Carnevali, E., Deleidi, M., Pariboni, R. et al. (1 more author) (2023) Economy-Finance-Environment-Society Interconnections In a Stock-Flow Consistent Dynamic Model. Review of Political Economy. ISSN 0953-8259
Abstract
This work takes inspiration from four theoretical strands: recent developments in ecological macroeconomics; the Schumpeterian framework of evolutionary economics that emphasises the entrepreneurial role of the State; the stock-flow consistent approach to macroeconomic modelling; and the supermultiplier model. Building upon these approaches, we develop a formal model that reproduces key interactions between the economy, the financial sector, the ecosystem and the society. We test and assess the effects of several fiscal policies. We find that, in principle, mission-oriented innovation policies are the most effective option in supporting innovation and growth, while reducing income inequality. However, lacking a ‘green’ and progressive taxation system, they are unlikely to reverse the current trend in atmospheric temperature.
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Copyright, Publisher and Additional Information: | © 2023 Informa UK Limited, trading as Taylor & Francis Group. This is an author produced version of an article published in Review of Political Economy. Uploaded in accordance with the publisher's self-archiving policy. | ||||
Keywords: | Supermultiplier; mission-oriented policy; stock-flow consistent modelling; climate change; rebound effect | ||||
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Institution: | The University of Leeds | ||||
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Economics Division (LUBS) (Leeds) | ||||
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Depositing User: | Symplectic Publications | ||||
Date Deposited: | 04 Oct 2023 14:45 | ||||
Last Modified: | 08 Nov 2023 15:06 | ||||
Status: | Published online | ||||
Publisher: | Taylor and Francis | ||||
Identification Number: | https://doi.org/10.1080/09538259.2023.2217776 |
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