Bauer, Michael D.; Offner, Eric A.; Rudebusch, Glenn D. - 2023
The Inflation Reduction Act of 2022 (IRA) represents the largest climate policy action ever undertaken in the United … States. Its legislative path was marked by two abrupt shifts as the likelihood of climate policy action fell to near zero and … of climate policy transition risk. Our results highlight the heterogeneous nature of climate policy risk exposure. We …