Financial Stability Is Easier to Green Than Monetary Policy
Abstract In the face of mounting evidence of global warming, which is an irreversible process, central banks, as other policymakers, have to play their part. They need to consider climate risks not only in their internal management, but also when they devise their strategies, conduct their policies...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Springer
2021-06-01
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| Series: | Intereconomics |
| Online Access: | https://doi.org/10.1007/s10272-021-0972-y |
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| _version_ | 1841525565046128640 |
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| author | Christian Pfister Natacha Valla |
| author_facet | Christian Pfister Natacha Valla |
| author_sort | Christian Pfister |
| collection | DOAJ |
| description | Abstract In the face of mounting evidence of global warming, which is an irreversible process, central banks, as other policymakers, have to play their part. They need to consider climate risks not only in their internal management, but also when they devise their strategies, conduct their policies and implement their decisions. This article examines the possible impacts of climate risks on the two main variables of interest for monetary policy, economic growth and inflationary pressures. On that basis, it infers the potential consequences for the objective of monetary policy, its conduct and its implementation. |
| format | Article |
| id | doaj-art-a8c882dd51614b9abb07eacdc17b07bf |
| institution | Kabale University |
| issn | 0020-5346 1613-964X |
| language | English |
| publishDate | 2021-06-01 |
| publisher | Springer |
| record_format | Article |
| series | Intereconomics |
| spelling | doaj-art-a8c882dd51614b9abb07eacdc17b07bf2025-01-17T08:34:14ZengSpringerIntereconomics0020-53461613-964X2021-06-0156315415910.1007/s10272-021-0972-yFinancial Stability Is Easier to Green Than Monetary PolicyChristian Pfister0Natacha Valla1DG Financial Stability and Operations, Banque de FranceSchool of Management and Innovation, Sciences PoAbstract In the face of mounting evidence of global warming, which is an irreversible process, central banks, as other policymakers, have to play their part. They need to consider climate risks not only in their internal management, but also when they devise their strategies, conduct their policies and implement their decisions. This article examines the possible impacts of climate risks on the two main variables of interest for monetary policy, economic growth and inflationary pressures. On that basis, it infers the potential consequences for the objective of monetary policy, its conduct and its implementation.https://doi.org/10.1007/s10272-021-0972-y |
| spellingShingle | Christian Pfister Natacha Valla Financial Stability Is Easier to Green Than Monetary Policy Intereconomics |
| title | Financial Stability Is Easier to Green Than Monetary Policy |
| title_full | Financial Stability Is Easier to Green Than Monetary Policy |
| title_fullStr | Financial Stability Is Easier to Green Than Monetary Policy |
| title_full_unstemmed | Financial Stability Is Easier to Green Than Monetary Policy |
| title_short | Financial Stability Is Easier to Green Than Monetary Policy |
| title_sort | financial stability is easier to green than monetary policy |
| url | https://doi.org/10.1007/s10272-021-0972-y |
| work_keys_str_mv | AT christianpfister financialstabilityiseasiertogreenthanmonetarypolicy AT natachavalla financialstabilityiseasiertogreenthanmonetarypolicy |