TY  - UNPD
A1  - Abiry, Raphael
A1  - Ferdinandusse, Marien
A1  - Ludwig, Alexander
A1  - Nerlich, Carolin
T1  - Climate change mitigation: how effective is green quantitative easing?
T2  - SAFE working paper ; No. 376
N2  - We develop a two-sector incomplete markets integrated assessment model to analyze the effectiveness of green quantitative easing (QE) in complementing fiscal policies for climate change mitigation. We model green QE through an outstanding stock of private assets held by a monetary authority and its portfolio allocation between a clean and a dirty sector of production. Green QE leads to a partial crowding out of private capital in the green sector and to a modest reduction of the global temperature by 0.04 degrees of Celsius until 2100. A moderate global carbon tax of 50 USD per tonne of carbon is 4 times more effective.
T3  - SAFE working paper - 376 
KW  - Climate Change
KW  - Integrated Assessment Model
KW  - 2-Sector Model
KW  - Green Quantitative Easing
KW  - Carbon Taxation
Y1  - 2022
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/70122
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-701226
UR  - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4308678
N1  - We gratefully acknowledge funding of this research project through INSPIRE, Climateworks Foundation.
IS  - December 9, 2022
PB  - SAFE
CY  - Frankfurt am Main
ER  -