Integrating Environmental Sustainability into Macroeconomic Frameworks: The Eco-Keynesian Cross

DOI: https://doi.org/10.46551/epp2024v12n0107

Authors

DOI:

10.46551/epp2024v12n0107

Keywords:

Ecological Macroeconomics, eco-Keynesian cross, ecological macroeconomic policies, rebound effect

Abstract

The ecological transition hinges on ecological structural change, necessitating smart macroeconomic policies. Incorporating ecological considerations into macroeconomic modelling constitutes a pivotal area of inquiry that examines the nexus between environmental sustainability and economic expansion. This article proposes a macroeconomic modelling to establish a foundational analytical framework to address this challenge. Incorporating ecological considerations into macroeconomic modelling constitutes a pivotal area of inquiry that examines the nexus between environmental sustainability and economic expansion. Contributing to the post-Keynesian Ecological Macroeconomics field, this paper proposes an eco-Keynesian cross due to its simplicity and widespreadness for teaching macroeconomics to illustrate the macroeconomic perspective of green targets strategies in a closed economy. Green public and private investments have the potential to enhance output through the multiplier effect and improve environmental efficiency. However, these investments may also induce rebound effects, resulting in a net increase in pollution intensity within the economy. The model underscores the potential trade-off between social and environmental objectives, which an ecological perspective seeks to surmount by advocating for sustainable and inclusive industrial development.

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Author Biographies

Chiara Grazini, University of Tuscia (UNITUS, Italy )

University of Tuscia, Viterbo (Italy), & Structuralist Development Macroeconomics Research group.

ORCID: https://orcid.org/0000-0002-7305-4945; email: c.grazini@unitus.it.     

Giulio Guarini, University of Tuscia (UNITUS, Italy)

 University of Tuscia, Viterbo (Italy), & Structuralist Development Macroeconomics Research group.

ORCID: https://orcid.org/0000-0002-9159-3360; email: giulioguarini@unitus.it.   

José Luis Oreiro, University of Brasilia (UnB, Brazil)

Economics Department, University of Brasília, (Brazil), & Structuralist Development Macroeconomics Research group. ORCID: https://orcid.org/0000-0002-4989-2770; lattes: http://lattes.cnpq.br/3747519200935517 email: joreiro@unb.br.     

Possui graduação em Ciências Econômicas pela Universidade Federal do Rio de Janeiro (1992), mestrado em Economia pela Pontifícia Universidade Católica do Rio de Janeiro (1996) e doutorado em Economia da Industria e da Tecnologia pela Universidade Federal do Rio de Janeiro (2000). Atualmente é Professor Associado III do Departamento de Economia da Universidade de Brasília, Pesquisador Nível I do CNPq, Pesquisador Associado do Centro de Estudos do Novo-Desenvolvimentismo da Fundação Getúlio Vargas de São Paulo, Membro Senior da Post-Keynesian Economics Society e da European Association for Evolutionary Political Economy e líder do grupo de pesquisa "Macroeconomia Estruturalista do Desenvolvimento" cadastrado no diretório de grupos de pesquisa do CNPq. Foi Presidente da Associação Keynesiana Brasileira (2013-2015). Foi professor do Instituto de Economia da Universidade Federal do Rio de Janeiro (2013-2017), do departamento de economia da Universidade de Brasilia (2008-2013) e da Universidade Federal do Paraná (2003-2008), onde exerceu o cargo de Diretor do Centro de Pesquisas Econômicas (CEPEC), de vice-coordenador do Programa de Pós-Graduação em Desenvolvimento Econômico (2004-2008) e de coordenador do Boletim Economia Tecnologia (2005-2007), do qual foi o fundador. Tem experiência na área de Economia, com ênfase em Dinâmica Macroeconômica, atuando principalmente nos seguintes temas: acumulação de capital, crescimento econômico, autonomia de política monetária, taxa de juros e dinâmica não linear. Publicou mais 130 artigos em revistas científicas no Brasil e no exterior como, por exemplo, o Journal of Post Keynesian Economics, International Review of Applied Economics, Investigacion Economica, Revista Brasileira de Economia, Revista de Economia Política, Economia e Sociedade e Estudos Econômicos. De acordo com o critério IDEAS/REPEC está entre os 5 mais produtivos pesquisadores em economia do Brasil (em Fevereiro de 2022). É co-organizador dos livros "Agenda Brasil: políticas econômicas para o crescimento com estabilidade de preços" publicado pela Monole em 2003, "Sistema Financeiro: uma análise do setor bancário brasileiro" publicado pela Campus em 2007, "Política Monetária, Bancos Centrais e Metas de Inflação: teoria e experiência brasileira", publicado pela FGV Editora em 2009 e "An Assessment of the Global Impact of Financial Crisis" publicado pela Palgrave Macmillan em 2010. É co-autor do livro "Developmental Macroeconomics: new developmentalism as a growth strategy" publicado pela Routledge em 2015, autor do livro "Macroeconomia do Desenvolvimento: uma perspectiva keynesiana" publicado pela LTC em 2016) e do livro "Macrodinâmica Pós-Keynesiana: crescimento e distribuição de renda" (Alta Books, 2018). É também co-autor do livro "Macroeconomia da Estagnação Brasileira" (Alta Books, 2021). Ganhou o Prêmio Brasil Economia na categoria Livro (2017 e 2020). É editor associado do Review of Keynesian Economics (ROKE) e da Paolo Sylos Labini Quarterly Review. É membro da Post Keynesian Economics Society e da European Association for Evolutionary Political Economy. De acordo com o AD Scientific Index, José Luis Oreiro está situado na 46 posição entre os top 100 economistas da América Latina (Abril, 2022)

 

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Published

2024-05-21

How to Cite

Grazini, C., Guarini, G., & Oreiro, J. L. (2024). Integrating Environmental Sustainability into Macroeconomic Frameworks: The Eco-Keynesian Cross: DOI: https://doi.org/10.46551/epp2024v12n0107. Journal of Economics and Public Policies, 12(1), 93–105. https://doi.org/10.46551/epp2024v12n0107

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Vol. 12 No. 1 (2024): Journal of Economics and Public Policy

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Artigos | Articles

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