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| DOI | 10.1007/s40822-024-00266-y |
| Greener and cheaper: green monetary policy in the era of inflation and high interest rates | |
| 发表日期 | 2024 |
| ISSN | 1309-422X |
| EISSN | 2147-429X |
| 起始页码 | 14 |
| 结束页码 | 1 |
| 卷号 | 14期号:1 |
| 英文摘要 | In recent years central bankers have devoted increased attention to the question of whether and how to intervene to address the growing environmental and climate crisis. The climate intervention debate gained momentum during a period of low inflation and loose monetary policy in core economies - a time characterised by near zero interest rates and large asset purchase programmes. Since 2021, however, the macroeconomic context has changed. Against this background, the paper analyses the contradictory and problematic nature of the direction monetary policy has taken in reaction to higher inflation. It argues that higher interest rates delay the green transformation by raising the cost of sustainable investments, and that the resulting delay also hampers prospects for achieving price stability. The paper concludes that the present macroeconomic environment demands a 'greener and cheaper' monetary policy approach designed to address the environmental and climate crisis and also to simultaneously fight inflation. |
| 英文关键词 | Green monetary policy; Central banking; Inflation; Price stability; Interest rates; Environmental and climate risks; E50; E52; Q58 |
| 语种 | 英语 |
| WOS研究方向 | Business & Economics |
| WOS类目 | Economics |
| WOS记录号 | WOS:001186164000001 |
| 来源期刊 | EURASIAN ECONOMIC REVIEW
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/292371 |
| 作者单位 | Witten Herdecke University |
| 推荐引用方式 GB/T 7714 | . Greener and cheaper: green monetary policy in the era of inflation and high interest rates[J],2024,14(1). |
| APA | (2024).Greener and cheaper: green monetary policy in the era of inflation and high interest rates.EURASIAN ECONOMIC REVIEW,14(1). |
| MLA | "Greener and cheaper: green monetary policy in the era of inflation and high interest rates".EURASIAN ECONOMIC REVIEW 14.1(2024). |
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