Conclusions

.

Chapter 8 in (Mis)managing Macroprudential Expectations, 2023, pp 145-153 from Edward Elgar Publishing

Abstract: This chapter provides an overview of the analysis developed throughout the book. It contends that the Bank of England employs tail risk calculations to shape the expectations that regulated banks have around the central bank’s new macroprudential approach. The chapter highlights the practical and political limitations of this approach. It then reiterates the argument that recent efforts to capture climate tail risks are attempts to shape expectations around potential losses relating to the pace of transitions to a sustainable economy. The chapter argues that the identification of physical tail risks reveals opportunities for private profit within the financial system and provides a critical discussion of the role that the shadow banking system is likely to play in managing climate transition risk. It brings the book to a close by reflecting on questions of climate justice raised by the geographic distribution of climate risks.

Keywords: Economics and Finance; Environment; Geography; Politics and Public Policy Sociology and Social Policy; Sustainable Development Goals (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/doi/10.4337/9781800887596.00016 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:20770_8

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().