Yasmine van der Straten wins best PhD paper award at the 2023 CEPR European Conference on Household Finance
Yasmine van der Straten wins best student paper award at the CEPR European Conference on Household Finance 2023, organized by CEPR Research and Policy Network (RPN) on Household Finance and the Collegio Carlo Alberto in Turin, with the support of the PhD programme at EDHEC, the National Bank of Denmark and the Queen Mary University of London.
The objective of the conference is to present state-of-the-art empirical and theoretical research on household financial behaviour and on how it is influenced by other choices, government policies, and the overall economic environment. Her paper was one of three students papers selected for presentation from a total of 156 submitted papers by PhD students and professors.
The paper for which the prize was awarded, “Flooded House or Underwater Mortgage? The Implications of Rising Climate Risk and Adaptation on Housing, Income, and Wealth” examines the relationship between financial constraints and optimal adaptation to physical climate risk at the household level and its dynamic consequences on housing, income, and wealth. Yasmine’s paper shows that climate change is intrinsically redistributive of nature. Those with low-income are more vulnerable to climate risk and in the presence of binding financial constraints, these households fail to optimally reduce vulnerability to the impacts of physical risk. This exacerbates wealth inequality and has spillover effects, effectively reducing the welfare of future generations. As low-income households become more constrained as the impacts of climate change intensify, the adaptation gap widens over time.
Yasmine is a second year PhD Candidate in Finance at the University of Amsterdam and Tinbergen Institute under the supervision of research fellows Enrico Perotti and Rick van der Ploeg. Her research is in climate finance and focuses on understanding the effects of financial frictions on effective strategies for addressing climate change. She graduated from Tinbergen Institute’s research master in 2021.