Article
Environmental Sciences
Nafessa Mughal, Maryam Kashif, Asma Arif, John William Grimaldo Guerrero, Wilson C. Nabua, Gniewko Niedbala
Summary: This study re-examines the impacts of monetary and fiscal policy on environmental quality in ASEAN countries. The findings suggest that expansionary policies increase CO2 emissions, while contractionary policies decrease CO2 emissions.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2021)
Article
Environmental Sciences
Ayoub Zeraibi, Zahoor Ahmed, Khurram Shehzad, Muntasir Murshed, Solomon Prince Nathaniel, Haider Mahmood
Summary: The study found that expansionary fiscal policy in China leads to higher carbon dioxide emissions, while expansionary monetary policy inhibits them. Additionally, the relationship between China's economic growth and carbon dioxide emissions does not follow the Environmental Kuznets Curve hypothesis.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2022)
Article
Environmental Sciences
Muhammad Waqas Akbar, Peng Yuelan, Adnan Maqbool, Zeenat Zia, Muhammad Saeed
Summary: This study reveals a significant impact of fiscal policy instruments, economic development, and foreign direct investment on CO2 emissions in transportation, energy, and industrial sectors in Belt and Road countries. Furthermore, it is shown that public spending is a more reliable tool to reduce CO2 emissions in the BRI region.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2021)
Article
Mathematics, Applied
Francesco Purificato, Mauro Sodini
Summary: This paper examines the interaction between fiscal and monetary authorities in a monetary union in the context of debt stabilisation. The study finds that deviations from the target level of macroeconomic variables in the steady state equilibrium are determined by exogenous shocks or differences among countries. The paper reformulates the modelling in a time setting and considers the lack of coordination and imperfect prediction of decisions made by policy authorities. The findings indicate that simple decision processes do not guarantee convergence to steady-state equilibrium, and persistent fluctuations may occur if the fiscal authority's weighting of debt stability and output stability is too unbalanced.
COMMUNICATIONS IN NONLINEAR SCIENCE AND NUMERICAL SIMULATION
(2023)
Article
Environmental Sciences
Sana Ullah, Ilhan Ozturk, Sidra Sohail
Summary: This study in Pakistan finds that the impacts of different fiscal and monetary policy instruments vary, with positive and negative shocks in fiscal policy affecting carbon emissions differently in the short and long run, and positive shocks in monetary policy having a contradictory effect in terms of carbon emissions over time. Policymakers should consider utilizing both types of policy instruments to balance economic growth and environmental protection.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2021)
Article
Environmental Sciences
Usman Saleem Yousaf, Farhan Ali, Shabib Haider Syed, Babar Aziz, Saima Sarwar
Summary: This study is a pioneer attempt to use ecological footprints as a proxy for environmental sensitivity in regression analysis. It examines the impact of fiscal and monetary tools, green energy consumption, and economic growth on China's ecological footprints from 1990 to 2020. The study finds that China's rapid economic growth, fueled by fossil fuels, has a positive and statistically significant influence on ecological footprints. On the other hand, expansionary fiscal policies, contractionary monetary policies, and green energy use have a negative/inverse relationship with ecological footprints. The study also reveals reciprocal interconnections between ecological footprints and GDP as well as green energy consumption.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2022)
Article
Economics
Xi Wang, Jiayang Li, Guangbin Zhang
Summary: The existing literature on macroeconomic policy research primarily focuses on the impact of a single monetary or fiscal policy on China's macroeconomic fluctuations in a closed economy, neglecting the effect of a mix of monetary and fiscal policies. This paper addresses this gap by using an open economy dynamic stochastic general equilibrium model and applying impulse-response and welfare analyses. The results show that the optimal mix of monetary and fiscal policies varies depending on the specific shocks. This article explains China's economic fluctuations and highlights the importance of a mix of monetary and fiscal policies in response to different shocks.
CHINA & WORLD ECONOMY
(2022)
Article
Energy & Fuels
Konstantinos Bletsas, Georgios Oikonomou, Minas Panagiotidis, Eleftherios Spyromitros
Summary: Environmental control is a key component of states' policies, and reducing emissions requires strategies involving fiscal and monetary policy, as well as institutional factors such as government effectiveness and central bank characteristics. The study finds that economic growth, government expenses, and central bank independence are the main determinants of gas emissions in developing countries, while economic growth, government efficiency, and central bank transparency and independence play a significant role in developed countries. Governments should prioritize reducing control over central banks and directing government spending towards energy transition.
