Manyu Banerjee ’23

Major

Economics

Project Title

Anomalous Weather and Business Activity

Presentation Link

View Manyu's Presentation

Certificate(s): Finance, Statistics and Machine Learning

I worked on a project to determine the economic effects of hurricanes using measures of business activity around the time of Hurricane Harvey. My mentor Elmira Kalhor intends to analyze these data using a difference in differences (DiD) regression with a synthetic control (i.e., comparing economic trends in Harvey-affected regions against a control group of regions not affected). I assisted her by formulating a regression model that found the effect of anomalous weather on different types of businesses, which is necessary to justify assumptions for the DiD model. I used a fixed effects regression model that took advantage of the data set’s multiple observations across time to produce an unbiased estimate of the effect of anomalous weather on different business types. This internship showed me how economic concepts and tools could be applied creatively to other fields such as the study of climate change. It also provided me with an invaluable opportunity to formulate a model while considering potential sources of bias and acknowledging practical limitations. This project inspired me to continue research that helps inform public policy without limiting myself to traditionally economic spheres.



Internship Year

2021

Project Category

Climate and Environmental Science

Organization(s)

Center for Policy Research on Energy and the Environment (C-PREE), School of Public and International Affairs, Princeton University

Mentor(s)

Michael Oppenheimer, Albert G. Milbank Professor of Geosciences and International Affairs and the High Meadows Environmental Institute; Elmira Kalhor, Postdoctoral Research Associate, Princeton School of Public and International Affairs