We examine the pattern of allowance trades in the European Union Emissions Trading System (EU ETS) using highly disaggregated trading data and identify a significant and robust home market bias. Our results point to informational transactions costs that increase when trading across national...

Using firm-level panel data, this paper exposes differences in the dynamic oil production regime between private and state-owned firms. I find that state-owned firms reduce the oil supply, ceteris paribus, by 3.5 percent each year, but private firms hold output constant. Furthermore, state-owned...

A well-known result about market power in emission permit markets is that efficiency can be achieved by full free allocation to the dominant firm. I show that this result breaks down when taking the interaction between input and output markets into account, even if the firm perceives market...

I estimate the level of emissions cost pass-through to hourly wholesale electricity prices in Germany, based on spot market data. I control for contemporaneous shocks to demand and supply by constructing a detailed supply curve for fossil generation, and intersecting it with residual demand for...

Gegen unzureichende Klimapolitik und für konkrete Klimaschutzmaßnahmen protestieren seit 2019 hunderttausende junge, oft noch nicht wahlberechtigte Menschen unter dem Dach der sogenannten Fridays-for-Future-Bewegung. Ob und wenn ja, wie sich lokale Proteste und Schulstreiks auf Landtags-,...

In the latter half of the fourth millennium BC, our ancestors witnessed a remarkable transformation, progressing from simple agrarian villages to complex urban civilizations. In regions as far apart as the Nile Valley, Mesopotamia, Central Asia, and the Indus Valley, the first states appeared...

We analyze how a set of 22 European countries are affected by increased Chinese export competition between 1995 and 2008. Employing product level data, we document a reduction in the export volume of European countries due to increased Chinese export competition. This alteration in the export...

I argue that large youth cohorts consisting of males aged 15--19 increase the risk of civil conflict, by boosting the pool of potential recruits (PR) along the extensive (cohort size) and intensive (marginalization) margin. As these large cohorts transit out of the pool of PR in their mid-40s,...

For a panel of 109 coastal countries we show that negative economic shocks in the fisheries sector are associated with an increase in maritime piracy. Our identification strategy uses the variation in the phytoplankton abundance off the individual countries' coasts, measured by satellite data,...