Article
Economics
Sonali Das, Wenting Song
Summary: This study examines the transmission of conventional monetary policy in China, and finds some progress but also persistent difficulties. The impact of coordinated monetary and fiscal policy measures is stronger than that of uncoordinated measures, highlighting the need for further improvements to the interest-rate based framework.
CHINA ECONOMIC REVIEW
(2023)
Article
Green & Sustainable Science & Technology
Muhammad Zubair Chishti, Manzoor Ahmad, Abdul Rehman, Muhammad Kamran Khan
Summary: This study explores the relationship between macroeconomic policies, consumer spending, energy consumption, and carbon dioxide emissions in BRICS economies from 1985 to 2014. The findings suggest that expansionary fiscal policy exacerbates the harmful effects of CO2e, while contractionary fiscal policy is effective in mitigating these effects.
JOURNAL OF CLEANER PRODUCTION
(2021)
Article
Economics
Solikin M. Juhro, Paresh Kumar Narayan, Bernard Njindan Iyke
Summary: This study examines the interaction between monetary and fiscal policies in Indonesia and finds that the reactions of policy rules have become more consistent over time, possibly due to recent policy coordination initiatives.
Article
Green & Sustainable Science & Technology
Sheng Li, Ahmed Samour, Muhammad Irfan, Madad Ali
Summary: This study fills the gaps in previous research by evaluating the impact of fiscal policy and environmental policy stringency on consumption-based carbon emissions, specifically within the context of the BRICS countries. Utilizing data from 1990 to 2019, the study incorporates factors such as disintegrated energy and economic growth to analyze their influence on carbon emissions. The results indicate that economic growth, nonrenewable energy, and government expenditure intensify carbon emissions, while taxation revenue, environmental policy stringency, and renewable energy mitigate them. Furthermore, panel causality tests demonstrate the predictive power of taxation revenue, government expenditure, environmental policy stringency, and renewable energy on carbon emissions, leading to policy recommendations based on these findings.
Article
Economics
Anmol Bhandari, David Evans, Mikhail Golosov, Thomas J. Sargent
Summary: In this study, optimal monetary and fiscal policies in a New Keynesian model with heterogeneous agents, incomplete markets, and nominal rigidities were analyzed. The approach utilized small-noise expansions and Frechet derivatives to quickly and efficiently approximate equilibria. The study found that responses of optimal policies to aggregate shocks were qualitatively different and significantly larger than in a representative agent economy, with insurance motives outweighing price stabilization motives due to heterogeneity and incomplete markets.
Article
Economics
Alemu Lambamo Hawitibo
Summary: The study finds that an increase in government spending has an expansionary effect on output, while shocks in net taxes have a contractionary effect. Fiscal policy shocks have a larger contribution than monetary policy shocks in explaining output fluctuations. Considering both policy variables improves the quality of studying the impact on output.
ECONOMIC CHANGE AND RESTRUCTURING
(2023)
Article
Economics
Rakesh Padhan, K. P. Prabheesh
Summary: This study examines the economic effects of the COVID-19 pandemic and suggests potential policy directions to mitigate these effects. Adverse economic impacts have been observed alongside fatalities, highlighting the need for greater coordination at national and international levels. The study recommends coordination among monetary, macroprudential, and fiscal policies to address the economic challenges posed by COVID-19.
