Quotation Rezai, Armon, Taylor, Lance, Foley, Duncan. 2018. Economic Growth, Income Distribution, and Climate Change. Ecological Economics. 146 164-172.


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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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Publication's profile

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
Open Access N

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)
Economics of Inequality FI (Details)
Socioeconomics of Work Group AB (Details)
Research areas (ÖSTAT 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)
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