Will the green transition be inflationary? Expectations matter
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Alessandro Ferrari & Valerio Nispi Landi, 2022. "Will the green transition be inflationary? Expectations matter," Questioni di Economia e Finanza (Occasional Papers) 686, Bank of Italy, Economic Research and International Relations Area.
References listed on IDEAS
- Lemoine, Matthieu & Lindé, Jesper, 2016.
"Fiscal consolidation under imperfect credibility,"
European Economic Review, Elsevier, vol. 88(C), pages 108-141.
- M. Lemoine & J. Lindé, 2016. "Fiscal Consolidation Under Imperfect Credibility," Working papers 595, Banque de France.
- Lemoine, Matthieu & Lindé, Jesper, 2016. "Fiscal Consolidation Under Imperfect Credibility," Working Paper Series 322, Sveriges Riksbank (Central Bank of Sweden).
- Linde, Jesper & Lemoine, Matthieu, 2016. "Fiscal Consolidation Under Imperfect Credibility," CEPR Discussion Papers 11404, C.E.P.R. Discussion Papers.
- Ferrari Minesso, Massimo & Pagliari, Maria Sole, 2023.
"No country is an island. International cooperation and climate change,"
Journal of International Economics, Elsevier, vol. 145(C).
- Ferrari Massimo, & Pagliari Maria Sole,, 2021. "No country is an island. International cooperation and climate change," Working papers 815, Banque de France.
- Pagliari, Maria Sole & Ferrari Minesso, Massimo, 2021. "No country is an island: international cooperation and climate change," Working Paper Series 2568, European Central Bank.
- Richhild Moessner, 2022. "Effects of Carbon Pricing on Inflation," CESifo Working Paper Series 9563, CESifo.
- Gibson, John & Heutel, Garth, 2023.
"Pollution and labor market search externalities over the business cycle,"
Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
- John Gibson & Garth Heutel, 2020. "Pollution and Labor Market Search Externalities Over the Business Cycle," NBER Working Papers 27445, National Bureau of Economic Research, Inc.
- N. Gregory Mankiw & Ricardo Reis, 2002.
"Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(4), pages 1295-1328.
- N. Gregory Mankiw & Ricardo Reis, 2001. "Sticky information versus sticky prices: a proposal to replace the New-Keynesian Phillips curve," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
- N. Gregory Mankiw & Ricardo Reis, 2001. "Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," NBER Working Papers 8290, National Bureau of Economic Research, Inc.
- N. Gregory Mankiw & Ricardo Reis, 2001. "Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," Harvard Institute of Economic Research Working Papers 1922, Harvard - Institute of Economic Research.
- Mankiw, N. Gregory & Reis, Ricardo, 2002. "Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," Scholarly Articles 3415324, Harvard University Department of Economics.
- Diluiso, Francesca & Annicchiarico, Barbara & Kalkuhl, Matthias & Minx, Jan C., 2021. "Climate actions and macro-financial stability: The role of central banks," Journal of Environmental Economics and Management, Elsevier, vol. 110(C).
- Stefano Carattini & Garth Heutel & Givi Melkadze, 2023.
"Climate Policy, Financial Frictions, and Transition Risk,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 778-794, December.
- Stefano Carattini & Garth Heutel & Givi Melkadze, 2021. "Climate Policy, Financial Frictions, and Transition Risk," NBER Working Papers 28525, National Bureau of Economic Research, Inc.
- Coenen, Günter & Karadi, Peter & Schmidt, Sebastian & Warne, Anders, 2018. "The New Area-Wide Model II: an extended version of the ECB’s micro-founded model for forecasting and policy analysis with a financial sector," Working Paper Series 2200, European Central Bank.
- Benigno, Pierpaolo, 2015.
"New-Keynesian economics: An AS–AD view,"
Research in Economics, Elsevier, vol. 69(4), pages 503-524.
- Pierpaolo Benigno, 2009. "New-Keynesian Economics: An AS-AD View," NBER Working Papers 14824, National Bureau of Economic Research, Inc.
- Ciccarelli, Matteo & Marotta, Fulvia, 2021. "Demand or supply? An empirical exploration of the effects of climate change on the macroeconomy," Working Paper Series 2608, European Central Bank.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Colciago, Andrea & Priftis, Romanos & Chafwehé, Boris, 2024.
