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A Macroeconomic Framework for Long-Term Resilience and Growth

Author

Listed:
  • David Bartolini
  • Andrew Ceber
  • Ms. Valerie Cerra
  • Pedro Juarros
  • Yujin Kim
  • Junko Mochizuki
  • Christine J. Richmond

Abstract

This paper describes a macroeconomic framework integrating disasters in the analysis of growth and long-term economic resilience. The framework is a dynamic growth model incorporating endogenous human and physical capital accumulation, fiscal policy interventions, and public debt dynamics. The model allows for flexible analyses of slow and fast onset climate impacts and fiscal policy reforms to foster sustainable long-term growth and adaptation, including enhanced spending on resilient investment and non-structural adaptation options. Focusing on adaptation policies, specifically on investing in resilient infrastructure, we present the country cases of Benin and Jamaica, examining tradeoffs and synergies in macro-fiscal policies for addressing sustainable long-term growth and the impacts of disasters.

Suggested Citation

  • David Bartolini & Andrew Ceber & Ms. Valerie Cerra & Pedro Juarros & Yujin Kim & Junko Mochizuki & Christine J. Richmond, 2025. "A Macroeconomic Framework for Long-Term Resilience and Growth," IMF Working Papers 2025/135, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2025/135
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