THE MACROECONOMICS OF A GREEN ECONOMY

This chapter aims to enable its readers to: i) Appreciate the need for a clear and comprehensive macroeconomic framework for research and policy analysis to support an inclusive green economy; ii) Understand the concept of multiple capital stocks – including human, physical, natural, social, institutional – and their utility in advancing the inclusive green economy; iii) Become aware of the limitations of existing modeling tools in macroeconomics for guiding the transition process and short-run macroeconomic policy; and iv) Appreciate the role of economic accounts and statistics in informing policy and, the benefits of developing and adopting extended frameworks of the System of National Accounts.