Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/227858 
Year of Publication: 
2019
Series/Report no.: 
Danmarks Nationalbank Working Papers No. 140
Publisher: 
Danmarks Nationalbank, Copenhagen
Abstract: 
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.
Subjects: 
Climate change
Fiscal policy
Monetary policy
Financial policy
Policy framework
Policy coordination
JEL: 
Q54
E52
E60
E61
E62
G10
G20
Document Type: 
Working Paper

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