This paper investigates how green credit regulation affects firms' loan conditions and their
economic and environmental performance. In a simple theoretical model, with strengthened …

We study the relationship between business cycles and the design and effects of
environmental policies, particularly those with economy-wide significance like climate …

This paper studies the economic impacts of carbon pricing. Exploiting institutional features of
the European carbon market and high-frequency data, I document that a tighter carbon …

Limiting global warming to well below 2° C may pose threats to macroeconomic and
financial stability. In an estimated Euro Area New Keynesian model with financial frictions …

We study climate and macroprudential policies in an economy with financial frictions. Using
a dynamic stochastic general equilibrium model featuring both a pollution market failure and …

In the process of global net zero, achieving low-carbon energy transition is an inevitable
choice for sustainable development. Based on the annual panel data of 77 countries and …

Climate change has profound effects not only on societies and economies, but also for the
ability of central banks to deliver price stability in the future. Among others, climate change …

We study the transmission mechanism of a Green QE, defined as a policy that tilts the central
bank's balance sheet toward green bonds, that is bonds issued by non-polluting firms. We …

This paper assesses the risk arising from transition toward a low-emission economy and
examines its transmission channels within the financial system. The environmental dynamic …

Production restriction is an environmental regulation adopted in China to curb the air
pollution of industrial enterprises. Frequent production restrictions may cause economic …