Isabel Schnabel: From laggard to leader? Closing the euro area’s technology gap

This paper, by means of a DSGE model including heterogeneous firms and banks, financial frictions and prudential regulation, first shows the need of climate-related capital requirements in the existing prudential framework.

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https://www.ecb.europa.eu//press/key/date/2024/html/ecb.sp240216~df6f8d9c31.en.htmlhttps://www.ecb.europa.eu//press/key/date/2024/html/ecb.sp240216~df6f8d9c31.en.html
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lördag, februari 17, 2024
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Sammanfattning
Key Points: 
  • This paper, by means of a DSGE model including heterogeneous firms and banks, financial frictions and prudential regulation, first shows the need of climate-related capital requirements in the existing prudential framework.
  • We further show that relying on microprudential regulation alone would not be enough to account for the systemic dimension of transition risk.
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