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Ecological Macroeconomics: An application to climate change

Armon Rezai, Lance Taylor and Reinhard Mechler ()

SRE-Discussion Papers from WU Vienna University of Economics and Business

Abstract: Ecological Economics has not paid sufficient attention to the macroeconomic level both in terms of theory and modelling. Yet, key topics debated in the field of Ecological Economics such as sustainable consumption, reduction in working time, the degrowth debate, the energy-exergy link, and the rebound effect require a wholistic and macro perspective. While this deficiency has been identified before and Keynesian economics has been generally suggested as a potent vehicle to establish economic system's thinking, very little concrete theorizing and practical suggestions have been put forward. We give further credence to this suggestion and demonstrate the value of tackling key concerns of Ecological Economics within a Keynesian growth framework. Contextualized by an application to climate change we suggest that policy relevant recommendations need to be based on a consistent view of the macroeconomy. We end with laying out key building blocks for a Keynesian model framework for an Ecological Macroeconomics. (author's abstract)

Keywords: ecological macroeconomics; climate change; Umweltökonomie; Makroökonomie; Wirtschaftswachstum; Keynessche Theorie; Klimaänderung (search for similar items in EconPapers)
Date: 2012-04-17
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Related works:
Journal Article: Ecological macroeconomics: An application to climate change (2013) Downloads
Working Paper: Ecological Macroeconomics: An application to climate change (2012) Downloads
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