ECONOMIC ANALYSIS AND POLICY
(2021)
Article
Environmental Sciences
Narasingha Das, Muntasir Murshed, Partha Gangopadhyay, Nicholas Apergis
Summary: This paper examines the impact of renewable energy use on the output elasticities of capital and labor, and subsequently, the factor shares in seven European Union countries from 1986 to 2015. The analysis reveals the presence of thresholds in renewable energy consumption, with significant consequences for factor shares. The study also finds changes in output elasticities for other threshold variables, such as oil and gas or coal production. These findings highlight the complex and non-linear relationship between energy sources and economic growth, emphasizing the importance of promoting renewable energy in national energy systems.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2023)
Article
Environmental Sciences
Palanisamy Manigandan, Md Shabbir Alam, Kuppusamy Alagirisamy, Duraisamy Pachiyappan, Muntasir Murshed, Haider Mahmood
Summary: This study investigates the prospects of BRICS nations in achieving economic and environmental sustainability, finding that financial development, primary energy consumption, and technological innovation have significant impacts on economic growth and carbon emissions in these countries.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2023)
Article
Environmental Sciences
Asif Ali Abro, Naushad Alam, Muntasir Murshed, Haider Mahmood, Mohammed Musah, A. K. M. Atiqur Rahman
Summary: This study examines the impacts of financial development, globalization, and energy efficiency on green growth of the Saudi Arabian economy. The findings suggest that financial development and trade globalization inhibit green growth, while financial globalization promotes it. Additionally, more efficient energy resource utilization not only directly boosts green growth but also mitigates the negative impacts of financial sector development.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2023)
Article
Environmental Sciences
Salman Tariq, Hasan Nawaz, Usman Mehmood, Zia Ul Haq, Ugur Korkut Pata, Muntasir Murshed
Summary: Forest fires and dust storms are significant sources of atmospheric pollutants, but their monitoring and pollution-reducing measures are not widely recognized worldwide. This study used remote sensing techniques to analyze air pollution caused by forest fires and dust storms in Pakistan. High levels of absorbing aerosols, such as dust, smoke, and mixed aerosols, were observed in central, eastern, and southeastern Pakistan. Dust aerosols were abundant in southwestern and central/southern Pakistan. Concentrations of NO2, CO, and HCHO were high during forest fire breakouts in central, eastern, and northeastern Pakistan. Air masses from northwestern Pakistan carried pollutants to eastern, northeastern, and southern Pakistan. These findings have implications for air quality and forest management in Pakistan.
ATMOSPHERIC POLLUTION RESEARCH
(2023)
Article
Mathematics, Interdisciplinary Applications
Moustafa Ismaiel Ali Ismaiel, Deyi Zhou, Roshdy Shawky Eladawy, Ahmed Abou El-Yazid A. El-Rasoul, Tarek Tawfik Yousef Alkhateeb, Tarek Abdullah, Haider Mahmood
Summary: The aim of the study was to identify the determinants of Egyptian trade, specifically with 11 rice-importing partner countries. The gravity model was used to analyze the impact of various factors on Egypt's exports and imports. The study found that Egyptian GDP, population, and export prices had significant effects on trade volumes. The distance between capitals also influenced Egyptian exports. Based on the findings, recommendations were made to enhance economic relations and focus on countries with high GDP and geographic proximity to Egypt.
Article
Thermodynamics
Xia Chen, Md Atikur Rahaman, Muntasir Murshed, Haider Mahmood, Md Afzal Hossain
Summary: This study assesses the impacts of petroleum consumption, economic growth, and technological innovation on carbon emissions in Bangladesh. The findings show that higher petroleum consumption and economic growth boost carbon emissions, while technological innovation reduces emissions. Recommendations include reducing dependency on petroleum, integrating environmental objectives into economic growth policies, and developing technology.
Correction
Geosciences, Multidisciplinary
Zahoor Ahmed, Mahmood Ahmad, Muntasir Murshed, Muhammad Ibrahim Shah, Haider Mahmood, Shujaat Abbas
Article
Energy & Fuels
Muntasir Murshed
Summary: This study examines the macroeconomic factors influencing national electrification rates in 74 developing countries. The results show that technological progress, renewable energy transition, economic growth, and institutional quality improvement can boost electrification rates. However, higher income inequality and crude oil prices inhibit improvement in electrification rates. Therefore, policy recommendations are suggested to enhance electrification rates.
Article
Economics
Mahmood Muttaqee, Maham Furqan, Hilary Boudet
Summary: Microgrids have the potential to improve grid reliability and resiliency, as well as decentralize, decarbonize, and democratize electricity provision. However, there is a lack of research on community responses to microgrid proposals. This study conducted case studies on four different community microgrid proposals in the U.S., finding that community leaders and local citizens initially viewed microgrids favorably, particularly those utilizing renewable energy. Utility-backed proposals providing additional benefits, such as cost savings and peak shaving, were more successful.
