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Companies are exposed to carbon-transition risk as the global economy transitions away from fossil fuels to renewable … energy. We estimate the market-based premium associated with this transition risk at the firm level in a cross-section of …. Short-term transition risk is greater for firms located in countries with lower economic development, greater reliance on …
Persistent link: https://www.econbiz.de/10012482725
The UNFCCC process of negotiating multilateral carbon emissions reductions thus far has focused on approximately equiproportional cuts in annual carbon emissions by country along the lines of the Kyoto Protocol agreement. But now, with the objective of involving large developing countries such...
Persistent link: https://www.econbiz.de/10012460218
This paper presents both analytics and numerical simulation results relevant to proposals for carbon motivated regional trade agreements summarized in Dong & Whalley(2008). Unlike traditional regional trade agreements, by lowing tariffs on participant's low carbon emission goods and setting...
Persistent link: https://www.econbiz.de/10012463767
Climate change remains one of the major international environmental challenges facing nations. Up to now, nations have to date adopted minimal policies to slow climate change. Moreover, there has been no major improvement in emissions trends as of the latest data. The current study uses the...
Persistent link: https://www.econbiz.de/10012455747
Finally we question the standard use of infinitely-lived, single-agent models, which assume, unrealistically, intergenerational altruism in determining optimal abatement policy. Their prescriptions can differ, potentially dramatically, from those needed to correct the negative climate...
Persistent link: https://www.econbiz.de/10012455949
We study how the implementation of emissions trading systems (ETS) impacts emissions reductions and the usage of renewable energy using a panel sample of the largest 100 countries worldwide. Exploiting the cross-country variations in ETS implementations, we show that ETS adoption materially...
Persistent link: https://www.econbiz.de/10013435149
Ground-level ozone has been shown to have significant negative health externalities from short-term exposure, and as such has been regulated by the U.S. Clean Air Act since the 1970s. Ozone is not emitted directly; instead formation occurs due to a complex Leontief-like combination of air...
Persistent link: https://www.econbiz.de/10014247990
This paper develops a decision-theoretic approach to policy analysis. We argue that policy evaluation should be conducted on the basis of two factors: the policymaker's preferences, and the conditional distribution of the outcomes of interest given a policy and available information. From this...
Persistent link: https://www.econbiz.de/10012468673
The firm response to regulation is seldom as controversial as in the context of fuel economy standards, a dominant policy to reduce emissions from vehicles worldwide. It has long been argued that such standards lead to vehicle weight changes that increase accident fatalities. Using unconditional...
Persistent link: https://www.econbiz.de/10012455341
Using new surveys on more than 40,000 respondents in twenty countries that account for 72% of global CO2 emissions, we study the understanding of and attitudes toward climate change and climate policies. We show that, across countries, support for climate policies hinges on three key perceptions...
Persistent link: https://www.econbiz.de/10013334482