SUSTAINABLE MACROECONOMICS, CLIMATE RISKS AND ENERGY TRANSIT IBD

Sinopsi

Given the industrialized worldâÇÖs historical dependence on fossil fuel-based energy resources and the now-realized perils of moving beyond the earthâÇÖs carbon budget, this book explores the myriad challenges of climate change andáináreaching a low-carbon economy.áReconciling the medium-term competing, yet frequently complementary, needs for transition policies, the book provides guidelines for complex and often conflicting climate policy tasks. The book presents empirical trends in the use of carbon-emitting resources and evaluates market-driven short-termism and its adverse impact on resource use and the environment, itáemphasizes a medium-term macroeconomic perspective for theátransition.á The authorsáattemptáa paradigm shift towardsáa framework of sustainable macroeconomics.áTheyásurveyárelevant historical models, conductáempirical and numerical analyses ofthe climate change-relevant dynamic models, provideáempirical illustrations, and evaluateádiverse policy options and implementationsátogether withátheir historical evolution.á New analytical issues are also áconsidered, e.g.,ástrategic behavior inátheáenergy and resource sectors, energy competition andátheádynamics of market sharesáinánew energy átechnology, and supporting policiesáfor dealing with the tipping pointsáencounteredáin climate change.á The authors suggest a multitude of market-based strategies and public fiscal, monetary, and financial policies, and longer-run planning for resource extractioná-allásuitableáforádrivingásustainable growth andáaátransformation of theáenergy sector.á Theábookáalsoáexaminesáthe multiple delaying forces slowing the transition to a low-carbon economy, these typically arise from short-termism, lock-ins, irreversibility, leakages, non-cooperative games, and other political strategies.áThus, they explain the snailâÇÖs pace evolution of current national and global climate policies.ááá The bookáwill appealáto scholars and students of economics and environmentaláscience. It is also relevant for policymakers and practitioners in multilateral institutions, research institutions as well aságovernments and ministries of countriesáinterested in alternative energy sources, climateáeconomists, andáthose who study theáimplementation of sustainable and lowácarbon-based policies.á