Abstract
This review systematically introduces the current main research directions of environmental macroeconomics. Environmental macroeconomics research aims to study the relationship between economic development and the ecological environment and ultimately achieve green outcomes. At the same time, maintaining a moderate economic scale within the environmental setting is vital to get rid of excessive dependence on economic growth. This review draws on the traditional macroeconomics framework, focusing on economic growth, the economics of climate, economic policy, work, consumption, technological progress, industrial structure, and other topics. Although most studies have highlighted the importance of environmental issues, few empirical analyses combine environmental policy with economic policy, production, consumption, climate change, etc., and theories such as ecological, technological progress, business cycle, and environmental policy lack the necessary practical support. It is, therefore, difficult to put forward appropriate and measurable policy recommendations. Environmental macroeconomics is still a relatively new field of research, the theoretical system has flaws, and innovations in models still need to be improved. We suggest that environmental policy formulation be placed in a dynamic general equilibrium framework.
Highlights
In the past 40 years, more than half of the vertebrates on the planet have become extinct
This article draws on the traditional macroeconomic framework and systematically combs the main research directions of environmental macroeconomics from economic growth, economic policies, employment, consumption, technological progress, and industrial structure
There is a complex and contradictory relationship between the environment and economic growth: On the one hand, economic growth is an essential prerequisite for social stability and development and is the top priority of governments of all countries
Summary
In the past 40 years, more than half of the vertebrates on the planet have become extinct (international). Etc., offset their carbon dioxide or greenhouse gas emissions, achieve positive and negative offsets, and relatively “zero emissions” In this context, environmental macroeconomists put forward the enormous development contradictions that current society is facing: On the one hand, under the current energy-intensive growth model, high-speed economic growth is bound to approach the limit of environmental carrying capacity, and irrational change may lead to ecological disasters and cause severe and irreversible consequences. Environmental macroeconomics is still a relatively new field of research, the theoretical system has flaws, and innovations in models still need to be improved. Discussing it facilitates its further integration into mainstream economic research fields and paradigms.
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