MacroSD

MacroSD is a recently established network of European researchers dealing with macro-economic analyses of sustainable development. The network serves as a forum to exchange experiences and discuss issues relating to the following objectives in theory, empirics and policy:

1. Theory: Theoretical Integration of Sustainable Development into Macro-Economics

Traditional macro-economic theory is oblivious of the natural basis of the economy. MacroSD searches for consistent ways to integrate the concept of sustainable development in both static and dynamic macro-economic theories. Among the fundamental research questions are the following:

  • How can the concept of a throughput economy embedded in the closed system "earth" be introduced to traditional macro-economic theory that is based on the idea of isolated economic systems?
  • How can this change of paradigm be implemented in static economic modeling?
  • Is it possible to use traditional growth models as a basis of modeling sustainable development? If yes - how can they be adjusted to the new paradigm?
  • In which way can the keyword "de-linking" be fitted into these adjusted dynamic models?
  • What are key macro-economic indicators also taking the paradigm of sustainable development into consideration?
  • How are those macro-economic indicators (extended by sustainability concerns) mutually related to each other?
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2. Empirics: Exchange on Empirical Analyses

The revised theory must be validated by empirical findings. And vice versa, empirically based findings help to refine theory building. Hence, integration of Sustainable Development into macro-economics is also partly depending on empirical findings. The research network will be used for discussing findings from their empirical work tackling the following questions:

  • Is there empirical evidence of theoretical considerations (as outlined under 1.)?
  • How do research methodologies need to change in order to create data for integrated macro-economic sustainability analyses?
  • Do European economies develop in a sustainable way? Is there evidence for a de-linking process?
  • The above posed questions necessarily lead to the phenomenom of structural change of European economies and thus to meso-economic issues: How is the aggregated economic development and the performance of European economy composed? Which are the dying sectors, which are the winners, and which will be the rising sectors of the future?

3.Policy: Possible policy Implications

Based on the empirically and theoretically gained understanding - macro-economic strategies for a Sustainable Development will be developed and possible implications for macro-economic policies will be outlined.  


Contact:

Stefan Moll, Sonja Klingert, Dr. Friedrich Hinterberger

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