Environmental Macroeconomics: Environmental Policy, Business Cycles, and Directed Technical Change

Garth Heutel and Carolyn Fischer

No 18794, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Environmental economics has traditionally fallen in the domain of microeconomics, but recently approaches from macroeconomics have been applied to studying environmental policy. We focus on two macroeconomic tools and their application to environmental economics. First, real business cycle models can incorporate pollution and pollution policy and be used to answer several questions. How can environmental policy adjust to business cycles? How do different types of policies fare in a context with business cycles? Second, endogenous technological growth is an important component of environmental policy. Several studies ask how policy can be designed to both tackle emissions directly and influence the adoption of clean technologies. We focus on these two aspects of environmental macroeconomics but emphasize that there are many other potential applications.

JEL-codes: E32 O44 Q50 Q55 (search for similar items in EconPapers)
Date: 2013-02
New Economics Papers: this item is included in nep-dge, nep-ene, nep-env, nep-mac and nep-res
Note: EEE EFG
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Citations: View citations in EconPapers (70)

Published as Carolyn Fischer & Garth Heutel, 2013. "Environmental Macroeconomics: Environmental Policy, Business Cycles, and Directed Technical Change," Annual Review of Resource Economics, Annual Reviews, vol. 5(1), pages 197-210, 06.

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Related works:
Journal Article: Environmental Macroeconomics: Environmental Policy, Business Cycles, and Directed Technical Change (2013)
Working Paper: Environmental Macroeconomics: Environmental Policy, Business Cycles, and Directed Technical Change (2013)
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