Summary

The chapters of this dissertation explore the macro-financial dimensions of climate change, examining how markets and financial frictions shape households’ adaptive responses and investors’ role in financing the transition. It shows how physical climate risks affect housing markets, highlighting how financial constraints hinder effective adaptation, reinforcing inequality and influencing political support for public intervention. On the transition side, it analyzes how capital markets price climate risk and value green innovation activity, underscoring the role of institutional investors in directing funds toward the green economy. Together, the chapters of this dissertation demonstrate how financial incentives, frictions, and political dynamics interact to shape climate resilience and the green transition.

Yasmine van der Straten studied Economics and Law at the undergraduate level, earning a BSc in Economics and a LLB in Dutch Law from Erasmus University Rotterdam. After, she completed a research master (MPhil) in Economics at the Tinbergen Institute, where she developed a strong interest in climate finance, macro-finance, and political economy. This motivated her to pursue a PhD in Finance at the University of Amsterdam, under the supervision of Enrico Perotti and Rick van der Ploeg. Currently, Yasmine is an Assistant Professor of Finance at Nova School of Business and Economics.