OECD Economic Surveys : Denmark 2022.

Format:

Book

Author/Creator:

Organization for Economic Cooperation and Development.

Series:

OECD Economic Surveys: Denmark

Language:

English

Subjects (All):

Denmark--Economic conditions--1945---Periodicals.

Denmark.

Physical Description:

1 online resource (132 pages)

Other Title:

Denmark 2022

Place of Publication:

Paris : Organization for Economic Cooperation & Development, 2022.

Summary:

The Danish economy has recovered quickly from the COVID-19 crisis. Rapid action to support firms and households contained the economic contraction to one of the mildest in Europe, while fast vaccine rollout enabled the removal of shutdown restrictions and an early reopening.

Contents:

Intro

Foreword

Basic statistics of Denmark, 2019

Executive summary

Macroeconomic policy has supported the recovery from the COVID crisis

Reforms would boost labour market inclusion and productivity

Climate policies need to be cost-effective and socially acceptable

1 Key Policy Insights

Introduction

Denmark weathered the crisis well, but imbalances are increasing

House prices have risen rapidly

Asset price growth is increasing financial stability risks

Fiscal policy to support wellbeing

Government spending supported the economy during the crisis

Sustainable public finances over the long term

Reforms to increase productivity growth and labour market inclusion

Supporting diffusion of the benefits from the digital transformation

Enhancing the benefits from strong female labour market participation

Improving the integration of migrants

Harnessing synergies between climate action and the local environment

References

2 An effective, inclusive and comprehensive strategy for a decarbonised economy

The climate strategy in Denmark

Denmark is exposed directly and indirectly to the impacts of climate change

Denmark has reduced its GHG emissions and set ambitious new targets

Climate targets call for accelerated action, but this will have socio-economic impacts

A strategy to mitigate macroeconomic and financial consequences

Curbing labour market adjustment costs

The risk of emission leakage through international trade will have to be assessed and curbed to allow for an effective domestic strategy

Key policy instruments for a net-zero economy

Aligning emission pricing to accelerate the transition

Regulation can be a valuable part of the policy mix where cost-effective measures are targeted

Private investment is key for meeting climate targets.

Well-targeted public investment needs to play a role

The green transition has important implications for the finance sector

Research and development plays a major role in the Danish climate mitigation strategy

Enhancing good governance to improve coordination and monitoring

3 Climate policies for energy, transport and agriculture

Maintaining progress in the energy sector

Policy measures have contributed to the falling cost of renewables

Electricity taxes unrelated to environmental effects should be reduced

Reliance on biomass for heat and power needs to be reduced

The rate of renovations should be increased to meet energy efficiency goals

Reversing the increase in GHG emissions in the transport sector

The transport sector has become the largest emitter of GHGs

Reducing vehicles' carbon intensity is the focus of government policy

Shifting the tax burden to encourage sustainable use of transport in a cost-effective way

Ramping up mitigation in agriculture

Danish agriculture is open to international trade and potentially vulnerable to GHG emission leakage if unilateral measures increase production cost

An ambitious policy mix of regulation and subsidies for carbon sequestration can enhance climate change mitigation in agriculture

Complementing with steps to encourage sustainable consumption

References.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-48808-1