Macroeconomic effects of green recovery programs

Angela Köppl and Margit Schratzenstaller

Eurasian Economic Review, 2024, vol. 14, issue 1, No 4, 86 pages

Abstract: Abstract This paper reviews the literature on (potential) green recovery measures in the context of the global financial crisis and the COVID-19 pandemic, focusing on their macroeconomic effects. We find that spending for renewables and energy efficiency is particularly promising with regard to macroeconomic impacts. Moreover, the empirical evidence suggests that green recovery measures are associated with larger macroeconomic effects compared to conventional non-green recovery spending. We also derive lessons learned with regard to open questions and issues as well as accompanying framework conditions which could enhance a macroeconomically successful implementation of green recovery measures.

Keywords: Green recovery; Green multipliers; COVID-19 pandemic; Global financial crisis; Recovery packages (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s40822-023-00250-y

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