Substitutability or complementarity? Re-visiting Heyes' IS-LM-EE model

摘要

Increasing concerns and heated debate over the economic impacts of climate change, sustainable growth, large-scale environmental accidents, and national energy, all of which tend to have a decidedly macroeconomic focus, are likely to continue for the foreseeable future. Efforts to build into economic models elements that address these broader issues are a welcome development as they increase understanding and refine policy implications.