“The Expectations Channel Of Climate Change: Implications For Monetary Policy.”.pdf

The_Expectations_Channel_of_Climate_Change.pdf
Preview of “The Expectations Channel of Climate Change: Implications for Monetary Policy.”
🔗 Source: peeps.unet.brandeis.edu
📊 Size: 1.13 MB
📄 Pages: 53 pages
⬇️ Downloads: 131

Summary

Researchers measured US consumers' expectations about climate change's short-run economic impact, finding they expect little impact on GDP growth but a high probability of costly disasters. These expectations vary with socioeconomic characteristics, media consumption, and information treatments. A New Keynesian model calibrated to survey results shows that climate-change related disaster expectations lower the natural rate of interest and contribute to cyclical fluctuations, accounting for around 10% of inflation and output gap volatility.

Description

Researchers measured US consumers' expectations about climate change's short-run economic impact, finding they expect little impact on GDP growth but a high...

Technical Information

  • File Format: PDF
  • File Size: 1.13 MB
  • Pages: 53
  • Language: EN
  • Total Downloads: 131
  • Last Updated: 2 days ago

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