Gorman Conference and Lectures 2023

Gorman Lectures: Economic Policy to Combat Climate Change

Lecture 1

• Date and Time: Tuesday 12 December, 6-7:30pm
• Location: 106, Roberts Building (view the campus map at this link)

Lecture 2

• Date and Time: Wednesday 13 December, 6-7:30pm
• Location: 106, Roberts Building (view the campus map at this link)

Event Description

How can economic policy be used to address global warming? The first lecture will cover the basic natural-science background, collected into a set of important “stylized facts”. Taken together, these facts strongly suggest that we should limit the emissions of greenhouse gases significantly, but leave open how to best achieve this goal. The second lecture will address the “how” and argue that economic analysis offers very useful tools to this end. It will thus use these tools to compare the pros and cons of different kinds of policy suggestions and end with a discussion of the climate policy strategies adopted in the EU and in the U.S.

About the speaker

Per Krusell is the Torsten and Ragner Soderberg Chair in Economics at the Institute for International Economic Studies at the University of Stockholm. He is a Fellow of the Econometric Society and holds a PhD in Economics from the University of Minnesota. He was the President of the European Economic Association in 2020 and he is currently the Secretary of the Prize Committee for The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.  Per Krusell has made fundamental contributions to many areas of macroeconomics including incomplete markets and inequality, political economy and optimal policy making in dynamic models, labor, technological change, and macroeconomic aspects of climate change.

Gorman Conference Programme (open to Staff and PhD students only)

Thursday 14 December

Morning Session: Chaired by Morten O. Ravn

• 09:00 – 10:00: Dajana Xhani (Tilburg), “Optimal Monetary Policy During a Cost of Living Crisis,” (with Alan Olivi and Vincent Sterk)
• 10:00 - 10:30: Coffee break
• 10:30 – 11:30: Gianluca Violante (Princeton), "Job Amenity Shocks and Labor Reallocation," (with Sadhika Bagga, Lukas Mann, and Aysegul Sahin)
• 11:30 – 12:30: Karin Kinnerud (BI Oslo), “Down-Payment Requirements: Implications for Portfolio Choice and Consumption”
• 12:30 – 14:00: Lunch

Afternoon Session: Chaired by Lukasz Rachel

• 14:00 – 15:00: Per Krusell (IIES), “Identity Capital,” (with Agneta Berge and Fredrik Paues)
• 15:00 – 15:30: Coffee break
• 15:30 – 16:30: Monika Piazzesi (Stanford), “Household Climate Finance: Theory and Survey Data on Safe and Risky Green Assets” (with shifrah Aron-Dine, Johannes Beutel Martin Schneider)
• 16:30 – 17:30: Ludwig Straub (Harvard), “Optimal Long-Run Fiscal Policy with Heterogeneous Agents," (joint with Adrien Auclert, Michael Cai, and Matt Rognlie).
• 18:30: Dinner (by invitation)

Friday 15 December

Morning session: Chaired by Franck Portier

09:00 – 10:00: Jonna Olsson (NHH, Bergen), “Who Should Work How Much?" (joint with Timo Boppart and Per Krusell).
10:00  - 10:30: Coffee break
10:30 – 11:30: Martin Schneider (Stanford), “Uncertainty or Frictions? A Quantitative Model of Scarce Safe Assets,” (with Cosmin Ilut and Pavel Krivenko)
11:30 – 12:30: Ralph Luetticke (UCL, Tuebingen), “Foreign Portfolios and Domestic Business Cycles with Heterogeneous Agents,” (joint with Seungcheol Lee and Morten O. Ravn).
12:30 – 14:00: Lunch

Afternoon Session: Chaired by Kieran Larkin

• 14:00 – 15:00: Jose-Victor Rios-Rull (UPenn, UCL), “Wealth, Wages, and Employment,” (joint with Per Krusell and infeng Luo).
• 15:00 – 15:30: Coffee break
• 15:30 – 16:30: Alisdair McKay (Minneapolis Fed), “From Policy Shocks to Counterfactuals: Extrapolating Policy Transmission,” (joint with Christian Wolf).

Organizers: Alan Olivi, Lukasz Rachel and Morten O. Ravn