In his presentation at the Levy Institute’s recent panel on central banks and climate change, William Oman outlined major views on the role of central banks and financial supervisors in an age of ecological threats and climate change, referencing a chapter he and co-authors Mathilde Salin and Romain Svartzman contributed to “The Future of Central Banking.” The intense debates of recent years target two issues in particular: burgeoning ecological threats to price and financial stability, and the evolving redefinition of the role of central banks and financial supervisors (CBFS), especially concerning large asset purchases and liquidity provision. Photo credit Robert Kraus, but where was it taken? Oman identified three main normative approaches. The first, considered the least active response, is […]