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Warwick James McKibbin AO (born 21 April 1957 in Sydney) is an Australian Professor of Economics at the Australian National University who works across a wide range of areas in applied policy. He has published more than 200 scholarly articles and several books and is internationally known for his contribution to global economic modelling.
He initially studied at the University of New South Wales, where he received a bachelor's degree with First Class Honours in both economics and econometrics and was awarded the University Medal in 1980. McKibbin then studied under Jeffrey Sachs at Harvard University and was awarded a PhD in economics in 1986.
He was founding director of the ANU Research School of Economics until stepping down in mid-2012. He moved to the Crawford School of Public Policy at ANU in August 2012. He is also an adjunct professor of the Australian Centre for Economic Research on Health. He formed the ANU Centre for Applied Macroeconomic Analysis (CAMA) in 2003 and was the inaugural director of CAMA.
He is also the professorial fellow of the Lowy Institute for International Policy in Sydney and a non-resident senior fellow at The Brookings Institution in Washington, D.C., where he co-directs the climate change program.
McKibbin is president of McKibbin Software Group Inc.
He was a former member of the board of the Reserve Bank of Australia after being appointed by the Howard Government in July 2001 until the end of his term at the end of July 2011. McKibbin was also a member of the Australian Prime Minister's Science Engineering and Innovation Council under the Howard Government (2005–2007).
He was made a Fellow of the Australian Academy of Social Sciences at the age of 40 and in 2003 was awarded the Centenary Medal For service to Australian society through economic policy and tertiary education.
The McKibbin-Sachs Global Model is a global economic model developed originally in 1984 jointly with Jeffrey Sachs and is a widely used intertemporal general equilibrium model of the world economy. [1]
The G-Cubed Model is a global economic model developed in 1991 jointly with Peter Wilcoxen and is a widely used multi-sector intertemporal general equilibrium model of the world economy. [2]
The Henderson McKibbin Taylor Rule for Monetary Policy was first proposed by Dale W. Henderson and Warwick McKibbin in 1993 [3] and simultaneously by John B. Taylor. [4]
The McKibbin-Wilcoxen Blueprint also known as the McKibbin Wilcoxen Hybrid. McKibbin (Australian National University) and Peter Wilcoxen (Syracuse University) outline various approaches to climate change policy. [5] They argue that the issue of taking action against climate change should be separated from the issue of whether Australia should ratify the Kyoto Protocol. Once the Kyoto Protocol is set aside it is clear that there are better options available. One such approach is the McKibbin-Wilcoxen Blueprint which is outlined in this article.
They argue that Kyoto Protocol-based carbon-trading systems are too inflexible/brittle to attract developing countries (particularly China & India). A better system would need to be flexible enough to refine outcomes over time (as new data become available).
McKibbin was awarded the Order of Australia in 2016 "For Distinguished Service to Education as an Economist, Particularly in the Area of Global Climate Policy, and to Financial Institutions and International Organisations" and the Centenary medal in 2003 "For Service to Australian Society through Economic Policy and Tertiary Education".
Political economy is the study of production and trade and their relations with law, custom and government; and with the distribution of national income and wealth. As a discipline, political economy originated in moral philosophy, in the 18th century, to explore the administration of states' wealth, with "political" signifying the Greek word polity and "economy" signifying the Greek word οἰκονομία. The earliest works of political economy are usually attributed to the British scholars Adam Smith, Thomas Malthus, and David Ricardo, although they were preceded by the work of the French physiocrats, such as François Quesnay (1694–1774) and Anne-Robert-Jacques Turgot (1727–1781). There is also a tradition which is almost as long, of critique of political economy.
Environmental finance is a field within finance that employs market-based environmental policy instruments to improve the ecological impact of investment strategies. The primary objective of environmental finance is to regress the negative impacts of climate change through pricing and trading schemes. The field of environmental finance was established in response to the poor management of economic crises by government bodies globally. Environmental finance aims to reallocate a businesses resources to improve the sustainability of investments whilst also retaining profit margins.
New Keynesian economics is a school of macroeconomics that strives to provide microeconomic foundations for Keynesian economics. It developed partly as a response to criticisms of Keynesian macroeconomics by adherents of new classical macroeconomics.
This aims to be a complete article list of economics topics:
Development economics is a branch of economics which deals with economic aspects of the development process in low income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether through public or private channels.
