The E-axes Forum on Climate Change, Macroeconomics, and Finance
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Digests

Our monthly Digests are curated by economists working on climate economics. They are based on the curator’s latest research and highlight the most critical contributions to a specific subject. The Digests aim to illuminate current research and policy debates on mitigating and adapting to climate change from an economic perspective. By distilling complex academic papers into an accessible format, the Digests enable readers to efficiently keep up with this rapidly evolving research area. The series offers a reliable source of current climate economics knowledge to inform analysis and decision making.

Who pays when disaster strikes? Insurance and the macroeconomics of climate catastrophes

Margherita Giuzio (ECB) examines how insurance coverage shapes economic recovery in the aftermath of climate-related disasters..

Climate Migration: Who Moves and Who Gets Left Behind

Moumita Das (University of California Santa Cruz) shows that a one-degree increase in mean daily temperature is associated with higher rates of temporary out‑migration in India.

Green Financial and Monetary Policy in the Low-Carbon Transition: Drivers and Impacts

Lukas Rischen (Humboldt University) examines how green fiscal and monetary policy instruments shape renewable energy investment and accelerate countries' progress along their low-carbon transition pathways.

Invisible Risk: How Temperature Extremes Shape Violence Against Women in Bolivia

Julieth Saenz-Molina (Fordham University) uses Bolivia's stark geographic contrast between tropical lowlands and high-altitude Andean regions to show genuine heterogeneity in climate effects driven by local de-adaptation to certain temperatures.

Carbon Policy, Inequality, and the Macroeconomics of the Green Transition

Alessandro Sardone (Halle Institute for Economic Research) examines how, despite the EU's unwavering commitment to net-zero by 2050 and carbon pricing as its central policy instrument, the macroeconomic and distributional consequences of the transition remain poorly understood — particularly how rising energy costs ripple through production, inflation, and household incomes across income groups, and how policy design ultimately shapes these dynamics.

From Smoke to Solutions: Tackling Agricultural Burning Through Farmer Constraints

Piyush Gandhi (University of California Santa Cruz) investigates the effect of information constraints on the adoption of clean alternatives to crop burning in Punjab.

Carbon Markets and Industry Dynamics: Exit, Entry and Reallocation

Flora Marchioro (USI) and Antonia Pacelli (TSE) highlight how the distributional design of carbon markets can influence industry structure and environmental outcomes

Green Bonds: Commitment to Sustainability under Asymmetric Information

Benjamin Schneider (HEC Montréal) provides new insights into whether markets view green bonds as signal for commitment and reduced exposure to climate risks.

From Floods to Fossil Fuels: Ranking Climate Risk Across Nations

Matteo Ferrazzi, Fotios Kalantzis, and Sanne Zwart (EIB) introduce a novel, multidimensional index that assesses climate risk exposure across more than 170 countries

Information Effect Magnified under Output-based Climate Adaptation Subsidies

Yunyu Shu (Shanghai University of Finance and Economics ) and Jiayue Zhang (Brown University) investigate how information shapes adaptation under different subsidy schemes among cocoa farmers in Ghana.

Do common shocks drive changes in aggregate emissions intensity?

Fulvia Marotta (Smith School, DNB) , Xiyu Ren (Smith School and INET), and Francois Lafond (INET) examine industry-level emissions intensity in the UK from 1990 to 2022, using emissions data constructed from activity-based environmental accounts and find evidence of co-movement.

Timing Matters: When Shareholder Proposals Actually Drive Sustainable Investment

Bram van der Kroft (MIT) shows that the "when" is as important as the "what": sustainable proposals only change corporate behavior when they coincide with a firm’s natural reinvestment cycle—the short window in which long‑lived assets are already due for replacement.

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