Aniruddh Mohan, Akshay Thyagarajan, Nicholas Muller, 31 July 2020

The nexus of economic development and environmental impact is at the core of current policy debates. This is often captured by an ‘environmental Kuznets curve’, an inverted-U shaped relationship between income and pollution levels. This column argues that, in contrast to conventional approaches, sustainability analysis should focus on the monetary damages of pollution, rather than the physical tonnage of emissions. It highlights a large divergence in the Kuznets curves based on these two approaches. In addition, it proposes a measure of GDP growth which adjusts for monetary pollution damages.

Jan Hagemejer, Jakub Mućk, 29 May 2019

Fragmentation of production has made it difficult to assess the contribution of exports to economic growth. This column decomposes growth into value added absorbed at home and that exported. Empirical results show that economic growth in Central and East European countries after 1995 was mainly driven by exports. The pace of convergence in Europe for exported value added was around four times faster than for domestic value added.

Kevin Daly, Tim Munday, 28 November 2015

The fallout from the Global Crisis and its aftermath has been deeply damaging for European output. This column uses a growth accounting framework to explore the pre-Crisis and post-Crisis growth dynamics of several European countries. The weakness of post-Crisis real GDP in the Eurozone manifested itself in a decline in employment and average hours worked. However, decomposing growth for the Eurozone as a whole conceals significant differences across European countries, in both real GDP growth and its factor inputs.

Vox eBooks

Events

CEPR Policy Research