The NBER’s thirty-fourth Annual Conference on Macroeconomics brought together leading scholars to present, discuss, and debate six research papers on central issues in contemporary macroeconomics. In addition, James Stock, former chief economist and director of research at the International Monetary Fund, delivered a thought-provoking afterdinner talk on the economics of climate change. Video recordings of the presentations of the papers and the after-dinner talk are all accessible on the web page of the NBER Annual Conference on Macroeconomics (https:// www.nber.org/macroannualconference2019/macroannual2019.html). These videos,whichmake the content of the conferencemorewidely accessible, are a useful complement to this volume. This conference volume contains edited versions of the six papers presented at the conference, each followed by two written comments by leading scholars and a summary discussion of the debates that followed each paper. The volume also contains a paper, “Climate Change, Climate Policy, and Economic Growth,” by James Stock, based on his dinner talk. The paper provides an extremely useful introduction to the topic of climate change and climate change policy formacroeconomists. The paper makes four key points. First, simple time-series regression models confirm that essentially all the warming over the past 140 years is due to human activity. Second, policy has a crucial role toplay ifwe are to succeed in decarbonizing the economy. Third, current policies will not succeed in decarbonizing the economy in time to prevent severe damage from climate change. Fourth, the politics, as opposed to the economics, of Pigouvian carbon pricing do notwork. This suggests the importance of considering other policies, especially those that drive low-carbon technical innovation. There was no discussant for the paper because of its origin as a dinner talk. We are grateful to James Stock for taking the time to write up his comments on this vitally important topic.

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NBER 第 34 届宏观经济学年会汇集了顶尖学者，就当代宏观经济学的核心问题发表、讨论和辩论六篇研究论文。此外，国际货币基金组织前首席经济学家兼研究主管詹姆斯·斯托克就气候变化经济学发表了发人深省的晚宴。论文发表和餐后谈话的视频都可以在 NBER 宏观经济年会网页上获取（https://www.nber.org/macroannualconference2019/macroannual2019.html）。这些视频使会议内容更易于访问，是对本卷的有益补充。本会议卷包含在会议上发表的六篇论文的编辑版本，每篇文章之后是领先学者的两篇书面评论以及对每篇论文之后的辩论的总结讨论。该卷还包含一篇论文，“气候变化、气候政策和经济增长”，作者是詹姆斯·斯托克，基于他的晚餐谈话。该论文为宏观经济学家提供了对气候变化和气候变化政策主题的非常有用的介绍。论文提出了四个关键点。首先，简单的时间序列回归模型证实，过去 140 年来的所有变暖基本上都是由人类活动造成的。其次，如果我们要成功实现经济脱碳，政策可以发挥至关重要的作用。第三，当前的政策无法及时使经济脱碳以防止气候变化造成的严重破坏。第四，庇古碳定价的政治与经济相反。这表明考虑其他政策的重要性，尤其是那些推动低碳技术创新的政策。这篇论文没有讨论者，因为它起源于晚餐谈话。我们非常感谢 James Stock 抽出时间写下他对这个至关重要的话题的评论。