Shifting Gears: Integrating Climate Risks in Monetary Policy Operations
Pierre Monnin | 20 January 2020
Monetary,
Policy Briefs | Tags:
Asset purchases,
Central Banks,
Climate risk,
Collateral framework,
Credit risk The assets central banks purchase and accept as collateral are at the core of monetary policy implementation. Risk considerations play a crucial role in the selection of these assets: central banks seek to limit their holdings and eligible collateral to assets that minimize their risk
... continue reading
Taxation in Aging Societies – Increasing the Effectiveness and Fairness of Pension Systems
Agustin Redonda,
Vincenzo Galasso,
Mark Mazur,
Miranda Stewart and
Matthew Whittaker | 28 March 2019
Fiscal,
Policy Briefs | 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
Investor-State Dispute Settlement: An Anachronism Whose Time Has Gone
Johannes Schwarzer | 24 September 2018
Policy Briefs,
Trade | Tags:
Investment,
ISDS,
Services Trade Investor-State Dispute Settlement (ISDS) – a mechanism that allows foreign investors to bring claims against host governments to an international arbitral tribunal – is a postcolonial relic that should be abolished.
... continue reading
Central Banks Should Reflect Climate Risks in Monetary Policy Operations
Pierre Monnin | 10 September 2018
Monetary,
Policy Briefs | 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
Mend It, Don´t End It: The case for upgrading the G20’s pledge on protectionism
Johannes Schwarzer,
Simon Evenett,
Sait Akman,
Axel Berger,
Eduardo Bianchi,
Carlos Primo Braga,
Marcela Cristini,
Kamala Dawar,
Matthias Helble,
Galina Kolev,
Jürgen Matthes,
Maximiliano Mendez-Parra,
Claudia Schmucker,
Akihiko Tamura and
Tu Xinquan | 3 September 2018
Policy Briefs,
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