A Macroeconomic Framework for Long-Term Resilience and Growth
IMF Working Papers, July 4, 2025
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- A Macroeconomic Framework for Long-Term Resilience and Growth
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Bibliographic details
- Authors: David Bartolini, Andrew Ceber, Valerie Cerra, Pedro Juarros, Yujin Kim, Junko Mochizuki, Christine J. Richmond
- Published: July 4, 2025
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9798229015196.001
Framework overview
- Describes a macroeconomic framework integrating disasters in the analysis of growth and long-term economic resilience.
- Framework is a dynamic growth model incorporating endogenous human and physical capital accumulation, fiscal policy interventions, and public debt dynamics.
- Model allows for flexible analyses of slow and fast onset climate impacts and fiscal policy reforms to foster sustainable long-term growth and adaptation.
Model features and analytical scope
- Endogenous accumulation of human capital.
- Endogenous accumulation of physical capital.
- Explicit fiscal policy interventions and public debt dynamics.
- Flexible treatment of climate impacts: slow onset and fast onset disaster scenarios.
- Analysis includes both resilient investment and non-structural adaptation options.
Policy focus and recommendations (as presented)
- Emphasizes adaptation policies, specifically investing in resilient infrastructure.
- Highlights fiscal policy reforms to foster sustainable long-term growth and adaptation.
- Recommends enhanced spending on resilient investment and non-structural adaptation options.
- Examines tradeoffs and synergies in macro-fiscal policies for addressing sustainable long-term growth and the impacts of disasters.
Country case applications
- Presents the country cases of Benin and Jamaica to illustrate tradeoffs and synergies in macro-fiscal policy for resilience and growth.
Content in this bundle
- Working Paper