European Central Bank Conference
The European Central Bank will hold its ninth Monetary Policy Conference with the ambition of bridging science and practice. While again featuring an impressive line-up of invited speakers, the conference will also include a special session that gives young economists the opportunity to present their work to central bankers and practitioners.
In this context, Evi Pappa (Universidad Carlos III de Madrid) will present the paper “Natural Disasters and Fiscal Shelters,” co-authored with Álvaro Fernández-Gallardo (Banco de España), on 5 May 2026 at the Climate, Nature and Monetary Policy Conference hosted by the ECB in Frankfurt.
The paper is part of a research session focused on the fiscal implications of climate change. The conference brings together academics, central bankers, and policymakers to discuss how climate change, environmental degradation, and the green transition are reshaping macroeconomic dynamics and monetary policy frameworks.
This invitation-only event, jointly organised by institutions including the London School of Economics and the Frankfurt School of Finance & Management, aims to foster dialogue on the inflationary and financial stability risks associated with environmental shocks. Discussions will cover how such risks affect fiscal policy, monetary transmission, and economic resilience.
The contribution by Pappa and Fernández-Gallardo addresses a key emerging question: how governments respond fiscally to natural disasters and the role of “fiscal shelters” in mitigating their macroeconomic impact. Their work provides new insights into the interaction between environmental shocks and public finances, an increasingly relevant issue as climate-related events intensify.
The session forms part of a broader programme that includes keynote speeches by leading policymakers such as Christine Lagarde and Philip Lane, as well as panels on monetary strategy and climate-related risks.
This participation highlights the active role of Universidad Carlos III de Madrid in advancing research at the intersection of climate economics and macroeconomic policy.
European Central Bank Conference
The European Central Bank will hold its ninth Monetary Policy Conference with the ambition of bridging science and practice. While again featuring an impressive line-up of invited speakers, the conference will also include a special session that gives young economists the opportunity to present their work to central bankers and practitioners.
In this context, Evi Pappa (Universidad Carlos III de Madrid) will present the paper “Natural Disasters and Fiscal Shelters,” co-authored with Álvaro Fernández-Gallardo (Banco de España), on 5 May 2026 at the Climate, Nature and Monetary Policy Conference hosted by the ECB in Frankfurt.
The paper is part of a research session focused on the fiscal implications of climate change. The conference brings together academics, central bankers, and policymakers to discuss how climate change, environmental degradation, and the green transition are reshaping macroeconomic dynamics and monetary policy frameworks.
This invitation-only event, jointly organised by institutions including the London School of Economics and the Frankfurt School of Finance & Management, aims to foster dialogue on the inflationary and financial stability risks associated with environmental shocks. Discussions will cover how such risks affect fiscal policy, monetary transmission, and economic resilience.
The contribution by Pappa and Fernández-Gallardo addresses a key emerging question: how governments respond fiscally to natural disasters and the role of “fiscal shelters” in mitigating their macroeconomic impact. Their work provides new insights into the interaction between environmental shocks and public finances, an increasingly relevant issue as climate-related events intensify.
The session forms part of a broader programme that includes keynote speeches by leading policymakers such as Christine Lagarde and Philip Lane, as well as panels on monetary strategy and climate-related risks.
This participation highlights the active role of Universidad Carlos III de Madrid in advancing research at the intersection of climate economics and macroeconomic policy.