Environmental issues are usually considered as drivers of allocative distortions within markets. The corrections of such distortions, for example, by recourse to the internalization of externalities, are firmly rooted within the market framework. Therefore the traditional view is that...

This paper illustrates the differences in policy outcomes that would follow when environmental macroeconomic frameworks are employed in lieu of standard macroeconomic frameworks. The non-recognition of real environmental capacity constraints could explain, at least in part, the inability of...

The aim of this paper is to demonstrate the distinction in policy intervention when frameworks in environmental macroeconomics are applied as opposed to standard frameworks in macroeconomics. The key difference between the standard macroeconomic framework and the environmental macroeconomic...