Is the green transition inflationary?

Marco Del Negro, Julian di Giovanni, Keshav Dogra

We develop a two-sector New Keynesian model to analyze the inflationary effects of climate policies. Climate policies do not force a central bank to tolerate higher inflation, but may generate a tradeoff between the central bank's objectives for inflation and real activity. The presence and size of this tradeoff depends on how flexible prices are in the "dirty" and "green" sectors relative to the rest of the economy, and on whether climate policies consist of taxes or subsidies.

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Year of publication:	[2023]
Authors:	Del Negro, Marco ; Di Giovanni, Julian ; Dogra, Keshav
Publisher:	New York, NY : Federal Reserve Bank of New York
Subject:	green transition \| inflation \| central bank's tradeoffs \| Inflation \| Geldpolitik \| Monetary policy \| Nachhaltige Entwicklung \| Sustainable development \| Zentralbank \| Central bank \| Systemtransformation \| Economic transition \| Welt \| World

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Extent:	1 Online-Ressource (circa 29 Seiten) Illustrationen
Series:	Staff reports / Federal Reserve Bank of New York. - New York, NY : [Verlag nicht ermittelbar], ZDB-ID 2189304-4. - Vol. no. 1053 (February 2023)
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	hdl:10419/272866 [Handle]
Classification:	E12 - Keynes; Keynesian; Post-Keynesian ; E31 - Price Level; Inflation; Deflation ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; Q54 - Climate; Natural Disasters
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013548986