Climate Conversations: The Macroeconomy

Climate change will almost certainly influence policy across all sectors of the U.S. economy. However, macroeconomic modeling, which informs budgeting all the way up to the federal level and therefore influences the direction of economic policy, does not yet account for the impacts of climate change.

Join us for a conversation about how economists can better incorporate physical climate risks into macroeconomic models. Eric Kemp-Benedict (Stockholm Environment Institute) moderated a conversation with Gregor Semieniuk (World Bank) and Tara Sinclair (U.S. Department of the Treasury) exploring why and how macroeconomic models were developed, the trade-offs economists have made to produce meaningful results, why factors as unpredictable as climate change are so hard to account for, and ways policy makers can better consider climate while modeling other economic variables. 

Climate Conversations: Pathways to Action is a monthly webinar series from the National Academies of Sciences, Engineering, and Medicine that aims to convene high-level, cross-cutting, nonpartisan conversations about issues relevant to policy action on climate change.