The Transition to a Sustainable Post-COVID Economy Requires an Urgent Shift in Central Bank Risk Management
Pierre Monnin | 10 July 2020
Blog,
Monetary | Tags:
Central Banks,
Climate risk,
Covid-19,
Financial Regulation,
Monetary Policy Operations,
Precautionary principle The COVID-19 crisis is profoundly and durably transforming our economies. So will the transition to a low-carbon economy, which is necessary to contain the environmental crisis ahead of us. Shifting our economic system from its current state to a sustainable post-COVID version entails large and
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Argentina. A Short Blanket for the Coronavirus Long Night
Agustin Redonda and
José Siaba Serrate | 3 April 2020
Blog,
Fiscal,
Monetary | Tags:
Central Banks,
Covid-19,
Fiscal Space,
Health,
Inflation,
Informality The coronavirus has arrived, and Argentina has played its cards. First life, then the economy.
While it is non-debatable that the consequences of the pandemic will be enormous throughout the world, the magnitude of the impact is still uncertain. Argentina is a special case on three
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Central Banks and Climate Change
Alexander Barkawi | 21 February 2020
Blog,
Monetary | Tags:
Central Banks,
Climate Change,
Credit Risk,
Governing Finance Central banks must supplement their risk processes to reflect climate risks. This is neither a conflict of objectives nor an overburdening of their mandate, but a fiduciary duty.
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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
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Legitimacy Challenges to Central Banks: Sketching a Way Forward
Peter Dietsch | 19 January 2020
Discussion Notes,
Monetary | Tags:
Central Banks,
Governing Finance Delegation to independent agencies (IAs) can reap real benefits for policy making. In the case of monetary policy, it shores up the credibility of the central bank. However, it is generally accepted that the discretion of IAs needs to be constrained to ensure their legitimacy.
This
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