The economic prescription for climate change is clear: price carbon dioxide (CO2) and other greenhouse gas emissions to … internalize climate damages. In practice, a variety of political economy constraints prevent the introduction of a carbon price … equal to the full social cost of emissions. This paper develops insights about the design of climate policy in the face of …

Climate change has profound effects not only for societies and economies, but also for central banks’ ability to … deliver price stability in the future. This paper starts by documenting why climate change matters for monetary policy: it … survey several possible ways central banks can respond to climate change. These range from protective actions to more …