The greening of monetary policy. Why? When? How?
National Research University Higher School of Economics invites you to participate in our online meeting of the Discussion Club on Modern Economic Policy. At this time we will host Professor Hubert Kempf with a presentation
The greening of monetary policy. Why? When? How?
Abstract: Central banks have recently become aware of the economic and financial risks associated with uncontrolled global warming and have begun to mobilize. But until now, monetary policy, which is at the heart of their missions, has not been integrated into the fight against global warming. The purpose of this short presentation is to explore the challenges to monetary policy represented by climate change.
It will briefly describe the change in transmission channels due to climate warming, the capacity of a central bank to respond, possibly by modifying the way it conducts monetary policy and its instruments. It will conclude by discussing the risks these changes represent for a central bank and the need to redefine accordingly its charter and the notion of its independence.
Hubert Kempf
Professor of Economics at the Ecole Normale Supérieure Paris - Saclay (France), Academic Supervisor, International Laboratory for Macroeconomic Analysis
About the speaker: Hubert Kempf is Professor of Economics at the Ecole Normale Supérieure Paris - Saclay (France) and is part-time associate professor at the Higher School of Economics, Moscow. He held positions as senior fellow of the Institut Universitaire de France and Paris School of Economics. He has worked at the Banque de France and visits regularly central banks. He is a former president of the French Economic Association.
Trained as a macroeconomist, he researches extensively on monetary unions and integration issues. He has recently published L'économie des unions monétaires (Paris : Ed. Economica, 2019) An updated version in English is to be published by Springer Verlag in 2021. He has published several books and numerous articles in scientific journals, including the Review of Economic Studies, the Journal of the European Economic Association, and the Journal of International Economics.
He is also working on the greening of finance and banking.
Please address all inquiries to Organizing Committee via email econpolicy@hse.ru