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Federal Reserve Bank of New York

05/06/2022 | News release | Archived content

Environmental Economics and Policy

On Friday, May 6, 2022, the Federal Reserve Bank of New York and Columbia University Center for Environmental Economics and Policy (CEEP) jointly hosted an in-person conference on environmental economics and policy, with speakers including New York Fed President John C. Williams and a keynote address by Ben Harris, Assistant Secretary for Economic Policy at the U.S. Department of Treasury.

Economists presented research on topics including how low-income communities are disproportionately impacted by climate risks, the unintended consequences of mandatory flood insurance, and how different neighborhoods react to flooding.

watch the event

Opening Remarks

Session I

Keynote Address

Session II

Event Details

Date & Time
May 6, 2022
9:15am - 6:00pm EDT

Location
Federal Reserve Bank of New York
Auditorium
33 Liberty Street
New York, NY
In-person event only (no virtual component)


Audience

This event was open to the public and media. Registration for this in-person only event was available through the registration link. All remarks were on the record and the event was recorded. For media inquiries, please contact Ellen Simon at [email protected].

Agenda

Agenda

8:45am-9:15am Continental Breakfast
9:15am-9:30am Opening Remarks

John C. Williams, President and Chief Executive Officer of the Federal Reserve Bank of New York

SESSION 1: UNEQUAL EFFECTS OF CLIMATE CHANGE

Moderator: Charles Taylor, Columbia University

9:30am-10:15am Surge of Inequality: How Different Neighborhoods React to Flooding

Ana Varela Varela, Assistant Professor, University of Amsterdam

10:15am-11:00am Within City Disparate Temperature Effects of Climate Change

Presenter: Clara Berestycki, Columbia University
(Co-author: Wolfram Schlenker, Professor, Columbia University)

11:00am-11:15am Break
11:15am-12:00pm Unintended Consequences of "Mandatory" Flood Insurance

Presenter: Kristian Blickle, Economist, Federal Reserve Bank of New York
(Co-author: João Santos, Policy Leader for Microprudential Supervision, Federal Reserve Bank of New York)

12:00pm-1:15pm Lunch
1:15pm-2:00pm KEYNOTE ADDRESS

Ben Harris, Assistant Secretary for Economic Policy, U.S. Department of Treasury

2:00pm-2:30pm Break
SESSION II: ECONOMIC AND FINANCIAL STABILITY UNDER A CHANGING CLIMATE

Moderator: Tarikua Erda, Columbia University

2:30pm-3:15pm Climate Stress Testing

Presenter: Hyeyoon Jung, Economist, Federal Reserve Bank of New York
(Co-authors: Robert Engle, Professor, Stern School of Business, NYU; Richard Berner, Professor, Stern School of Business, NYU)

3:15pm-4:00pm Global Warming and Labor Market Reallocation

Jose-Luis Cruz, Princeton University

4:00pm-4:15pm Break
4:15pm-5:00pm Mitigating Disaster Risks in the Age of Climate Change

Presenter: Harrison Hong, Professor, Columbia University
(Co-authors: Neng Wang, Professor, Columbia University; Jingiang Yang, Professor, Shanghai University of Finance and Economics)

5:00pm-5:05pm Closing Remarks

João Santos, Policy Leader for Microprudential Supervision, Federal Reserve Bank of New York

5:00pm-6:00pm Reception

Speakers

Ph.D. Candidate

Columbia University

Economist

Federal Reserve Bank of New York

Ph.D. Candidate

Princeton University

Assistant Secretary for Economic Policy

US Department of Treasury

Professor of Financial Economics

Columbia University

Economist

Federal Reserve Bank of New York

Policy Leader for Microprudential Supervision

Federal Reserve Bank of New York

Assistant Professor

University of Amsterdam

President & CEO

Federal Reserve Bank of New York

resources

Visit the New York Fed's page on Community Development.

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