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Climate change and monetary policy: Dealing with disruption


  • Warwick McKibbin
  • Adele Morris
  • Augustus J. Panton
  • Peter J. Wilcoxen


This paper explores the interaction of monetary policy and climate change as they jointly influence macroeconomic outcomes. In bringing together the literatures on climate change and monetary policy, we seek to alert policymakers in each realm to the implications of the other.

Suggested Citation

  • Warwick McKibbin & Adele Morris & Augustus J. Panton & Peter J. Wilcoxen, 2017. "Climate change and monetary policy: Dealing with disruption," CAMA Working Papers 2017-77, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  • Handle: RePEc:een:camaaa:2017-77

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    Cited by:

    1. Chan, Ying Tung, 2020. "Are macroeconomic policies better in curbing air pollution than environmental policies? A DSGE approach with carbon-dependent fiscal and monetary policies," Energy Policy, Elsevier, vol. 141(C).
    2. Augustus J. Panton, 2020. "Climate hysteresis and monetary policy," CAMA Working Papers 2020-76, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    3. Channing Arndt & Chris Loewald & Konstantin Makrelov, 2020. "Wp 2004," Working Papers 10001, South African Reserve Bank.
    4. Stefan Mittnik & Willi Semmler & Alexander Haider, 2020. "Climate Disaster Risks—Empirics and a Multi-Phase Dynamic Model," Econometrics, MDPI, Open Access Journal, vol. 8(3), pages 1-27, August.
    5. Lane, Philip R., 2019. "Climate Change and the Irish Financial System," Economic Letters 1/EL/19, Central Bank of Ireland.
    6. Andreas Breitenfellner & Wolfgang Pointner & Helene Schuberth, 2019. "The Potential Contribution of Central Banks to Green Finance," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 88(2), pages 55-71.
    7. Simon Dikau & Ulrich Volz, 2019. "Central Bank Mandates, Sustainability Objectives and the Promotion of Green Finance," Working Papers 222, Department of Economics, SOAS, University of London, UK.
    8. Feyen,Erik H.B. & Utz,Robert Johann & Zuccardi Huertas,Igor Esteban & Bogdan,Olena & Moon,Jisung, 2020. "Macro-Financial Aspects of Climate Change," Policy Research Working Paper Series 9109, The World Bank.
    9. Andersson, Malin & Baccianti, Claudio & Morgan, Julian, 2020. "Climate change and the macro economy," Occasional Paper Series 243, European Central Bank.
    10. Simon Dikau & Nick Robins & Matthias Täger, 2019. "Building a sustainable financial system: the state of practice and future priorities," Revista de Estabilidad Financiera, Banco de España;Revista de Estabilidad Financiera Homepage, issue Autumn.
    11. Claudia Kemfert & Dorothea Schäfer & Willi Semmler, 2020. "Great Green Transition and Finance," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 55(3), pages 181-186, May.
    12. Chen, Chuanqi & Pan, Dongyang, 2020. "The Optimal Mix of Monetary and Climate Policy," MPRA Paper 97718, University Library of Munich, Germany.

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