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Climate change and implications for the conduct of monetary policy
[Changement climatique et implications pour la conduite de la politique monétaire]

Author

Listed:
  • Jean-François Ouvrard
  • Pierre-François Weber
  • Stéphane Dees

Abstract

Macroeconomic and financial market disruptions linked to climate change and transition policies could affect the conduct of monetary policy. Climate risks could impair the monetary policy transmission channel, limit the monetary policy space for conventional tools and complicate the assessment of the monetary policy stance. Les perturbations macroéconomiques et sur les marchés financiers liées au changement climatique et aux politiques de transition pourraient affecter la conduite de la politique monétaire : les risques climatiques pourraient nuire à sa transmission, limiter ses marges de manœuvre dans l’utilisation des instruments conventionnels et compliquer l’évaluation de son orientation.

Suggested Citation

  • Jean-François Ouvrard & Pierre-François Weber & Stéphane Dees, 2022. "Climate change and implications for the conduct of monetary policy [Changement climatique et implications pour la conduite de la politique monétaire]," Eco Notepad (in progress) 265, Banque de France.
    • Handle: RePEc:bfr:econot:265
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