Nora M.C. Pankratz

I'm an economist at the Division of Financial Stability of the Board of Governors of the Federal Reserve System. Prior to joining the Board, I was a postdoc at the University of California, Los Angeles (2019-21) and received a Ph.D. in Finance from Maastricht University (2015-19).

I am interested in how firms and investors respond to changing environments. In this context, my research explores the potential effects of climate change on the workers, firms, and supply chains, and investigates how these effects play out on financial markets. To draw causal inference, my work relies on quasi-experimental variation, i.e., in meteorologic data, and leverages large public and administrative data sets of financial and economic outcomes.

My research was awarded with grants by the French Social Investment Forum, the Principles for Responsible Investment, and the Institute of Labor Economics (IZA). My joint work with Jisung Park and Patrick Behrer was recently covered by the New York Times, LA Times, and the Guardian.

Last Update: 9-2022 | Disclaimer: All views expressed on this site are mine. They do not reflect the views of the Federal Reserve System.