Isabel Schnabel: From laggard to leader? Closing the euro area’s technology gap
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lördag, februari 17, 2024
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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.
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.