#QJE May 2026, #1, “The Macroeconomic Impact of Climate Change: Global Versus Local Temperature,” by Bilal (@adrienbilal.bsky.social) and Känzig (@dkaenzig.bsky.social): doi.org/10.1093/qje/...

The Macroeconomic Impact of Climate Change: Global Versus Local Temperature*

Abstract. This article estimates that the macroeconomic damages from climate change are an order of magnitude larger than previously thought. Exploiting na

doi.org

S Bigio, @dkaenzig.bsky.social, P Sánchez, & @conorwalsh.bsky.social show the economic costs of carbon policy-induced energy price increases are economically meaningful & highly uneven across households, w/ young and low-income households bearing the largest burden. cepr.org/voxeu/column... #EconSky

Super excited to see this out! It’s been quite a ride. Many thanks to the editors and referees—the paper improved enormously through the review process. And huge thanks to @adrienbilal.bsky.social for being the best co-author one could hope for!

The Quarterly Journal of Economics@qjeharvard.bsky.social · 5mo ago

Recently accepted by #QJE: “The Macroeconomic Impact of Climate Change: Global Versus Local Temperature,” by Bilal (@adrienbilal.bsky.social) and Känzig (@dkaenzig.bsky.social): doi.org/10.1093/qje/...

Excited to share a new R package: 𝗵𝗲𝗮𝘁 🌡️ `heat` makes it easier to work with climate or other gridded data in applied research, providing a comprehensive + optimized set of tools to compute environmental exposures for admin boundaries or points from gridded/point data. github.com/echolab-stan...

GitHub - echolab-stanford/heat: R package heat: Harmonized Environmental Exposure Aggregation Tools

R package heat: Harmonized Environmental Exposure Aggregation Tools - echolab-stanford/heat

github.com

My co-author 𝗠𝗮𝘅 𝗞𝗼𝗻𝗿𝗮𝗱𝘁 is on the academic job market! Max is a fantastic empirical macroeconomist working on the interrelations between the economy, financial markets and climate change. If you are hiring in macro or macro-finance, take a close look at him!

Max Konradt@maxkonradt.bsky.social · 9mo ago

👋I'm on the #EconJobMarket! ❓My JMP, together with @dkaenzig.bsky.social, Lixing Wang and Donghai Zhang studies how green innovation varies over the business cycle. 💡We find that green innovation is countercyclical, while non-green innovation is procyclical. 🔗https://tinyurl.com/4b45h979 🧵👇

👋I'm on the #EconJobMarket! ❓My JMP, together with @dkaenzig.bsky.social, Lixing Wang and Donghai Zhang studies how green innovation varies over the business cycle. 💡We find that green innovation is countercyclical, while non-green innovation is procyclical. 🔗https://tinyurl.com/4b45h979 🧵👇

Very useful discussion on the perils of using micro/cross-sectional parameter estimates in inferring the aggregate effects of policies/shocks. This is pervasive in Economics, yet the two effects can even have the opposite signs. (Example in next post.) voxdev.org/topic/method...

The ‘missing intercept’ problem with going from micro to macro

Many applied microeconomics papers conclude with a back-of-the-envelope calculation that scales their cross-sectional estimates to the aggregate level. These types of aggregate estimates are only vali...

voxdev.org

Thanks to @equitablegrowth.bsky.social for the generous support! Excited to study how global supply chain shocks affect markets and the broader economy. #EGgrantee #EconSky

Washington Center for Equitable Growth@equitablegrowth.bsky.social · 11mo ago

Diego Känzig (@dkaenzig.bsky.social) will provide causal evidence on the economic implications of supply chain disruptions. Using high-frequency financial data, he will identify disruptive incidents, and isolate the market impact of the disruption. equitablegrowth.org/grants/suppl... #EGgrantee

🚨Meet the 2025 Early Career #EGgrantee(s)! Seven scholars will get funding to study economic inequality. Projects range in topic, from the housing crisis to child care to supply chain resilience. Stay tuned this week to learn about each grantee and their research. equitablegrowth.org/equitable-gr...

Equitable Growth awards funding to early career scholars studying the effects of economic inequality

Equitable Growth has awarded funding to seven early career scholars seeking to better understand the effects of economic inequality in the United States.

equitablegrowth.org

Forthcoming in the AER: "Downward Rigidity in the Wage for New Hires" by Jonathon Hazell and Bledi Taska. www.aeaweb.org/articles?id=...

Downward Rigidity in the Wage for New Hires

(Forthcoming Article) - Wage rigidity is an important explanation for unemployment fluctuations. In benchmark models wages for new hires are key, but there is limited evidence on this margin. We use w...

aeaweb.org

I've been working on a new tool, Refine, to make scholars more productive. If you're interested in being among the very first to try the beta, please read on. Refine leverages the best current AI models to draw your attention to potential errors and clarity issues in research paper drafts. 1/

Showing empirically that green innovation is countercyclical and explaining it with a model where backloaded profits make green research and development less sensitive to downturns, from Diego R. Känzig, @maxkonradt.bsky.social, Lixing Wang, and Donghai Zhang https://www.nber.org/papers/w34041

Very much looking forward to today's workshop on Macro Public Finance at the @nber.org SI. Honored to be among a fantastic group of speakers and discussants. If you are in Cambridge, drop by! www.nber.org/conferences/...

