“If Something Cannot Go on Forever, It Will Stop“
William White | 1 April 2021
Fiscal,
Monetary,
Policy Briefs | Tags:
Covid-19,
Debt,
Democracy,
Environment,
Financial Stability,
Health Systems,
Inequality,
International Cooperation,
Resilience “If something cannot go on forever, it will stop.” This famous observation was made by Herb Stein, Senior Fellow at the American Enterprise Institute. It became famous largely because it was just that, obvious. Yet, what is no less obvious is that public policy is
... continue reading
Trade in Environmental Services: The Quiet Revolution
Hildegunn Kyvik Nordås and
Ronald Steenblik | 29 March 2021
Blog,
Trade | Tags:
Environment,
Services Trade,
Sustainable Development A significant number of WTO members have taken steps to revive the discussions on the role that traded environmental goods and services could play in a green recovery. This is encouraging. While technology offers significant opportunities for a green recovery, more needs to be done
... continue reading
Green Money Without Inflation
Paul De Grauwe | 7 March 2019
Blog,
Monetary | Tags:
Environment,
European Central Bank,
Inflation,
Quantitative Easing To what extent can the money created by the central bank be used to finance investments in the environment? This is a question that is often asked today. The green activists respond with enthusiasm that the central bank, and in particular the European Central Bank
... continue reading
Prudential Regulation Can Help in Tackling Climate Change
Paola D'Orazio,
Lilit Popoyan and
Pierre Monnin | 13 February 2019
Blog,
Monetary | Tags:
Environment,
Financial Regulation Awareness of climate-related financial risks has been growing in the past years. Prudential frameworks however still fall short in reflecting them. Given the possible impacts of climate risks on financial stability, incorporating them into prudential regulation is rapidly moving up agendas both among academics and
... continue reading
Climate Change and Finance: What Role for Central Banks and Financial Regulators?
Emanuele Campiglio,
Yannis Dafermos,
Pierre Monnin,
Josh Ryan-Collins,
Guido Schotten and
Misa Tanaka | 7 September 2018
Blog,
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