Effective policy design for a sustainable economy

Bretschger, Lucas and Valente, Simone (2023) Effective policy design for a sustainable economy. European Economic Review, 155. ISSN 0014-2921

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Abstract

Reorienting the global economy towards a sustainable path requires a thorough analysis of environmental pollution and natural resource depletion through the lens of sustainability economics – a field that is now mature and increasingly tackling problems that are relevant to policymaking at the microeconomic, macroeconomic, and global levels. The economic profession has moved from the core results established by the early literature to the most pressing issues of our time – in particular, the fact that both market and policy-coordination failures may cause unsustainable development. This paper presents the central issues in a formal integrated approach to economic sustainability analysis. We extend the traditional framework by summarizing novel contributions on fair and efficient burden sharing, the long-run internalisation of external effects, optimal environmental policy mix, and international environmental agreements. Specific topics include global climate policy, population growth, incomplete markets, the circular economy, and macroeconomic shocks. These elements form the foundation of an effective policy design for a an economy that is intrinsically compatible with the natural environment.

Item Type: Article
Uncontrolled Keywords: sdg 8 - decent work and economic growth,sdg 12 - responsible consumption and production,sdg 13 - climate action ,/dk/atira/pure/sustainabledevelopmentgoals/decent_work_and_economic_growth
Faculty \ School: Faculty of Social Sciences > School of Economics
UEA Research Groups: Faculty of Social Sciences > Research Groups > Economic Theory
Faculty of Social Sciences > Research Groups > Environment, Resources and Conflict
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Depositing User: LivePure Connector
Date Deposited: 24 May 2023 13:31
Last Modified: 29 May 2023 00:43
URI: https://ueaeprints.uea.ac.uk/id/eprint/92165
DOI: 10.1016/j.euroecorev.2023.104462

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