New Environmental Challenges for Fiscal, Monetary, and Macroprudential Policy: Bayes Business School 16-17 January 2025

The macro-financial implications of unabated climate change and environmental degradation rightly trigger diverse responses by policymakers, academics, firms, and the public. The conference aims to bring together expertise concerning, amongst others, environmental stress tests for banks and financial institutions, in-depth studies of financial markets pricing of transition and physical risks, the study of monetary and fiscal policy strategies to foster and fund the green transition, scenario analyses to evaluate the impact on economic activity of a changing environmental context, and econometric tools for the measurement and forecasting of changing climatic conditions and risk. 

While some progress has been made in studying the climate-macro-finance interface, more theoretical and empirical modeling developments are needed to account for nonlinearities, cumulative causations, and amplifying mechanisms. Much more is left to do regarding the understanding of the emerging biodiversity risk and structural changes concerning the various sectors responsible for greenhouse gas (GHG) emissions and environmental degradation.

Topics of particular interest for the conference are:

• Green transition and challenges: fossil fuels phasing out, sustainable energy, critical minerals, value chain disruptions, deglobalization.

• Fiscal, monetary, and macroprudential policies for adaptation and mitigation.

• Environmental risk insurance, reinsurance,  Catastrophe (CAT)-bonds pricing, and risk distribution regulation.

• Sources and impacts of nonlinearities in climate change, biodiversity loss dynamics, and improved environmental stress tests and scenario analysis.

• The macro-finance of climatic and biodiversity risks and advances in climate and environmental finance.

• Policy challenges from persistent adverse international supply-side developments and early warnings of compound macroeconomic, financial, and geopolitical risk and uncertainty.

• Climate econometrics: measuring and forecasting evolving climatic conditions, sources attribution, and risk.

   

Papers submitted to the conference might be considered for publication in a special issue of the European Economic Review on "Macroeconomic Regime Changes: Theory, Evidence, and Policy Challenges". The submission deadline for this special issue is 30 October 2024. Please see here for the call for papers and submission instructions. 

Program Details

Keynote Speakers

• Robert Engle (New York University)

• Stefano Giglio (Yale University)

• David Hendry (University of Oxford)

• Marcin Kacperczyk (Imperial College Business School London)

• Lucrezia Reichlin (London Business School)

Invited plenary sessions 

The European Central Bank and the Bank of England will organize two invited plenary sessions.

Submit your paper through Conference Maker here: editorialexpress.com/cgi-bin/conference/conference.cgi?action=login&db_name=2CMFI

Deadlines

• Paper submission deadline: 30 October 2024

• Notification: 8 November 2024

• Registration for contributors: 8-16 November 2024

• Late Registration for contributors: 17-24 November 2024

• Late Registration for non-contributors ends on 7 January 2025 

Registration Fee

• Early fee: €250 (standard); €150 (PhD students)

• Late fee: €500 (standard); €250 (PhD students)

The registration fee includes the daily catering. No refunds are available.

Organizers

• Paul De Grauwe (London School of Economics and Political Science)

• Mahmoud Fatouh (Bank of England and Leicester University)

• Francesco Paolo Mongelli (European Central Bank and Goethe University Frankfurt) - Co-Chair

• Claudio Morana (University of Milano-Bicocca) - Co-Chair

• Giovanni Urga (Bayes Business School) - Co-Chair

Local Organizers

• Elisabetta Pellini (Bayes Business School)

• Giovanni Urga (Bayes Business School)

Scientific Committee

• Lucia Alessi (Joint Research Centre - European Commission)

• Richard Baillie (Michigan State University and King's College London)

• Pierpaolo Benigno (University of Bern)

• Nuno Cassola (University of Lisbon)

• Jennifer Castle (University of Oxford)

• Marcelle Chauvet (University of California-Riverside)

• Paul De Grauwe (London School of Economics and Political Science)

• Mahmoud Fatouh (Bank of England and Leicester University)

• Jesus Gonzalo (University Carlos III of Madrid)

• Ana Maria Herrera (University of Kentucky)

• Eric Hillebrand (Aarhus University)

• Artur Kotlicki (Bank of England)

• Michele Lenza (European Central Bank)

• Francesco Paolo Mongelli (European Central Bank and Goethe University Frankfurt)

• Claudio Morana (University of Milano-Bicocca)

• Ioana Neamtu (Bank of England)

• Elisa Ossola (University of Milano-Bicocca)

• Elisabetta Pellini (Bayes Business School)

• Aleksey Popov (European Central Bank)

• Livio Stracca (European Central Bank) 

• Patrizio Tirelli (University of Pavia)

• Giovanni Urga (Bayes Business School)

Contact: RCEA

More Information