Kemal Derviş is a Turkish economist and politician, and former head of the United Nations Development Programme. He was honored by the government of Japan for having "contributed to mainstreaming Japan's development assistance policy through the United Nations". In 2005, he was ranked 67th in the Top 100 Public Intellectuals Poll conducted by Prospect and Foreign Policy magazines. He is Vice President and Director of the Global Economy and Development program at the Brookings Institution and part-time professor of international economics at the Graduate Institute of International and Development Studies in Geneva.
Jeffrey David Sachs is an American economist, academic, public policy analyst and former director of The Earth Institute at Columbia University, where he holds the title of University Professor. He is known as one of the world's leading experts on sustainable development, economic development, and the fight against poverty.
Edward Christian Prescott is an American economist. He received the Nobel Memorial Prize in Economics in 2004, sharing the award with Finn E. Kydland, "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles". This research was primarily conducted while both Kydland and Prescott were affiliated with the Graduate School of Industrial Administration at Carnegie Mellon University. According to the IDEAS/RePEc rankings, he was the 19th most widely cited economist in the world in 2013. In August 2014, Prescott was appointed as an Adjunct Distinguished Economic Professor at the Australian National University (ANU) in Canberra, Australia.
The Committee for Economic Development of Australia (CEDA) is a bipartisan, non-profit, national, independent, member-based organisation providing thought leadership and policy perspectives on the economic and social issues affecting Australia.
William Russell Easterly is an American economist, specializing in economic development. He is a professor of economics at New York University, joint with Africa House, and co-director of NYU’s Development Research Institute. He is a Research Associate of NBER, senior fellow at the Bureau for Research and Economic Analysis of Development (BREAD) of Duke University, and a nonresident senior fellow at the Brookings Institution in Washington DC. Easterly is an associate editor of the Journal of Economic Growth.
Stephen W. Salant is an economist who has done extensive research in applied microeconomics. His 1975 model of speculative attacks in the gold market was adapted by Paul Krugman and others to explain speculative attacks in foreign exchange markets. Hundreds of journal articles and books on financial speculative attacks followed.
Dale Weldeau Jorgenson is the Samuel W. Morris University Professor at Harvard University, teaching in the Department of Economics and John F. Kennedy School of Government. He served as Chairman of the Department of Economics from 1994 to 1997.
New classical macroeconomics, sometimes simply called new classical economics, is a school of thought in macroeconomics that builds its analysis entirely on a neoclassical framework. Specifically, it emphasizes the importance of rigorous foundations based on microeconomics, especially rational expectations.
Crawford School of Public Policy is a research-intensive policy school within the ANU College of Asia and the Pacific at The Australian National University which focuses on Australia and the Asia-Pacific region. The school was named after Sir John Crawford, and its current director is Professor Helen Sullivan.
The economics of climate change mitigation is the part of the economics of climate change related to climate change mitigation, that is actions that are designed to limit the amount of long-term climate change. Mitigation may be achieved through the reduction of greenhouse gas (GHG) emissions and the enhancement of sinks that absorb GHGs, for example forests.
This article is about certain views on the Kyoto Protocol to the United Nations Framework Convention on Climate Change.
The new neoclassical synthesis (NNS), which is now generally referred to as New Keynesian economics, and occasionally as the New Consensus, is the fusion of the major, modern macroeconomic schools of thought - new classical macroeconomics/real business cycle theory and early New Keynesian economics - into a consensus view on the best way to explain short-run fluctuations in the economy. This new synthesis is analogous to the neoclassical synthesis that combined neoclassical economics with Keynesian macroeconomics. The new synthesis provides the theoretical foundation for much of contemporary mainstream economics. It is an important part of the theoretical foundation for the work done by the Federal Reserve and many other central banks.
Takashi Negishi is a Japanese neo-Walrasian economist.
The Dynamic Integrated Climate-Economy model, referred to as the DICE model or Dice model, is a neoclassical integrated assessment model developed by 2018 Nobel Laureate William Nordhaus that integrates in the neoclassical economics, carbon cycle, climate science, and estimated impacts allowing the weighing of subjectively guessed costs and subjectively guessed benefits of taking steps to slow climate change. Nordhaus also developed the RICE model, a variant of the DICE model that was updated and developed alongside the DICE model. Researchers who collaborated with Nordhaus to develop the model include David Popp, Zili Yang, and Joseph Boyer.
Adele Cecile Morris is a senior fellow and policy director for Climate and Energy Economics at the Brookings Institution. Her expertise and interests include the economics of policies related to climate change, energy, natural resources, tax policy, and public finance. She was an unpaid advisor to the Hillary for America campaign.
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