A macroeconomic critique of integrated assessment environmental models: the case of Brazil

Rafael Cattan and Florent McIsaac
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Rafael Cattan: Institute of Economics, University of Campinas (UNICAMP), Brazil

Review of Keynesian Economics, 2021, vol. 9, issue 2, 204-231

Abstract: This paper surveys integrated assessment models applied to Brazil. We show that these models belong to the environmental economics literature that fails to consider some of the most important aspects of the modern macroeconomic dynamics in Brazil. These features include monetary and financial balances, income distribution, and physical limits to growth. We argue that the most suitable framework for modeling a low-carbon Brazilian economy would incorporate both Post-Keynesian and ecological economics principles. This new modeling method would strengthen our understanding of environmental mitigation action consequences and would allow us to explore new climate-policy packages.

Keywords: Brazil; climate change; ecological economics; integrated assessment model; low-carbon economy (search for similar items in EconPapers)
JEL-codes: E12 E17 Q50 Q57 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:elg:rokejn:v:9:y:2021:i:2:p204-231

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