This paper presents a macroeconomic model of endogenous growth that takes into consideration the economic impact of climate change, the pivotal role of private debt and income distribution. The main finding is that, even though the short-run impact of climate change on economic fundamentals may seem prima facie rather minor, its long-run dynamic consequences...

To what extent can a worldwide carbon pricing foster the transition towards a low-carbon economy and help mitigate the effects of global warming? We address this question using a stock-flow consistent, financial and non-linear macrodynamics with uncertainty, calibrated for the world economy

In a stock-flow consistent macrodynamic model featuring two crucial endogenous destabilizing channels, namely debt accumulation and climate change, we perform a sensitivity analysis on four fundamental parameters of the climate and economic systems.