Our Team
Toan Phan
Toan Phan is a senior economist in the Research Department. His research interests include climate economics, climate finance, macroeconomics and international macroeconomics.
Phan joined the Federal Reserve Bank of Richmond in July 2017 after serving as an assistant professor of economics at the University of North Carolina at Chapel Hill. He earned his doctorate from Northwestern University in 2012 and his bachelor of science in mathematics from Bucknell University in 2006. He is from Hanoi, Vietnam.
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Academic Publications
Macroeconomic Dynamics, Vol. 25, December 2021: 2102-2127Previous Version: Working Paper, April 2018, No. 18-10American Economic Journal: Macroeconomics, Vol. 12, October 2020: 33–70Previous Version: Working Paper, February 2018, No. 18-05RAmerican Economic Journal: Macroeconomics, Vol. 11, July 2019Previous Version: Working Paper, March 2018, No. 18-07Journal of Money, Credit and Banking, Vol. 51, March-April 2019: 313-368
We document that seasonal temperatures have significant and systematic effects on the U.S. economy, both at the aggregate level and across a wide cross section of economic sectors.
Previous Version: Working Paper, March 2018, No. 18-09Journal of Economic Theory, Vol. 177, September 2018: 280-314Previous Version: Working Paper, April 2018, No. 18-11International Economic Review, Vol. 58, November 2017: 1303-1316Journal of Economic Dynamics and Control, Vol. 83, October 2017: 1-17Economics Letters, Vol. 151, February 2017: 66-70Journal of International Economics, Vol. 104, January 2017: 157-165Review of Economic Dynamics, Vol. 22, October 2016: 93-108Economic Theory, Vol. 61, February 2016: 241-271Nonlinearity, Vol. 23, October 2010: 2599-2622 -
Works in Progress
"Climate Defaults and Financial Adaptation" (with Felipe Schwartzman).
"Excess Mortality from Hurricanes: New Evidence from Microdata" (with Laura Bakkensen, Lala Ma and Logan Blair).
"Mortgage Market with Denial of Climate Change Risks: Theory and Evidence" (with Laura Bakkensen and Russell Wong).
"Race and Environmental Worries” (with Ranie Lin and Lala Ma).
"The Role of Information in Climate Migration: Evidence from a Large Randomized Survey Experiment in Vietnam" (with Laura Bakkensen and Paul Schuler).
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Bank Publications
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Working Papers