Climate change is already a systemic risk to the global economy. While there is a large body of literature documenting potential economic consequences, there is scarce research on the link between climate change and sovereign risk. This paper therefore investigates the impact of climate change...

This article is an addition to a series of online publications on the natural science foundations of the global economy. In Parts I-XI, we presented the concepts of physical macroeconomics published earlier in interdisciplinary journals and books. These logically interconnected concepts are...

Some of the topical problems of the harmonization of the global economy are outlined.Harmony is treated in Physical Macroeconomics as a dynamic balance of all energy and informational factors. Harmony is an objective property of the sustainable development of all living systems.Primarily,...

The notions of information, symmetry and harmony in their application to the economy are discussed.For living systems, the creation of information means an increase in the information component of their working potential. This increase is the main feature of biological evolution and sustainable...

The relationship between the distribution of GDP and sustainable economic development is considered.The main objective of the global economy harmonization is to ensure a balanced distribution of the world GDP. The growing economic inequality, financial and social crises as well as environmental...

The existence of the macroeconomic cycle in the global economy is discussed. The macroeconomic cycle was evolutionary formed under the dominant influence of the annual cycle of grain production. Thus, in the current global economy, the money supply to GDP ratio is about the same as it was in the...

This article continues a series of online publications on the natural science foundations of the global economy. Physical macroeconomics includes a logically consistent set of concepts supported by macroeconomic empirical evidence.The central concept is that the economy is a social living system...

The paper continues a series of publications on the natural science foundations of the global economy. Physical macroeconomics treats the global economy as a living system, formed during biological and socio-economic evolution.In this Part VI of physical macroeconomics, qualitatively...

The paper continues a series of publications on the natural science foundations of the global economy. Physical macroeconomics treats the global economy as a living system, formed during biological and socio-economic evolution.In this part of physical macroeconomics, the energy sources of the...

The principle of system similarity (isomorphism) between economic value and thermodynamic free energy is discussed. Based on this principle, macroeconomic efficiency is defined as the ratio of GDP and primary energy. It is demonstrated that moderate inflation and macroeconomic efficiency growth...