PUBLICATIONS | Policy Briefs
11 December 2018
Adeline Guéret, Paul Malliet, Aurélien Saussay, Xavier Timbeau
The international process for tackling climate change endured several backslashes since the signing of the Paris Agreement in 2015. Issues around the respective responsibilities are not fully solved yet. The underlying question of how to share efforts in order to reach a Zero Net Emissions state remains largely unclear and the INDCs process has still to deliver a pathway for decarbonization...
07 May 2018
Francesco Vona
Political acceptability is an essential issue in choosing the appropriate climate policy. Sociologists and behavioral scientists recognize the importance of selecting environmental policies that have broad political support, while economists compare different instruments first based on their efficiency and then by assessing their distributional impacts and thus the political acceptability of such policies...
15 March 2018
Christophe Blot, Jérôme Creel, Paul Hubert
Low inflation despite economic recovery has given rise to the puzzle of “missing inflation”. Yet there would be no puzzle if the recovery is incomplete. While GDP is on the rise, some slack may still be present in some countries of the euro area...
20 December 2017
Christophe Blot, Jérôme Creel, Paul Hubert
The predictability of the exit from balance sheet policies is essential to ensure that financial markets can digest the extra supply of securities that they will face when the ECB will taper.
The question about what the central banks' balance sheets should look like in the “new normal” come down to the objectives of central banking and whether monetary policy should aim to maintain economic and financial stability.
The ECB should consider using balance sheet policies...