Publications

16 publications found, searching for 'Climate '

• Policy Notes April 21, 2025

  Remembering Pope Francis’s Call for a Universal Basic Wage

  Pavlina R. Tcherneva
  Abstract

  On April 21, 2025, a day after Easter Sunday, the world mourned the passing of His Holiness Pope Francis. Five years earlier, on Easter Sunday, April 12, 2020—amid the devastating COVID-19 pandemic—he issued a powerful plea for economic justice, urging leaders to address the deepening crisis of insecurity faced by workers. His call for a universal […]

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• Working Paper No. 1080 April 04, 2025

  Protecting Social Security: The Case Against Extending the Full Retirement Age

  Edward Lane
  Abstract

  The Social Security “full retirement age” (FRA) is the age at which retirement income benefits are available without reduction for early commencement. Presently, that age is 67 for those born in 1960 or later. This paper is about the unfair and unnecessary threat to reduce Social Security retirement income benefits (Romig 2023) by extending the […]

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• Working Paper No. 1074 December 24, 2024

  Political Conflict, Green Capabilities, and Growth Patterns in a Kaleckian Small Open Economy

  José Eduardo Alatorre, Gabriel Porcile, Julia Juarez, and Juan Carlos Moreno-Brid
  Abstract

  The paper presents a Kaleckian extended model exploring sustainable development, defined as growth that is economically stable, socially inclusive, and environmentally respectful. The model links CO2 emission trends with public investments in green capabilities, represented by the share of renewables in total energy supply. It incorporates three key actors: green capitalists (G), brown capitalists (B), […]

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• Policy Notes November 07, 2024

  Trump Wins While Americans Vote for Progressive Policies

  Pavlina R. Tcherneva
  Abstract

  On November 5, 2024, American voters sent Donald Trump back to the White House. In 2020, he lost his bid for reelection to Joe Biden, after winning in 2016 against Hillary Clinton (but only thanks to the electoral college). This time, however, Trump won the popular vote. All the new energy that surrounded the Harris-Walz campaign […]

  Download Policy Note 2024/3 PDF (182.86 KB)
• Working Paper No. 1047 April 08, 2024

  “Just Transition” in India and Fiscal Stance: Analyzing the Tax Buoyancy of the Extractive Sector

  Lekha S. Chakraborty, and Emmanuel Thomas
  Abstract

  Against the backdrop of fiscal transition concomitant to energy transition policies with climate change commitments, revenue from the extractive sector needs a recalibration in the subnational fiscal space. Extractive tax is the payment due to the government in exchange for the right to extract the mineral substance. Extractive tax has been fixed and paid in […]

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• Working Paper No. 1041 February 02, 2024

  Amazon Green Recovery and Labor Market in Brazil

  Luiza Nassif Pires, Gilberto Tadeu Lima, Pedro Romero Marques, Tainari Taioka, and José Bergamin
  Abstract

  Announced in June 2021, the never-implemented Green Recovery Plan for the Brazilian Legal Amazon Region (GRP) would be a green transition initiative to be carried out by the state governments of the region. The GRP represented the first large-scale proposal aiming at the transition to a low-carbon economy in Brazil and offered a preliminary framework […]

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• Working Paper No. 1033 November 20, 2023

  The Impact of Climate Change on the Palestinian Sectoral Reallocation of Labor

  Sameh Hallaq, and Yousuf Daas
  Abstract

  The research leverages yearly variations in climate variables, such as rainfall and temperature, across the West Bank from 1999 to 2018 to assess their influence on individuals' decisions to stay in the agricultural sector. The main findings suggest that an increase in rainfall in the previous year is associated with a higher proportion of workers […]

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• Working Paper No. 1031 October 09, 2023

  A Stock-Flow Ecological Model from a Latin American Perspective

  Lorenzo Nalin, Giuliano Toshiro Yajima, Leonardo Rojas Rodriguez, Esteban Pérez-Caldentey, and José Eduardo Alatorre
  Abstract

