Climate change: possible macroeconomic implications

34 Pages Posted: 22 Mar 2024

See all articles by Marilena Angeli

Marilena Angeli

Bank of England

Cassandra Archer

Bank of England

Sandra Batten

Bank of England

Ambrogio Cesa-Bianchi

Bank of England

Lucio D’Aguanno

Bank of England

Alex Haberis

Bank of England

Theresa Löber

Bank of England

Rana Sajedi

Bank of England

Michelle van der Merwe

Bank of England

Boromeus Wanengkirtyo

Bank of England

Date Written: October 21, 2022

Abstract

Since it influences key economic variables such as output and inflation, climate change matters for monetary policymakers such as the Monetary Policy Committee. While monetary policy cannot be expected to solve climate change, monetary policy makers need to monitor and understand its macroeconomic implications in order to achieve their inflation target.

This article explores the macroeconomic effects of physical impacts from climate change (such as extreme weather) and the transition to a net-zero economy (such as through less carbon intensive investment), with a particular focus on the UK economy.

Suggested Citation

Angeli, Marilena and Archer, Cassandra and Batten, Sandra and Cesa-Bianchi, Ambrogio and D’Aguanno, Lucio and Haberis, Alex and Löber, Theresa and Sajedi, Rana and van der Merwe, Michelle and Wanengkirtyo, Boromeus, Climate change: possible macroeconomic implications (October 21, 2022). Bank of England Quarterly Bulletin 2022 Q4, Available at SSRN: https://ssrn.com/abstract=4769309

Marilena Angeli (Contact Author)

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Cassandra Archer

Bank of England ( email )

Sandra Batten

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Ambrogio Cesa-Bianchi

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

HOME PAGE: http://https://sites.google.com/site/ambropo/

Lucio D’Aguanno

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Alex Haberis

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Theresa Löber

Bank of England ( email )

Rana Sajedi

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Michelle Van der Merwe

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Boromeus Wanengkirtyo

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

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