The transition towards climate neutrality is creating both winners and losers. Renewable energy development often faces opposition from local communities concerned about potential environmental impacts without significant economic benefits. Using Italy as a case study, this column investigates whether such opposition translates into political costs at the polls. It finds that local governments authorizing wind […]
Azerbaijan’s capital, Baku hosted the annual global climate Conference of the Parties (COP) from November 11–23 2024. Over 60,000 delegates were registered from nearly 200 countries for COP29. Dubbed a “Climate Finance COP”, the annual Conference of the Parties dedicated to climate change centered on one of the most challenging issues facing countries: how to pay […]
High temperature shocks create monetary policy trade-offs. This column uses a new monthly data set to study how 14 European central banks have responded to abnormally high temperatures in a centennial perspective (1920-2019). High temperature shocks are negative supply shocks to which central banks have reacted by lowering their interest rates. The macroeconomic impact of […]
