Seminar

Past

The Macroeconomic Effects of Climate Policy Uncertainty

Diego Känzig (London Business School)

  • Date5 June 2025
  • Time 11h30 - 12h30
  • Room Video and Room 6 Grand Hall

Abstract

We develop a novel measure of climate policy uncertainty based on newspaper coverage. Our index spikes during key U.S. climate policy events—including presidential announcements on international agreements, congressional debates, and regulatory disputes—and shows a recent upward trend. Using an instrument for plausibly exogenous uncertainty shifts, we find that higher climate policy uncertainty decreases output and emissions while raising commodity and consumer prices, acting as supply rather than demand shocks. Monetary policy counteracts these inflationary pressures, affecting the transmission of climate policy uncertainty. Firm-level analyses show stronger declines in investment and R&D when firms have higher climate change exposure.

Other seminars

Pre-Trends Ahead of Monetary Policy Surprises: Recovering the Response of Corporate Investment

  • Seminar

  • Séminaire Banque de France

  • Date 13 October 2026

  • Place Online and Room 4 conference space

  • Speaker or organiser Antoine Hubert de Fraisse (London School of Economics)

Details

Past

The Role of Macroeconomic Uncertainty for Endogenous Attention to Central Bank Communication

  • Seminar

  • Séminaire Banque de France

  • Date 6 October 2026

  • Place Online and in Room F148

  • Speaker or organiser Lena Dräger (Leibniz Universität Hannover)

Details

Past

Innovate to Borrow: How Intangibles Shape Finance and Growth

  • Seminar

  • Séminaire Banque de France

  • Date 29 September 2026

  • Place Online and in Room 4 of the congress space

  • Speaker or organiser Victoria Vanasco (CREI)

Details