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TZID:Europe/Paris
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DTSTART:20251026T030000
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UID:calendar.136504.field_date.0@www.tse-fr.eu
DTSTAMP:20260514T154223Z
CREATED:20250106T131001Z
DESCRIPTION:Diego Känzig (Northwestern University)\, “The Macroeconomic Eff
 ects of Climate Policy Uncertainty”\, Séminaire Banque de France\, June 5\
 , 2025\, 11:30–12:30\, BDF\, Paris\, room Video and Room 6 Grand Hall.\n\n
 We develop a novel measure of climate policy uncertainty based on newspape
 r coverage. Our index spikes during key U.S. climate policy events—includi
 ng presidential announcements on international agreements\, congressional 
 debates\, and regulatory disputes—and shows a recent upward trend. Using a
 n instrument for plausibly exogenous uncertainty shifts\, we find that hig
 her climate policy uncertainty decreases output and emissions while raisin
 g commodity and consumer prices\, acting as supply rather than demand shoc
 ks. Monetary policy counteracts these inflationary pressures\, affecting t
 he transmission of climate policy uncertainty. Firm-level analyses show st
 ronger declines in investment and R&D when firms have higher climate chang
 e exposure.
DTSTART;TZID=Europe/Paris:20250605T123000
DTEND;TZID=Europe/Paris:20250605T133000
LAST-MODIFIED:20250517T001001Z
LOCATION:June 5\, 2025\, 11:30–12:30\, BDF\, Paris\, room Video and Room 6 
 Grand Hall
SUMMARY:Séminaire Banque de France
URL;TYPE=URI:https://www.tse-fr.eu/seminars/2025-macroeconomic-effects-clim
 ate-policy-uncertainty
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