Les conséquences du changement climatique pour la politique monétaire

Stephane Dees and Pierre-François Weber

Revue d'économie financière, 2020, vol. N° 138, issue 2, 243-257

Abstract: Climate change is one of the major challenges central banks are facing, potentially affecting the macroeconomic variables used to underpin their monetary decisions and the channels through which these decisions are transmitted to the real economy. Climate change could affect the policy space central banks have to fulfil their mandate and, owing to increased uncertainty, it could also lead them to consider some of the trade-offs to be faced in a monetary inflation targeting regime. As a result, central banks should not only integrate the effects of climate change into their analyses and models, but also take climate-related risks into account in the development of the instruments used to implement monetary policy. Classification JEL : E52, E58, Q54, Q58.

JEL-codes: E52 E58 Q54 Q58 (search for similar items in EconPapers)
Date: 2020
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Working Paper: Les conséquences du changement climatique pour la politique monétaire (2020)
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