The Danish climate footprint is the emissions caused by consumption in Danish households, the public sector and Danish investments – regardless if the emissions happen in Denmark or in other countries via imports of goods to Denmark.

https://www.dst.dk/en/Statistik/temaer/klima

Multiplier analysis

As part of testing and analysing the model a set of , standard multipliers, , , first year effects, and a , collection of examples, is presented with every model version. These give a broad overview of the analysis possibilities of ADAM. Multipliers are used to analyse the effects of economic and political changes. A demand shock in ADAM affects both production, employment and consumption in the short run. In the long run the effect on employment disappears. In contrast, a supply shock will have a permanent effect on employment. This is in line with most models of small open economies with a fixed exchange rate policy and a Phillips curve. , In principle, there is no automatic monetary or fiscal policy reaction function in ADAM. This aspect should be taken into consideration in the comparison with other economic models. Furthermore the specific danish laws and rules modelled in ADAM could be important when comparing with models for other economies. , For every new model version a series of standard experiments are produced to enable the analysis of the model characteristics. At the same time, the experiments makes it possible to compare the characteristics of the new model version with previous ones. All multiplier analysis are based on a base line representing a solution with respect to the endogenous variables based on a stylized forecast of the exogenous variables. , standard multipliers, are made by changing one or a few of the exogenous variables and afterward calculating the effect on the endogenous variables. , first year effects, represents the short run. Focus is especially on fiscal policy and the characteristics are examined by comparing with the previous model version., ,

https://www.dst.dk/en/Statistik/ADAM/Multiplikatorer

Analyses: Few industrial groups contribute massively to Denmark's balance of payments surplus

For a long period, Denmark has had a surplus on the balance of payments. The manufacturing industry contributes massively to the balance of payments surplus because the sector has extensive net exports of goods. Danish industrial groups have increasingly become globally organised producing goods across borders., Accordingly, there is a close correlation between the manufacturing industry’s investments in foreign subsidiaries and Danish exports and investment income that impacts the balance of payments statistics., As part of the examination of the international organisation of industrial groups and their significance to the Danish economy, this analysis examines investments abroad and the groups’ total contribution to the balance of payments surplus in 2018. To illustrate the presence abroad, we apply a new approach to examine the ultimate destinations for the industrial groups’ investments., Main conclusions:, The contribution by just five large industrial groups to the balance of payments surplus corresponds nearly to the entire Danish balance of payments surplus in 2018., The industrial groups’ total contribution to the balance of payments was DKK 297 billion in 2018, which is almost twice the total balance of payments surplus., The surplus is driven by goods exports of which an increasing part never crosses the Danish border, because the goods are produced by subsidiaries abroad., Danish industrial groups have substantial investments in subsidiaries abroad. Complex group structures often lead to investments passing through several countries before they reach their final destinations., A new method for calculating ultimate hosting countries for the investments shows that particularly investments in China and Russia are channelled through other countries., Get as pdf, Few industrial groups contribute massively to Denmark's balance of payments surplus, Colophone, Few industrial groups contribute massively to Denmark's balance of payments surplus, Subject group: Economy, Released: 17 February 2020 08:00, No. 2020:05, ISSN pdf: 2446-0354, Contact:, Mads Møller Liedig, Telephone: +45 40 12 97 72

Analysis

Analyses: Large increase in sales of goods abroad by Danish manufacturing industries

Globalisation means that Danish enterprises are increasingly organising their production across borders. Today, processing abroad, traditional trading with goods across borders, as well as purchases and sales of goods not crossing Danish borders (merchanting) have become closely linked. This trend has been particularly strong over the past decade., This analysis describes how enterprises organise production internationally, with special focus on Danish manufacturing industries’ production and sales abroad. The analysis is based on new figures for balance of payments and international trade in goods and services, which were published on 10 October 2016., Main conclusions of the analysis: , In 2005, Danish manufacturers sold goods abroad which were not produced in Denmark for about DKK 8 bn. In 2015, this figure had risen to more than DKK 120 bn., Sales of merchanting goods by manufacturing industries, i.e. goods purchased and sold outside of Danish borders, amounted to almost DKK 70 bn. in 2015. The merchanting goods were primarily sold in other EU countries., Purchases abroad by Danish enterprises of foreign goods for processing abroad have increased over ten years from virtually zero to almost DKK 16 bn. In the same period, purchases by Danish enterprises of processing services abroad have risen from almost DKK , 1 bn. to almost DKK 9 bn., Get as pdf, Large increase in sales of goods abroad by Danish manufacturing industries, Colophone, Large increase in sales of goods abroad by Danish manufacturing industries, Subject group: Economy, Released: 18 November 2016 09:00, No. 2016:22, ISSN pdf: 2446-0354, Contact:, Pia Nielsen, Telephone: +45 30 61 93 05

Analysis