Jens van 't Klooster on Recent ECB Policy: A Paradigm Shift Without Legislative Change
Macro Musings with David Beckworth
00:00
Central Banks Supporting the Pandemic Response
There was a conflict between, on the one hand, a much more traditional market liberal objective of just creating a capital market and then leaving it really to private investors. And i think something very similar is happening now in the response to the climate impact of these corporate bond purchase programmes. That's what i describe as atechnocratic cansianism, strategic ambiguity. But i think if you skim through all the technical details, what's happening is steering credit in line with the us. Climatagen that's in a nutshell,. i think, how the e c b has responded to some of the, i think very justified criticisms of the cor protector purchase programm also responds to some parts of its
Transcript
Play full episode
