Society, Politicians, Climate Change and Central Banks: An Index of Green Activism

Donato Masciandaro () and Romano Tarsia

No 21167, BAFFI CAREFIN Working Papers from BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy

Abstract: This paper proposes an index for evaluating central bank activism in addressing climate-change issues. Consistent with a principal-agent approach, this metric assumes that the central bank’s sensibility on climate change depends on both economic and political drivers. The index has been created to include not only actual policies but also participation in green networks and initiatives that signal central bank activism on climate change.

Keywords: Climate change; central banking; principal-agent; political pressure; monetary policy; financial stability (search for similar items in EconPapers)
Pages: 33
Date: 2021
New Economics Papers: this item is included in nep-cba, nep-ene, nep-env, nep-mac and nep-mon
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:baf:cbafwp:cbafwp21167

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