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Monitoring the climate impact of fiscal policy : lessons from tracking the COVID-19 response
Eltokhy, Khaled; Funke, Katja; Huang, Guohua; Kim, Yujin; … - 2021
In the wake of the COVID-19 crisis, governments around the world announced unprecedented fiscal packages to address the economic impact of the crisis. The unusually large scale of the packages was accompanied by widespread calls for "greening" them to meet the dual goals of economic recovery and...
Persistent link: https://www.econbiz.de/10012796277
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Optimal control of a global model of climate change with adaptation and mitigation
Atolia, Manoj; Loungani, Prakash; Maurer, Helmut; … - 2018
The Integrated Assessment Model (IAM) has extensively treated the adverse effects of climate change and the appropriate mitigation policy. We extend such a model to include optimal policies for mitigation, adaptation and infrastructure investment studying the dynamics of the transition to a low...
Persistent link: https://www.econbiz.de/10011978566
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Climate disaster risks : empirics and a multi-phase dynamic model
Mittnik, Stefan; Semmler, Willi; Haider, Alexander - 2019
Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often entail negative feedback e?ects on the macroecon-omy. Research on disaster risks has...
Persistent link: https://www.econbiz.de/10012102117
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Human Capital Convergence : International Evidence
Sab, Randa - 2001
In the growth literature, evidence on income convergence is mixed. In the development literature, health and education … indicators are also often used. This study examines whether health and education levels are converging across countries and … human capital convergence. The results confirm that investments in education and health are closely linked. We find …
Persistent link: https://www.econbiz.de/10014403631
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Debt, investment, and growth in developing countries with segmented labor markets
Buffie, Edward F.; Zanna, Luis-Felipe; Adam, Christopher S. - 2020
intertemporal trade-off. Because investment in education affects labor productivity with a long lag, it takes 15+ years before net …
Persistent link: https://www.econbiz.de/10012252029
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Mitigating climate change : growth-friendly policies to achieve net zero emissions by 2050
Jaumotte, Florence; Liu, Weifeng; McKibbin, Warwick J. - 2021
Background paper prepared for the October 2020 IMF World Economic Outlook. This paper provides a detailed presentation of the simulation results from the October 2020 IMF World Economic Outlook chapter 3 and an additional scenario with carbon pricing only for comparison with the comprehensive...
Persistent link: https://www.econbiz.de/10012605547
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Macroeconomic and financial policies for climate change mitigation : a review of the literature
Krogstrup, Signe; Oman, William - 2019
Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The...
Persistent link: https://www.econbiz.de/10012103638
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A possible approach to fiscal rules in small islands : incorporating natural disasters and climate change
Nakatani, Ryota - 2019
A big challenge for the economic development of small island countries is dealing with external shocks. The Pacific Islands are vulnerable to natural disasters, climate change, commodity price changes, and uncertain donor grants. The question that arises is how should small developing countries...
Persistent link: https://www.econbiz.de/10012103680
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Macroeconomic outcomes in disaster-prone countries
Cantelmo, Alessandro; Melina, Giovanni; Papageorgiou, Chris - 2019
Using a dynamic stochastic general equilibrium model, we study the channels through which natural disaster shocks affect macroeconomic outcomes and welfare in disaster-prone countries. We solve the model using Taylor projection, a solution method that is shown to deal effectively with...
Persistent link: https://www.econbiz.de/10012112128
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Populism and civil society
Boeri, Tito; Mishra, Prachi; Papageorgiou, Chris; … - 2018
Populists claim to be the only legitimate representative of the people. Does it mean that there is no space for civil society? The issue is important because since Tocqueville (1835), associations and civil society have been recognized as a key factor in a healthy liberal democracy. We ask two...
Persistent link: https://www.econbiz.de/10011978365