Patrick Bolton and Mar Reguant Rido awarded the EAERE Award for ERC Grants Laureates in the field of environmental and resource economics
The European Association for Environmental and Resource Economists (EAERE) has awarded the 2021 EAERE Award for ERC Grants Laureates to CEPR Research Fellow Patrick Bolton and CEPR Programme Director Mar Reguant Rido.
The 'EAERE Award for ERC Grants laureates in the field of environmental and resource economics' recognises scientific excellence among European Research Council grantees. Its aim is to welcome the Awardees into the EAERE community through a complimentary membership, given for the length of their ERC Grant. Awardees receive regular opportunities to publish output from their research projects via the EAERE magazine, as well as the various EARE communication channels and social networks, keeping fellow members updated about the progress of the results of frontier research in Europe.
Patrick Bolton is a Research Fellow in CEPR's Financial Economics (FE) and Organizational Economics (OE) programmes. He is Professor of Finance and Economics at the Imperial College London Business School. He is a grantee of the ERC Advanced Grant for 'FinanceCC - Investors and Climate Change'.
"This research project is divided into two major themes: (A) to determine how financial markets provide the asset price signals and information to help investors shape their portfolio strategies in the face of climate change risk; (B) to identify how institutional investors approach climate change and engage with companies to lead them to accelerate the transition towards renewable energy. These two themes cannot be separated from public policy towards climate change, and the broader context of the global fight against climate change by governments, municipalities, regulators and civil society. Accordingly, a major aspect of the research is to make explicit how public policy shapes corporate behaviour through the actions of institutional investors".
Patrick's CEPR Discussion Papers can be found here, including:
He has also written for VoxEU, including:
- In defence of regional development banks in the Covid-19 era
- Global pricing of carbon-transition risk
Mar Reguant Rido is a Programme Director for CEPR's Industrial Organization (IO) programmes. She is Associate Professor at the Department of Economics Northwestern University. She is a grantee of the ERC Consolidator Grant for 'ENECML - Understanding the Energy Transition with a Machine Learning Toolbox'.
"The goal of the project is to build tools to better understand the economic impacts of the rapid transformation of electricity markets, and to help better design electricity markets going forward. The proposed research focuses both on firm strategic responses and investment (supply-side), as well as consumer behavior and welfare and distributional impacts (demand-side). The project will examine these issues in detail with unique high- frequency micro-data on firms and households. The tools and models developed in this project can help understand the impacts of the energy transition, both on the supply and the demand side. Among the expected methodological contributions, machine learning tools with more standard structural modeling will be combined. On the supply side, the project emphasizes the need to understand how strategic behavior interacts with market design in the presence of intermittent resources. On the demand side, the project highlights the importance of understanding the distributional implications of such changes with special attention to the residential sector and the most vulnerable socio-economic households".
Mar's CEPR Discussion Papers can be found here, including:
She has also written for VoxEU, including:
Read the full EAERE statement here.