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CREI - Macroeconomics

Climate Change, Firms, and the Green Transition

Quantifying Climate Change Impacts: Firm dynamics, innovation, and policy evaluation in the green transition

10h (5 days)

€675 - €1,175

Face-to-face

English

Program date: July 7 - 11, 2025

Application deadline: June 30, 2025

Learn more

Climate Change, Firms, and the Green Transition

Applications for 2025 Summer School programs are open!

Summer school

CREI - Macroeconomics

Climate Change, Firms, and the Green Transition

Course Overview

This course provides an overview of the effects of climate change on firms, and the role of firm dynamics and innovation in the green transition.

It is intended for students, researchers, and practitioners who want to become familiar with state-of-the-art theoretical and empirical tools to quantify firm-level and aggregate damages of climate change, as well as evaluate the effectiveness of existing policies in promoting the green transition.

Topics covered include:

Recent approaches to quantify the effects of climate change at both firm and aggregate levels, bridging the gap between heterogeneous micro-level impacts and their macroeconomic consequences.
An overview of foundational theoretical frameworks on firm dynamics, financial frictions, and innovation, and their application in studying how carbon taxes and green subsidies can foster firm entry, innovation, and the green transition.
An introduction to econometric methods used in recent empirical studies that analyze patent and emissions data to evaluate the impact of current policies on reducing carbon emissions.

Faculty

How are firms adapting, innovating, and being impacted as key players in the climate transition?

This course is ideal for:

Students, researchers, and practitioners seeking state-of-the-art theoretical and empirical tools to analyze firm-level climate impacts and the corporate role in the green transition

Familiarise yourself with the analytical frameworks to quantify climate change damages at the firm level and evaluate how business dynamics shape aggregate economic outcomes

Participants who take this course will:

Master recent methodologies for measuring climate change effects across firms and their macroeconomic consequences
Study theoretical models of firm dynamics, financial frictions, and innovation to analyze corporate responses to carbon pricing and green subsidies
Understand econometric techniques to evaluate how policy environments influence green innovation and emissions reduction at the firm level

Program Syllabus for Climate Change, Firms, and the Green Transition

Here is an outline of the topics that will be discussed during the course.

Recent Approaches to Quantify the Effects of Climate Change at Both Firm and Aggregate Levels

Foundational Theoretical Frameworks on Firm Dynamics, Financial Frictions, and Innovation in the Green Transition

Econometric Methods to Evaluate the Effectiveness of Climate Policies on Green Innovation and Carbon Emissions

List of References

See below a list of texts and articles that may help you prepare for this course.

Articles

Acemoglu, D. (2023). Distorted Innovation: Does the Market Get the Direction of Technology Right? AEA Papers and Proceedings, 113, 1–28.
Acemoglu, D., Akcigit, U., Hanley, D., & Kerr, W. (2016). Transition to Clean Technology. Journal of Political Economy, 124(1), 52–104.
Aghion, P., Bergeaud, A., De Ridder, M., & Van Reenen, J. (2024). Lost in Transition: Financial Barriers to Green Growth. Working Paper, London School of Economics.
Aghion, P., Dechezleprêtre, A., Hémous, D., Martin, R., & Van Reenen, J. (2016). Carbon taxes, path dependency, and directed technical change: Evidence from the auto industry. Journal of Political Economy, 124(1), 1–51.
Albert, C., P. Bustos, and J. Ponticelli (2021). The Effects of Climate Change on Labor and Capital Reallocation. NBER Working Paper no.28995.
Auffhammer, M. (2018). Quantifying Economic Damages from Climate Change. Journal of Economic Perspectives, 32, 33–52.
Barrage, L., and W. D. Nordhaus (2023). Policies, Projections, and the Social Cost of Carbon: Results from the DICE-2023 Model. NBER Working Paper no.31112.
Bilal, A., & Känzig, D. R. (2024). The Macroeconomic Impact of Climate Change: Global vs. Local Temperature. NBER Working Paper 32450.
Bilal, A., & Rossi-Hansberg, E. (2023). Anticipating Climate Change Across the United States. NBER Working Paper 31323.
Calel, R., & Dechezleprêtre, A. (2016). Environmental Policy and Directed Technological Change: Evidence from the European Carbon Market. The Review of Economics and Statistics, 98(1), 173–191.
Caggese, A. (2019). Financing Constraints, Radical versus Incremental Innovation, and Aggregate Productivity. American Economic Journal: Macroeconomics, 11(2), 275–309.
Caggese, A., Chiavari, A., Goraya, S. S., & Villegas-Sanchez, C. (2024). Climate Change, Firms, and Aggregate Productivity. Working Paper. First version: October 2023. Latest version: August 7, 2024.
Hémous, D., & Olsen, M. (2021). Directed Technical Change in Labor and Environmental Economics. Annual Review of Economics, 13, 571–597.
Känzig, D. R. (2023). The Unequal Economic Consequences of Carbon Pricing. NBER Working Paper No. 31221.
Martinsson, G., Sajtos, L., Strömberg, P., & Thomann, C. (2024). The Effect of Carbon Pricing on Firm Emissions: Evidence from the Swedish CO2 Tax. The Review of Financial Studies, 37(6), 1848–1886.
Nath, I. (2024). Climate Change, the Food Problem, and the Challenge of Adaptation through Sectoral Reallocation, Forthcoming, Journal of Political Economy.
Nath, I. B., V. A. Ramey, and P. J. Klenow (2023). How Much Will Global Warming Cool Global Growth? Working Paper.
Ponticelli, J., X. Qiping, and S. Zeume (2023). Temperature, Adaptation, and Local Industry Concentration. NBER Working Paper No.31533
Popp, D. (2019). Environmental policy and innovation: A decade of research. NBER Working Paper 25631.
Somanathan, E., R. Somanathan, A. Sudarshan, and M. Tewari (2021). The Impact of Temperature on Productivity and Labor Supply: Evidence from Indian Manufacturing. Journal of Political Economy, 129, 1797–1827.
Timilsina, G. R. (2022). Carbon Taxes. Journal of Economic Literature, 60(4), 1456–1502.

