Bericht
Modeling growth, distribution, and the environment in a stock-flow consistent framework
Economic policy in the EU faces a trilemma of solving three challenges simultaneously - growth, distribution, and the environment. In order to assess policies that address these issues simultaneously, economic models need to account for both sector-sector and sector-environment feedbacks within a single framework. This paper presents a multi-sectoral stock- flow consistent (SFC) macro model where a demand-driven economy consisting of multiple institutional sectors - firms, energy, households, government, and financial - interacts with the environment. The model is calibrated for the EU region and five policy scenarios are evaluated; low consumption, a capital stock damage function, carbon taxes, higher share of renewable energy, and technological shocks to productivity. Policy outcomes are tracked on overall output, unemployment, income and income distributions, energy, and emission levels. Results show that investment in mitigation technologies allows for absolute decoupling and ensures that the above three issues can be solved simultaneously.
- Language
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Englisch
- Bibliographic citation
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Series: WWWforEurope Policy Paper ; No. 18
- Classification
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Wirtschaft
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
General Aggregative Models: Forecasting and Simulation: Models and Applications
Macroeconomics: Production
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
- Subject
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ecological macroeconomics
stock-flow consistent
growth
distribution
environment
European Union
- Event
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Geistige Schöpfung
- (who)
-
Naqvi, Asjad
- Event
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Veröffentlichung
- (who)
-
WWWforEurope
- (where)
-
Vienna
- (when)
-
2015
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Bericht
Associated
- Naqvi, Asjad
- WWWforEurope
Time of origin
- 2015
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