The dynamic effects of pollution on growth and inflation: a derivation of the new keynesian environmental canonic model
DOI:
https://doi.org/10.6008/CBPC2179-6858.2019.004.0028Keywords:
Environment, Macroeconomics, Canonic Model, New Keynesian, ScarcityAbstract
The article constructs a three equation model, in which it relates ecological variables with traditional macroeconomic variables, assuming that economic agents decide to look ahead. In the so-called New Keynesian Environmental Canonic Model, environmental preservation is a condition for economic growth with price stability, in this model, pollution shocks cause inflation and fall in the aggregate product of the economy due to the scarcity of environmental assets.
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