Caroline Welter and Daniel Centuriao, fourth-year doctorate students in economics and graduate research assistants at the Regional Research Institute, recently received the M. Jarvin Emerson Student Paper Competition award at the 54th Annual Mid-Continent Regional Science Association Conference in Cleveland, Ohio.
“Assessing the Cost of Urban Climate Resilience: An Analysis of the NYC Financial District and Seaport Climate Resilience (FiDi) Master Plan Implementation,” presents an economic analysis of New York City’s ambitious master plan to fortify Lower Manhattan against the adverse effects of climate change, including tidal flooding, coastal storms and rising temperatures, with an investment ranging from $5 to $7 billion over the next 15 years.
They began their award-winning research while participating in summer school sponsored by the North American Regional Science Council in 2022. During this program, students gained input from stakeholders at the New York City Economic Development Corporation and New York City Mayor's Office of Climate Resiliency while examining the New York City plan to adapt to address climate change.
The paper was also supported by IMPLAN, which provided access to databases used in the research.