Weekly Seminar Series: Stephie Fried
Mar 21, 2025
11:00AM to 12:30PM
Date/Time
Date(s) - 21/03/2025
11:00 am - 12:30 pm
Stephie Fried, Research Advisor at the Federal Reserve Bank of San Francisco, will present to our economics graduate students and faculty on Friday, March 21 in KTH 334!
Stephie is a research advisor for the Federal Reserve Bank of San Francisco and an affiliate of the CEPR and CESifo research networks. Stephie is a leading environmental macroeconomist whose work studies the aggregate and heterogenous impacts of climate change and climate policy. She will be presenting, “A Macro Study of the Unequal Effects of Climate Change”
Abstract
This paper develops a macro heterogeneous-agent model to quantify the distributional impacts of higher temperatures in the US. Households can adjust to temperature by using energy and equipment for heating and cooling. A key insight is that temperature acts as a transfer from nature, augmenting household income by the value of heating or cooling provided by nature. The welfare effects of climate change vary substantially with income, increasing welfare inequality in the colder parts of the US. This heterogeneity results from the effects of climate change on transfers from nature and on households’ extensive-margin decisions to purchase heaters and air conditioners.