The macroeconomic implications of climate action


June 5, 9:00 AM EDT to June 6, 2023, 2:45 PM EDT
PIIE Webcast, Washington, DC

Conference organizers: Jean Pisani-Ferry (PIIE) and Adam S. Posen (PIIE)


Introduction and conference outline

Monday June 5, 2023, 9:00 AM EDT

Jean Pisani-Ferry (PIIE) and Adam S. Posen (PIIE)

Session 1: The macroeconomics of climate change mitigation: The state of play and shortcomings

Monday June 5, 2023, 9:15 AM EDT

Suman Bery (NITI Aayog)

•    Antonio Spilimbergo (International Monetary Fund) 
•    John Hassler (Stockholm University) 

•    Alain de Serres (Organization for Economic Cooperation and Development) 
•    James Stock (Harvard University)


Keynote: Pierre Wunsch (National Bank of Belgium)

Monday June 5, 2023, 11:15 AM EDT

Moderator: Jean Pisani-Ferry (PIIE)

National Bank of Belgium Blog
The macroeconomic aspects of climate neutrality – a European perspective
Pierre Wunsch, Thomas Stoerk, and Carine Swartenbroekx
June 6, 2023

Session 2: Is climate action good or bad for productivity and potential growth? Over what time horizon?

Monday June 5, 2023, 12:45 PM EDT

Moderator: Kimberly Clausing (University of California, Los Angeles; PIIE)

•    Philippe Aghion (Collège de France; INSEAD) 
•    Steven Fries (PIIE) 

•    Jason Furman (Harvard Kennedy School; PIIE) 
•    Neil Mehrotra (Federal Reserve Bank of Minneapolis)

Session 3: Does decarbonization change the fiscal equation?

Monday June 5, 2023, 2:45 PM EDT

Moderator: Jason Furman (Harvard Kennedy School; PIIE)

•    Ruud de Mooij (International Monetary Fund )

•    Luis Garicano (Bruegel; University of Chicago Booth School of Business) 
•    Selma Mahfouz (French Ministry of Finance) 

Session 4: Climate action, reallocation, and stranded assets

Monday June 5, 2023, 4:15 PM EDT

Moderator: Maurice Obstfeld (University of California Berkeley; PIIE)

•    Stéphane Hallegatte (World Bank)
•    Robert Z. Lawrence (Harvard Kennedy School; PIIE)  

•    Ioana Marinescu  (University of Pennsylvania) 
•    Stefano Scarpetta (Organization for Economic Cooperation and Development)

In conversation with Andrew Steer (Bezos Earth Fund)

Monday June 5, 2023, 7:30 PM EDT

Moderator: Adam S. Posen (PIIE)

Session 5: Panel discussion: Climate change and macroeconomics: Where do we stand?

Tuesday June 6, 2023, 9:00 AM EDT

Moderator: Jean Pisani-Ferry (PIIE) 

•    Jennifer Harris (Former White House)  
•    Christiane Nickel  (European Central Bank)  
•    Beatrice Weder di Mauro (Centre for Economic Policy Research) 

Session 6: Consequences of policy heterogeneity across countries

Tuesday June 6, 2023, 10:45 AM EDT

Moderator: Cecilia Malmström (PIIE)

•    Chad P. Bown (PIIE) 
•    Kimberly Clausing (University of California, Los Angeles; PIIE)
•    Reinhilde Veugelers (Katholieke Universiteit Leuven; PIIE)

•    Maurice Obstfeld  (University of California Berkeley; PIIE)  
•    Jeromin Zettelmeyer (Bruegel) 

Session 7: Panel discussion: Implications for the global economy

Tuesday June 6, 2023, 1:00 PM EDT

Moderator: Adam S. Posen (PIIE) 

•    Suman Bery (NITI Aayog)
•    Mauricio Cárdenas (Columbia University)
•    Cecilia Malmström (PIIE)
•    Catherine Wolfram (Harvard Kennedy School) 

Concluding remarks

Tuesday June 6, 2023, 2:30 PM EDT

Jean Pisani-Ferry (PIIE) and Adam S. Posen (PIIE)


Event Summary

Climate change mitigation is bound to entail significant consequences for growth, employment, inflation, and public finances. But considerable uncertainty surrounds the channels through which mitigation efforts will bring benefits or impose costs on various sectors of the global economy, from nations to workers, households, and companies. This conference is organized to shed light on this new field of study, including the key mechanisms and methodologies for empirical assessment, and to draw policy conclusions. The conference features presentation of papers, policy panels, and discussion.

View the conference agenda here