To date, a multitude of studies have examined the empirical effect of feedback on energy consumption yet very few have examined how feedback might work and the processes it involves. Moreover, it remains to be seen if the theoretical claims made concerning how feedback works can be substantiated...

This paper focuses on the trade–offs that central banks would face if they were to start tackling climate change. Disruptive natural events can hamper growth and capital accumulation, thereby affecting price and financial stability – elements for which central banks are responsible. Yet, the...

This paper focuses on the trade–offs that central banks would face if they were to start tackling climate change. Disruptive natural events can hamper capital accumulation and growth, thereby affecting financial stability for which central banks are responsible. Yet, the array of instruments...

Proposals to include adjustments such as brown penalising and green supporting factors in the prudential regulation are meant to direct bank lending towards environmentally friendly projects. However, such adjustments can blur the lines between prudential credit risk assessment and environmental...

Stablecoin issuers can become subject to runs just like banks. This is because, in the absence of adequate regulation, issuers are incentivised to hold disproportionate amounts of high-yielding but illiquid assets in their reserve portfolios. The value of such reserve assets may be overly...