This paper analyzes monetary policy responses to weather shocks in a climate-exposed economy characterized by rural agriculture and modern manufacturing sectors. Targeting core inflation rather than headline inflation is optimal when weather shocks hit agriculture harder than manufacturing.
Annicchiarico, B., Crofils, C. (2024). Climate Vulnerability and Monetary Policy in a Dual Economy. REVUE D'ÉCONOMIE DU DÉVELOPPEMENT, Vol. 32(3-4), 91-97.
Climate Vulnerability and Monetary Policy in a Dual Economy
Annicchiarico BarbaraWriting – Original Draft Preparation
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2024-01-01
Abstract
This paper analyzes monetary policy responses to weather shocks in a climate-exposed economy characterized by rural agriculture and modern manufacturing sectors. Targeting core inflation rather than headline inflation is optimal when weather shocks hit agriculture harder than manufacturing.File in questo prodotto:
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