"Reallocation, productivity, and monetary policy in an energy crisis,"
Working Paper Series
2961, European Central Bank.
- Chafwehé, Boris & Colciago, Andrea & Priftis, Romanos, 2024. "Reallocation, productivity, and monetary policy in an energy crisis," Bank of England working papers 1091, Bank of England.
- Boris Chafwehe' & Andrea Colciago & Romanos Priftis, 2024. "Reallocation, Productivity, and Monetary Policy in an Energy Crisis," Working Papers 534, University of Milano-Bicocca, Department of Economics.
- Boris Chafwehe & Andrea Colciago & Romanos Priftis, 2024. "Reallocation, Productivity, and Monetary Policy in an Energy Crisis," Working Papers 811, DNB.
- Coenen, Günter & Lozej, Matija & Priftis, Romanos, 2024.
"Macroeconomic effects of carbon transition policies: An assessment based on the ECB’s New Area-Wide Model with a disaggregated energy sector,"
European Economic Review, Elsevier, vol. 167(C).
- Coenen, Günter & Lozej, Matija & Priftis, Romanos, 2023. "Macroeconomic effects of carbon transition policies: an assessment based on the ECB’s New Area-Wide Model with a disaggregated energy sector," Working Paper Series 2819, European Central Bank.
- Coenen, Günter & Lozej, Matija & Priftis, Romanos, 2023. "Macroeconomic Effects of Carbon Transition Policies: An Assessment Based on the ECB’s New Area-Wide Model with a Disaggregated Energy Sector," Research Technical Papers 8/RT/23, Central Bank of Ireland.
- Alessandro Moro & Valerio Nispi Landi, 2024. "Carbon taxes around the world: cooperation, strategic interactions, and spillovers," Temi di discussione (Economic working papers) 1445, Bank of Italy, Economic Research and International Relations Area.
- Bartocci, Anna & Notarpietro, Alessandro & Pisani, Massimiliano, 2024.
"“Green” fiscal policy measures and nonstandard monetary policy in the euro area,"
Economic Modelling, Elsevier, vol. 136(C).
- Anna Bartocci & Alessandro Notarpietro & Massimiliano Pisani, 2022. ""Green" fiscal policy measures and non-standard monetary policy in the euro area," Temi di discussione (Economic working papers) 1377, Bank of Italy, Economic Research and International Relations Area.
- Frankovic, Ivan & Kolb, Benedikt, 2024.
"The role of emission disclosure for the low-carbon transition,"
European Economic Review, Elsevier, vol. 167(C).
- Frankovic, Ivan & Kolb, Benedikt, 2023. "The role of emission disclosure for the low-carbon transition," Discussion Papers 33/2023, Deutsche Bundesbank.
- Matsumura, Kohei & Naka, Tomomi & Sudo, Nao, 2024. "Analysis of the transmission of carbon taxes using a multi-sector DSGE," Energy Economics, Elsevier, vol. 136(C).
- Yoshihiko Hogen & Yojiro Ito & Kenji Kanai & Naoya Kishi, 2024. "Changes in the Global Economic Landscape and Issues for Japan's Economy," Bank of Japan Working Paper Series 24-E-3, Bank of Japan.
- Le, Anh H., 2023. "Climate change and carbon policy: A story of optimal green macroprudential and capital flow management," IMFS Working Paper Series 191, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Dück, Alexander & Le, Anh H., 2023. "Transition risk uncertainty and robust optimal monetary policy," IMFS Working Paper Series 187, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Angelico, Cristina, 2024. "The green transition and firms' expectations on future prices: Survey evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 221(C), pages 519-543.
- Ciccarelli, Matteo & Marotta, Fulvia, 2024. "Demand or Supply? An empirical exploration of the effects of climate change on the macroeconomy," Energy Economics, Elsevier, vol. 129(C).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Ferrari, Alessandro & Nispi Landi, Valerio, 2024.
"Whatever it takes to save the planet? Central banks and unconventional green policy,"
Macroeconomic Dynamics, Cambridge University Press, vol. 28(2), pages 299-324, March.
- Ferrari, Alessandro & Landi, Valerio Nispi, 2020. "Whatever it takes to save the planet? Central banks and unconventional green policy," Working Paper Series 2500, European Central Bank.
