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Ecological macroeconomics: An application to climate change

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  • Rezai, Armon
  • Taylor, Lance
  • Mechler, Reinhard

Abstract

Ecological economics has not paid sufficient attention to the macroeconomic level both in terms of theory and modeling. 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 holistic and macro perspective. While this deficiency has been identified before and Keynesian economics has been generally suggested as a potent vehicle to establish economic systemic 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.

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Bibliographic Info

Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 85 (2013)
Issue (Month): C ()
Pages: 69-76

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Handle: RePEc:eee:ecolec:v:85:y:2013:i:c:p:69-76

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Web page: http://www.elsevier.com/locate/ecolecon

Related research

Keywords: Ecological macroeconomics; Climate change;

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References

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  1. Terry Barker & Annela Anger & Unnada Chewpreecha & Hector Pollitt, 2012. "A new economics approach to modelling policies to achieve global 2020 targets for climate stabilisation," International Review of Applied Economics, Taylor & Francis Journals, vol. 26(2), pages 205-221, October.
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  17. Martínez-Alier, Joan & Pascual, Unai & Vivien, Franck-Dominique & Zaccai, Edwin, 2010. "Sustainable de-growth: Mapping the context, criticisms and future prospects of an emergent paradigm," Ecological Economics, Elsevier, vol. 69(9), pages 1741-1747, July.
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Cited by:
  1. Roder van Arkel & Koen Vermeylen, 2013. "The Interest Rate and Capital Durability, and the Importance of Methodological Pluralism," Tinbergen Institute Discussion Papers 13-202/VI, Tinbergen Institute.

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