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Geldpolitik und Klimawandel
[Monetary Policy and Climate Change]

Author

Listed:
  • Matthias Kaldorf

    (Universität zu Köln)

  • Michael Krause

    (Universität zu Köln)

  • Lucas Radke

    (Universität zu Köln)

  • Florian Wicknig

    (Deutsche Bundesbank)

Abstract

Zusammenfassung Der Klimawandel wird einen tiefgreifenden Einfluss sowohl auf die europäische als auch die globale Wirtschaft haben. Bei der Frage nach dem Handlungsbedarf für Zentralbanken wie die EZB ist unstrittig, dass Zentralbanken notwendige Schritte zu Sicherstellung von Preis- und Finanzstabilität im Rahmen ihres Mandats unternehmen müssen, die sich aus dem Klimawandel ergeben. Einige Beobachtende fordern aber weitreichendere Maßnahmen, die ebenso den Übergang zu einer emissionsarmen Wirtschaft auf finanzieller Ebene stützen. Selbst wenn man die Debatte um das Primärmandat einer Zentralbank ausblendet, zeigt die bisherige akademische Forschung, dass der Einsatz geldpolitischer Instrumente, um den Klimawandel zu beeinflussen, teils erhebliche unerwünschte Nebenwirkungen zur Folge haben kann und dabei verglichen mit fiskalischen Maßnahmen deutlich weniger wirksam ist.

Suggested Citation

  • Matthias Kaldorf & Michael Krause & Lucas Radke & Florian Wicknig, 2022. "Geldpolitik und Klimawandel [Monetary Policy and Climate Change]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 102(7), pages 545-551, July.
    • Handle: RePEc:spr:wirtsc:v:102:y:2022:i:7:d:10.1007_s10273-022-3229-x
    DOI: 10.1007/s10273-022-3229-x
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    References listed on IDEAS

    as
    1. Richard S. J. Tol, 2009. "The Economic Effects of Climate Change," Journal of Economic Perspectives, American Economic Association, vol. 23(2), pages 29-51, Spring.
    2. Richard Abel Musgrave, 1939. "The Voluntary Exchange Theory of Public Economy," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 53(2), pages 213-237.
    3. Donadelli, M. & Jüppner, M. & Riedel, M. & Schlag, C., 2017. "Temperature shocks and welfare costs," Journal of Economic Dynamics and Control, Elsevier, vol. 82(C), pages 331-355.
    4. Miles Parker, 2018. "The Impact of Disasters on Inflation," Economics of Disasters and Climate Change, Springer, vol. 2(1), pages 21-48, April.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    E31; E58; G18; Q54; Q58;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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