Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Egg-Timer: Environmental Policy and Sustainability Location: D-107 Session Chair: Akash Kumar Biswal, Indian Institute of Science Education and Research Bhopal, India | |
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Dynamic Environmental Debt and Policy Levers: Insights from Fiscal and Monetary Instruments Indian Institute of Science Education and Research Bhopal, India, India Eco-friendly economic growth is not possible without environmentally supportive macroeconomic policies. This paper develops a theoretically dynamic environmental debt function to examine how fiscal and monetary instruments shape environmental debt across economies. Further, the same has been empirically analyzed using the lag fixed effect (LFE) model and validated with the Driscoll-Kraay standard error model. The results indicate that expansionary fiscal policy has an ex-post policy reaction effect on environmental debt, in which governments expand abatement in response to realized pollution levels rather than using it as an increasing input, as confirmed by the autoregressive distributed lag (ARDL) model. In contrast, contractionary monetary policy helps to reduce environmental debt. The study underscores that government abatement expenditure should be proactive (ex-ante) rather than reactive (ex-post), based on anticipated pollution levels rather than realized pollution levels. | |