August 25, 2021
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A stock-flow-fund ecological macroeconomic model
Authors: Yannis Dafermosa, Maria Nikolaidib, Giorgos Galanis
https://doi.org/10.1016/j.ecolecon.2016.08.013Get rights and content
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Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)
open access
Abstract
This paper develops a stock-flow-fund ecological macroeconomic model that combines the stock-flow consistent approach of Godley and Lavoie with the flow-fund model of Georgescu-Roegen. The model has the following key features. First, monetary and physical stocks and flows are explicitly formalised taking into account the accounting principles and the laws of thermodynamics. Second, Georgescu-Roegen's distinction between stock-flow and fund-service resources is adopted. Third, output is demand-determined but supply constraints might arise either due to environmental damages or due to the exhaustion of natural resources. Fourth, climate change influences directly the components of aggregate demand. Fifth, finance affects macroeconomic activity and the materialisation of investment plans that determine ecological efficiency. The model is calibrated using global data. Simulations are conducted to investigate the trajectories of key environmental, macroeconomic and financial variables under (i) different assumptions about the sensitivity of economic activity to the leverage ratio of firms and (ii) different types of green finance policies.
https://www.sciencedirect.com/science/article/pii/S0921800916301343
1-s2.0-S0921800916301343-gr1_lrg.jpg
Fig. 1. Main interactions between the ecosystem, the financial system and the macroeconomy in the model.
Ecological Economics
Volume 131, January 2017, Pages 191-207
https://doi.org/10.1016/j.ecolecon.2016.08.013
and this
Two main suggestions:
Measure the whole, and chksum (then find the missing sink) - rather than trying to measure the parts.
Make charcoal and bury it 18 deep in the soil all over the world. The carbon will take 1,000 + years to release.
Biofuels, Bioproducts and Biorefining
Volume 11, Issue 6 p. 945-954
In the Field Open Access
An open-source biomass pyrolysis reactor
Dominic Woolf, Johannes Lehmann, Stephen Joseph, Christopher Campbell, Farid C. Christo, Largus T. Angenent
First published: 11 September 2017
https://doi.org/10.1002/bbb.1814
An open-source biomass pyrolysis reactorDominic Woolf, Johannes Lehmann, Stephen Joseph, Christopher Campbell, Farid C. Christo, Largus T. AngenentFirst published: 11 September 2017
An open-source biomass pyrolysis reactor
Dominic Woolf, Johannes Lehmann, Stephen Joseph, Christopher Campbell, Farid C. Christo, Largus T. Angenent
First published: 11 September 2017