Japan Shifts to a New Fiscal Anchor
Matthew Poggi | 15 April 2026
Fiscal,
Blog | Tags:
Debt,
Fiscal Rules,
Japan
Japan is redefining the framework that anchors its public finances. Following the belated approval of the 2026 financial year budget, attention will turn to the Sanae Takaichi administration’s shift from a single-year primary balance target towards a medium-term approach centred on stabilising the debt-to-gross domestic product ratio.
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How Can Ministries of Finance Support the Low-Carbon Transition Through Coherent ‘Policy Packages’?
Patrick Lenain | 13 April 2026
Fiscal,
Monetary,
Blog | Tags:
Carbon Pricing,
Energy,
Industrial Policy,
Policy Coherence,
Tax Expenditures
The transition towards greener and more resilient economies is one of the defining economic opportunities of our time. From growth and innovation to enhanced competitiveness and long-term savings, the potential gains are substantial.
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Insurance Protection for Climate-Resilient Progress
Patrick Lenain | 27 March 2026
Fiscal,
Monetary,
Op-Eds | Tags:
Climate Risks,
Insurance,
Vietnam
This op-ed was first published in the Vietnam Investment Review. The World Bank has estimated that about $300 billion of the country’s commercial and industrial assets are vulnerable to climate-related disasters. Patrick Lenain, senior associate at the Council on Economic Policies, looks at the gaps
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Fortifying the Role of Finance After Indonesia’s Floods
Muhammad Qaisar and
Togi Prakoso | 14 March 2026
Monetary,
Op-Eds | Tags:
Climate Risks,
Financial Stability,
Governing Finance,
Indonesia,
Macroprudential Policy
The floods are a stark reminder that finance is never neutral. When well governed, it can absorb shocks, speed reconstruction and strengthen resilience. When misaligned, it can amplify fragilities and lock in future risks.
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Upgrading Housing: the Potential and Limits of Borrower-Based Measures
Pierre Monnin,
Ádám Banai,
Kristīna Bojāre,
Ján Klacso,
Reiner Martin and
János Szakács | 3 March 2026
Monetary,
Discussion Notes | Tags:
Credit Risk,
Energy,
Financial Stability,
Housing,
Macroprudential Policy
This paper explores how borrower-based measures (BBMs) can be adjusted to provide additional funding for housing-related energy-efficiency investments without compromising financial stability objectives.
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Governing Tax Expenditures: Lessons from Four Advanced and Emerging Market Economies
Sofia Berg,
Sanjeev Gupta and
Agustin Redonda | 2 March 2026
Fiscal,
Blog | Tags:
Brazil,
Domestic Revenue Mobilization,
France,
India,
Tax Expenditures,
United Kingdom
This blog builds on four Tax Expenditures Country Reports published within the series hosted by CEP and IDOS, and shows how Brazil, France, India, and the United Kingdom govern tax expenditures across three critical dimensions: benchmark definition, reporting, and evaluation.
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The Macroprudential Response to Climate Systemic Risk: Four Essential Pillars
Laura Bartolomeu,
Wildmer Gregori,
Pierre Monnin and
Fátima Silva | 26 February 2026
Monetary,
Policy Briefs | Tags:
Climate Risks,
Financial Stability,
Macroprudential Policy,
Portugal,
Systemic Risks
While existing macroprudential policy toolkits can already be deployed to address climate-related systemic risk, their implementation shall account for the data available to assess climate-related risks, the state of knowledge about them, and the institutional frameworks in which macroprudential instruments operate.
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How Ministries of Finance can Support Coherent Climate Policy Packages
Council on Economic Policies | 26 February 2026
Fiscal,
Discussion Notes | Tags:
Carbon Pricing,
Decarbonization,
Energy,
Industrial Policy,
Innovation,
Policy Coherence,
Tax Expenditures
The success of the low-carbon transition will depend less on isolated climate measures than on the ability of governments to design and sustain coherent policy packages that align fiscal, energy, and industrial objectives.
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Confronting Climate Change in the Philippines: Building Resilience while Cutting Emissions
Patrick Lenain | 13 February 2026
Fiscal,
Blog | Tags:
Carbon Pricing,
Climate Risks,
Energy,
Renewables,
The Philippines
Climate change is not a distant threat for the Philippines. Preparing for a warmer and more volatile future will require building on past progress in investing into climate change adaptation, combined with carbon pricing and cleaner power generation.
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Scale and Oversight of Tax Expenditures in Ireland
Flurim Aliu and
Christian von Haldenwang | 10 February 2026
Fiscal,
Testimonies | Tags:
Ireland,
Parliaments,
Tax Expenditures
Tax expenditures are introduced to promote investment, employment, welfare policy objectives, or environmental goals, among others. Yet systematic evaluations remain rare ...
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