2

Climate policy curves highlight key mitigation choices
The extent of future climate change is a policy choice. Using an integrated climate-economy assessment model, we estimate climate …
Cite Article Working Paper PDF Brookings Working Paper CEPR Discussion Paper
The Effect of U.S. Climate Policy on Financial Markets: An Event Study of the Inflation Reduction Act
The Inflation Reduction Act of 2022 (IRA) represents the largest climate policy action ever undertaken in the United States. Its …
Cite PDF FRBSF Working Paper Brookings Working Paper
Perceptions about Monetary Policy
We estimate perceptions about the Federal Reserve’s monetary policy rule from panel data on professional forecasts of interest …
Cite Article PDF FRBSF Working Paper CEPR Discussion Paper Code & Data Estimated Rules
Interest Rate Skewness and Biased Beliefs
The conditional skewness of Treasury yields is an important indicator of the risks to the macroeconomic outlook. Positive skewness …
Cite Article PDF Online Appendix Code & Data Updated Treasury Yield Skewness
The Rising Cost of Climate Change: Evidence from the Bond Market
Social discount rates (SDRs) are crucial for evaluating the costs of climate change. We show that the fundamental anchor for …
Cite Article Working Paper Online Appendix Code & Data r* estimates SDR estimates
A Reassessment of Monetary Policy Surprises and High-Frequency Identification
High-frequency changes in interest rates around FOMC announcements are an important tool for identifying the effects of monetary policy …
Cite Article PDF Conference Webseite Updated Monetary Policy Surprises
An Alternative Explanation for the "Fed Information Effect"
Regressions of private-sector macroeconomic forecast revisions on monetary policy surprises often produce coefficients with signs …
Cite Article PDF Online Appendix Code & Data
Risk Appetite and the Risk-Taking Channel of Monetary Policy
Monetary policy affects financial markets and the broader economy in part by changing the risk appetite of investors. This article …
Cite Article PDF Online Appendix Code & Data Risk Index
Where is the Carbon Premium? Global Performance of Green and Brown Stocks
The relative equity pricing of more climate-friendly (“green”) versus less climate-friendly (“brown”) companies …
Cite Article Brookings WP
Market-Based Monetary Policy Uncertainty
Uncertainty about future policy rates plays a crucial role for the transmission of monetary policy to financial markets. We demonstrate …
Cite Article PDF Online Appendix Code and Data Updated Uncertainty Measure