TY - JOUR
T1 - Environmental macroeconomics
T2 - Environmental policy, business cycles, and directed technical change
AU - Fischer, Carolyn
AU - Heutel, Garth
PY - 2013/6
Y1 - 2013/6
N2 - Environmental economics has traditionally fallen in the domain of microeconomics, but approaches from macroeconomics have recently been applied to studying environmental policy. We focus on two macroeconomic tools and their application to environmental economics. First, real-business-cycle models can incorporate pollution and pollution policy and can be used to answer several questions. For example, how should environmental policy adjust to business cycles? How do different types of policies fare in a context with business cycles? Second, endogenous technological growth is an important component of environmental policy. Several studies ask how policy can be designed both to tackle emissions directly and to influence the adoption of clean technologies. We focus on these two aspects of environmental macroeconomics but emphasize that there are many other potential applications.
AB - Environmental economics has traditionally fallen in the domain of microeconomics, but approaches from macroeconomics have recently been applied to studying environmental policy. We focus on two macroeconomic tools and their application to environmental economics. First, real-business-cycle models can incorporate pollution and pollution policy and can be used to answer several questions. For example, how should environmental policy adjust to business cycles? How do different types of policies fare in a context with business cycles? Second, endogenous technological growth is an important component of environmental policy. Several studies ask how policy can be designed both to tackle emissions directly and to influence the adoption of clean technologies. We focus on these two aspects of environmental macroeconomics but emphasize that there are many other potential applications.
UR - http://www.scopus.com/inward/record.url?scp=84886899681&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84886899681&partnerID=8YFLogxK
U2 - 10.1146/annurev-resource-091912-151819
DO - 10.1146/annurev-resource-091912-151819
M3 - Article
AN - SCOPUS:84886899681
VL - 5
SP - 197
EP - 210
JO - Annual Review of Resource Economics
JF - Annual Review of Resource Economics
SN - 1941-1340
ER -