题目：Welfare Implications of Heatwaves（热浪的福利效应研究)

时间：2023.5.30（周二）10：10-11：30

地点：院系楼401会议室

报告人：徐江旻 副教授（北京大学）

主持人：丁宇刚 博士

报告摘要

Regional heatwaves are associated with lower productivity and economic growth. Implications of these damage estimates for the usefulness of cooling adaptations in a future of global warming remain unclear. To address these implications, we develop a q-theory where heatwaves lead to downward jumps in productivity but firm adaptation spending mitigates exposure to these shocks. Output growth depends on standard productivity and capital accumulation channels and an endogenous growth channel arising from adaptation. Based on our calibration to country-level adaptation, willingness-to-pay—the difference in welfare with and without adaptation—is small and damage from heatwaves large because their frequencies have been historically low.  More frequent heatwaves with global warming quickly increase willingness-to-pay and adaptation spending as a share of output, resulting in lower damage per heatwave.

报告人简介

徐江旻  副教授

现任北京大学光华管理学院金融学副教授。在英国剑桥大学获得一等荣誉经济学学士学位，在美国普林斯顿大学获得经济学博士学位。博士期间师从普林斯顿金融中心创始人Yacine Ait-Sahalia教授、2009年费希尔布莱克奖得主Harrison Hong教授和2011年诺贝尔经济学奖得主Christopher Sims教授。

徐江旻的主要研究领域集中在气候经济学、气候金融学和金融经济学。主持国家社会科学基金青年项目，多次主笔撰写国家发展和改革委员会项目课题。

学术论文发表在Journal of Financial Economics、Journal of Econometrics、《中国社会科学》等国际国内顶级经济金融期刊。曾获得中国金融国际年会（CICF）最佳论文奖，并多次应邀在世界银行总部、美国金融协会年会（AFA）、西方金融协会年会（WFA）、欧洲金融协会年会（EFA）和中国金融国际年会（CICF）宣讲论文。日常担任全球最顶级三大金融期刊Journal of Finance、Journal of Financial Economics、Review of Financial Studies的审稿人。