Macroeconomics versus environmental-macroeconomics | Macquarie University ResearchOnline

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Title: Macroeconomics versus environmental-macroeconomics
Related: Australian journal of agricultural and resource economics, Vol. 56, No. 3, (2012), p.332-346
DOI: 10.1111/j.1467-8489.2012.00579.x
Publisher: Wiley-Blackwell Publishing
Date: 2012
Author/Creator: Thampapillai, Dodo J
Description: When environmental macroeconomic frameworks replace standard macroeconomic frameworks differences in policy outcomes ensue. The non-recognition of real environmental capacity constraints could explain the inability of standard frameworks to deliver on certain macroeconomic goals. Herein, environmental capital depreciation is internalised into analytic frameworks of factor utilisation, aggregate demand and aggregate supply. The analyses reveal that restricted income and wage domains alongside limited environmental capacity constrain economic performance. Hence, environmental capacity expansion and initiatives towards sustainability warrant specific attention. Illustrations are made with reference to the Australian economy and her response to the 2008-2010 global financial crisis.
Description: 15 page(s)
Subject Keyword: Environmental capital
Subject Keyword: Environmental macroeconomics
Subject Keyword: Macroeconomics
Resource Type: journal article
Organisation: Macquarie University. Faculty of Science

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