{"id":119734,"date":"2024-01-22T22:41:46","date_gmt":"2024-01-22T21:41:46","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/119734\/"},"modified":"2024-11-14T13:04:33","modified_gmt":"2024-11-14T12:04:33","slug":"foundations-for-an-ecological-macroeconomics-literature-review-and-model-development-wwwforeurope-working-paper-no-65","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/119734\/","title":{"rendered":"Foundations for an Ecological Macroeconomics. Literature Review and Model Development. WWWforEurope Working Paper No. 65"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-119734","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"This milestone provides a broad overview of model development under Work Package 205 of the WWWforEurope project. It describes briefly the challenge of modelling combined economic, ecological and financial systems and sets out a series of objectives for modelling the socio-economic transition towards sustainability. It highlights modelling needs in relation to full employment, financial stability, and social equity under conditions of constrained resource consumption and ecological limits. The paper also provides a broad overview of the literatures relevant to the task in hand. It then describes two separate modelling approaches, developed by two different teams within WWWforEurope. One of these approaches, led by WIFO, uses a Dynamic New Keynesian (DYNK) model to explore the implications of different long-run equilibrium paths for energy consumption. The other approach, led by Surrey in collaboration with York University, is motivated primarily by the desire to integrate a comprehensive model of the financial economy into a model of a (resource and emission-constrained) real economy. This paper sets out the overarching structure of each of these approaches. It discusses the similarities and differences between the two approaches and makes some proposals for the management of subsequent milestones in relation to WP 205.","onlinedate":"2014-08-01 02:00:00","lang":"English","publication_series":"WWWforEurope: Welfare, Wealth and Work for Europe","publication_date":"20140801","publication_date_year":"","publication_date_full":false,"publication_num_pages":"39","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":414556,"zip":null,"link":"","monthly_report":false,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"","journal":"","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[81966],"research_groups":[3655],"collaboration":"","persons":[12521,13231,12805,3675,3743],"persons_data":"[{\"personId\":12521,\"personName\":\"Tim Jackson\",\"organisationNames\":[]},{\"personId\":13231,\"personName\":\"Ben Drake\",\"organisationNames\":[\"University of Surrey\"]},{\"personId\":12805,\"personName\":\"Peter Victor\",\"organisationNames\":[\"York University\"]},{\"personId\":3675,\"personName\":\"Kurt Kratena\",\"organisationNames\":[]},{\"personId\":3743,\"personName\":\"Mark Sommer\",\"organisationNames\":[]}]","clients":[10692,10704,10722,32851],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_bookanthology rendering_apa rendering_bookanthology_apa\\\">Jackson, T., Drake, B., Victor, P.<span>, Kratena, K.<\\\/span><span>, &amp; Sommer, M.<\\\/span> (2014). <span><em>Foundations for an Ecological Macroeconomics. Literature Review and Model Development. WWWforEurope Working Paper No. 65<\\\/em><\\\/span>. (WWWforEurope: Welfare, Wealth and Work for Europe). WIFO, University of Surrey, York University. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/47497\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/47497<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_bookanthology rendering_vancouver rendering_bookanthology_vancouver\\\">Jackson T, Drake B, Victor P<span>, Kratena K<\\\/span><span>, Sommer M<\\\/span>. <span class=\\\"title\\\"><span>Foundations for an Ecological Macroeconomics. Literature Review and Model Development. WWWforEurope Working Paper No. 65<\\\/span><\\\/span>. WIFO, University of Surrey, York University; 2014.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_bookanthology rendering_bibtex rendering_bookanthology_bibtex\\\"><div>@book{2dbf5be6962c45d5aabf07e117bd7c18,<\\\/div><div>  title     = \\\"Foundations for an Ecological Macroeconomics. Literature Review and Model Development. WWWforEurope Working Paper No. 65\\\",<\\\/div><div>  abstract  = \\\"This milestone provides a broad overview of model development under Work Package 205 of the WWWforEurope project. It describes briefly the challenge of modelling combined economic, ecological and financial systems and sets out a series of objectives for modelling the socio-economic transition towards sustainability. It highlights modelling needs in relation to full employment, financial stability, and social equity under conditions of constrained resource consumption and ecological limits. The paper also provides a broad overview of the literatures relevant to the task in hand. It then describes two separate modelling approaches, developed by two different teams within WWWforEurope. One of these approaches, led by WIFO, uses a Dynamic New Keynesian (DYNK) model to explore the implications of different long-run equilibrium paths for energy consumption. The other approach, led by Surrey in collaboration with York University, is motivated primarily by the desire to integrate a comprehensive model of the financial economy into a model of a (resource and emission-constrained) real economy. This paper sets out the overarching structure of each of these approaches. It discusses the similarities and differences between the two approaches and makes some proposals for the management of subsequent milestones in relation to WP 205.\\\",<\\\/div><div>  author    = \\\"Tim Jackson and Ben Drake and Peter Victor and Kurt Kratena and Mark Sommer\\\",<\\\/div><div>  note      = \\\"Foundations for an Ecological Macroeconomics\\\",<\\\/div><div>  year      = \\\"2014\\\",<\\\/div><div>  month     = aug,<\\\/div><div>  language  = \\\"English\\\",<\\\/div><div>  series    = \\\"WWWforEurope: Welfare, Wealth and Work for Europe\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_bookanthology rendering_ris rendering_bookanthology_ris\\\"><p>TY  - BOOK<\\\/p><p>T1  - Foundations for an Ecological Macroeconomics. Literature Review and Model Development. 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One of these approaches, led by WIFO, uses a Dynamic New Keynesian (DYNK) model to explore the implications of different long-run equilibrium paths for energy consumption. The other approach, led by Surrey in collaboration with York University, is motivated primarily by the desire to integrate a comprehensive model of the financial economy into a model of a (resource and emission-constrained) real economy. This paper sets out the overarching structure of each of these approaches. It discusses the similarities and differences between the two approaches and makes some proposals for the management of subsequent milestones in relation to WP 205.<\\\/p><p>AB  - This milestone provides a broad overview of model development under Work Package 205 of the WWWforEurope project. It describes briefly the challenge of modelling combined economic, ecological and financial systems and sets out a series of objectives for modelling the socio-economic transition towards sustainability. 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It discusses the similarities and differences between the two approaches and makes some proposals for the management of subsequent milestones in relation to WP 205.<\\\/p><p>M3  - Study<\\\/p><p>T3  - WWWforEurope: Welfare, Wealth and Work for Europe<\\\/p><p>BT  - Foundations for an Ecological Macroeconomics. Literature Review and Model Development. WWWforEurope Working Paper No. 65<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Foundations for an Ecological Macroeconomics. Literature Review and Model Development. 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