Search

This paper highlights the role of climate change as a persistent, systemic, long-term inflationary driver. The inflationary impacts of climate change have been commonly overlooked in the economic literature. As global temperatures rise and extreme weather events become more frequent and severe, the inflationary effects of climate change will only intensify. These effects could be further exacerbated by the considerable pricing power of the corporate sector. As a persistent inflationary driver, climate change poses a serious threat to central banks' ability to maintain price stability mandates. The traditional tools of monetary policy will be ineffective in curbing climate change-induced price pressures. Further, growth-based Green New Deal and related fiscal policies will be ineffective at mitigating climate change and reducing its inflationary impacts. Unless degrowth solutions are sought, climate change and its price effects will only intensify over time. [ABSTRACT FROM AUTHOR]

The pace of innovation in construction today lags behind most other industries. To increase the investment attractiveness of the industry, a new mechanism is needed to generate, spread and introduce innovations, including a strategic assessment of the economic effects of introducing innovations, which determines the relevance of the study. The purpose of this article is to develop strategic tools for assessing the economic effects of introducing innovations into the investment and construction cycle. Theoretical and empirical methods, expert assessment, classification and structuring of information, reference and statistical data, a comparison method were used to analyze the existing problem. As a result of the study, the scientific and theoretical foundations of the definition of innovation and the main aspects of the functioning of the investment and construction cycle were summarized. The most significant sources of the formation of the economic effect as a result of the introduction of innovations in the investment and construction cycle are highlighted. A set of methods is proposed, the adaptation of which allows us to evaluate the economic efficiency of introducing innovations into the investment and construction cycle. An algorithm has been developed for assessing the economic effect of introducing innovations into the investment and construction cycle. The article will be useful both for the enterprises of the construction industry themselves, and for investors and other interested parties. [ABSTRACT FROM AUTHOR]