered less sustainable when using our indicator.
Cees Withagen : Carbon Capture: Storage versus Utilization.
Carbon capture and storage (CCS) seems an appealing option to meet the ambitious objectives of the Paris Agreement. Captured CO2 emissions can also be injected in active fields to enhance recovery: carbon capture and utilization (CCU). We study a dynamic model of CCS and CCU of an economy subject to a carbon budget. We demonstrate that if the social planner implements CCU, it does so at the beginning of the planning period and stops before the budget has been depleted. If CCS occurs in the social optimum, this happens only once the carbon budget has been depleted. Our model features three state variables: the stock of fossil fuel, the stock of atmospheric CO2 and the stock of injected CO2 in active fields. We derive frontiers that separate regions in initial-stock-space with and without CCS and CCU regimes in the social optimum. We compare the social optimum with the decentralized market outcome.