This paper examines the optimal environmental and monetary policy mix in a New Keynesian model embodying pollutant emissions, abatement technology and environmental damage. The optimal response of the economy to productivity shocks is shown to depend crucially on the instruments policy makers have available, the intensity of the distortions they have to address (i.e. imperfect competition, costly price adjustment and negative environmental externality) and the way they interact.

Annicchiarico, B., Di Dio, F. (2017). GHG Emissions Control and Monetary Policy. ENVIRONMENTAL & RESOURCE ECONOMICS, 67(4), 823-851 [10.1007/s10640-016-0007-5].

GHG Emissions Control and Monetary Policy

Annicchiarico, Barbara
Formal Analysis
;
2017-01-01

Abstract

This paper examines the optimal environmental and monetary policy mix in a New Keynesian model embodying pollutant emissions, abatement technology and environmental damage. The optimal response of the economy to productivity shocks is shown to depend crucially on the instruments policy makers have available, the intensity of the distortions they have to address (i.e. imperfect competition, costly price adjustment and negative environmental externality) and the way they interact.
2017
Pubblicato
Rilevanza internazionale
Articolo
Esperti anonimi
Settore SECS-P/01 - ECONOMIA POLITICA
Settore SECS-P/02 - POLITICA ECONOMICA
Settore SECS-P/03 - SCIENZA DELLE FINANZE
English
GHG emissions control policy; Monetary policy; Ramsey problem
https://link.springer.com/article/10.1007/s10640-016-0007-5
Annicchiarico, B., Di Dio, F. (2017). GHG Emissions Control and Monetary Policy. ENVIRONMENTAL & RESOURCE ECONOMICS, 67(4), 823-851 [10.1007/s10640-016-0007-5].
Annicchiarico, B; Di Dio, F
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/2108/196759
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