China’s national leaders see restructuring and diversification away from resource-based, energy intensive industries as central goals in the coming years. On the basis of extensive fieldwork in China between 2010 and 2012, we suggest that the high turnover of leading cadres at the local level...

We analyze a dynamic multi-pollutant problem where abatement costs of several pollutants are not separable. The pollutants can be either technological substitutes or complements. Environmental damage is induced by the stock of accumulated pollution. We find that optimal emission paths are...

We formulate an optimal control capital accumulation model with a Leontief-type production function and an exogenously given time-lag between investment and the accumulation of the capital stock, to analyze the qualitative and quantitative influence of time-lags on the system dynamics. As known...

We analyze a dynamic multi-pollutant problem where abatement costs of several pollutants are not separable. The pollutants can be either technological substitutes or complements. Environmental damage is induced by the stock of accumulated pollution. We find that optimal emission paths are...

This paper analyses the role of climate and environmental policy for the relationship between firms' environmental externalities and their cost of debt using data on European corporate bonds. For direct environmental costs as well as for carbon emissions, we find that policy is a key driver of...