Postgraduate Research Opportunity: The Wealth Channel in Climate Change Macroeconomics

Project summary: Climate change is increasingly studied by empirical and theoretical macroeconomists. This project will provide an opportunity for the successful applicant to investigate the importance of a potential wealth channel for climate change outcomes and policy. The project shall use the latest developments in econometrics and theoretical modelling, in a highly topically area of research.

Start date: 1^st October 2025

Duration: 36

Funding: Funded

Funding towards:

• Home fee
• Stipend - UKRI stipend rate for UK students

Funding details: Fully-funded scholarship for 3 years covers all university tuition fees (at UK level) and an annual tax-free stipend. International students are also eligible to apply, but they will need to find other funding sources to cover the difference between the home and international tuition fees. Exceptional international candidates may be provided funding for this difference.

Number of places: 1

Number of places extra: There will be a shortlisting and interview process.

RCUK eligibility: No

Eligibility: To be considered for this PhD position, the candidate should have strong quantitative skills and good communication skills. Applicants should also have a good primary undergraduate degree and preferably hold or be about to complete a master’s degree in economics or related discipline with very good grades. A strong interest in Climate change economics with a focus on economic thinking is essential. Further details can be found here: www.strath.ac.uk/studywithus/postgraduateresearchphdopportunities/business/economics/thewealthchannelinclimatechangemacroeconomics

Study modes eligibility: Full-time

Fee status:

• Home
• International

Project details: Amid a period when the United Nations has identified climate change as one of the most pressing challenges of our time, a growing body of complex and contested literature has emerged regarding its effects on GDP. Focusing on GDP, however, ignores the wealth channel which can be of importance for climate change. As wealth is a stock variable which is driven by asset valuations and savings behaviour, climate change may damage the asset valuations and impact savings behaviour in the short and long run.

This project will investigate the role of wealth stock in climate change and climate change policy by employing a mixed methods approach. We empirically investigate the impact of national and extreme temperatures upon the country’s wealth using a benchmark panel regression method. Having tested the climate-wealth channel empirically, we shall model this link using recent developments in Theoretical Research.

Primary Supervisor: Dr. Deva Ruthvik Velivela.

Additional Supervisor/s: Dr. David Comerford, Prof. Joseph Byrne.

Further information: Any questions or clarifications can be directed to Dr. Deva Ruthvik Velivela at deva.velivela@strath.ac.uk

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