Online First Journal of Money, Credit and Banking Online 4 Jun 2026Climate Policies, Macroprudential Regulation, and the Welfare Cost of Business CyclesBarbara Annicchiarico · Marco Carli · Francesca DiluisoThis paper embeds a carbon pricing sector into an extended DSGE model with a financial accelerator (E-DSGE) featuring heterogeneous firms, bank monitoring, and a borrowing-constraint amplification …