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We study monetary policy under climate change in order to answer the question of whether monetary policy should take into account the expected impacts of climate change. The setup is a new Keynesian dynamic stochastic general equilibrium model of a closed economy in which a climate module that...
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cost estimations for each pair of EU region. This approach allows us to estimate different valuations of climate amenities … summer season (i.e. southern EU) is likely to yield significant welfare losses. As a result European tourists are more likely …
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