5 results found
IMF   |  
Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature

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.

Category:  Helsinki Principle 4, Fiscal Instruments for Climate Policy, Macroeconomics of Climate Change, Climate Change Fiscal Risk Assessments and Management

IMF   |  
The Effects of Weather Shocks on Economic Activity: What are the Channels of Impact?

Global temperatures have increased at an unprecedented pace in the past 40 years. This paper finds that increases in temperature have uneven macroeconomic effects, with adverse consequences concentrated in countries with hot climates, such as most low-income countries. In these countries, a rise in temperature lowers per capita output, in both the short and medium term, through a wide array of channels: reduced agricultural output, suppressed productivity of workers exposed to heat, slower investment, and poorer health.

Category:  Macroeconomics of Climate Change

IMF   |  
Climate Mitigation in China: Which Policies Are Most Effective?

For the 2015 Paris Agreement on climate change, China pledged to reduce the carbon dioxide (CO2) intensity of GDP by 60–65 percent below 2005 levels by 2030. This paper develops a practical spreadsheet tool for evaluating a wide range of national level fiscal and regulatory policy options for reducing CO2 emissions in China in terms of their impacts on emissions, revenue, premature deaths from local air pollution, household and industry groups, and overall economic welfare.

Category:  Macroeconomics of Climate Change

GIZ, IMF, UNEP   |  
Green Fiscal Policy Network

The Green Fiscal Policy Network is a joint partnership between UN Environment (UNEP), the International Monetary Fund (IMF) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) launched in 2011. The Network aims to facilitate knowledge sharing and dialogue on green fiscal policy reforms.

Category:  Fiscal Instruments for Climate Policy, Distribution, Competitiveness & Political Economy, Macroeconomics of Climate Change, Climate Change Fiscal Risk Assessments and Management, Climate Finance, Public Financial Management