Veranstaltungen

11. Februar 2025, 17:00 bis 17:45

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

Andere

Christian Glocker will give a talk about his recent research.

Christian Glocker, öffnet eine externe URL in einem neuen Fenster (WIFO) and Thomas Url, öffnet eine externe URL in einem neuen Fenster (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.

Kalendereintrag

Veranstaltungsort

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

 

Veranstalter

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

 

Öffentlich

Ja

 

Kostenpflichtig

Nein

 

Anmeldung erforderlich

Nein