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Ecological Macroeconomics: An application to climate change

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  • Armon Rezai

    ()

  • Lance Taylor
  • Reinhard Mechler

    ()

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.

(This abstract was borrowed from another version of this item.)

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Bibliographic Info

Paper provided by Institute for the Environment and Regional Development, Department of Socioeconomics, Vienna University of Economics and Business in its series SRE-Disc with number sre-disc-2012_06.

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Length: 22 pages
Date of creation: 2012
Date of revision:
Handle: RePEc:wiw:wiwsre:sre-disc-2012_06

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  17. Clive L Spash & Heinz Schandl, 2009. "Growth, the Environment and Keynes: Reflections on Two Heterodox Schools of Thought," Socio-Economics and the Environment in Discussion (SEED) Working Paper Series 2009-01, CSIRO Sustainable Ecosystems.
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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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