- Alessandro Ferrari & Valerio Nispi Landi, 2021. "Whatever it takes to save the planet? Central banks and unconventional green policy," Temi di discussione (Economic working papers) 1320, Bank of Italy, Economic Research and International Relations Area.
- Giovanardi, Francesco & Kaldorf, Matthias, 2024. "Climate change and the macroeconomics of bank capital regulation," Discussion Papers 13/2024, Deutsche Bundesbank.
- Alessandro Ferrari & Valerio Nispi Landi, 2023.
"Toward a Green Economy: The Role of the Central Bank’s Asset Purchases,"
International Journal of Central Banking, International Journal of Central Banking, vol. 19(5), pages 287-340, December.
- Alessandro Ferrari & Valerio Nispi Landi, 2022. "Toward a green economy: the role of central bank's asset purchases," Temi di discussione (Economic working papers) 1358, Bank of Italy, Economic Research and International Relations Area.
- Ferrari, Alessandro & Landi, Valerio Nispi, 2023. "Toward a green economy: the role of central bank’s asset purchases," Working Paper Series 2779, European Central Bank.
- Patrick Gruning, 2022. "Fiscal, Environmental, and Bank Regulation Policies in a Small Open Economy for the Green Transition," Working Papers 2022/06, Latvijas Banka.
- Eric Jondeau & Grégory Levieuge & Jean-Guillaume Sahuc & Gauthier Vermandel, 2022.
"Environmental Subsidies to Mitigate Transition risk,"
Working Papers
hal-04159804, HAL.
- Eric Jondeau & Gregory Levieuge & Jean-Guillaume Sahuc & Gauthier Vermandel, 2022. "Environmental Subsidies to Mitigate Transition Risk," Swiss Finance Institute Research Paper Series 22-45, Swiss Finance Institute.
- Eric Jondeau & Grégory Levieuge & Jean-Guillaume Sahuc & Gauthier Vermandel, 2022. "Environmental Subsidies to Mitigate Transition risk," EconomiX Working Papers 2022-21, University of Paris Nanterre, EconomiX.
- Bartocci, Anna & Notarpietro, Alessandro & Pisani, Massimiliano, 2024.
"“Green” fiscal policy measures and nonstandard monetary policy in the euro area,"
Economic Modelling, Elsevier, vol. 136(C).
- Anna Bartocci & Alessandro Notarpietro & Massimiliano Pisani, 2022. ""Green" fiscal policy measures and non-standard monetary policy in the euro area," Temi di discussione (Economic working papers) 1377, Bank of Italy, Economic Research and International Relations Area.
- Le, Anh H. & Uddin, Gazi Salah & Lucey, Brian, 2024. "Green targeted lending operations in the Euro Area," Economics Letters, Elsevier, vol. 243(C).
- Dubois, Loick & Sahuc, Jean-Guillaume & Vermandel, Gauthier, 2025.
"A general equilibrium approach to carbon permit banking,"
Journal of Environmental Economics and Management, Elsevier, vol. 129(C).
- : Dubois, Loick & Sahuc, Jean-Guillaume & Vermandel, Gauthier, 2024. "A General Equilibrium Approach to Carbon Permit Banking," Single Market Economics Papers WP2024/20, Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (European Commission), Chief Economist Team.
- Jean-Guillaume Sahuc & Loick Dubois & Gauthier Vermandel, 2025. "A General Equilibrium Approach to Carbon Permit Banking," EconomiX Working Papers 2025-5, University of Paris Nanterre, EconomiX.
- Carattini, Stefano & Kim, Giseong & Melkadze, Givi & Pommeret, Aude, 2024. "Carbon taxes and tariffs, financial frictions, and international spillovers," European Economic Review, Elsevier, vol. 170(C).
- Stefano Carattini & Giseong Kim & Givi Melkadze & Aude Pommeret, 2023. "Carbon Taxes and Tariffs, Financial Frictions, and International Spillovers," CESifo Working Paper Series 10851, CESifo.
- Müller, Tobias & Christoffel, Kai & Mazelis, Falk & Montes-Galdón, Carlos, 2022.
"Disciplining expectations and the forward guidance puzzle,"
Journal of Economic Dynamics and Control, Elsevier, vol. 137(C).
- Christoffel, Kai & Mazelis, Falk & Montes-Galdón, Carlos & Müller, Tobias, 2020. "Disciplining expectations and the forward guidance puzzle," Working Paper Series 2424, European Central Bank.
