William Oman

“Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature”

Event description

William Oman and Assistant Governor of Danmarks Nationalbank, Signe Krogstrup presented their  paper “Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature.” From the abstract:

Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The literature provides a menu of policy tools for mitigation. A key conclusion is that fiscal tools are first in line and central, but can and may need to be complemented by financial and monetary policy instruments. Some tools and policies raise unanswered questions about policy tool assignment and mandates, which we describe. The literature is scarce, however, on the most effective policy mix and the role of mitigation tools and goals in the overall policy framework.

Moderator:

Pierre Monnin
Senior Fellow, CEP

William Oman

William Oman is an economist at the International Monetary Fund, where he works on climate- and nature-related risks, sustainable finance and macrofinancial issues within the Monetary and Capital Markets Department. Previously, he worked in the IMF’s European Department and European Offices. Before joining the IMF, he worked at Roubini Global Economics in London. His recent work has focused on the implications of climate change for macroeconomic policies and central banking.

Paper and slides

"Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature" (Paper)

"Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature" (Slides)

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