Economic policy and the Norwegian economy
Ragnhild Schreiner, Principal Investigator at NFS, participated in the Conference on Economic Policy, held on October 22 under the theme Interest Rates, Risk and the Real Economy – Who Governs the Norwegian Economy? Alongside State Secretary Ellen Reitan from the Ministry of Finance and Erika Färnstrand Damsgaard from the Swedish National Debt Office, Schreiner joined a session on the outlook and policy challenges facing the Norwegian economy. The conference addressed how economic policy can respond to international uncertainty, growing public expenditure, weak productivity growth, and pressures on Norway's competitiveness.
Martin Blomhoff Holm also participated in the conference, joining LO's chief economist Roger Bjørnstad and NHO senior economist Victoria Sparrman in a discussion on the future of Norway's coordinated wage-setting model (frontfagsmodellen), and whether changing economic conditions call for reconsidering its current framework.
The Nordic model and economic inequality - from Stavanger to Turin
A central theme across both festivals was the Nordic economic model and the sources of relatively low income inequality.
In Stavanger, NFS Director Gaute Torsvik participated in a panel discussion on the sources of economic equality in the Nordic countries, alongside John Hassler and Trine Østereng, moderated by Terje Erikstad from Dagens Næringsliv.
The discussion explored whether the relatively low levels of inequality in the Nordic countries are primarily explained by taxation and redistribution or by a more compressed wage structure. The discussion drew on research by Torsvik, Magne Mogstad, and Kjell Salvanes.
Meanwhile, at the International Festival of Economics in Turin, Magne Mogstad, Professor of Economics at the University of Chicago and Principal Investigator at NFS, presented the same research in a lecture titled The Nordic Model: Myths, Facts, and Lessons on October 23rd.
His presentation explored why the Nordic countries have managed to combine high levels of economic prosperity with relatively low inequality, and what lessons other countries might draw from the Nordic experience.
Taxation, labor supply and the green transition
Other NFS researchers contributed to a broad range of discussions at KÅKÅnomics.
Morten Håvarstein participated in a panel examining how high-income earners respond to changes in income taxation. The discussion addressed a central question in public economics: To what extent do lower marginal tax rates encourage additional labour supply?
Katinka Holtsmark joined a discussion on whether Norway needs a Green New Deal, alongside Ann Pettifor and Bård Harstad. The panel examined the role of government policy and public investment in accelerating the green transition.
Torfinn Harding contributed to several discussions on Norway's long-term economic challenges, including the future of green industries, cost-effective climate policy, and the country's transition away from petroleum dependence. The discussions considered the role of government intervention, the challenges facing emerging industries, and the need for new sources of economic growth.
Together, the researchers' contributions across Stavanger and Turin illustrate the role of NFS in bringing economic research into public debate and informing discussions on important policy challenges, both in Norway and internationally.