- Stefano Carattini & Garth Heutel & Givi Melkadze, 2023.
"Climate Policy, Financial Frictions, and Transition Risk,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 778-794, December.
- Stefano Carattini & Garth Heutel & Givi Melkadze, 2023. "Online Appendix to "Climate Policy, Financial Frictions, and Transition Risk"," Online Appendices 22-114, Review of Economic Dynamics.
- Fabian Eser & Peter Karadi & Philip R. Lane & Laura Moretti & Chiara Osbat, 2020.
"The Phillips Curve at the ECB,"
Manchester School, University of Manchester, vol. 88(S1), pages 50-85, September.
- Eser, Fabian & Karadi, Peter & Lane, Philip R. & Moretti, Laura & Osbat, Chiara, 2020. "The Phillips Curve at the ECB," Working Paper Series 2400, European Central Bank.
- Eser, Fabian & Lane, Philip & Moretti, Laura & Osbat, Chiara & Karadi, Peter, 2020. "The Phillips Curve at the ECB," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224627, Verein für Socialpolitik / German Economic Association.
- Garcia-Villegas, Salomon & Martorell, Enric, 2024.
"Climate transition risk and the role of bank capital requirements,"
Economic Modelling, Elsevier, vol. 135(C).
- Salomón García-Villegas & Enric Martorell, 2024. "Climate transition risk and the role of bank capital requirements," Working Papers 2410, Banco de España.
- Annicchiarico, Barbara & Di Dio, Fabio & Diluiso, Francesca, 2024.
"Climate actions, market beliefs, and monetary policy,"
Journal of Economic Behavior & Organization, Elsevier, vol. 218(C), pages 176-208.
- Barbara Annicchiarico & Fabio Di Dio & Francesca Diluiso, 2022. "Climate Actions, Market Beliefs and Monetary Policy," CEIS Research Paper 535, Tor Vergata University, CEIS, revised 25 Mar 2022.
- Annicciarico, Barbara & Di Dio, Fabio & Dilusio, Francesca, 2022. "Climate Actions, Market Beliefs, and Monetary Policy," JRC Working Papers in Economics and Finance 2022-14, Joint Research Centre, European Commission.
- Eric Jondeau & Grégory Levieuge & Jean-Guillaume Sahuc & Gauthier Vermandel, 2023. "Environmental Subsidies to Mitigate Net-Zero Transition Costs," Working papers 910, Banque de France.
- Diluiso, Francesca & Annicchiarico, Barbara & Kalkuhl, Matthias & Minx, Jan C., 2021. "Climate actions and macro-financial stability: The role of central banks," Journal of Environmental Economics and Management, Elsevier, vol. 110(C).
- Frederick Ploeg, 2023. "Fiscal Costs of Climate Policies: Role of Tax, Political, and Behavioural Distortions," De Economist, Springer, vol. 171(2), pages 119-137, June.
- Lemoine, Matthieu & Lindé, Jesper, 2023.
"Fiscal stimulus in liquidity traps: Conventional or unconventional policies?,"
European Economic Review, Elsevier, vol. 151(C).
- Linde, Jesper & Lemoine, Matthieu, 2020. "Fiscal Stimulus in Liquidity Traps: Conventional or Unconventional Policies?," CEPR Discussion Papers 15623, C.E.P.R. Discussion Papers.
- Lemoine Matthieu & Lindé Jesper, 2021. "Fiscal Stimulus in Liquidity Traps: Conventional or Unconventional Policies?," Working papers 799, Banque de France.
- Chan, Ying Tung & Ji, Qiang & Zhang, Dayong, 2024. "Optimal monetary policy responses to carbon and green bubbles:A two-sector DSGE analysis," Energy Economics, Elsevier, vol. 130(C).
More about this item
Keywords
aggregate prices; AS AD; climate policy; expectations; pollution tax;All these keywords.
JEL classification:
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
NEP fields
This paper has been announced in the following NEP Reports:- NEP-DGE-2022-10-17 (Dynamic General Equilibrium)
- NEP-ENE-2022-10-17 (Energy Economics)
- NEP-ENV-2022-10-17 (Environmental Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecb:ecbwps:20222726. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Official Publications (email available below). General contact details of provider: https://edirc.repec.org/data/emieude.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.