The E-axes Forum on Climate Change, Macroeconomics, and Finance

2023 E-axes Forum Research Prize: Honorable Mention

Mayank Kumar (University of Michigan) argues in his paper “Getting Dirty Before You Get Clean: Institutional Investment in Fossil Fuels and the Green Transition” that private investment in fossil fuel companies does not adversely affect climate outcomes but rather it can support the green transition by financing clean technologies. Specifically, the paper studies the effects of PE investment in fossil fuel on solar energy technologies.

Greenflation and implications for monetary policy

The recent experience with surging inflation, partly driven by supply shocks to the energy sector, has ampiflied concerns over “greenflation,” inflationary pressures resulting from the transition to sustainable energy sources. For this digest Conny Olovsson (ECB and Sveriges Riksbank) and David Vestin (Sveriges Riksbank) have curated the most recent literature on the theoretical and empirical findings on how greenflation arises and what central banks can do to curb it. They, and the papers they have chosen, highlight the central role for foresighted monetary policy as well as a smooth carbon taxation path.

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