Yanjun (Penny) Liao is an economist and Fellow at Resources for the Future. Her current research focuses on issues of natural disaster risk management and climate adaptation. In a series of ongoing projects, she investigates how flood risk and the design of flood insurance program affect housing markets, the mortgage system, and location decisions of households with different demographics. She has also studied the impacts of disasters on local government budgets, housing markets, and demographic changes. In a secondary research agenda, Liao studies consumer behavior regarding the adoption of clean technology in the electricity and transportation sector.
Liao is also a research fellow at the Wharton Risk Center, where she conducted her postdoctoral research during 2019-21. Before that, she earned her PhD in economics from UC San Diego in 2019.