{"id":5792,"date":"2022-10-17T16:05:17","date_gmt":"2022-10-17T13:05:17","guid":{"rendered":"https:\/\/www.berjournal.com\/?p=5792"},"modified":"2022-10-19T23:23:41","modified_gmt":"2022-10-19T20:23:41","slug":"monetary-policymaking-under-climate-uncertainty","status":"publish","type":"post","link":"https:\/\/www.berjournal.com\/tr\/monetary-policymaking-under-climate-uncertainty","title":{"rendered":"Monetary Policymaking under Climate Uncertainty"},"content":{"rendered":"

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Makale Bilgileri<\/td>\n<\/tr>\n
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Dergi:<\/td>\nBusiness and Economics Research Journal<\/td>\n<\/tr>\n
Makalenin Ba\u015fl\u0131\u011f\u0131:<\/td>\nMonetary Policymaking under Climate Uncertainty<\/td>\n<\/tr>\n
Yazar(lar):<\/td>\nZeynep Kantur, G\u00fclserim \u00d6zcan<\/td>\n<\/tr>\n
Cilt:<\/td>\n13<\/td>\n<\/tr>\n
Say\u0131:<\/td>\n4<\/td>\n<\/tr>\n
Y\u0131l:<\/td>\n2022<\/td>\n<\/tr>\n
Sayfa:<\/td>\n579-591<\/td>\n<\/tr>\n
ISSN:<\/td>\n2619-9491<\/td>\n<\/tr>\n
DOI Numaras\u0131:<\/td>\n10.20409\/berj.2022.390<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n
\u00d6z<\/td>\n<\/tr>\n
The most effective policy to prevent climate change is the decarbonization of the production process. Decarbonization, which should be planned and not delayed, will cause some assets to become idle or stranded, either entirely or partially. Therefore, the transition to a low-carbon economy results in sudden and unexpected fluctuations in asset prices. These shocks will affect the relevant sector and all production sectors with a domino effect and deteriorate financial stability. To the extent that these shocks are predictable, policymakers can prepare for the repercussions of green financial transformation. However, the tools needed to pre-measure them are new and dependent on many economic variables. Therefore, policymakers need a road map to act under this uncertainty. This paper theoretically provides insights into central banks\u2019 role\/engagement under climate change ambiguity. The paper shows that the less the central bank trusts its policy model, the higher the sensitivities of inflation, output-gap, and asset price-gap to climate-related shocks. Hence, an aggressive response of monetary policy is required in the face of uncertainty.<\/td>\n<\/tr>\n
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Anahtar Kelimeler:<\/td>\nClimate Change, Monetary Policy, Financial Stability, New Keynesian Model, Knightian Uncertainty, DSGE Model<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n
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JEL S\u0131n\u0131fland\u0131rmas\u0131:<\/td>\nD81, E37, E58, Q54<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
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Makale Bilgileri Dergi: Business and Economics Research Journal Makalenin Ba\u015fl\u0131\u011f\u0131: Monetary Policymaking under Climate Uncertainty Yazar(lar): Zeynep Kantur, G\u00fclserim \u00d6zcan Cilt: 13 Say\u0131: 4 Y\u0131l: 2022 Sayfa: 579-591 ISSN: 2619-9491 DOI Numaras\u0131: 10.20409\/berj.2022.390 \u00d6z The most effective policy to prevent climate change is the decarbonization of the production process. Decarbonization, which should be planned and […]<\/p>\n

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