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A Proposal for the Greening of Textbook Macro: 'IS-LM-EE'

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Author Info
Anthony Heyes () (Department of Economics, Royal Holloway, University of London)

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Abstract

The celebrated ecological economist Herman Daly asked "Is there no a neglected connection between the environment and the macroeconomics we teach? If there is no such thing as environmental macro in our textbooks, should there be? If so what should it look like?". Emphasising the need to breach widely-used undergraduate texts we show that an 'environmental equilibrium' (EE) line can be added to the standard IS-LM diagram that remains the work horse of undergraduate macro-teaching and is widely used for applied policy analysis. The familiar comparative static analyses of fiscal and monetary policy are reworked. It is argued that chapter sections detailing the environmental extension should be incorporated into all IS-LM-using texts.

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Paper provided by Department of Economics, Royal Holloway University of London in its series Royal Holloway, University of London: Discussion Papers in Economics with number 99/7.

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Date of creation: Feb 2000
Date of revision: Feb 2000
Handle: RePEc:hol:holodi:9907

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Related research
Keywords: Sustainable development - IS/LM;

Find related papers by JEL classification:
Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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  1. Jonathan M. Harris, . "01-09 "Macroeconomic Policy and Sustainability"," GDAE Working Papers 01-09, GDAE, Tufts University. [Downloadable!]
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This page was last updated on 2009-11-5.

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