Rezai, Armon, Taylor, Lance, Foley, Duncan. 2018. Economic Growth, Income Distribution, and Climate Change. Ecological Economics 146, 164-172.
BibTeX
Abstract
We present a model based on Keynesian aggregate demand and labor productivity growth to study how climate damage affects the long-run evolution of the economy. Climate change induced by greenhouse gas lowers profitability, reducing investment and cutting output in the short and long runs. Short-run employment falls due to deficient demand. In the long run productivity growth is slower, lowering potential income levels. Climate policy can increase incomes and employment in the short and long runs while a continuation of business-as-usual leads to a dystopian income distribution with affluence for few and high levels of unemployment for the rest.
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Status of publication | Published |
---|---|
Affiliation | WU |
Type of publication | Journal article |
Journal | Ecological Economics |
Citation Index | SSCI |
WU Journalrating 2009 | A |
WU-Journal-Rating new | FIN-A, STRAT-B, VW-C, WH-B |
Language | English |
Title | Economic Growth, Income Distribution, and Climate Change |
Volume | 146 |
Year | 2018 |
Page from | 164 |
Page to | 172 |
Reviewed? | Y |
URL | https://www.sciencedirect.com/science/article/pii/S0921800917312041 |
DOI | http://dx.doi.org/10.1016/j.ecolecon.2017.10.020 |
Associations
- People
- Rezai, Armon (Details)
- External
- Foley, Duncan (NSSR, United States/USA)
- Taylor, Lance (NSSR, United States/USA)
- Organization
- Institute for Ecological Economics IN (Details)
- Research areas (Ă–STAT Classification 'Statistik Austria')
- 2928 Environmental economics (Details)
- 5325 Political economics (Details)
- 5334 Political economic policy (Details)
- 5335 Political economic theory (Details)
- 5341 Economic policy (Details)
- 5353 Environmental economics (Details)
- 5924 Environmental economics (Details)