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Coupled Climate–Economics Modeling and Data Analysis: Endogenous Business Cycles and Fluctuation–Dissipation Theory

King’s College London

Room SE 1.01, Bush House, Strand, London WC2R 1ES
20 Feb 2019 4 p.m. – 5:30 p.m.

Professor Michael Ghil (Ecole Normale Supérieure, UCLA) will give a talk on  ‘Coupled Climate–Economics Modeling and Data Analysis: Endogenous Business Cycles and Fluctuation–Dissipation Theory’. In this talk he will address the mathematics of non-equilibrium macroeconomics and of its interaction with climate variability and climate change. First, he will review earlier work on endogenous business cycles (EnBCs) and show how they modify the impact of natural catastrophes on the economy. Based on these previous findings, he will formulate an economic version of fluctuation–dissipation theory and show that it is supported by available data from the U.S. Bureau of Economic Analysis. Finally, results on the synchronization of business cycles across the world will be presented.

The talk will be held on 20 February at 4 p.m. - 5:30 p.m. at King’s College London (room: SE 1.01, Bush House; "S" on this map; the most convenient entrance is from Strand) 

The event is organised by the Post-Keynesian Economic Society (PKES) and the International Political Economy Research Group at King's College London.