Macroeconomics and Climate Change Flashcards

Flashcards about Macroeconomics and Climate Change in Ireland

exogenous

The COVID-19 pandemic in 2020 was a major ___ shock that significantly disrupted the Irish economy.

contraction

In Phase 1 of the COVID-19 pandemic, Ireland experienced an immediate and severe ___ in economic activity.

AD

During the COVID-19 pandemic, the ___ curve shifted rightward due to expansive fiscal policy.

TWSS

The ___ subsidised employers to retain staff on payroll even during business closures.

Universal Basic Services (UBS)

A ___ policy would involve government provision of free or heavily subsidised access to core services such as broadband internet, childcare, transport, and healthcare.

sustainability

Ireland’s Climate Action Plan 2023 and the EU Green Deal aim to transition the economy toward ___.

supply-side constraints

In the short run, climate policies introduce ___ and demand-side stimuli.

total factor productivity (TFP)

In the long run, investment in green infrastructure and renewable energy technologies can increase ___.

Green Investment Tax Credit

A targeted ___ would incentivise private sector investment in low-carbon technologies, sustainable logistics, and energy efficiency improvements.

dividend

A climate ___ is a system where revenues from carbon taxes are redistributed directly to households

heat stress

Sectors reliant on outdoor or physical labour experience reduced productivity due to ___.

EU Emissions Trading System (ETS)

The ___ creates a market price for carbon, internalising the environmental cost of emissions.

DICE

___ uses smooth, continuous damage functions based on average temperature increases failing to account for abrupt, non-linear thresholds

high pure rate of time preference

DICE applies a relatively ___ which downplays the welfare of future generations by discounting long-term climate damages heavily.