Article
Geosciences, Multidisciplinary
Md Shabbir Alam, Pachiyappan Duraisamy, Abu Bakkar Siddik, Muntasir Murshed, Haider Mahmood, Manigandan Palanisamy, Dervis Kirikkaleli
Summary: India declared its commitment to improving atmospheric health by declaring environmental agendas of turning carbon neutral by 2070 and lowering carbon intensity level. This study aims to examine the factors influencing atmospheric quality in India by estimating a composite atmospheric quality index and analyzing the association between renewable energy use and atmospheric pollution. The empirical results reveal that globalization, agricultural output expansion, population density, and urbanization affect atmospheric pollution, and the relationship between renewable energy consumption and atmospheric quality follows an inverted U-shape.
Article
Energy & Fuels
Yi-Ming Li, Khalid Khan, Aitazaz A. Farooque, Muntasir Murshed
Summary: The paper analyzes the threshold effect of technology innovation on renewable energy in the G10 countries through the panel threshold method. The findings indicate that technology innovation has a low impact on renewable energy below the threshold value, but a strong positive effect above the threshold due to increased spending on energy and technology. In addition, digitalization enables renewable integration, while analytics and artificial intelligence enhance production. It is crucial for countries to develop cost-effective, mature, and accessible renewable energy technology, focus on implementation, and commit to phasing out nuclear power and fossil fuels for better performance.
ENERGY STRATEGY REVIEWS
(2023)
Article
Energy & Fuels
Yuanyuan Hao, Xiangdong Li, Muntasir Murshed
Summary: With global climate change posing a major threat, many countries have prioritized carbon neutrality and a zero-carbon future. This study investigates the effects of environmental regulation (ER) and renewable energy technology innovation (RET) on environmental sustainability in China. The results show that ER is beneficial for reducing CO2 emissions, but has no positive impact on local and neighboring environmental quality. On the other hand, RET has a positive effect on the environment, but its carbon reduction impact diminishes at higher levels of economic development. This research assists policy makers in designing comprehensive strategies to enhance environmental sustainability through ER and RET in China.
ENERGY STRATEGY REVIEWS
(2023)
Article
Geosciences, Multidisciplinary
JingHua Yang, Hongxia Huang, Suman Sanyal, Samiha Khan, Mohammad Mahtab Alam, Muntasir Murshed
Summary: Economic expansion has negative impacts on environmental well-being, making the degradation of global environment a concerning issue worldwide. This study examines the influence of energy productivity improvement, institutional quality, and other macroeconomic factors on per capita carbon footprints in the G7 and E7 countries. The results show that efficient energy use reduces carbon footprints in E7 but not in G7 countries. Improving institutional quality directly reduces carbon footprints in both groups and also mediates and moderates the energy productivity-carbon footprint relationship in G7 and E7 countries, respectively. Additionally, financial globalization decreases carbon footprints in G7 countries while increasing them in E7 countries. Financial development uniformly increases carbon footprint levels in both groups. International trade does not influence carbon footprints in either group. These findings suggest the need for policy interventions beyond energy optimization to reduce consumption-based carbon footprints of concerned countries.
Article
Environmental Sciences
Muntasir Murshed
Summary: This study investigates the effect of energy productivity improvement, good governance, financial development, financial globalization, and international trade on carbon productivity using data from 116 global economies. The findings demonstrate that initially, energy productivity improvement cannot decouple economic growth from environmental pollution, but later on, effective energy use can achieve the decoupling by boosting carbon productivity. Additionally, good governance, financial development, and international trade contribute to carbon productivity enhancement, while foreign direct investment has no significant impact. The study highlights the heterogeneity of carbon productivity influencing factors across countries based on income, carbon productivity, energy productivity, governance, and regional locations. The results suggest that countries with higher energy productivity and good governance are more likely to achieve growth decoupling from environmental pollution, and recommend decoupling policies based on these findings.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2023)
Article
Geosciences, Multidisciplinary
Najia Saqib, Shujaat Abbas, Ilhan Ozturk, Muntasir Murshed, Malgorzata Tarczynska-Luniewska, Mohammad Mahtab Alam, Waldemar Tarczynski
Summary: This study examines the impact of economic growth, financial development, eco-friendly ICT, renewable energy, and human capital on lowering carbon footprint in the world's top polluting economies from 1993 to 2020. The findings suggest that eco-friendly ICT has the potential to effectively alleviate pollution, and financial development, renewable energy, and environmental technology are proposed as potential solutions for reducing carbon emissions.
