This paper suggests a theoretical model of inclusive green growth. Paper analyses development mechanism through which natural resource capital regenerates (or at least non-degrade) and contributes to economic growth. Climate change is a threat to save natural resources which is a crucial...

This paper analyses inclusive growth that focuses on the creation of opportunities for all. Inclusive growth allows people to contribute to and benefit from economic growth, while pro-poor growth approaches focusing on welfare of the poor only to reduce inequality. Recently, economics literature...

This note develops a simple macro model where the pattern of wealth accumulation is determined by a credit multiplier and by the way households react to short run fluctuations. In this setup, long term wealth dynamics are eventually characterized by the presence of endogenous cycles.

Recent literature on financial development and growth has highlighted the possibility of endogenous business cycles arising for particular levels of a given credit multiplier. These studies concentrate on loans directed to the productive activity and neglect the role of credit to consumption. In...

Following the literature on growth, cycles and financial development, this paper develops an endogenous growth model where the source of endogenous business cycles relates to the allocation of credit between productive investment and consumption. An important role is given to consumer sentiment,...

The new Keynesian monetary policy model studies the response of the inflation – output gap trade-off to policy decisions taken by the Central Bank, concerning the nominal interest rate time trajectory. Under an optimal setup, this model displays a saddle-path stable equilibrium and, if the...

The relation between the degree of financial development of an economy (measured by the extent in which constraints to credit exist) and fluctuations affecting the trend of economic growth, is a relevant theme of discussion in macroeconomics. Some of the literature on this field argues that the...

This paper develops a growth model to provide a theoretical explanation of the environmental Kuznets curve (EKC). Paper explains how EKC is shaped with economic development for a given technology. The EKC result arises in two ways – it can be observed from a single technology that matures and...

This paper analyses development mechanism through which natural resource capital regenerates and contributes to economic growth. Climate change challenges economic development in the 21st century but it also provides opportunity to grow with developing green. New development strategy is the...

Economic phenomena are interrelated. From a growth perspective, time analysis concerning the choices of present and future consumption and the choices between the allocation of scientific resources should be combined with a space analysis regarding the dissemination of economic activity through...