Macro-financial implications of climate change and environmental degradation
How could climate change and environmental degradation impact macro-financial outcomes, such as growth, inflation and the functioning of the financial system? This question is increasingly important, but there is so far insufficient research to provide satisfactory answers. This special issue aims to collect cutting-edge contributions that will push the frontier of research and help inform central banks and other policy makers.
Guest editors:
Roberto Schaeffer, Federal University of Rio de Janeiro
Juan Esteban Carranza, Bank of the Republic of Columbia
Jon Frost, Bank for International Settlements, Representative Office for the Americas
Margarita Gafaro, Bank of the Republic of Columbia
Benoit Mojon, Bank for International Settlements
Special issue information:
Climate change and environmental degradation might impact growth and inflation in economies around the world. This is likely to intensify as the physical risks of climate change become more apparent. Meanwhile, the green transition is likely to bring a wave of new opportunities and challenges, including so-called transition risks. The impact of physical and transition risks on output, prices, external positions and on the financial sector is highly uncertain, but potentially far-reaching. In this context, rigorous research is needed to better understand the macro-financial implications of climate change and environmental degradation. This special issue aims to publish original contributions delving into both physical and transition risks of climate change, and broader impacts of environmental degradation on the economy and financial system. We welcome research based on a wide spectrum of approaches, including financial and macro econometrics, network models, microeconometrics and dynamic macroeconomic models. Key areas of interest include, but are not limited to:
Authors should submit their paper by April 15tt, 2025, via the Journal’s online submission site https://www2.cloud.editorialmanager.com/jfs/default2.aspx
