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Two older people sit on a bench near a beach on a clear day.
Feature: Changes in Racial Gaps in Retirement Security over Time

Douglas Elmendorf and Karen Dynan find a large wealth disparity between White and Black families nearing retirement age, and notable wealth declines for both groups between 2001 and 2019.

A man wearing a mask talks on a cell phone.
Feature: Recovering from COVID

James Stock finds that COVID-19 recovery was unprecedented in its rapid speed but still introduced or accelerated structural economic changes, including to the labor force.

Person looks at a text message on their cell phone.
Feature: Efficacy of Text Messaging in Activating Hard-to-Reach Voters

Latanya Sweeney finds that text message reminders can effectively boost engagement and registration accuracy among hard-to-reach voters.

A person reads an academic article on a laptop.
Feature: The Global Distribution of Authorship in Economics Journals

Dani Rodrik finds that Western and Northern European authors are overrepresented in economics journals by an order of magnitude compared to authors based in low-income countries.

Harvard Kennedy School faculty disseminate their research in working publications and papers that contribute to public knowledge and fuel policy innovation. This list features recent faculty publications, including journal articles, books, edited volumes, research papers, and public testimony.

Faculty Publications

Private Benefits from Public Investment in Climate Adaptation and Resilience

Bradt, Jacob T. and Joseph E. Aldy. "Private Benefits from Public Investment in Climate Adaptation and Resilience." March 24, 2025.

Energy, Climate, Growth

Sinha, Jayant, Robert Stavins, Jessica Seddon, and Arunabha Ghosh. "Energy, Climate, Growth." Navigating Challenges for Sustainable Growth. Ed. Suman Bery, Kapil Kapoor, and Jean-Louis Arcand. Singapore: Springer, 2025, 1-18.

Investment versus Output Subsidies: Implications of Alternative Incentives for Wind Energy

Aldy, Joseph, Todd D. Gerarden, and Richard L. Sweeney. "Investment versus Output Subsidies: Implications of Alternative Incentives for Wind Energy." Journal of the Association of Environmental and Resource Economists 10.4 (July 2023): 981-1018.

Behind schedule: The corporate effort to fulfill climate obligations

Aldy, Joseph, Patrick Bolton, Marcin Kacperczyk, and Zachery M. Halem. "Behind schedule: The corporate effort to fulfill climate obligations." Journal of Applied Corporate Finance 35.2 (Spring 2023): 26-34.

Localizing Environmental Regulation: The Case of Boutique Fuels

Aldy, Joseph E., and Maximilian Auffhammer. "Localizing Environmental Regulation: The Case of Boutique Fuels." Resources for the Future, May 2023.

Show and Tell: An Analysis of Corporate Climate Messaging and its Financial Impacts

Aldy, Joseph, Patrick Bolton, Zachery Halem, Marcin T. Kacperczyk, and Peter R. Orszag. "Show and Tell: An Analysis of Corporate Climate Messaging and its Financial Impacts." April 22, 2023.

How Is the US Pricing Carbon? How Could We Price Carbon?

Aldy, Joseph E., Dallas Burtraw, Carolyn Fischer, Meredith Fowlie, Roberton C. Williams III & Maureen L. Cropper. "How Is the US Pricing Carbon? How Could We Price Carbon?" ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP22-018, October 2022.

Learning How to Build Back Better through Clean Energy Policy Evaluation

Aldy, Joseph. "Learning How to Build Back Better through Clean Energy Policy Evaluation." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP22-010, August 2022.

Computation of Convex Hull Prices in Electricity Markets with Non-Convexities using Dantzig-Wolfe Decomposition

Andrianesis, Panagiotis, Dimitris J Bertsimas, Michael Caramanis, and William W. Hogan. "Computation of Convex Hull Prices in Electricity Markets with Non-Convexities using Dantzig-Wolfe Decomposition." IEEE Transactions on Power Systems 37.4 (July 2022): 2578-2589.

