Policy Briefs

Shifting Gears: Integrating Climate Risks in Monetary Policy Operations

| 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

, , , and | 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

| 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

| 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

, , , , , , , , , , , , , and | 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