Why join our Summer School?

All BSE Summer courses are taught to the same high standard as our Master’s programs. Join us to:

1

Network with like-minded peers

2

Study in vibrant Barcelona

3

Learn from world-renowned faculty

Admissions and Requirements

Applicants must ensure they meet course requirements or verify eligibility with Admissions Counselors.

Program date: July 7-11, 2025

Application deadline: June 30, 2025

Requirements

Summer School applicants normally demonstrate one or more of the following:

A strong background in Economics or a field closely related to the course topic (Statistics, Law, etc.)
Postgraduate degree or current Master’s/PhD studies related to the course topic
Relevant professional experience

Requirements for Climate Change, Firms, and the Green Transition Course

Participants must have completed or be close to completing a Master’s Degree in Economics

Schedule

Here is your schedule for this edition of CREI Macroeconomics Summer School, Climate Change, Firms, and the Green Transition course.

Time

7

mon

8

tue

9

wed

10

thu

11

fri

09:00 - 11:00

Lecture

Credit Transfers (ECTS)

ECTS are not available for this course.

Certificate of Attendance

Participants who attend more than 80% of the course will receive a Certificate of Attendance, free of charge.

Fees

Multiple course discounts are available, see more information about available discounts. Fees for courses in other Summer School programs may vary.

Course

The Data Economy: Tools and Applications

The Macroeconomics of Credit and Asset Bubbles

Climate Change, Firms, and the Green Transition

Numerical Methods for Fiscal and Monetary Policy Analysis

Quantitative Methods for Spatial Economics

Sovereign Debt Crises: Theory, Evidence and Policy

POLICYMETRICS: Econometrics for Macroeconomic Policy Making

Modality

Face-to-face

Total Hours

10

15

10

15

ECTS

0

Regular Fee

1,175€

1375€

1,175€

1,375€

Reduced Fee*

675€

775€

675€

775€

* Reduced Fee applies for PhD or Master’s students, Alumni of BSE Master’s programs, and participants who are unemployed.

FAQ

Need more information? Here are some commonly asked questions by participants. Any further queries, please contact our Admissions Team.

Can I see the full Summer School calendar?

You can view the full Summer School calendar here.

Is accommodation included in the course fee?

Accommodation is not included in the course fee. Participants are responsible for finding accommodation.

Are the sessions recorded?

Sessions will NOT be recorded; however, the materials provided by the professor will be available for a month after the course has finished.

How much does each Summer School course cost?

Fees for each course may vary. Please consult each course page for accurate information.

Are there any discounts available?

Yes, BSE offers a variety of discounts on its Summer School courses. See more information about available discounts or request a personalized discount quote by email.