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Previous studies report the propagation of shocks via supply chains from downstream, but little is known about the propagation from customers to suppliers driven by demand shocks. This column uses Japanese firm-level input-output data to fill this gap. The authors find that negative demand shocks only propagated from large exporters to larger suppliers during the global
Environmental, political, economic, and health disruptions in recent years have helped fuel concerns that too much interdependence through global value chains may be a problem. This column compares the relative effects of a domestic demand shock to those of a global value chain-related shock and concludes that engagement in global value chains allows unexpected shocks to
The Role of Financial Institutions In Tackling The Challenges Of Climate Change, Federal Reserve Governor Lael Brainard At The "2021 IIF U.S. Climate Finance Summit: Financing A Pro Growth Pro Markets Transition To A Sustainable, Low-Carbon Economy" Hosted By The Institute Of International Finance, Washington, D.C. The Role of Financial Institutions In Tackling The Challenges Of Climate Change, Federal Reserve Governor Lael Brainard At The "2021 IIF U.S. Climate Finance Summit: Financing A Pro Growth Pro Markets Transition To A Sustainable, Low-Carbon Economy" Hosted By The Institute Of Inter...
Strengthening The Financial System To Meet The Challenge Of Climate Change, Federal Reserve Governor Lael Brainard At "The Financial System & Climate Change: A Regulatory Imperative" Hosted By The Center For American Progress, Washington, D.C. Date 18/12/2020 I want to thank the Center for American Progress for inviting me to join you in discussing climate change and the U.S. financial system.1 Let me start by noting these are my own views and do not necessarily reflect those of the Federal Reserve Board or the Federal Open Market Committee. Climate change and the transition to a sustai...