GHG Emissions Control and Monetary Policy

Barbara Annicchiarico () and Fabio Di Dio ()

Environmental & Resource Economics, 2017, vol. 67, issue 4, No 8, 823-851

Abstract: Abstract This paper examines the optimal environmental and monetary policy mix in a New Keynesian model embodying pollutant emissions, abatement technology and environmental damage. The optimal response of the economy to productivity shocks is shown to depend crucially on the instruments policy makers have available, the intensity of the distortions they have to address (i.e. imperfect competition, costly price adjustment and negative environmental externality) and the way they interact.

Keywords: GHG emissions control policy; Monetary policy; Ramsey problem (search for similar items in EconPapers)
JEL-codes: E32 E52 Q58 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (65)

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DOI: 10.1007/s10640-016-0007-5

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