Against Amnesia: Re-Imagining Central Banking
Benjamin Braun and
Leah Downey | 10 January 2020
Monetary,
Discussion Notes | Tags:
Central Banks,
Governing Finance
The purpose of the present paper is to identify and challenge contemporary adherence to the core of the prevailing monetary policy consensus. This consensus consists of what we call the holy trinity of the inflation targeting paradigm: price stability as the primary goal of the
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Climate Risk and Financial Systems of Latin America: Regulatory, Supervisory and Industry Practices in the Region and Beyond
Gianleo Frisari,
Matías Gallardo,
Chiemi Nakano,
Víctor Cárdenas and
Pierre Monnin | 18 December 2019
Monetary,
Discussion Notes | Tags:
Central Banks,
Climate Risk,
Financial Regulation,
Green Finance,
Latin America
In Latin America and the Caribbean (LAC), regional supervisors and regulators have not yet explicitly included nor addressed climate-related risks in binding regulations and/or supervisory measures for the financial sector. This implies significant work ahead for the LAC financial sector to develop effective and complete
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Climate Risks in Financial Assets
Emanuele Campiglio,
Pierre Monnin and
Adrian von Jagow | 4 November 2019
Monetary,
Discussion Notes | Tags:
Asset Prices,
Climate Risk,
Climate Stress Tests
This note reviews the empirical evidence available in the academic literature about the impact of climate-related risks on financial assets. It addresses three main questions: does climate change already affect financial asset returns? What is the potential impact of future climate-related costs on financial asset
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Distributional Impact of Unconventional Monetary Policies
Pierre Monnin | 25 June 2019
Monetary,
Discussion Notes | Tags:
Income Inequality,
QE
The sustained application of accommodative monetary policies has led to concerns that they were aggravating inequality. The criticism has come from several quarters, from academics to private sector participants, from politicians to media and civil society organizations. Some argued that by boosting housing and stock
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Changing Landscapes for Central Banks and Financial Regulators
William White | 14 March 2019
Monetary,
Discussion Notes | Tags:
Central Banks,
Governing Finance
This discussion note is an extended version of the introductory comments shared by the author at a CEP roundtable on “Governing Finance and Sustainability” in January 2019. It addresses in order the four issues raised in the convening’s agenda. First, what are the historical origins
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