Wetlands, Flooding, and the Clean Water Act

Taylor, Charles A., and Hannah Druckenmiller. "Wetlands, Flooding, and the Clean Water Act." American Economic Review 112.4 (April 2022): 1334-1363.

Tipping point dynamics in global land use

Taylor, Charles A., and James Rising. "Tipping point dynamics in global land use." Environmental Research Letters 16.12 (December 2021): 125012.

Strengths and weaknesses of the PJM market model

Hogan, William W. "Strengths and weaknesses of the PJM market model." Handbook on Electricity Markets. Ed. Jean-Michel Glachant, Paul L. Joskow, and Michael G. Pollitt. Edward Elgar Publishing, 2021, 182-204.

Market expectations of a warming climate

Schlenker, Wolfram, and Charles A. Taylor. "Market expectations of a warming climate." Journal of Financial Economics 142.2 (November 2021): 627-640.

Environmental Drivers of Agricultural Productivity Growth: CO2 Fertilization of US Field Crops

Taylor, Charles A., and Wolfram Schlenker. "Environmental Drivers of Agricultural Productivity Growth: CO2 Fertilization of US Field Crops." NBER Working Paper Series, October 2021.

How much could article 6 enhance nationally determined contribution ambition toward paris agreement goals through economic efficiency?

Edmonds, James, Sha Yu, Haewon Mcjeon, Dirk Forrister, Joseph Aldy, Nathan Hultman, Ryna Cui, Stephanie Waldhoff, Leon Clarke, Stefano de Clara, and Clayton Munnings. "How much could article 6 enhance nationally determined contribution ambition toward paris agreement goals through economic efficiency?" Climate Change Economics 12.2 (2021).

National Climate Policies and Corporate Internal Carbon Pricing

Bento, Nuno, Gianfranco Gianfrate, and Joseph E. Aldy. "National Climate Policies and Corporate Internal Carbon Pricing." The Energy Journal 42.5 (2021).

Testimony on the Elimination of Fossil Fuel Subsidies to the US Subcommittee on the Environment

Aldy, Joseph. "Testimony on the Elimination of Fossil Fuel Subsidies to the US Subcommittee on the Environment." US House Oversight Committee, April 22, 2021.

Investor Rewards to Climate Responsibility:Stock-Price Responses to the Opposite Shocks of the 2016 and 2020 U.S. Elections

Ramelli, Stefano, Alexander F. Wagner, Richard J. Zeckhauser, and Alexandre Ziegler. "Investor Rewards to Climate Responsibility: Stock-Price Responses to the Opposite Shocks of the 2016 and 2020 U.S. Elections." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP21-011, March 2021.

Potential revenue and breakeven of energy storage systems in PJM energy markets

Salles, Maurício B. C., Taina N. Gadotti, Michael J. Aziz, and William W. Hogan. "Potential revenue and breakeven of energy storage systems in PJM energy markets." Environmental Science and Pollution Research 28 (March 2021): 12357-12368.

Livestock plants and COVID-19 transmission

Taylor, Charles A., Christopher Boulosb, and Douglas Almonda. "Livestock plants and COVID-19 transmission." Proceedings of the National Academy of Sciences Vol.117.50 (December 15, 2020): 31706-31715.

Rolling the Dice in the Corridors of Power: William Nordhaus’s Impacts on Climate Change Policy

Aldy, Joseph, and Robert N. Stavins. "Rolling the Dice in the Corridors of Power: William Nordhaus’s Impacts on Climate Change Policy." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP20-022, July 2020.

Stock Price Rewards to Climate Saints and Sinners: Evidence from the Trump Election

Ramelli, Stefano, Alexander F. Wagner, Richard J. Zeckhauser, and Alexandre Ziegler. "Stock Price Rewards to Climate Saints and Sinners: Evidence from the Trump Election." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP18-037, September 2018.