ABSTRACT
As current production and consumption patterns exceed planetary boundaries, many leaders have stressed the need to adopt green economic stimulus policies in the aftermath of the COVID-19 pandemic. This paper provides an integrated multi-stakeholder framework to design an economic recovery strategy aligned with climate stabilisation objectives. We first employ quantitative energy and economic models, and then a multi-criteria decision process in which we engage social actors from government, enterprises and civil society. As a case study, we select green recovery measures that are relevant for a European Union country and assess their appropriateness with numerous criteria related to climate resilience and socio-economic sustainability. Results highlight trade-offs between immediate and long-run effects, economic and environmental objectives, and expert evidence and societal priorities. Importantly, we find that a ‘return-to-normal' economic stimulus is environmentally unsustainable and economically inferior to most green recovery schemes. © 2022 The Author(s)
ABSTRACT
Simulations incorporating economic input/output models have been applied recently to assess the extent of labor shocks from COVID 19 and their impact on supply chains at the macro level. Research is being done to extend these simulations for application to other scenarios of economic shocks beyond what was triggered through COVID related labor reductions. The problem of foreign supply chain dependency is of particular concern to localized regions as a significant portion of their economy is dependent on supplies from overseas. The extended simulation approach proposed here aims to optimize the degree to which the increased inventory supply targets allow for improved economic productivity and the ideal allocation per industry which most efficiently achieves this mitigation. This paper considers the application of the proposed simulation framework to study the regional dependence on the Asian supply chain. The case study presented in this paper demonstrates the economic insight that can be obtained through simulation analysis to support regional government decision making for the state of Alabama. © 2022 Society for Modeling & Simulation International (SCS)
ABSTRACT
Simulations incorporating economic input/output models have been applied recently to assess the extent of labor shocks from COVID 19 and their impact on supply chains at the macro level. Research is being done to extend these simulations for application to other scenarios of economic shocks beyond what was triggered through COVID related labor reductions. The problem of foreign supply chain dependency is of particular concern to localized regions as a significant portion of their economy is dependent on supplies from overseas. The extended simulation approach proposed here aims to optimize the degree to which the increased inventory supply targets allow for improved economic productivity and the ideal allocation per industry which most efficiently achieves this mitigation. This paper considers the application of the proposed simulation framework to study the regional dependence on the Asian supply chain. The case study presented in this paper demonstrates the economic insight that can be obtained through simulation analysis to support regional government decision making for the state of Alabama. © 2022 SCS.