Tesi etd-05142026-112646
Link copiato negli appunti
Tipo di tesi
Corso Ordinario Secondo Livello
Autore
MARIANI, MARIACHIARA GABRIELLA
URN
etd-05142026-112646
Titolo
Euro Area - Extended Monetary Policy Dataset: an application with patent data for the green transition
Struttura
Classe Scienze Sociali
Corso di studi
SCIENZE ECONOMICHE E MANAGERIALI - SCIENZE ECONOMICHE E MANAGERIALI
Relatori
tutor Prof. NUVOLARI, ALESSANDRO
relatore Prof. LAMPERTI, FRANCESCO
relatore Prof. LAMPERTI, FRANCESCO
Parole chiave
- green patents
- innovation
- Monetary policy shocks
Data inizio appello
15/06/2026;
Disponibilità
completa
Riassunto analitico
This thesis examines the impact of monetary policy shocks on innovation activity, with a particular focus on green technology patents in the euro area. Building on the Euro Area Monetary Policy Dataset (EA-MPD) introduced by Altavilla et al. (2019), the analysis employs the newly extended Euro Area Extended Monetary Policy Dataset(EA-EMPD) of Altavilla et al. (2025), whose methodological innovations and enhanced scope are discussed in detail. Patent application data are retrieved from the PATSTAT database and classified according to the Cooperative Patent Classification (CPC) system, with green patents identified as those with the Y02 classification, covering technologies relevant to climate change mitigation and adaptation.
Using panel local projections and correcting for Nickell bias, this thesis estimates the dynamic causal effects of two distinct monetary policy shock components, i.e. the target factor and the forward guidance (FG) factor, on patent application counts. The results indicate that forward guidance shocks have a significantly negative effect on patent applications, with this dampening effect being particularly big in magnitude for green technologies. These findings suggest that the signalling channel of monetary policy may have meaningful implications for the green transition by discouraging innovation investment in environmentally critical technological domains.
Using panel local projections and correcting for Nickell bias, this thesis estimates the dynamic causal effects of two distinct monetary policy shock components, i.e. the target factor and the forward guidance (FG) factor, on patent application counts. The results indicate that forward guidance shocks have a significantly negative effect on patent applications, with this dampening effect being particularly big in magnitude for green technologies. These findings suggest that the signalling channel of monetary policy may have meaningful implications for the green transition by discouraging innovation investment in environmentally critical technological domains.
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