External

Taxation in Aging Societies – Increasing the Effectiveness and Fairness of Pension Systems

, , , and | 28 March 2019
External, Fiscal | Tags: Inequality, Pensions, Tax Expenditures
Population aging is accelerating worldwide and has significant socio-economic implications, including a decline in the size of the labour force, an increase in the age-dependency ratio and a redistribution of income and wealth. Hence, the redesign of pension systems has become a priority. Taxation is ... continue reading

Central Banks Should Reflect Climate Risks in Monetary Policy Operations

| 10 September 2018
External, Monetary | Tags: Asset purchases, Central Banks, Climate risk, Collateral framework
The transition to a low-carbon economy requires a shift in capital allocation from incumbent carbon-intensive technologies to new low-carbon technologies. Financial markets play a key role in this process: they influence firms’ investment costs and serve as reference point in investors’ decisions. Currently, there ... continue reading

Climate Change and Finance: What Role for Central Banks and Financial Regulators?

, , , , and | 7 September 2018
External, Monetary | Tags: Central Banks, Climate Change, Environment, Financial Regulation
Climate change poses risks to the financial system. Yet our understanding of these risks is still limited. As we explain in a recent paper published in Nature Climate Change, central banks and financial regulators could contribute to the development of methodologies and modelling tools for ... continue reading

Mend It, Don´t End It: The case for upgrading the G20’s pledge on protectionism

, , , , , , , , , , , , , and | 3 September 2018
External, Trade | Tags: Protectionism, Services Trade
Despite neutering the official monitoring of protectionism, unmistakable evidence assembled from state sources demonstrates that G20 members routinely violate their “no protectionism” pledge. ... continue reading

Mitigating the Adjustment Costs of International Trade

, , , , , , and | 3 September 2018
External, Trade | Tags: Employment
The evidence demonstrating that nations gain from trade is overwhelming. However, trade liberalization can cause disruption to firms and workers, and its gains and losses are spread unevenly. ... continue reading