climate

The changing climate of central banking

The changing climate of central banking

Nearly everywhere one looks nowadays – newsrooms, corporate manifestos, and government agendas – climate change has moved from the fringe to centre stage. And central banks, after standing on the sidelines for so long, have recently begun to play a starring role. The Bank of England (BOE), for example, just became the first central bank … Read more

Firm-specific risk-neutral distributions with options and CDS

The role of financial institutions in tackling the challenges of climate change

I want to thank the Institute of International Finance for inviting me to join this discussion. Let me start by noting that these are my own views and do not necessarily reflect those of the Federal Reserve Board or the Federal Open Market Committee. Climate change is already imposing substantial economic costs and is projected … Read more