Economics Observatory | Questions and answers about coronavirus and the UK economy

‘Monetary financing’: is it happening and what are the dangers?

Has the Bank of England been ‘printing money’ to pay for government programmes to tackle the economic damage from the coronavirus crisis? No: it is useful to understand the division of responsibilities between fiscal policy and monetary policy – and why it exists.

Festival of Economics 2023

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Energy & climate change

Energy transition minerals: what are they and where will they come from?

To meet its net-zero targets, the UK needs a transition to cleaner energy and greener transport. This will require larger and more stable supplies of critical minerals. The government should also implement policies to improve mining practices, reduce demand, and increase reuse and recycling.

Schools, universities & training

How can education and skills contribute to levelling up?

Education and skills contribute to differences in earnings and opportunities across generations, both at the national level and between local authorities in England. Targeted policies can help to reduce the gaps between individuals and contribute to efforts to level up the UK economy.

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Energy & climate change

How have economists thought about climate change?

Some economists have been at the forefront of debates about policies to combat global warming. Research over the past three decades has explored issues around the likely effects of climate change; when to take action; and how to achieve efficient reductions in greenhouse gas emissions.

Energy & climate change

How can climate promises be met while maintaining fiscal sustainability?

While the public finances in many countries are now under great pressure, this is no time to forget commitments to tackling climate change. Indeed, conditional on action being taken early, governments’ support for the transition to net zero could ultimately improve fiscal sustainability.

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Data stories

Festival of Economics: US data explorer

A series of interactive charts exploring crime data for the USA.

Banks & financial markets

How will climate change affect public finances and sovereign risk?

Enthusiasm for ‘greening’ the financial system is welcome, but a central challenge remains: decision-makers lack some basic information. It’s not enough to know that climate change is a threat, markets need credible sources on how global warming translates into material risks.

Energy & climate change

How are climate change policies affecting firms’ competitiveness?

Policies to tackle climate change can impose costs on firms, especially those with high emissions of greenhouse gases, potentially reducing their competitiveness in global markets. Such measures can also encourage innovation and provide opportunities for growth.

Energy & climate change

Will our energy use change after the pandemic and COP26?

As economic activity slowed dramatically in the wake of Covid-19 and lockdowns, the world inadvertently moved towards meeting its objectives for limiting climate change. In the recovery, this progress is likely to be undone unless policy-makers act decisively.

Energy & climate change

How is the cost of living crisis affecting net-zero policies?

Rising energy prices have sparked calls to scale down UK decarbonisation policies, as well as to resurrect extraction of shale gas by fracking. But public support for pursuing ‘net-zero’ carbon emissions remains high; and the transition will bring benefits from health improvements to green jobs.

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