Macroeconomic and financial policies for climate change mitigation: A review of the literature

Arbeitspapier

Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The literature provides a menu of policy tools for mitigation. A key conclusion is that fiscal tools are first in line and central, but can and may need to be complemented by financial and monetary policy instruments. Some tools and policies raise unanswered questions about policy tool assignment and mandates, which we describe. The literature is scarce, however, on the most effective policy mix and the role of mitigation tools and goals in the overall policy framework.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Danmarks Nationalbank Working Papers ; No. 140

Classification and Topics

• Classification: Wirtschaft ; Climate; Natural Disasters and Their Management; Global Warming ; Monetary Policy ; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General ; Policy Objectives; Policy Designs and Consistency; Policy Coordination ; Fiscal Policy ; General Financial Markets: General (includes Measurement and Data) ; Financial Institutions and Services: General
• Subject: Climate change ; Fiscal policy ; Monetary policy ; Financial policy ; Policy framework ; Policy coordination

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Krogstrup, Signe ; Oman, William
• Event: Veröffentlichung
• (who): Danmarks Nationalbank
• (where): Copenhagen
• (when): 2019

Further information

• Handle: http://hdl.handle.net/10419/227858
• Last update: 10.03.2025, 11:44 AM CET