Very excited to present some new work on the macroeconomic effects of supply chain disruptions at the @nber.org SI, joint with my brilliant student Ramya Raghavan!

Really looking forward to this year's #SEDmeeting in Copenhagen. If you are around, check out this cool session on shipping trends and disruptions, happening this Saturday from 13:30 to 15:00:

We just finalized the program for this year's @nber.org Summer Institute session on Macro Public Finance: www.nber.org/conferences/... Join us on July 17! @s-stantcheva.bsky.social @dirkkruegerier.bsky.social

SI 2025 Macro Public Finance

nber.org

Oil prices are falling as OPEC+ is considering a third straight monthly output hike with WTI trading below $61. www.bloomberg.com/news/article...

Oil Extends Drop as US Stockpile Build Amplifies Glut Concerns

Oil declined for a third day as US stockpiles gained and OPEC+ members discussed another super-sized production increase for July, just as demand faces headwinds from the US-led trade war.

bloomberg.com

We have a new working paper: 𝐀𝐭𝐭𝐞𝐧𝐭𝐢𝐨𝐧 𝐭𝐨 𝐭𝐡𝐞 𝐌𝐚𝐜𝐫𝐨𝐞𝐜𝐨𝐧𝐨𝐦𝐲 with Sebastian Link, @apeichl.bsky.social, Chris Roth and @johanneswohlfart.bsky.social Short thread below ⬇️ @empctmacrotx.bsky.social @utaustinecon.bsky.social

Proposing an analytic representation of sequence-space Jacobians in heterogeneous agent models in continuous time, which leads to a threefold speed gain, from Adrien Bilal and Shlok Goyal https://www.nber.org/papers/w33525

Vielen Dank für die anregende Diskussion @holgi.bsky.social, @bachmannrudi.bsky.social & @christian-bayer.bsky.social! Gerne möchte ich ein paar Punkte kurz aufgreifen. Ein kurzer Thread👇 @adrienbilal.bsky.social

Wir reden zwar über wichtige Themen: Dekarbonisierung, Zollkrieg, Deindustrialisierung, aber angesichts von München und Yalta 2.0 sind die dann auch wieder unwichtig. Die neue #Wirtschaftskunde ist da. Falls ihr anregende und kurzweilige Ablenkung braucht. wrint.de/2025/02/13/d...

Wir reden zwar über wichtige Themen: Dekarbonisierung, Zollkrieg, Deindustrialisierung, aber angesichts von München und Yalta 2.0 sind die dann auch wieder unwichtig. Die neue #Wirtschaftskunde ist da. Falls ihr anregende und kurzweilige Ablenkung braucht. wrint.de/2025/02/13/d...

@dkaenzig.bsky.social & @adrienbilal.bsky.social show that, in light of new #climate damage estimates based on global temperature variation, the economic case for unilateral #decarbonisation is far stronger than previously thought. cepr.org/voxeu/column... #EconSky

Congratulations to Chris Boehm and former UT Austin grad @kronerniklas.bsky.social on getting their paper "The US, Economic News, and the Global Financial Cycle" accepted at Review of Economic Studies @reveconstudies.bsky.social !🥳 @utaustinecon.bsky.social Link: www.dropbox.com/scl/fi/wak4l...

Congratulations to Silvia Miranda-Agrippino and @giovanni-ricco.bsky.social who were recognized for the AEJ Best Paper Award for Macroeconomics at #ASSA2025 for the paper “The Transmission of Monetary Policy Shocks.” #econsky aeaweb.org/articles?id=...

‼️ Updated Global Financial Cycle Factor Now Available ‼️ Estimated with data up to December 2024 💾 Download at: silviamirandaagrippino.com/code-data

Does unilateral decarbonization pay for itself? In our new short working paper, @dkaenzig.bsky.social and I analyze whether broad decarbonization passes cost-benefit analyses based on purely domestic economic gains in large economies like the U.S. and E.U. WP: nber.org/papers/w3336...

🌎Does unilateral decarbonization pay for itself? In our new working paper, @adrienbilal.bsky.social and I analyze whether large economies like the U.S. and E.U. can justify broad decarbonization policies based purely on domestic economic benefits. WP: nber.org/papers/w3336... #econsky

PLEASE RT :) Submit to the annual Network Science and Economics Conference, the largest US event for network theory and empirical research in and adjacent to economics Deadline Jan 30 (soon!) Conference Apr 11-13 at Stanford

A big welcome to our new Associate Editors Thrilled to have you on board! Alexander Bloedel, Klaus Desmet, Paula Gobbi @miaryc.bsky.social Diego Känzig, Chen Lian, Benjamin Marx, Isabelle Mejean, Michael Thaler @johanneswohlfart.bsky.social @eeanews.bsky.social academic.oup.com/jeea/pages/E...