Arbeitspapier
Toward a green economy: The role of central bank's asset purchases
We use a DSGE model to study the effectiveness of green-asset purchases by the central bank (Green QE), along the transition to a carbon-free economy driven by an emission tax, abstracting from price stability considerations. We find that Green QE helps to further reduce emissions, especially in the early stage of the transition. We find that a crucial parameter to determine the effectiveness of Green QE is the elasticity of substitution between the brown and the green good: the higher the elasticity the stronger the impact of the policy on emissions.
- ISBN
-
978-92-899-5521-8
- Sprache
-
Englisch
- Erschienen in
-
Series: ECB Working Paper ; No. 2779
- Klassifikation
-
Wirtschaft
Monetary Policy
Central Banks and Their Policies
Climate; Natural Disasters and Their Management; Global Warming
- Thema
-
Central Bank
Monetary Policy
Quantitative Easing
Climate Change
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ferrari, Alessandro
Nispi Landi, Valerio
- Ereignis
-
Veröffentlichung
- (wer)
-
European Central Bank (ECB)
- (wo)
-
Frankfurt a. M.
- (wann)
-
2023
- DOI
-
doi:10.2866/800604
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Ferrari, Alessandro
- Nispi Landi, Valerio
- European Central Bank (ECB)
Entstanden
- 2023
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