We host different speakers at our Economic Theory & Policy Seminar. 

Upcoming topics and speakers will be posted below.

11. February 2025, 17:00 until 17:45

Brown Bag Seminar / Ch. Glocker (WIFO) / Climate Change and Economic Dynamics: Beyond Conventional Shock Propagation

Other

Christian Glocker will give a talk about his recent research.

Christian Glocker, opens an external URL in a new window (WIFO) and Thomas Url, opens an external URL in a new window (WIFO)

"Climate Change and Economic Dynamics: Beyond Conventional Shock Propagation"

 

The gradual transition between different climate states, as evidenced by the smooth rise in temperatures, provides a rationale for conceptualizing climate change as a phenomenon influencing the propagation mechanism of traditional macroeconomic shocks, rather than as an independent shock in and of itself. We formalize this idea through a theoretical model that emphasizes that climate change induces a structural shift in the economy by steepening the aggregate supply curve, thereby exacerbating the price effects of demand shocks while dampening the output response. Our empirical results support this hypothesis, highlighting its role in exacerbating stagflationary dynamics rather than serving as an independent source of business cycle fluctuations.

Calendar entry

Event location

ECON
1040 Vienna
Wiedner Hauptstr. 8-10, Seminarroom: DB 04 (Freihaus Building, yellow area, 4th floor)

 

Organiser

TU Wien
Julia Hutter
julia.hutter@tuwien.ac.at

 

Public

Yes

 

Entrance fee

No

 

Registration required

No

Brown Bag Seminar / Ch. Glocker (WIFO) / Climate Change and Economic Dynamics: Beyond Conventional Shock Propagation

Christian Glocker will give a talk about his recent research.

Christian Glocker, opens an external URL in a new window (WIFO) and Thomas Url, opens an external URL in a new window (WIFO)

"Climate Change and Economic Dynamics: Beyond Conventional Shock Propagation"

 

The gradual transition between different climate states, as evidenced by the smooth rise in temperatures, provides a rationale for conceptualizing climate change as a phenomenon influencing the propagation mechanism of traditional macroeconomic shocks, rather than as an independent shock in and of itself. We formalize this idea through a theoretical model that emphasizes that climate change induces a structural shift in the economy by steepening the aggregate supply curve, thereby exacerbating the price effects of demand shocks while dampening the output response. Our empirical results support this hypothesis, highlighting its role in exacerbating stagflationary dynamics rather than serving as an independent source of business cycle fluctuations.