Examples of both international and European for a, where we are working together with other actors, include initiatives under the auspices of the G20, where the New Data Gaps Initiative includes, as part of its four main statistical and data priorities, work on climate data as well as, here in Europe, similar work by the Committee on Monetary, Financial and Balance of Payments Statistics on sustainable finance and climate related risks.
The most important reasons for different policy paths are differences in underlying economic structures and differences in the timing, nature and duration of economic shocks. 3 This being said, there is an interesting sideline in Obstfeld and Rogoff’s paper, which seems to me to be very relevant for the current situation and which would be a fruitful area for future research.