We study the implications of climate change and the associated mitigation measures for optimal monetary policy in a canonical New Keynesian model with climate externalities. Provided they are set at their socially optimal level, carbon taxes pose no trade-offs for monetary policy: it is both...

Der Green New Deal fordert eine radikale Umkehr der derzeitigen Weltwirtschaft einschliesslich der Verpflichtung zu Fairness und sozialer Gerechtigkeit. Er hat das Potenzial, eine der größt︢en globalen Kampagnen unserer Zeit zu werden - und er begann in Ann Pettifors Wohnung. Schon im Jahr...

We develop a two sector incomplete markets integrated assessment model to analyze the effectiveness of green quantitative easing (QE) in complementing fiscal policies for climate change mitigation. We model green QE through an outstanding stock of private assets held by a monetary authority and...