Society, Politicians, Climate Change and Central Banks: An Index of Green Activism
Donato Masciandaro () and
Romano Vincenzo 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
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 bankâ€™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)
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Persistent link: https://EconPapers.repec.org/RePEc:baf:cbafwp:cbafwp21167
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