  This study aims to develop an ecological stock-flow consistent (SFC) model based on the Latin American–stylized facts regarding economic, financial, and environmental features. We combine the macro-financial theoretical framework by Pérez-Caldentey et al. (2021, 2023) and the ecological modeling of Carnevali et al. (2020) and Dafermos et al. (2018). We discuss two scenarios that test […]

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• Working Paper No. 1023 July 14, 2023

  Climate Change and Fiscal Marksmanship

  Lekha S. Chakraborty, Amandeep Kaur, Ajay Narayan Jha, and Balamuraly B
  Abstract

  According to the theory of efficient markets, economic agents use all available information to form rational expectations. The rational expectations hypothesis asserts that information is scarce, the economic system generally does not waste information, and that expectations depend specifically on the structure of the entire system. Fiscal marksmanship—the accuracy of budgetary forecasting—can be one important […]

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• Working Paper No. 1013 January 18, 2023

  The Economic and Environmental Effects of a Green Employer of Last Resort

  Giuliano Toshiro Yajima, Nikolaos Rodousakis, and George Soklis
  Abstract

  We assess the sectoral impact of the implementation of a “green” employer of last resort (ELR) program in the US, based on an environmental modification of an extended Kurz’s (1985) multiplier framework and data from OECD Input-Output tables. We use these multipliers to estimate the impact of an “optimal” ELR, designed to maximize the impact […]

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• Working Paper No. 995 November 03, 2021

  The Employer of Last Resort Scheme and the Energy Transition

  Giuliano Toshiro Yajima
  Abstract

  The health and economic crises of 2020–21 have revived the debate on fiscal policy as a major tool for stabilization and meeting long-term goals. The massive surge in unemployment, due to the economic disruption of the lockdown measures, has increased the interest in policies that target employment directly instead of trying to achieve it via […]

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• Working Paper No. 990 July 02, 2021

  Ecological Fiscal Transfers and State-level Budgetary Spending in India

  Lekha S. Chakraborty, Amandeep Kaur, Ranjan Kumar Mohanty, and Divy Rangan
  Abstract

  Using panel data models, we analyze the flypaper effects—whether intergovernmental fiscal transfers or states’ own income determine expenditure commitments—on ecological fiscal spending in India. The econometric results show that the unconditional fiscal transfers, rather than the states’ own income, determine ecological expenditure in the forestry sector at subnational levels in India. The results hold when […]

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• Public Policy Brief No. 148 January 31, 2020

  Can We Afford the Green New Deal?

  L. Randall Wray, and Yeva Nersisyan
  Abstract

  In this policy brief, Yeva Nersisyan and Senior Scholar L. Randall Wray argue that assessing the “affordability” of the Green New Deal is a question of whether there are suitable and sufficient real resources than can be mobilized to implement this ambitious approach to climate policy. Only after a careful resource accounting can we address […]

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• Working Paper No. 931 May 30, 2019

  How to Pay for the Green New Deal

  L. Randall Wray, and Yeva Nersisyan
  Abstract

  This paper follows the methodology developed by J. M. Keynes in his How to Pay for the War pamphlet to estimate the “costs” of the Green New Deal (GND) in terms of resource requirements. Instead of simply adding up estimates of the government spending that would be required, we assess resource availability that can be […]

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• Working Paper No. 839 June 01, 2015

  Inside Money in a Kaldor-Kalecki-Steindl Fiscal Policy Model

  Tai Young-Taft
  Abstract

  We hope to model financial fragility and money in a way that captures much of what is crucial in Hyman Minsky’s financial fragility hypothesis. This approach to modeling Minsky may be unique in the formal Minskyan literature. Namely, we adopt a model in which a psychological variable we call financial prudence (P) declines over time […]

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• Working Paper No. 722 May 11, 2012

  Guaranteed Green Jobs

  Antoine Godin
  Abstract

  In most economies, the potential of saving energy via insulation and more efficient uses of electricity is important. In order to reach the Kyoto Protocol objectives, it is urgent to develop policies that reduce the production of carbon dioxide in all sectors of the economy. This paper proposes an analysis of a green-jobs employer-of-last-resort (ELR) […]

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