This paper describes the introduction of biophysical constraints into a disaggregated dynamic New Keynesian (DYNK) model using the example of different resource use scenarios for Europe, derived from global UNEP scenarios. The DYNK model covers 59 industries and five income groups of households...

A significant reduction of the global environmental consequences of European consumption and production activities are the main objective of the policy simulations carried out in this paper. For this purpose three different modelling approaches have been chosen. Two macroeconomic models...