Transforming the COVID-19 Threat into an Opportunity: The Pandemic as a Stage to the Sustainable Economy

The aim of this research is to assess the impact of the economic shocks of supply and demand generated by the COVID-19 crisis on the climate sphere at the level of the Member States of the European Union. In this respect, a macroeconomic model was used to obtain firstly an estimate of the measure of...

Full description

Saved in:
Bibliographic Details
Published in:Sustainability 2021-02, Vol.13 (4), p.2088
Main Authors: Oncioiu, Ionica, Duca, Ioana, Postole, Mirela Anca, Georgescu (Crețan), Georgiana Camelia, Gherghina, Rodica, Grecu, Robert-Adrian
Format: Article
Language:English
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The aim of this research is to assess the impact of the economic shocks of supply and demand generated by the COVID-19 crisis on the climate sphere at the level of the Member States of the European Union. In this respect, a macroeconomic model was used to obtain firstly an estimate of the measure of demand shock and secondly an estimate of the supply of the economy. These milestones were eventually used to estimate the impact of the two economic shocks on the level of greenhouse gas emissions. The obtained results show that both the shock from the aggregate demand area and that from the aggregate supply area had the effect of decreasing the level of greenhouse gases, leading to a positive effect on the environment. From a quantitative point of view, the model estimates show that, as a result of the manifestation of the two cumulative shocks, the level of greenhouse gas emissions could decrease by about 10%.
ISSN:2071-1050
2071-1050
DOI:10.3390/su13042088