Back to Search
Start Over
The Transition to a Sustainable Prosperity-A Stock-Flow-Consistent Ecological Macroeconomic Model for Canada
- Source :
- Ecological Economics. 177:106787
- Publication Year :
- 2020
- Publisher :
- Elsevier BV, 2020.
-
Abstract
- This paper presents a stock-flow consistent (SFC) macroeconomic simulation model for Canada. We use the model to generate three very different stories about the future of the Canadian economy, covering the half century from 2017 to 2067: a Base Case Scenario in which current trends and relationships are projected into the future, a Carbon Reduction Scenario in which measures are introduced specifically designed to reduce Canada's carbon emissions, and a Sustainable Prosperity Scenario which incorporates additional measures to improve environmental, social and financial conditions across society. The performance of the economy is tracked using two composite indicators constructed especially for this study: an environmental burden index (EBI) which describes the environmental performance of the model; and a composite sustainable prosperity index (SPI) which is based on a weighted average of seven economic, social and environmental performance indicators. Contrary to the widely accepted view, the results suggest that ‘green growth’ (in the Carbon Reduction Scenario) may be slower than ‘brown growth’. More importantly, we show (in the Sustainable Prosperity Scenario) that improved environmental and social outcomes are possible even as the growth rate declines to zero.
- Subjects :
- Economics and Econometrics
010504 meteorology & atmospheric sciences
Natural resource economics
media_common.quotation_subject
010501 environmental sciences
01 natural sciences
Macroeconomic model
Greenhouse gas
Green growth
Degrowth
Economics
Prosperity
Performance indicator
Weighted arithmetic mean
Stock (geology)
0105 earth and related environmental sciences
General Environmental Science
media_common
Subjects
Details
- ISSN :
- 09218009
- Volume :
- 177
- Database :
- OpenAIRE
- Journal :
- Ecological Economics
- Accession number :
- edsair.doi...........617356709e414d777e075bf9dedfbd7a